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Locals brands emerge as favorites
Business leaders, consumers look to near future with higher confidence
The market research firm TNS Vietnam disclosed the surprising results of its annual survey in HCMC on October 28, that up to eight of the 10 fastest growing brands in the local market in the first half of this year are owned by local firms.
The local brands are the soya milk Vfresh, the fish sauce Nam Ngu, the fruit juice Vfresh, the ice cream Trang Tien, the margarine Tuong An, the soya milk Fami, the powder milk Dielac Anpha 1 and the fresh milk Vinamilk.
TNS gave the findings regarding Vietnamese brands based on the consumption in urban areas, where foreign brands of Kotex and the energy drink Sting also joined the top 10 brands in the first half in terms of growth.
The list proved the great strive for Vietnamese brands as only two of the fastest growing brands were Vietnamese in 2007 and four last year. The number doubled in the first half of this year.
Ralf Matthaes, managing director of TNS Indochina, explained at the seminar that Vietnamese consumers were using more local brands.
Matthaes added that the Government's initiative to call for Vietnamese people to buy local products was working. However, he raised the question that whether Vietnamese brands had the quality and aspirational brand equity to thrive when the economy rebounded.
As for the brand awareness, the TNS survey shows local consumers are paying more attention to local brands as 56% of the respondents say the local brands are as good as the foreign ones and 40% state they like local brands.
According to the survey, more than half of the consumers will cut their monthly spending on many sectors in 2009. Entertainment and dining out take the hardest hit as 44% of the respondents spend less on these services.
Following entertainment and dining out are home appliances (29%), household utilities (28%), personal equipment (28%), communications (25%), personal care products (23%), transportation (23%), household care products (23%) and food and beverage products (16%).
Corporate leaders and consumers in Vietnam have shown their much improved optimism about the country's economic growth in the coming months as indicated by the latest surveys of the information and media firm Nielsen Vietnam.
Companies are relatively optimistic as 76% of the respondents in the second wave of Nielsen Vietnam's Business Barometer believe conditions will improve over the next six to 12 months while only 35% were so optimistic in the first survey six months earlier.
Nielsen Vietnam announced the results of the new Business Barometer it carried out with 76 senior leaders of manufacturers from August 20 to September 21.
Up to 70% of the business leaders surveyed state business conditions have improved versus a year ago. "In contrast, only 40% believed this to be true in March when we conducted the first wave of Nielsen's Business Barometer Survey," Vaughan Ryan, director of Nielsen Vietnam, said in a statement the company released on Wednesday.
"The sentiment shared by business leaders shows that there is good momentum among many industries, especially for Fast Moving Consumer Goods (FMCG)," Ryan said. "They've planned well to ride out the recession and even see growth where many businesses are copping losses."
Vietnamese consumers also share business leaders' optimism. "Consumer confidence fell 12% for the first half of 2009 and now has bounced back significantly," the statement says.
Nielsen's Global Online Survey shows the Vietnam Consumer Confidence index has risen an astounding 28 points to 108 for the second half of 2009. "Confidence numbers like these have not been seen since the first half of 2008. Could this, along with the business leaders' positive sentiment, be a true sign of Vietnam's recovery?" the statement says.
vietnamnet, sgt
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