Vietnamese people love to drink coffee and spend a lot of money on eating out.

(Dan Tri) - Economic difficulties do not affect the need for coffee and the trend of eating out. According to a report, 6% of people surveyed said they go out for coffee every day. 17% said they eat out every day.

The 2023 Vietnam Food and Beverage Market Report by iPOS, a company providing management solutions for restaurants and cafes, reveals the spending habits of Vietnamese people in the food and beverage (F&B) sector. The results were compiled after surveying nearly 3,000 restaurants and eateries and nearly 4,000 consumers nationwide.

There are people who go to drink coffee every day.

The survey showed that despite the impact of the economic recession, consumers tightened their purse strings, but nearly 60% of respondents were still willing to spend VND 41,000 or more for a coffee trip in 2023. This rate continued to grow slightly compared to 2022 and was a surprise in a difficult economic year like 2023. The most common spending level was VND 41,000-70,000, accounting for about 45%. For high-end coffee trips from VND 70,000 or more, the number remained almost the same, accounting for more than 14%. Among those surveyed, 42.6% chose to go to coffee 1-2 times a month. Meanwhile, the rate of customers going to coffee outside with a frequency of 1-2 times/week increased from nearly 23% in 2022 to more than 30%. Notably, up to 6% of Vietnamese respondents admitted to going to coffee shops every day. This group of customers often go to coffee shops for work meetings, or are students and freelancers.

60% of respondents are willing to spend 41,000 VND or more for a coffee trip (Source: iPOS).

People who are dating tend to go to coffee shops more often, mostly once or twice a week. In contrast, single and married people tend to only go to coffee shops once or twice a month.

Young people like to eat out

In addition to the above needs, the report said that Vietnamese people tend to eat out more often. According to the survey results, more than 17% of diners eat out every day. Meanwhile, 29% of others admitted to eating out 3-4 times/week, a sharp increase compared to the rate of nearly 18% in the 2022 survey. Despite economic difficulties, spending on F&B services has increased significantly. 77% of diners expect to maintain or even increase their spending on food in 2023. When eating out on special occasions, respondents said they are willing to spend a lot and distribute quite evenly with prices ranging from 100,000 VND to 1 million VND. Specifically, the most common price is 200,000-300,000 VND, accounting for nearly 28%. People without families will have a higher frequency of eating out. Accordingly, the single and dating groups have a daily eating out frequency of nearly 18% and 19%, respectively. For the married group, this number is lower, at nearly 14%. In terms of gender, the daily eating out rate of men accounts for 21% while the figure for women is 14%. This shows the difference in eating habits between the two genders. Men tend to eat out more often due to lifestyle habits, busy work, convenience or gathering with friends. Meanwhile, women often spend more time cooking at home, due to concerns about health, nutrition and food hygiene for themselves and their families.

Forecast of Vietnam F&B market value (Source: Euromonitor).

According to data from market research organization Euromonitor, the market value of the Vietnamese F&B industry this year is expected to increase by 10.92% compared to 2023. After recovering and growing strongly, the F&B industry will continue to grow at a compound growth rate of 10.25% in the 2023-2027 period and is expected to reach a value of VND872,916 billion in 2027. Notably, in the past year, 80% of businesses reported good business results. Business health has recovered and there are enough resources to develop in the near future. Of the 2,255 responding units with good business performance, more than 51.7% of restaurants plan to expand their scale. However, nearly 33.5% of units still do not have this need. Some reasons are that businesses are satisfied with their current business situation, or are concerned about the potential risks of expansion.

Dantri.com.vn

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