Vietnamese Products Gain Greater Share in Domestic Market | Company


A face mask production workshop in Vietnam (Photo: VNA)

Hanoi (VNA) – Vietnamese products enjoy better quality, diverse designs and competitive prices to establish their place in domestic and global markets.

Textile and clothing manufacturers are among those who are successfully conquering the domestic market. Companies such as Garment 10, Viettien, Duc Giang, Nha Be, Hoa Tho, Hanosimex and TNG have established themselves firmly and have each recorded annual domestic revenues of hundreds of billions of VND.

Cao Huu Hieu, general manager of the National Textile and Garment Group of Vietnam (Vinatex), said 10 years ago that Vietnamese consumers preferred foreign clothes because of their cheap prices, but now many people have chosen better quality clothes made in the country.

Vinatex, outside Hanoi, has opened more fashion malls in other localities like Ho Chi Minh City in the south and Da Nang in the central region to give consumers easier access to quality domestic products. , he noted.

A recent study by market research firm Nielsen found that after the COVID-19 pandemic, 76% of Vietnamese consumers showed a preference for local products, especially branded, quality and healthy products.

This trend is partly attributed to the fact that Vietnamese products are now more competitive thanks to better quality and reasonable prices. As a result, they enjoy a growing presence in different distribution channels.

Vietnamese products gain greater share in domestic market hinh anh 2Vietnamese products occupy an important place in supermarkets. (Photo: VNA)

According to the Ministry of Industry and Trade (MoIT), Vietnamese products account for at least 90% of products sold in supermarkets, for example 90-93% at Co.opmart, 90-95% at Satra and 95% at Vissan. . The rate is 60% or more in traditional markets and convenience stores.

Le Viet Nga, deputy director of the MoIT’s internal market department, said enterprises now realize that to win consumer trust, they need to improve product quality, boost science and technology applications, and use management measures. advances to reduce production costs, with better quality. , designs and after-sales services.

Many companies that have long been export-oriented are now paying more attention to the domestic market and offering products with high standards for local buyers. They also managed to develop their own national distribution networks in Vietnam.

Companies are also aware of the need to build and protect their brands and actively participate in major events promoting Vietnamese products to domestic consumers and overseas Vietnamese, Nga said.

She noted that to help enterprises expand their domestic presence, relevant agencies will continue to effectively implement various programs and plans to promote trade, develop supporting industries and help enterprises intensify science and technology applications, increasing their productivity and competitiveness.

In particular, one of the objectives is to encourage businesses to lead a digital transformation using e-commerce, e-payments and modern logistics methods so that they can engage more in domestic and foreign distribution chains. . Moreover, high quality Vietnamese products and services favored by consumers will also be promoted as national brands, the official added./.

ANV

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