In the past few years, Vietnam's retail and consumer market has increasingly developed potential and is attractive to foreign investors because of its large population, young population structure and high household spending rate grew rapidly. Along with that, the integration and continuous expansion of signing of free trade agreements have made Vietnam's retail market more dynamic. However, this also creates many challenges for domestic enterprises.
People choose Vietnamese fashion products at a supermarket in Bien Hoa City
Deputy Director of the Vietnam Confederation of Commerce and Industry (VCCI) Ho Chi Minh City branch Nguyen Huu Nam shared that in the increasingly extensive integration playground, Vietnamese enterprises cannot "stomp in place" but need to proactively change market approach, management thinking, actively invest in people, technology, digital transformation to create products with beautiful and rich designs and reasonable prices and good after-sale service. That is the key to winning, keeping and increasing market share at home market
In addition to the strategy of expanding market share and changing retail trends as well as consumer tastes, Vietnamese businesses need to really assert their home ground position through building a Vietnamese brand. full of pride, prestige, enough stature and strength. According to many representatives of supermarkets and trade centers in the province, Vietnamese goods increasingly occupy a high proportion on supermarket shelves. Vietnamese products sold in supermarkets have improved in quality and design with more competitive prices. However, in terms of brand recognition, the level of "spending" to promote products to the front, in a position that is just right for the eyes of buyers or implementing promotions, many Vietnamese businesses are still facing many difficulties compared to other multinational corporations and companies, which have strengths in capital and human resources...
Ms. Nguyen Thanh Ngoc (living in Trang Dai Ward, Bien Hoa City) said that currently in the market, there are many foreign retailers that are strong in technology, management and operation, but the level of understanding Vietnamese consumers is not as well as domestic enterprises. However, when going to commercial centers, supermarkets, or going around e-commerce floors, the popularity, purchase and impression for foreign brands still dominate.
It is worth noting that many Vietnamese brands have been "present" on store shelves from urban to rural areas, from traditional retail to modern retail forms, from direct retail to online retail. For example, in the processed food segment with the Vissan brand, the dipping sauces and condiments under the Masan brand. The dairy industry stands out with Vietnamese brands such as Vinamilk, TH Truemilk, Lothamilk, Nutifood... Or the fashion industry with brands An Phuoc, Viet Thang, Viet Tien, Biti's, Ninomaxx... also created many private imprints and identities.
Mr. Nguyen Duc Tung, Deputy General Director of Lothamilk Joint Stock Company (Bien Hoa City) shared that as one of Dong Nai's enterprises that regularly wins the title of Vietnamese High-Quality Goods, the company always focuses on operating the production following modern production process, meeting high standards and requirements to improve product quality. Moreover, the company also regularly promotes marketing, marketing and product promotion activities. Currently, besides the market in the southern provinces and cities, the company also expands the market to the North.
According to the Association of Vietnamese High Quality Products Enterprises, through the polls, there are 524 enterprises officially achieving the certification mark in 2022. Notably, 36 enterprises have been voted by consumers for 26 consecutive years. In addition, there are 87 new businesses that have achieved the first time and are more focused on the group of food businesses, have typical products in the market that have achieved 5-star OCOP, start-up businesses or businesses that have applied international quality standards in production practices.
Chairman of the Association of Vietnamese High Quality Products Enterprises Vu Kim Hanh shared. In the coming time, the Association will focus on activities to connect the group of leading Vietnamese enterprises, which have created a strong brand, won the title of Vietnamese High Quality Goods for many years with a group of small and medium-sized enterprises, young enterprises, and start-up enterprises in many localities... so that this group can learn more experiences and lessons on management, operation, and brand development from the forerunner enterprises.