The segment growth was driven by increasing demand for a wide range of veggie, granules, and fruits. The demand is clear to see in Ho Chi Minh City but less than in Hanoi, indicating a difference in cooking habits between the two cities.
Vu Lan season, which falls on the fifteenth day of the 7th month in Lunar calendar (usually corresponding to August or beginning of September), is an occasion that help offspring show their filial piety towards parents, elders, and ancestors. People, therefore, do on diet and purchase vegetarian food for their parents and elders, and bring to pagodas.
Recently, more people are interested in Vu Lan season. The festival, as a result, drives up sales of fast moving consumer goods (FMCG) in the quarter.
Minimarkets, convenience stores, and online channels are sources supplying those kinds of goods during the quarter. In urban cities, there’s modern shopping wave while in rural areas, more people move to shop in medium-sized street shops and modern channels.
The report also showed that the FMCG market shows minor movements in the short term. In urban areas, the market growth is supported by the increase of average paid price while the market in rural retains a healthy growth in volume consumption.
The urban market growth is lagging behind that of rural mainly due to the volume decline of dairy and beverages sector. Meanwhile, dairy in rural gains back its momentum and becomes the fastest growing sector. The other sectors are also seeing good performance in rural areas, according to the report.
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