Many Vietnamese consumers develop preference for domestic goods
The consumption of Vietnamese goods has been on the rise, with over 90% of consumers prioritising products made in the country, statistics show.
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| The launche of the Vietnam Week Event “Made in Vietnam – Quintessence of Vietnam" in 2020. (Photo: VNA) |
Vietnamese goods are currently accounting for more than 90% of products sold at distribution networks of domestic firms. This rate is 60 - 96% at foreign-owned supermarkets in the country, according to the Ministry of Industry and Trade’s steering committee for the “Vietnamese people prioritise Vietnamese goods” campaign.
Meanwhile, made-in-Vietnam goods make up at least 60% of all products for sale at traditional markets and convenience stores.
In particular, after the COVID-19 pandemic, 76% of Vietnamese consumers have developed preference for domestic goods, especially reputable ones.
More than 90% of consumers said they will prioritise Vietnamese goods when shopping, and 75% will recommend Vietnamese goods for their families and friends, according to the steering committee.
Le Viet Nga, Deputy Director of the Domestic Market Department at the Ministry of Industry and Trade, said the “Vietnamese people prioritise Vietnamese goods” campaign, launched by the Politburo, has changed businesses and consumers’ awareness of domestically produced goods.
She attributed that success partly to an awareness improvement among many enterprises which are working to win consumers’ trust by applying scientific and technological advances and adopting modern management solutions to reduce production costs, better product quality, and improve product designs and after-sales services.
A number of companies initially focusing on export have paid more attention to the domestic market and sold the products meeting choosy markets’ standards to Vietnamese consumers. They have also managed to develop their own distribution networks or connect with distribution businesses to expand their products’ presence in the domestic market, Nga noted.
To further promote the competitiveness of Vietnamese goods, experts suggested enterprises proactively equip themselves with cutting-edge technology to increase labour productivity, reduce production costs, guarantee quality, and persify product designs.
Businesses should also improve their management capacity; enhance connectivity with other firms; ensure transparent product information; work with authorities to eradicate counterfeit, poor-quality, and smuggled goods; apply information technology and e-commerce; and concertedly carry out market research, product development, distribution, and trade promotion measures, which will help strengthen their foothold in the domestic and international markets.
(Source: VNA)
