What are the outstanding products FMCG includes and what are the current consumption trends of Vietnamese people are the issues that most business owners are interested in.
FMCG is the most important and familiar category to our daily lives. If you are wondering: What is FMCG? What are the characteristics of this industry? What is the current trend of FMCG industry in Vietnam? So please continue to follow the information below of Navigos Search.
1. What is FMCG?
FMCG (Fast Moving Consumer Good) is a fast-moving consumer goods industry, including products with short life cycles, relatively small profits, but often sold in large quantities, with a high repurchase rate.
Popular products in FMCG industry are: Food and beverage, personal care products, health care products, household appliances.
Find out what is FMCG industry?
2. Consumers are more demanding when choosing to buy products
The quality of life is increasing, so users also have higher requirements on hygiene and safety, product quality to ensure health. FMCG industry market in Vietnam is quite large and constantly expanding, consumers have more choices. This requires FMCG manufacturers and business owners to have a clear orientation and come up with the most appropriate business strategies.
3. Fierce competition among manufacturers
FMCG is considered a fertile land, so there are many large, medium and small enterprises to try. Despite the diversity in categories, categories and products, the number of brands and brands dealing in those items is extremely large. That is also the reason for the fierce competition in this industry.
When the price and use between the brands are relatively similar, how to make many people know and choose to use the product is a difficult problem to decide the existence of the business. In which, a number of ways such as promoting products, affirming brand sovereignty, improving product designs, etc. have been effectively used by businesses.
Businesses in this industry are fiercely competitive
4. What items are hot trends?
Here are the hot trends of outstanding products of the FMCG industry in Vietnam today:
Friendly products with the environment
When promoting FMCG products, brands include environmental friendliness as the main message. Products sourced without harm to the environment are a way to relieve stress about pollution in production and create goodwill with users. However, such friendliness should not be mere slogans but must be authentic products that are environmentally friendly and accompanied by practical pollution reduction moves from the manufacturer.
Non-gender products
Products in the field of fashion and beauty today are more and more oriented towards the trend regardless of gender, both men and women can use. When buyers do not have to worry about the design and use of which object, the product will be sold faster.
Safe and healthy products
Currently, health is the top concern of users and customers. They often doubt that the product contains harmful chemicals, is it really safe, is it good for health as advertised,... FMCG businesses, especially food manufacturers are focusing on cutting sugar, reducing fat and finding healthier alternatives. Meanwhile, users also tend to be more interested in products of natural and organic origin.
In particular, since the outbreak of the Covid-19 pandemic until now, it seems that everyone is paying more attention to their health and always looking for and choosing safe products to protect and good for their health. Strong.
5. Managers need to apply technology in product distribution
Busy life has made online/online consumption gradually become a trend in Vietnam thanks to its convenience and good response to consumer demand. Fast moving consumer goods are not only fast but also convenient because the faster the ability to respond to customer needs, the higher the competitiveness. With the power of today's modern technology, most FMCG products can be purchased via the internet in a flash.
The growth rate of the online FMCG industry is forecasted to be superior to that of the traditional FMCG business. Therefore, FMCG manufacturers and distributors are also tending to apply technology to facilitate consumers' traceability, easy selection of goods and the most convenient payment.
What is the current trend in FMCG industry?
Hopefully the above sharing of Navigos Search has helped you understand what FMCG is as well as the trend in this potential industry to come up with an effective business plan and the fastest revenue and profit growth for your business. Karma.
With more than 20 years of experience in the field of recruiting mid-level and high-level personnel, Navigos Search is confident to bring the top optimal human resource solution for businesses. Owning a team of experienced human resources experts, knowledgeable about the labor market and knowledgeable about each core industry. Please contact us to get the most suitable advice , consulting and HR solutions for your business.
There is still a lot of useful information, information about hot industries in the market is constantly updated at Navigos Search's Fanpage and LinkedIn , so don't miss it!
Navigos Search - Vietnam's leading mid- and high-level talent hunting company