Fast Moving Consumer Goods (FMCG) industry is the industry that provides all the products/necessities in our lives. Usually, the production cost and profit per product is quite low, the production volume is large and the consumption is extremely fast.
FMCG market is a truly potential in Vietnam. According to economic experts, at present, FMCG businesses need to focus on innovating their products not only to keep pace with the needs of consumers, but also to ensure the convenience, quality and safety of the finished products.
The trend of consuming healthy food can increase income, create a better living-standard, Vietnamese consumers are ready to spend more on products and services’ quality made with natural ingredients. Businesses who offer products, services and brand positioning in line with this trend will be more successful in capturing consumer loyalty.
In fact, in relating to the trend of The price of polarization , consumers still tend to purchase different price segments depending on the industries. This will create a pressure in increasing quality while reducing costs of manufacturing for all enterprises to enhance competitiveness. By integrating the latest technologies, companies will create more efficient production processes, cut-down costs and increase the velocity of goods.
Will be a fertile land for FMCG brands to lead the game. Smartphones are a pretty effective communication channel so brands need to find new ways to approach the potential customers, then enhance their experiences, encourage engagement, and present them those interesting ideas that match their values.
Organized and centralized Data-driven business models are valuable resources for uncovering consumer preferences, underlying issues, and delivering success metrics in the future. Decision makers can leverage this precise analysis to proactively take actions, assess product risks, monitor market trends, and well prepare on effective production plans.