Consumer goods post three year high growth rate

The consumer goods sector posted a year on year growth rate of 6.3 percent in the second quarter this year, the highest for the last three years, reported Neilsen Vietnam Company.

A supermarket in HCMC (Photo: SGGP)

According to the company’s latest report in six large cities of Vietnam namely Hanoi, HCMC, Hai Phong, Can Tho, Nha Trang and Da Nang, the output increase of 5.2 percent was the major contributor to the sector’s growth.

Beverage including beer grew 9.2 percent and contributed up to 41 percent of fast moving consumer goods sales. Food posted a growth rate of 47 percent, milk 4 percent and home care products 4.6 percent.

The growth rate reached 6.3 percent in the second quarter in urban areas.

Rural areas continued to be the potential market with 7.6 percent within one year staring last June.

Mr. Nguyen Anh Dung, director of retail measurement service department under Nielsen company, said that rural population accounts for 68 percent of the country total of 90 million. However, only 54 percent of fast moving consumer goods sales come from this area now, proving its large potential.

One of reasons for businesses to yet to well exploit this potential is high transport costs, he added.

By Kim Chung – Translated by Hai Mien

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