Hanoi: Economic outlook, demographic transformation and changing consumer trends are among macro shifts reshaping Vietnam's fast-moving consumer goods (FMCG) landscape, according to marketing data and analytics company Kantar Worldpanel. In its recent report on the Vietnam FMCG market outlook 2024, Kantar has a positive outlook for Vietnam's economy, saying that despite obstacles and short-term headwinds, the long-term economic trajectory remains robust. Nevertheless, rising costs have had and will continue to have an impact on shoppers' budget management strategy. Value remains a key driver, with consumers making conscious choices about where to allocate their budgets. 'While rising prices and economic uncertainty may present a picture of tightened belts across the board, the consumer landscape is nuanced. 'Essential categories remain at the forefront of budgets, discretionary spending may see cuts, particularly in categories like eating out and entertainment.' However, consumers have not entirely shut down their wallets, according to the report. They are still willing to "splurge," but their spending is driven by value. Added values in health, experiences and convenience may prompt them to seek out products that justify their worth. This presents a unique opportunity for FMCG brands to navigate challenging times and position themselves for growth. The key lies in understanding how different consumer segments are adapting their behaviour and adopting strategies that cater to these shifts. In addition, rising prices have led to a slowdown in in-home FMCG volume growth, even as average spending continues to rise. This raises the question: Is this increase driven solely by inflation, or are consumers changing their shopping baskets? Understanding the answer is crucial for developing effective marketing strategies. Even in difficult times some brands thrive while others find growth elusive. While competitive pricing coupled with strategic promotions is a must, success in securing consumers' share of wallet hinges on brands' ability to seize the opportunities to offer consumers smarter solutions and value-driven choices. As for the impact of changing demographics on the FMCG market, the report says Vi?t Nam's demographic structure is painting a new picture. The once "golden population" is maturing, with an aging, urbanising population and smaller household sizes emerging. This shift holds significant potential for FMCG businesses as demand for diverse products surges across different age clusters. Rising household incomes and decreasing household sizes, however, indicate a demand for evolving value proposition, where affordability might not be the sole driver. Kantar suggested strategies for FMCG brands and manufacturers such as decoding drivers of changes in consumers' shopping behaviour, mastering the multi-channel landscape, building a winning portfolio with consumer-centric innovation, and maximising promotions by focusing on quality over quantity. Its data reveals that over half of FMCG brands struggle d to keep pace with the competition in 2023, particularly within growing categories where approximately one-third of brands began to lag. As competition intensifies in 2024, this highlights the urgent need for brands to identify their unique growth drivers to stay ahead of competition. The FMCG retail landscape in Vietnam is shifting to more convenient and modern formats but not all modern trade channels can win, according to the company. To succeed, brands need to understand the reason behind a shopper's visit to each channel and adapt their approach accordingly. With respect to building a winning portfolio with consumer-centric innovation, different strategies are required for different categories, depending on size, growth and competition landscape. For FMCG manufacturers with a vast portfolio, identifying key categories to prioritise investments is crucial. There are opportunities for rising FMCG categories as well as mature categories. Finally, promotions are one of the most effective ways to driv e immediate volume sales uplift though not all have the same impact. By understanding the true effectiveness of different promotion types on brand growth, brands can harness the power of promotions to not only drive impact on revenue but also build brand loyalty./. Source: Vietnam News Agency
Vietnamese rice prices on the hike
Hanoi: The prices of Vietnamese paddy and rice continued to increase last week, according to the the Vietnam Food Association (VFA). Specifically, the average paddy price at fields rose by 214 VND to 8,000 VND (0.31 USD) per kilo, with the highest reported at 8,050 VND. The average price for paddy at warehouses expanded by 183 VND to 9,475 VND per kilo, the highest recorded at 9,650 VND. Meanwhile, 5% broken rice was priced up to 14,200 VND per kilo; 15% broken rice, 13,950 VND; and 25% broken rice, 13,750 VND. Premium white rice saw an increase of 35 VND per kilo to 14,010 VND. For export, the price of 5% broken rice was 582 USD per tonne, higher than 579 USD of Thailand, and 581 USD of Pakistan. Vietnam's 25% broken rice was sold at 557 USD per tonne, as compared to 530 USD of Thai rice./. Source: Vietnam News Agency
PM visits int’l border gate, inspects projects in Lang Son province
Lang Son: Prime Minister Pham Minh Chinh on April 21 visited the Huu Nghi International Border Gate and inspected some socio-economic development projects in Lang Son as part of his ongoing visit to the northern province. At the international border gate, Chinh emphasised its important role in promoting the friendship and economic ties between Vietnam and China, between China and ASEAN, as well as between Lang Son and Guangxi provinces. Chinh requested agencies and forces there to closely coordinate with each other to complete their tasks, contributing to consolidating and strengthening the relationship between Vietnam and China, concretising and implementing the "Joint statement on further deepening and elevating the comprehensive strategic cooperative partnership between the two countries and building a Vietnam-China community with a shared future that carries strategic significance' reached by the two countries' senior leaders. They were also asked to maintain national defence and security, and firmly p rotect national independence and sovereignty. The same day, Chinh inspected a project on upgrading National Highway 4B's section that runs through Lang Son province. The 62km road is expected to be completed this year, with a total cost of nearly 2.3 trillion VND (90.4 USD). Presenting gifts to workers at the construction site, PM Chinh said the national highway is important in connecting and boosting economic ties between Vietnam and China, between Lang Son and neighbouring Cao Bang and Quang Ninh provinces, as it connects six international border gates with seaports. He asked local authorities and relevant agencies to ensure resettlement for people who had to move to make room for the road construction and support them to stablise their lives soon. When staying in Lang Son, PM Chinh also visited the 193-ha Mailand Hoang Dong-Lang Son Urban Area - a complex of international trade, entertainment, tourism, and golf course in the centre of Lang Son city. On this occasion, the Government leader visited the Victoria Mailand Hoang Dong International Bilingual Kindergarten, which is part of the Victoria School system - the bilingual multi-level school that meets Cambridge standards and follows the happy school model with the companionship of UNESCO. On the same day, the PM attended the opening ceremony of the International Green Industry Expo 2024 - the first of its kind held in Lang Son province, attracting more than 188 domestic and foreign businesses. The exhibition displays products and technological equipment in the fields of electricity production, electronics and green energy, solar power, wind power, large-tonnage automobiles, household appliances, lighting equipment, smart home devices, and agricultural products of Lang Son and neighbouring provinces./. Source: Vietnam News Agency
Tourists come in great numbers to Dien Bien Phu
Hanoi: The special national relic site of Dien Bien Phu Battlefield in the mountainous province of Dien Bien is attracting an increase influx of tourists from across the country and abroad as only half a month ahead of the Grand Celebration on May 7. Statistics from the Relics Committee has shown that in the first half of April alone, more than 100 thousands of visitors flocked to the site, and the number keeps rising in the following days when the main celebration will take place for the historical victory's 70th anniversary (May 7, 1954 - 2024). The tourists often chose to visit destinations such as A1 Hill, Martyrs' Temple, A1 Cemetery, Dien Bien Phu Historical Victory Museum, and the De Castries Bunker. Nguyen Van Dien, a veteran tourist from Hanoi's Tu Liem district, said he joined a group of 40 tourists from the capital city, most of them are veterans and children. Dien said he chose to visit Dien Bien Phu Battlefield early as this year, its 70th anniversary is a big event and the site will be very crowded. His group will stay in Dien Bien for two days and try to visit as many sites as possible particularly the martyrs' cemeteries, he added. "This is not only a great opportunity to honour the heroic history of the nation, but also a time to educate younger generations, especially children about the bravery, heroic, indomitable tradition and the resounding victories of forefathers who sacrificed to protect the Fatherland./. Source: Vietnam News Agency
Eya Laure voted PVL Press Corps Player of the Week
MANILA: Eya Laure of Chery Tiggo has maintained her explosive performance in the Premier Volleyball League (PVL) All-Filipino Conference elimination round, thus earning her second consecutive Player of the Week honors for April 16 to 20. The University of Santo Tomas product had nine attacks, three blocks and seven excellent digs in Chery Tiggo's 25-22, 25-16, 25-20 victory over PLDT at PhilSports Arena in Pasig City on Tuesday. The open spiker also came up with nine attacks, three blocks and two aces when the Crossover prevailed over the Akari Chargers, 25-17, 25-20, 25-17, on Saturday. Chery Tiggo shares the lead with Petro Gazz, Creamline and Choco Mucho at 8-2. But having less points than the three, the Crossovers need one more win for the last semifinal ticket. PLDT (7-3) is also in the hunt. Laure appreciated the trust and lessons she learned from coach Kungfu Reyes, also her collegiate mentor. 'Siguro kung ano 'yung mga sinasabi ni coach Kungfu dati, lagi ko yung nire-recall kasi sometimes 'yung pagtitiwala sa sarili, sometimes 'di siya enough for me. Malaking bagay si coach Kungfu talaga na nagre-remind kung sino talaga ako, kung ano ba 'yung napaghirapan ko dati na kayang-kaya kong dalhin sa pro (Maybe, what coach Kungfu used to say, I always recall because sometimes, self-confidence sometimes is not enough for me. Coach Kungfu is really a big thing, he reminds me of who I really am, what I struggled with before that I can bring to the pro level),' she said. Chery Tiggo hopes to sustain its winning form against Galeries Tower (3-7) on Thursday, also at PhilSports Arena. 'Lagi namang pinapaalala samin ng coaches and everyone naman na respetuhin 'yung kalaban. Siyempre balik kami sa training, pag-aaralan ulit namin sila, may mga scouting pa rin kami na kumbaga kung ano 'yung normal na ginagawa namin sa ibang team, gagawin din namin dito sa Galeries kasi nagte-training sila araw-araw. Pinagtatrabahuhan nila 'yung mga panalo (The coaches and everyone always remind us to respect the opponent. Of cours e, we will go back to training, we will study them again, we still have scouting like what we normally do with other teams. We will also do it against Galeries because they train everyday. They work for their wins),' Laure said. Laure beat teammate libero Jennifer Nierva, Farm Fresh's Trisha Tubu, Creamline's Tots Carlos and Alyssa Valdez, Petro Gazz's Brooke van Sickle and Cignal's Jov Gonzaga for the weekly citation given by print and online scribes covering the league, which is also being aired live at www.pvl.ph. ''Yung bond na nabuo namin sana madala namin hanggang dulo at nakikita naman din siguro, evident siya sa laro na napapakita namin na lagi kaming… we got each other's backs nga talaga (The bond that we formed, I hope we can take it to the end and maybe everbody can see it, evident in the game that we always... we really got each other's backs),' she said. Source: Philippines News Agency
PH to host Indo-Pacific biz forum in May
MANILA: The Philippines will co-host the 6th Indo-Pacific Business Forum (IPBF), the United States government's premier commercial event in the region, the Department of Trade and Industry (DTI) said. In a document shared by DTI recently, the IPBF on May 21 will gather 500 participants composed of senior government officials, industry experts, and other stakeholders across the region. It will have a hybrid livestream component for remote participation. Hosted by the US Trade and Development Agency (USTDA) and in partnership with the US Department of State, the IPBF is aimed at promoting trade, investment, and economic cooperation between the US and its partners in the Indo-Pacific region. 'The event connects government, industry and international partners to share knowledge, identify export opportunities in emerging Indo-Pacific economies, and help partners find infrastructure solutions for development challenges,' the IPBF briefer said. There will also be networking and business matching during the IPBF to promote infrastructure investments in emerging Indo-Pacific economies particularly in clean energy transition, emerging technologies and cybersecurity, supply chain and industrial value chain resilience, as well as health and food security. The commercial event likewise opens opportunities to learn more about government tools and programs to support projects in the region. Source: Philippines News Agency
Trough of LPA affects southern Mindanao
MANILA: The trough of a low pressure area (LPA) is affecting southern Mindanao, the Philippine Atmospheric, Geophysical and Astronomical Services Administration's (PAGASA) reported Sunday. In its 4 a.m. advisory, the weather bureau said the LPA is located 555 kilometers southeast of General Santos City and has a slim chance of developing into a tropical cyclone in the next few days. However, the LPA's trough will bring cloudy skies with scattered rain showers and thunderstorms over Caraga and Davao regions. PAGASA advised people living near the mountains slopes and in the low lying areas to be alert for possible flashfloods 'due to light to moderate rains and thunderstorms.' PAGASA also said a ridge of high pressure area will be experienced extending over the eastern sections of Northern and Central Luzon. Metro Manila and the rest of the country will have partly cloudy to cloudy skies with isolated rain showers or thunderstorms due to localized thunderstorms. Meanwhile, the following areas will experie nce heat index ranging from 42°C to 44°C on Sunday: Dagupan City, Pangasinan - 44°C Bacnotan, La Union - 42°C Aparri, Cagayan - 42°C Tuguegarao, Cagayan - 42°C San Jose, Occidental Mindoro - 42°C Puerto Princesa City, Palawan - 43°C Aborlan, Palawan - 44°C Roxas City, Capiz - 44°C Iloilo City, Iloilo - 42°C Dumangas, Iloilo - 42°C Catarman, Northern Samar - 42°C Guiuan, Eastern Samar - 42°C PAGASA said heat index is what the temperature feels like to the human body when relative humidity is combined with the air temperature. It advised the public to limit the time spent outdoors, especially at noon, and drink plenty of water. People going outdoors are reminded to use umbrellas or wear hats and sleeved clothing. The whole archipelago will have light to moderate winds and slight to moderate seas. The temperature in Metro Manila will range from 25°C to 35°C; Baguio City, 16°C to 25°C; Laoag City, 25°C to 33°C, Legazpi City, 26°C to 33°C; Metro Cebu, 27°C to 32°C; and Metro Davao, 26°C to 33°C. S ource: Philippines News Agency
LGUs, gov’t agencies ordered to implement anti-hunger programs
MANILA: Malacañang on Sunday issued Memorandum Circular No. 47, directing all government agencies and local government units to support the implementation of the Enhanced Partnership Against Hunger and Poverty (EPAHP) program that will ensure food security and proper nutrition. The memorandum was signed by Executive Secretary Lucas Bersamin on April 19. The EPAHP is one of the banner programs of the Task Force on Zero Hunger, aimed at institutionalizing efforts to mitigate hunger and promote food and nutrition security by linking community-based organizations (CBOs) to prospective markets and providing credit assistance to support food production, processing and distribution. 'It is imperative for all government agencies and instrumentalities to support the continued and effective implementation of the EPAHP Program to bolster government efforts towards attaining zero hunger, food and nutrition security, and sustainable agriculture,' the memorandum read. The Task Force Hunger is tasked to ensure the conti nued and effective implementation of the EPAHP Program in coordination with relevant government agencies. The task force is mandated to enhance provision of farm production technologies and extension of services to government-assisted family farms and rural based-organizations, as well as to enhance the sustainability of the EPAHP Program through the implementation of policies that will engage the private sector, and institutionalize mechanisms in LGUs. It is also directed to adopt community participation procurement to encourage CBOs to participate in the EPAHP program, and construct, repair and improve irrigation facilities and appurtenant structures in irrigable areas in the countryside. Source: Philippines News Agency