Vietnamese prefer fresh food by far to processed items
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Vietnamese citizens spend three times more on fresh food than fast-consumer moving goods (FMCG), a new survey says. A family in urban Vietnam spends about VND1.1 million ($47.12) on fresh food a month, according to the recent survey by market research firm Kantar Worldpanel Vietnam.
The survey polled over 2,000 households in Hanoi, the central city of Da Nang, Ho Chi Minh City and southern Can Tho City, and over 1,000 households in various rural areas across Vietnam.
Fruits top the spending category in fresh food, accounting for 19 percent of the total, while vegetables come second at 11 percent. The rest goes to meat, seafood and rice.
The traditional market remains the favorite shopping outlet for Vietnamese people, accounting for 85 percent of total spending on fresh food.
Vietnamese people spend VND930,000 ($39.81) per week on fresh food at traditional markets, mostly on meat and seafood.
Although locals spend only VND220,000 ($9.42) per week on fresh food at supermarkets, the figure shows a 28 percent growth over last year. Most of the supermarket spending is on fruits and processed food.
Fresh food and FMCG make up the majority of Vietnamese people’s spending at 26.8 percent last year in the cities and 25.9 percent in rural areas.
With rising incomes, Vietnamese people, especially in the cities, have been spending more on education and health, the report finds.
The share of spending on education by urban families increased from 10.8 percent in 2012 to 12.9 percent last year, while spending on health grew from 3.5 percent to 3.9 percent in the same period.
The report also finds that Vietnamese consumers accord top spending priority to food safety, health and environmental issues/disease.
The majority of survey respondents, 96 percent, are confident that their spending capability will be stable or increase in upcoming months, and 86 percent expect the Vietnamese economy to be stable or grow stronger in the near future.
Questions & Answers
Q.What is the typical weekly spend on fresh food by Vietnamese people at traditional markets, and what items do they primarily purchase there?
What is the typical weekly spend on fresh food by Vietnamese people at traditional markets, and what items do they primarily purchase there?
Vietnamese people spend VND930,000 ($39.81) per week on fresh food at traditional markets. They mostly buy meat and seafood at these outlets, which remain their favourite shopping option for fresh produce.
Q.How has the spending on fresh food at supermarkets changed recently, and what do consumers mainly buy there?
How has the spending on fresh food at supermarkets changed recently, and what do consumers mainly buy there?
Weekly spending on fresh food at supermarkets, though lower at VND220,000 ($9.42), shows a 28 percent growth compared to last year. Most of this supermarket spending is on fruits and processed food.
Q.What are the primary spending priorities for Vietnamese consumers beyond basic necessities, according to the report?
What are the primary spending priorities for Vietnamese consumers beyond basic necessities, according to the report?
Beyond food and other goods, Vietnamese consumers prioritise food safety, health, and environmental issues/disease. Rising incomes also lead to increased spending on education and health, particularly in cities.
Q.How confident are Vietnamese consumers about their future financial situation and the national economy?
How confident are Vietnamese consumers about their future financial situation and the national economy?
Most survey respondents, 96 percent, are confident their spending capability will be stable or increase soon. Also, 86 percent expect the Vietnamese economy to be stable or grow stronger in the near future.
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