Will your brand succeed in Vietnamese retail market ?
You are a Nordic manufacturer, you are currently selling brands in European retail channels. You would like to expand to Vietnam. But at this point you have no idea whether your product is adapted to the Vietnamese market or not ? You also cannot invest massively to do the market validation, we acknowledge that problem and want to change that.
It is extremely risky to launch a new product without any kind of initial market validation. We have seen highly potential brands failing because of minor mistakes, such as an in-adapted packaging, even though the product itself received positive feedback… We have to accept the fact that there is a cultural gap between European and Vietnamese consumers…And act accordingly.
Well this is where we can assist you, we do that market survey/validation on your behalf, according to your criteria and protocols.
You provide us with :
- Key data about your product
- Target customer’
- Custom code
- Desired sales channel…
We work together in establishing a survey protocol that is approved by your company.
And of course, we need samples !
Then the proccess is quite simple :
- We get to work
- We survey target customers
- We provide you with the final report
- We discuss the results
- You decide what to do next
Why the retail market ?
Double digit growth
Emerging new shopping habits, both urban and rural Vietnamese middle class means. Value of retail sales have more than doubled in 8 years (2008-2016).
Preference for foreign brands
Vietnamese retail customers are more likely to trust imported brand over locally produced.This can be explained by the many recent food scandals.
Not only in urban areas
With growing middle class the wealth of Vietnamese is moving outside of the two main urban centers. Shopping centers are popping up across the country, reaching a bigger part of the population
Latest forecasts predicts that the Vietnamese middle (monthly revenue above 715 USD) class will reach 33 million people in 2020.
New retail players are entering the market each year, in both convenience store and supermarket segment.
Entry ticket price
Listing fees are still low in Vietnam compared to countries such as Thailand, Malaysia, Indonesia. This will not last forever, so is the right time to enter the market.