Consumer spend on fast-moving consumer goods (FMCG) products in Vietnam's rural areas slowed down in the first two months of 2020, mostly driven by the period starting from February 1 when Covid-19 broke out in Vietnam.
| Source: Kantar Worldpanel |
The finding was revealed by Kantar Worldpanel in a report titled Covid-19 Initial Impacts on Vietnam FMCG In-home Purchase 2020 (Rural Vietnam) from February 23 to March 22 compared to the period from March 3 to 31, 2019 released on April 1.
| Source: Kantar Worldpanel |
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There is a profound impact across FMCG sectors, resulting in dynamic movements within each of them. Although growth has been posted in almost all sectors, the Covid-19 spread poses challenges for many categories, especially beverages which have been heavily affected.
According to the report, FMCG growth in sectors from February 23 to March 22 against from March 3 to 31, 2019 saw a drop of 0.7%, of which beverages (alcoholic drinks and non-alcoholic categories) dropped by 24.1%. The major contribution to the total growth included personal care with the highest growth of 18.9%, dairy with 16.6%, home care with 15.1% and packaged goods with 4.6%.
| Source: Kantar Worldpanel |
The FMCG sectors witnessed in rural areas the spikes in demand of “pandemic” categories for stock-up purpose, the report wrote. The situation is similar to Vietnamese consumers in the four key cities including Hanoi, Ho Chi Minh City, Danang, Can Tho.
What is changing in consumers’ basket?
| Source: Kantar Worldpanel |
