Vietnamese consumers are gradually regaining confidence.

Vietnamese consumers are gradually regaining confidence, but this confidence is highly volatile given socio-economic conditions, and they tend to be more anxious.

Housewives are increasingly sensitive to price fluctuations in the market - Photo: Q. DINH

On April 11th, at the "Practical Solutions for Businesses" workshop organized by the Business Research and Support Center (BSA), Ms. Nguyen Phuong Nga - Senior Business Director of Kantar Worldpanel Vietnam - noted that Vietnamese consumers are gradually recovering their confidence, but this confidence is easily swayed by socio -economic conditions and they tend to be more anxious.

According to Ms. Nga, the increase in prices of essential products creates spending pressure for consumers. Often, even when nothing has happened, seeing prices rise at the market makes them worried. They will weigh their options and compare prices more carefully.

Speaking about sales channels, Ms. Nga said that the growth of the online channel does not necessarily mean the growth of a specific product category/brand.

This is because consumers may simply be shifting their spending from one channel to another due to attractive prices or convenience. Understanding the specific sources of growth in the online channel is crucial.

For example, in the food and beverage industry, out of every 100 dong spent online, 56% comes from shifts away from traditional channels, and 44% comes from new value generated online, such as customers purchasing higher-priced products or larger quantities.

"Therefore, they will need businesses to provide more and more comprehensive information so they know if their choices are reasonable," Ms. Nga said, adding that businesses need to "connect" with users more.

On the sidelines of the seminar, Ms. Vu Kim Hanh, president of the Association of High-Quality Vietnamese Goods Businesses, stated that Chinese goods are currently losing market share in the US and are strongly shifting towards other markets, including Vietnam.

Faced with new competitive pressures, domestic businesses need to pay special attention to preserving the domestic market by ensuring product quality and maintaining strong relationships with existing customers.

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Source: https://tuoitre.vn/nguoi-tieu-dung-viet-dang-dan-hoi-phuc-niem-tin-202504120153206.htm