FMCG Monitor October 2020
Key market highlights:
- COVID situation
Though the 2nd wave of the outbreak in late July was well contained, concerns about household income and job security remain higher than usual across 4 Key Cities.
- Economic indicators
Vietnam’s economic performance is getting back to growth in quarter 3 and is expected to continue rebounding in the last quarter of 2020.
- FMCG overview
In short term, the FMCG market growth returns to its pre-COVID level.
- Hot categories
Snacking products are doing well amid the pandemic, promising great opportunities by capturing new in-home occasions.
- Retail landscape
Growth is cooling across all channels. Online channel continues to gain share and is the fastest growing format post MCO.
Despite a global pandemic to worry about, the desire to live more sustainably has not disappeared among Vietnamese people, which might affect their purchase behaviors post C19.
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