F&B extra sturdy with increase in low-end market | Enterprise

F&B more robust with boom in low-end market hinh anh 1A Mixue retailer. Vietnamese customers might proceed to spend in F&B with an inclination of selecting merchandise with extra cheap costs.(Photograph diendandoanhnghiep.vn)

Hanoi (VNS/VNA) – The speedy growth of international meals
and beverage (F&B) chains in Vietnam was making the home market extra
sturdy regardless of the pattern of tightening spending in a world downturn.

Not too long ago, Mixue, a Chinese language chain of contemporary ice
cream and tea shops specializing in the low-end market and
Technology Z, introduced it had reached 1,000 shops by way of franchising after
almost 5 years of operation in Vietnam – a scale that no F&B model had
ever reached.

Regardless of the worldwide financial slowdown, top-of-mind F&B manufacturers
expanded their chains after the COVID-19 pandemic.

As of February, Highland Espresso had round 600 shops, a rise
of 63.5% in comparison with March 2021.

Trung Nguyen E-Espresso almost doubled its shops from 308 in
March 2021 to 620 in February 2023.

Phuc Lengthy, after receiving the capital from Masan Group, expanded
quickly to greater than 900 shops, together with 132 flagship shops and greater than
770 kiosks at WinMart/WinMart , in comparison with simply 80 shops in March 2021.

In response to a report in regards to the F&B market by iPOS.vn, the
F&B market noticed a substantial restoration after the COVID-19 pandemic to achieve
a income of 610 trillion VND in 2022, up 139%.

The market was forecast to develop at 18% this 12 months and hit 1
quadrillion VND in 2026.

The report additionally identified that there have been about 338,600
eating places and low retailers in Vietnam in 2022, up 39% over 2021.

The market this 12 months would see harsh competitors amongst main
chains for market shares whereas small ones turned extra cautious, iPOS.vn mentioned.

The market was additionally seeing the expansions of latest names resembling Phe
La, Katinat Saigon Kafe, and Cheese Espresso.

In response to a report by Viet Dragon Securities Firm (VDSC),
the F&B business can be extra sturdy from the second half of this 12 months.

VDSC additionally identified that Vietnamese customers might proceed to
spend in F&B with an inclination to decide on merchandise with extra cheap

The restoration of tourism would additionally support the F&B business, VDSC

Going digital

Digital transformation was an unavoidable pattern for the F&B
business to create a aggressive benefit, which was highlighted by the
COVID-19 pandemic.

iPOS’ survey discovered that 82.8% of F&B corporations launched into
digital transformation. Nonetheless, most remained at utilizing gross sales administration
software program.

In response to Do Huu Hung, CEO of ACCESSTRADE Vietnam, digital
transformation created a possibility for enterprises to look again on their
growth, enterprise fashions and orientations. Digital transformation would
create modifications for the F&B business, he mentioned./.

Related Articles


Please enter your comment!
Please enter your name here

Latest Articles