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Vietnamese consumers willing to pay premium for high-quality goods

By DA NANG Today / DA NANG Today
March 14, 2023, 15:56 [GMT+7]

Most of the respondents in a recent nationwide survey have declared they will pay a premium for high-quality Vietnamese products that meet specific standards. The demand for originally traceable, good for health, and environmentally-friendly ones is one of the current prominent trends in the domestic market for the time being.

Customers shop at Lotte mart. Photo: Q.T
Customers are pictured shopping at the Da Nang-located Lotte Mart. Photo: Q.T

The opinion survey, launched in September last year, polled consumers in person and virtually and collected their votes on high-quality made-in-Vietnam products, with more than 61,000 votes recorded, mainly at economic hubs such as Ha Noi, Ho Chi Minh City, Da Nang and Can Tho.

The survey’s results showed that consumers not only focus on very basic factors such as quality and price but they are also increasingly interested in safety, origin and function features. Particularly for products in a number of industry groups, including food and beverages, the safety factors are more and more concerned by consumers than before.

Some 43% of the polled people were concerned that businesses might use prohibited substances in production and preservation, and that raw materials are not of high quality for production.

For the retail sector, general trade (GT) still reigns supreme, especially specialised stores, grocery stores and agents providing all kinds of consumer products due to attractiveness in terms of quality, price, convenience or seller friendliness.

Meanwhile, modern trade (MT) is also proving to be attractive to consumers shopping for fast-moving consumer goods (FMCG).

Multi-channel shopping is a popular trend now and in the future, and therefore, it will gradually make the boundary between MT and GT blurred and bring more convenience to shopping activities.

As consumers become more and more aware of the relationship between their health, wellness and the surrounding ecosystem, clean, safe, and verified food that meets quality standards or organic certification is also the first choice for many people.

Reporting by D.H - Translating by A.THU

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