VIỆT NAM INSIGHT COLLECTION 2022

1
Vietnam Insight Collection INTRODUCTION
V I E T N A M I N S I G H T C O L L E C T I O N
2 0 2 2

2
Main Contents 08
03
184
04
Introduction
Macro & FMCG Outlook
Nutritional Drinks
Hygiene Products
Cooking Aids
Non-alcoholic Beverages
Beauty Market
Channel Strategy
Tet 2022
08
36
60
80
102
127
146
170
A message from Managing Director
About Kantar & Contributors
T A B L E O F C O N T E N T S

3
Message from Managing Director 3
Vietnam Insight Collection
Welcome to Vietnam Insight Collection 2022!
COVID-19, undeniably, is an unprecedented
global phenomenon posting wide-ranging
effects. With the heavy outbreak in Vietnam
since May of 2021, the pandemic brought
longer and more strictly applied restriction
measures, having severe impacts on the
economy as well as Vietnamese people’s lives.
We witness the disruption in many aspects
and changes in consumer behaviors caused
by the pandemic. The most visible moves
are from out-of-home activities to stay-
home rituals, from on-premise to off-premise
consumption and from offline to online
shopping in order to cope with movement
control orders. It has changed the way people
think, see, care, and behave, posing both
challenges and opportunities for businesses to
survive and to thrive.
The effects were not the same across
industries and sectors. Consumer basket
has shifted towards more essential products
A Message from Our
Managing Director
such as foods, while there is a tendency to
cut spending on nice-to-have products and
bigger ticket items such as beauty and home
appliances. We also observed the rise of
convenience-driven retail with the upsurge
of smaller modern format - minimarket
especially during the lockdown period.
Some of the changes are set to stay, yet we
can expect many of the longer term trends,
which have temporarily cooled as a result of
COVID-19 to come back once the pandemic
settles down. Given the ongoing uncertainty
regarding COVID-19, having a clarity of sight
through behavioral evidence is crucial for us
to anticipate the future.
I’m delighted to share with you Kantar’s
Vietnam Insight Collection 2022 to provide
you a comprehensive read on the impacts
of the pandemic in the short term as well as
consumer changes in the long term, which
will support you to reshape business strategies
in 2022 and beyond.
Fabrice Carrasco
Managing Director, Vietnam & Philippines
Senior Director Asia Strategic Initiatives
Worldpanel Division, Kantar Vietnam

4
I N T R O D U C T I O N

5
2022 has been an even more challenging year
than its predecessor, something which we could
not have expected a year ago.
Before we talk about any impact it has had on
your businesses and brands, I want to wish you
all the best. I hope that you are well and have
taken some time among all the chaos to look
after yourself and your loved ones which is of
course so valuable and something we should not
overlook.
The 2022 outbreak of COVID-19 has brought
significant challenges to Vietnam.
The Delta variant caused the fourth coronavirus
wave triggered since late April 2021 and it got
increasingly worse over the next months. The
pandemic has left business really suffering, and
with it, the overall economy of Vietnam which
recorded its largest decline in GDP in more than
two decades.
The good news is that things are slowly
rebounding. At time of writing 75% of the
population has been provided the first vaccine,
with over 55% receiving both doses. This is so
important to avoid any further breakouts.
Vietnam’s rebound is likely to be a gradual one,
with the impact felt into 2022 as we look to a
new normal life next year.
Despite the continued rollout of vaccination,
Vietnamese people remain very concerned about
the economic recovery as well as their financial
situation, which is likely to impact their spending
power and behaviors .
As we continue to spend more time at home
consumers continue to reprioritize their needs
and expectations, which will remain important
at least for the next 6-12 months. This represents
emerging opportunities for businesses to tap into.
With Kantar’s Vietnam Insight Collection 2022,
we would like to invite you to have a look back
at some of our key insights covering (1) the
impact the pandemic had across the key FMCG
sectors, (2) how the retail industry evolved during
the long lockdown period, and (3) as we look
forward, what changes in the upcoming Tet and
2022 we should be aware of in order to shed
some light on future trends.
We are proud to keep you updated on changes
in consumer and shopper behaviors, especially
during these unprecedented and uncertain times.
We hope to continue giving you the valuable
foundation to contribute to your success.
Enjoy reading and wish you a prosperous 2022
ahead!
Peter Christou
Commercial Director,
Worldpanel Division, Kantar Vietnam
Dear Friends
and Partners,

6
Where are our Insight today
coming from?
Continuous and syndicated tracking
records since 2002
Covering the important Ws
Looking from the perspective of SHOPPERS:
Who are my Category/Brand shoppers?
What do my Category/Brand shoppers buy?
Where do my Category/Brand shoppers buy at?
When do my Category/Brand shoppers buy?
How much do my Category/Brand shoppers
pay for? and do my Category/Brand shoppers
buy on Promotion?
Actual real take-
home purchase
towards more
than 100 FMCG
categories.
Over 940,000
purchases annually
in Urban 4 key cities
and Rural Vietnam.

7
At Worldpanel, we measure
the growth of category/ brand/
retailer by this formula
Penetration Spending per
buyer
Frequency Trip size

8
M A C R O & F M C G O U T L O O K

What’s Now?
10
Number of Covid-19 cases hit record high under
wave 4, resulting in impacts on economy, society
and consumer lives
0
5000
10000
15000
20000
25000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
0-Jan
28-Apr
2-M
ay
6-M
ay
10-May
14-May
18-May
22-May
26-May
30-May
3-Jun
7-Jun
11-Jun
15-Jun
19-Jun
23-Jun
27-Jun
1-Jul
5-Jul
9-Jul
13-Jul
17-Jul
21-Jul
25-Jul
29-Jul
2-Aug
6-Aug
10-Aug
14-Aug
18-Aug
22-Aug
26-Aug
30-Aug2
3-Sep
7-Sep
11-Sep
15-Sep
19-Sep
23-Sep
27-Sep
1-Oct
5-Oct
9-Oct
13-Oct
17-Oct
21-Oct
25-Oct
29-Oct
HCMC applied
directive 15 & 16
(in some places)
HCMC applied
directive 10 HCMC imposed
MCO under stricter
directive 16
HCMC banned
people from going
outdoors at night
HCMC began strict social
distancing measures
under directive 11 with
the military manning
several checkpoints
HCMC extended MCO
under stricter directive
16 for 1 month
Daily Confirmed COVID 19 Cases in Vietnam
HCMC banned the
gatherings of more than 20
people at public places
HCMC extended
directive 15
for 2 weeks
HCMC first
implemented social
distancing
Cumulative Death Cases in Vietnam With wave 4’s Historical events in HCMCv
100%
1 dose Fully
vaccinated
79.2%
Vaccinated rate in HCMC (updated to 31 Oct)
Source: Vietnam briefing | Vnexpress MCO*: Movement control order

What’s Now?
11
The wave 4 has caused deep
economic impacts across APAC
Among the Asian countries, China has covered 75%,
Malaysia is at 71% and Cambodia is at 75%.
Source: Worldometers; IMF; Reuters; Kantar COVID-19 Global Barometer
https://vneconomy.vn/tang-truong-gdp-ca-nam-2021-du-bao-chi-dat-1-9.htm
Q22. Thinking about your household income, that is the income of everyone in your household, which one of these
statements comes closest to your current situation? - *Global % includes countries tracked in the Barometer Wave 9
Global Philippines Indonesia India Vietnam Thailand Singapore Korea Australia Japan
2021 GDP
growth forecast
6.9% 4.3% 12.5%
3.5-4%
from 6.5%
early 2021
2.6% 5.2% 3.6% 4.5% 3.3%
% HH income
impacted
(Apr 2021)
56%* 82% 82% 73% 72% 67% 41% 37% 37% 24%
% PIB related to
Tourism
13% 4% 5% 9% 20% 11% 5% 3% 8%
% fully
vaccinated
(Nov 2021)
24% 25% 6.7% 11% 41% 80% 77% 67% 74%
<2% from
6.5% early
2021
53.99%

What’s Now?
12
Impact: Economic situation
& employment
The huge outbreak of wave 4 bring many challenges for the country, resulting
in a sharp GDP decline in Q3 and a high pressure on some economic areas
such as employment, export & investment coupled with an increase of CPI.
Thanks to lifting restrictions and reopening society in early October, Vietnam
economy is expected to recover gradually in the coming months and sustain
a GDP growth of +3.5-4% in 2021.
Reuters
Around 90,000 businesses suspended operations or went
bankrupt in the January-September period, the GSO
said. Among them, 32,400 were dissolved, up 17.4% from
a year earlier.
It said the unemployment rate rose to 3.43% in the third
quarter from 2.40% in the second quarter.
According to the GSO, exports in September likely fell
0.6% from a year earlier to $27 billion and the industrial
production index dropped 5.5%.
GDP
2021 forecast:
<2%
CPI
2021 forecast:
<+3%
Macro Matters
Vietnam posts record GDP slump
in Q3 due to COVID-19 curbs
2.6
4.5 4.5
6.6
-6.2
Q3'20 Q4'20 Q1'21 Q2'21 Q3'21
7.0
2.9
1.4
2019 2020 YTD
2021
2.8
3.2
1.8
2019 2020 YTD
2021
3.2
1.4
0.3
2.7
2.5
O3'20 Q4'20 Q1'21 Q2'21 Q3'21
Source: Reuters
Source: GSO https://www.gso.gov.vn/en/data-and-statistics/2021/10/socio-economic-situation-in-the-third-quarter-and-nine-months-of-2021/
VOV https://vov.vn/kinh-te/kinh-te-viet-nam-khong-the-chi-mai-lo-phong-thu-874461.vov
https://vneconomy.vn/tang-truong-gdp-ca-nam-2021-du-bao-chi-dat-1-9.htm

What’s Now?
13
Impact: Consumer perspective Consumer confidence on economic situation is still impacted compared
to normal level, even if we see slighter improvements starting from mid
September.
The economic situation will be better or the
same as today in the next 12 months
Start of
Wave 1
Start of
Wave 4
88 84
42
80
62
74
81
60
65
Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'21 Q2'21 Q3'21
Source: Worldpanel Division | Consumer Confidence Survey | Urban Vietnam 4 key cities | MAT Q2’21 | Field work from 6 – 20 September
% Vietnamese households agree in Urban 4 key cities

What’s Now?
14
Impact: Consumer perspective In terms of financial health, over half of households now struggled financially,
reaching an all-time high over the past three years, triggering further needs
for savings, which is most likely to impact their shopping behavior and plan
for coming Tet.
How do you evaluate the current financial
situation of your Household?
Financial constraint arises significantly across
income groups in both HCMC & Hanoi. The
lower income the more pessimistic.
1st COVID
impact
Recent
COVID
impact
Stricter
lockdown
measures
% Vietnamese households agree in Urban 4 key cities
8 6 6 5 6 5 7 4 2
20
17
10 13 12 15
16
11
8
57
59
51
53
47
51
52
45
37
14 17
27
25
29
26
23
33
37
1 2 7 4 5 4 3 7
17
Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021
We are not doing well at all
We need to deprive ourselves sometimes
It comes out correctly
We have enough money to allow us some
extras once in a while
No financial worries, we don’t need to pay
attention

What’s Now?
15
Impact: Consumer perspective In line with economic situation, concerns over income & job security and food
price continue escalating drastically while food safety and pollution which
were used to be among the top concerns fall much behind in priority rank
Currently what do you consider to be the
biggest concerns you and your household
is likely to face?
0
10
20
30
40
50
60
Disease /
Sickness
HH Income Job security Food Safety Cost of Food Increasing costs Natural Disaster Environmental
Pollution
Price of Oil Diseases in
livestock
%
Key
Decision
Maker
Agree
Q3_2020
Q2_2021
Q3_2021

What’s Now?
16
Impact: Consumer spending Consumers continue to prioritize for Food as one of the most essential items
which is the key source of recovery growth of domestic demand.
Retail Sales of Consumer Goods & Services Consumer Goods - By Sectors
Monthly Growth – YoY – GSO Vietnam YTD Sep’21 – YoY – GSO Vietnam
-6.6
-19.8
-33.7
6.5
-40
-30
-20
-10
0
10
20
30
40
Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Jul-21 Aug-21 Sep-21
Recent
COVID
impact
Some
restrictions
eased
YTD Sep’21 vs YA: -7.1%
Source: GSO Vietnam
4.1
-12.6
-10.4
-6.2
-20.0 -10.0 0.0 10.0
Food
Households Appliances
Garment
Vehicles & spare parts
YTD Sep'20 YTD Sep'21

What’s Now?
17
FMCG spending on in-home consumption surges in reaction
to the complicated turns of COVID-19, especially in Urban,
yet start to return to pre-pandemic level
Index vs pre-covid week (average week of April 2019)
– Weekly FMCG spending (Urban 4 key cities)
Week
ending
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities & Rural Vietnam
80
90
100
110
120
130
140
150
160
170
180
7-Apr
28-Apr
19-M
ay
9-Jun
30-Jun
21-Jul
11-Aug
1-Sep
22-Sep
13-Oct
3-Nov
24-Nov
15-Dec
5-Jan
26-Jan
16-Feb
8-Mar
29-Mar
19-Apr
10-May
31-M
ay
21-Jun
12-Jul
9-Aug
30-Aug
20-Sep
11-Oct
1-Nov
22-Nov
13-Dec
3-Jan
24-Jan
14-Feb
7-M
ar
28-Mar
18-Apr
9-May
30-M
ay
20-Jun
11-Jul
1-Aug
22-Aug
12-Sep
3-Oct
2020 2021
2019
Wave 1 Wave 2 Wave 4
Tet
period
Tet
period
Wave 3
Urban 4 key cities
Rural
10-Oct

What’s Now?
18
Packaged Food and Dairy benefit the most from the
“stay-home” economy while Beverage suffers again despite
a slight recovery in early 2021
% Value growth of FMCG by sectors
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam & Rural Vietnam | Data updated September 12th 2021
URBAN 4 CITIES RURAL
Dairy
Beverages
Packaged Food
Personal Care
Home Care
8
-3
14
0
3
-18
19
-3
52
9
-1
-14
4 3
-17
2020 H1'21 12 we Sep 2021
11
3
11
1 1 1
12
1
12
17
10
17
10
0
10
2020 H1'21 12 we Sep 2021

What’s Now?
19
Cooking Aids & Instant Foods are remarkably getting more
relevance, leading the growth of Packaged Foods
Top 20 fastest growing categories in wave 4 of COVID-19
(Based on value change vs YA – 12 we 15/8/2021)
Dairy
Beverages
Packaged Food
Personal Care
Home Care
1 Hybrid Drink
2 Canned Food
3 Pasta
4 Instant Noodle
5 Mayonnaise
6 Rice Soup
7 Processed Sausage
8 Packaged Bread
9 Margarine
10 Soya Sauce
11 Ketchup
12 Biscuits & Cakes
13 Hand Washing
14 Sugar
15 Confectionary (candy)
16 Oyster Sauce
17 Meal Maker
18 Chilli Sauce
19 Granules
20 Drinking Yogurt
1 Hybrid Drink
2 Canned Food
3 Hand Washing
4 Pasta
5 Sugar
6 Instant Noodle
7 Diaper
8 Chilli Sauce
9 Sanitary Protection
10 Cup Yogurt
11 Toilet Cleaner
12 Rice Soup
13 Shampoo
14 Cooking Oil
15 IFT Milk Powder
16 Drinking Yogurt
17 Dishwashing Liquid
18 Granules
19 Liquid Milk
20 Biscuits & Cakes
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam & Rural Vietnam | Data updated August 15th 2021

What’s Now?
20
However, not all brands are winning. Brands need to
continuously ensure products’ presence and highlight their
differentiation
Top 5 brands’ share
Stock whatever brands
Low differentiation between brands
stock whatever available.
Wave 1 to Big brands but no longer
Strictness in movement control and increasing
panic level open doors for smaller ones
Big Brands wins
Strong availability for top brands, with
strong loyalty support from consumers
2019 COVID Wave 1
(Mar+Apr'20)
H2'20 COVID Wave 4
(Jun+Jul+Aug'21)
Stock whatever brands
Wave 1 to Big brands but no longer
2019 COVID Wave 1
(Mar+Apr'20)
H2'20 COVID Wave 4
(Jun+Jul+Aug'21)
Big Brands wins
2019 COVID Wave 1
(Mar+Apr’20)
COVID Wave 4
(Jun+Jul_Aug’21)
H2’20 2019 COVID Wave 1
(Mar+Apr’20)
COVID Wave 4
(Jun+Jul_Aug’21)
H2’20 2019 COVID Wave 1
(Mar+Apr’20)
COVID Wave 4
(Jun+Jul_Aug’21)
H2’20
Sugar Pasta
Canned
Food
Processed
Sausage
Soya
Sauce
Liquid
Milk
Instant
Noodle
Juices
Cooking
Oil
Toothpaste
Sanitary
Protection
Fish Sauce
Instant
Coffee
Dishwashing
Liquid
Floor
Cleaner
Hand
Washing
Mouth
Rinse

What’s Now?
21
Minimart and online surges in 2020 and continue growth in
H1’21. The growth is even more accelerated in wave 4 with
stricter movement control
% Value growth of FMCG by channel (Urban 4 key cities)
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam | Data updated September 12th 2021
30.5
7.6
89.6
60.4
48.2
63.3
-80.0
-60.0
-40.0
-20.0
0.0
20.0
40.0
60.0
80.0
100.0
2020 H1'21 12 we P9'21
All Retailers Street Shops Wet Market Hyper & Super Minimarket Online

in the new normal?
W H A T ’ S N E X T ?

What’s Next?
23
Shoppers’ spending power has been consistently increasing
over the P5Y. Will it continue to happen in 2022?
What’s next in 2022?
FMCG Monthly Spending (000VND/houshold)
1,395 1,390 1,425
1,488
1,555
762
806
856
904
974
2017 2018 2019 2020 YTD P8'21

What’s Next?
24
The working from home post pandemic effect is likely to
increase CPG take-home growth by at most 2% points
Basis: 31 country average not size weighted where Q2 with highest CPG growth used to estimate full lockdown;
Semi-open estimate is minimum quarterly growth in second half of 2020.
Applying linear daily rates e.g. 4 at home instead of 7. 2 days for illustration – no hard evidence available today
Average Annual
Total CPG
Growth
Full | Stay at Home |
Essential Shops Only Open
COVID-19
POST-COVID
Semi–Open | Stay Vigilant |
All Shops Open with COVID restrictions
From 5 to 2 days working from home |
With Semi-Open Growth Applied
Pre-Pandemic (2019 v 2018)
(typical average growth rate)
Expectation: more eating-out locallyand increasing use of
food delivery services of all kinds
Average Increase in CPG growth
Source: Winning Omnichannel 2021 - https://www.kantarworldpanel.com/cn-en/publications/Reports
0% 2% 4% 6% 8% 10% 12% 14% 16%
Min ---------- Max
1.9% 3.3% 12.8%

What’s Next?
25
Market dynamics that are still relevant after Wave 4 ...
Priorization on
Essential items
1 2
Fiercer Innovation
landscape
3
Home is the
new store

What’s Next?
26
#1 |
Priorization on
Essential items
Although more and more items are adopted, shoppers at the
same time are deprioritizing a list of non-essential categories.
This results in not much change in number of FMCG
categories per household
Average No. of Category Bought per Household
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam Rural Vietnam | Data updated August 15th 2021
2017 2018 2019 2020 MAT
Aug 2021
42.8 42.9
41.9 42.0
2016
43.0 42.8
2017 2018 2019 2020 MAT
Aug 2021
33.0
33.1
33.0
33.2
2016
33.7 33.5

Macro FMCG Outlook
What’s Next?
27
#1 |
Priorization on
Essential items
Not all categories can recruit more buyers at the same
speed as before ...
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam | Data updated August 15th 2021
RTD Tea,
DKY,
RTD coffee,
nut-based drink
Packaged Bread, Instant
Congee. sausage
Oyster sauces, ketchup
Bottle Water,
Juices,
Snack Nuts
Liquid TFD,
RTD GUM
Pasta (Non-seasoned
noodles pasta),
Sweetened Condensed,
Instant Coffee
Magarine
Category Penetration change
% CAGR growth of Food sector
2019 vs 2018
Average number category bought
MAT P8’21
vs YA
FOOD SECTOR
2017 2018 2019 2020 MAT
Aug 2021
26.8 26.9
26.4 26.7
2016
27.5 27.8
4.8 4.6
2017-2020 MAT Aug 2021
-3
-2
-1
0
1
2
3
4
5
6
7
-6 -4 -2 0 2 4 6 8
Growth
Upholder
COVID
Accelerator
Hindered

Macro FMCG Outlook
What’s Next?
28
#1 |
Priorization on
Essential items
More and more buyers are lapsing out of Personal Care
categories, especially for Beauty items
Box tissue
Toilet cleaner
Glass Cleaner
Bar soap, Deodorant
Sun Protection
Lipstick
Eye make-up
Facial Cleanser/Make-
up Remover
Hair Colorant
Hand Sanitizer, Mouth
Rinse
Category Penetration change
% CAGR growth of Non-Food sector
2019 vs 2018
Average number category bought
MAT P8’21
vs YA
NON-FOOD SECTOR
2017 2018 2019 2020 MAT
Aug 2021
16.0 16.0
15.5
15.4
2016
15.5
15.0
7.4
5.5
2017-2020 MAT Aug 2021
-4
-3
-2
-1
0
1
2
3
4
5
-7 -5 -3 -1 1 3 5
Growth
Upholder
COVID
Accelerator
Hindered

Macro FMCG Outlook
What’s Next?
29
#2 |
Fiercer Innovation
Landscape
FMCG witnesses new news in every hour. In 2020, there are ~
10 thousands of new products being launched which is 20%
higher than last year
• New launches are counted based on new brand, variant, pack size, pack type
• Relaunches are included
• These launches/relaunches are not necessarily recorded in HH Panel.
Source: Worldpanel Division | Household Panel | Urban 4 key cities | FMCG 2020
5,909 7,845 8,238 9,998
16.2 21.5 22.6 27.4
new launches new launches new launches new launches
new bees/day new bees/day new bees/day new bees/day
2019
2018 2020
2014 2019
2018 2020
2014

Macro FMCG Outlook
What’s Next?
30
#2 |
Fiercer Innovation
Landscape
A minimum requirement of 3.1% Penetration and 21.7%
Repeated Rate is needed for your NPDs to be considered
successful
And only 1 out of 10 NPDs are able to
perform beyond the benchmark
3.1%
4.6%
21.7%
25.5%
Trial and Repeat Rate benchmark
for the first year
# of NPDs meeting the Trial or Repeat Rate
benchmark for the first year
(in 2020)
(in 2014)
Trial Rate Repeat Rate

Macro FMCG Outlook
What’s Next?
31
#3 |
Home is the new store Buyers have a wider choice in shopping destination,
opportunity for emerging channel to further growth and the
importance for manufacturers/ brands to be omnipresent
Nearly 1/3 of households in
Urban 4 key cities shop in at
least 7 channels per year.
URBAN 4 CITIES
12.9 13.1 11.8 11.3
33.7 30.6 29.2 29.1
30.8 33.7
31.3 30.7
17.6 17.5
19.5 20.8
5.6 5.9 8.9 8.7
2018 2019 2020 MAT Aug
2021
3 channels
3-4 channels
5-6 channels
7-8 channels
9 channles

Macro FMCG Outlook
What’s Next?
32
Buyers have a wider choice in shopping destination,
opportunity for emerging channel to further growth and the
importance for manufacturers/ brands to be omnipresent
Minimarket performance
% Buyers
% Buyers % Buyers
Frequency
Frequency Frequency
0
2
4
6
8
10
12
14
16
0
10
20
30
40
50
60
70
80
2016 2017 2018 2019 2020 MAT
P8'21
0
1
2
3
4
5
6
7
8
0
5
10
15
20
25
2016 2017 2018 2019 2020 MAT
P8'21
#3 |
Home is the new store

Macro FMCG Outlook
What’s Next?
33
Online is expecting to continue gaining share. In mature
markets such as China or Korea, Online now contributes up
to ~ 30% market value
Source: Asia Omnichannels 2021 – Module 1
Bubble Size = Online Frequency
Indonesia
Thailand
Vietnam Urban
Vietnam Rural
China
Korea
Taiwan
0
5
10
15
20
25
30
0 10 20 30 40 50 60 70 80 90 100
Online
Share
of
FMCG
Online
penetration
Online performance across markets
#3 |

Macro FMCG Outlook
What’s Next?
34
Online is an important channel for Personal Care categories
and emerging for Homecare products, esp. for detergent
Top 4 outperforming categories in Online for in-home FMCG
purchase base on…
The highest penetration
(in MAT Aug 2021)
Shampoo Shampoo
Detergent
Facial Moisturizer Facial Cleanser
Facial Cleanser
Detergent Biscuits Cakes
The fastest growing penetration
(Gaining points - MAT Aug 2021 vs YA)
11.9
10.0
+4.6
+3.4
11.5
9.4
+4.4
+3.1
#3 |

Macro FMCG Outlook 35
What have we cover so far?
•
The ongoing Covid wave has many negative impacts on
Vietnam economy in many different aspects.
•
Under the strict social distancing measures, people are not
allowed to leave their homes in many areas, which result
in massive increase of take-home FMCG spend coming
from higher in-home consumption demand and especially
higher need of stocking up.
•
In FMCG, Packaged food has been purchased more the
most and is followed by Dairy based products. Meanwhile,
personal care and beverage are always the 2 sectors
suffering from covid impact.
•
Top growing categories are mostly cooking aids,
convenient food, RTD milk and hygiene related ones. The
changes in brand choice in each category are dependent
mostly on the level of stocking up and product availability.
•
Minimarket and online channel, with many advantages
in terms of accessibility and delivery capacity, has been
accelerating during lockdown period.
•
FMCG is expected to grow in coming year and there
are different growth scenarios which depend on Covid
situation and level of mobility.
•
Shoppers will go shopping less often and spend more per
trip, which indicates both challenges and opportunities for
brands in terms of capturing shoppers in stores.
•
Although people are spending more, they are not buying
more categories. However, their chosen category list is
changed and will be changed in coming time as people
might have new habits, new needs post Covid.
•
Brands keep innovating and shoppers are having many
more choices. Therefore; new products face more
challenges to attract shoppers and existing brands also
have more difficulties to sustain shopper loyalty.
•
Channel landscape continues to change with the
impressive growth from Minimarket and E-commerce.
These 2 channels will soon be new reality in Rural as well.
What’s
Now?
What’s
Next?

Nutritional Drinks
What’s Now?
36
N U T R I T I O N A L D R I N K S

Nutritional Drinks 37
Before we jump into the
Nutrition market…
What are in Nutrition?
Nutrition includes Dairy-based products and Dairy Alternatives
such as plant-based, chocolate malt-based products.
OTHER
FORMAT
LIQUID
FORMAT
LIQUID MILK
RTD GUM
LIQUID CHOCOLATE-MALT-BASED (Liquid CMB)
DRINKING YOGURT
FRUITY MILK
SOYA MILK
LIQUID RNGS (Rice, Nuts, Grains, Seeds exclude Soy)
MILK POWDER FOR KID
MILK POWDER FOR ADULT
CUP YOGURT
CONDENSED MILK
POWDER CHOCOLATE-MALT-BASED (Powder CMB)

Nutritional Drinks
What’s Now?
39
Higher spending as well as bigger trip size for
each shopping trip drive the growth of Nutrition
Weekly Nutrition – Index vs pre-covid week (average week of April 2019)
2020 2021
2019
50
60
70
80
90
100
110
120
130
140
150
160
170
5-May
2-Jun
30-Jun
28-Jul
25-Aug
22-Sep
20-O
ct
17-Nov
15-Dec
12-Jan
9-Feb
8-M
ar
5-Apr
3-May
31-May
28-Jun
2-Aug
30-Aug
27-Sep
25-Oct
22-Nov
20-Dec
17-Jan
14-Feb
14-M
ar
11-Apr
9-M
ay
6-Jun
4-Jul
1-Aug
Week
ending
Tet
period
Tet
period
Wave 1 Wave 2 Wave 3 Wave 4
2020 2021
2019
50
60
70
80
90
100
110
120
130
140
150
160
170
5-May
2-Jun
30-Jun
28-Jul
25-Aug
22-Sep
20-O
ct
17-Nov
15-Dec
12-Jan
9-Feb
8-M
ar
5-Apr
3-May
31-May
28-Jun
2-Aug
30-Aug
27-Sep
25-Oct
22-Nov
20-Dec
17-Jan
14-Feb
14-M
ar
11-Apr
9-M
ay
6-Jun
4-Jul
1-Aug
Week
ending
Tet
period
Tet
period
Wave 1 Wave 2 Wave 3 Wave 4
Penetration % Frequency Spend per trip No. unit per trip

Nutritional Drinks
What’s Now?
40
Across cities and regions, spending for Nutrition increases
significantly during Covid Waves. Central areas where the
pandemic hit heavily last year, are slowing down in terms of
growth during the first 6 months of 2021
% Value growth of Nutrition Segment by cities/ regions (vs YA)
2020 H1’21 12 we Aug 2021
8 7
10
13
11
4
-4 -3
-12
11
13
11
16
12
21
-15
-10
-5
0
5
10
15
20
25
Total Urban 4
cities
HCMC Hanoi Danang Cantho
10
8
17
7
3
9
0 1
12 13
5
16
-15
-10
-5
0
5
10
15
20
25
Total Rural North Central South
7
10
13
11
4
-4 -3
-12
11
13
11
16
12
21
Urban 4
ies

Nutritional Drinks
What’s Now?
41
In that context, Households with higher income spend more
on Nutrition, reflected by the significant growth of last year
and the latest 3 months
% Value growth of Nutrition Segment by income (vs YA)
2020 H1’21 12 we Aug 2021
8
6
10
4
-1
-3
13
14
16
Total Urban 4 cities HH income 17
million VNĐ
HH income 17
million VNĐ
10
6
14
3
-1
6
12
9
14
Total Rural HH income 7
million VNĐ
HH income 7
million VNĐ
8 7
10
13
11
4
-4 -3
-12
11
13
11
16
12
21
l Urban 4
cities
8
6
10
4
-1
-3
13
14
16
million VNĐ
HH income 17
million VNĐ
8
6
10
4
-1
-3
13
14
16
million VNĐ
HH income 17
million VNĐ

Nutritional Drinks
What’s Now?
42
Besides, spending on Nutrition among households with small
kids usually increases during Covid Waves in both areas. The
difference appears when coming to families with bigger kids
the mature ones
% Value growth of Nutrition Segment by child presence (vs YA)
2020 H1’21 12 we Aug 2021
8 8
1
16
4
-6
2
-5
13
11
19
10
Total Urban 4
cities
HH with
kid 4 YO
HH with
kid 4-12 YO
HH without kid
= 12 YO
10 11
2
19
3
5
-1
3
12
24
-3
-1
Total Rural HH with
kid 4 YO
HH with
kid 4-12 YO
HH without kid =
12 YO
7
10
13
11
4
-4 -3
-12
11
13
11
16
12
21
rban 4
ies
8
6
10
4
-1
-3
13
14
16
million VNĐ
HH income 17
million VNĐ

Nutritional Drinks
What’s Now?
43
Convenience, immunity booster,
added nutrients are more chosen
Liquid Format % Value growth of RTD (Ready-to-drink) Nutrition (vs YA)
Liquid Milk
Fruity Milk Soya Milk Liquid CMB
RTD GUM Drinking Yogurt Liquid RNGS
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
Urban 4 key cities
Rural
2020
H1’21
12 we Aug 2021

Nutritional Drinks
What’s Now?
44
For Non-liquid format, Milk Powder and Sweetened
Condensed Milk are stocked the most. Another category
is on the rise in Wave 4 is Cup Yogurt, emphasizes the
importance of immune system health in the uncertainty
Non-liquid Format % Value growth of Nutrition (vs YA)
Milk Powder for Adult Milk Powder for kids Sweetened Condensed Milk Cup Yogurt Powder CMB
2020 H1’21 12 we Aug 2021
Urban 4 key cities Rural

Nutritional Drinks
What’s Now?
45
Compared to last year, the restriction on people going out lasted
longer, GT formats temporarily stopped serving leading to a higher
demand for shopping at MT channels. For nutrition, minimarkets,
MT mom and baby shop chains and Online benefited the most
Urban 4 Cities % Value growth of Nutrition Segment by channel (vs YA)
8
-4
13
5
-6
9
17
-13
-35
-7
10 10
17
-14 -14
15
3
69
39
7
79
58
31
51
2020 H1'21 12 we Aug 2021
All Retailers Street Shops Wet Market Dairy Specialty Hyper Super Minimarket MT Baby Product Specialty Online
8
-4
13
5
-6
9
17
-13
-35
-7
10 10
17
-14 -14
15
3
69
39
7
79
58
31
51
2020 H1'21 12 we Aug 2021
All Retailers Street Shops Wet Market Dairy Specialty Hyper Super Minimarket MT Baby Product Specialty Online

Nutritional Drinks
What’s Now?
46
Within MT channels, with such tremendous growth, small MT
formats suddenly have a transformation in terms of position
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam
Urban 4 Cities Nutrition Drinks - % Value share by channel
0
2
4
6
8
10
12
14
16
18
20
Jan-19
Feb-19
M
ar-19
Apr-19
M
ay-19
Jun-19
Jul-19
Aug-19
Sep-19
O
ct-19
N
ov-19
Dec-19
Jan-20
Feb-20
M
ar-20
Apr-20
M
ay-20
Jun-20
Jul-20
Aug-20
Sep-20
O
ct-20
N
ov-20
Dec-20
Jan-21
Feb-21
M
ar-21
Apr-21
M
ay-21
Jun-21
Jul-21
Aug-21
Hyper Super
Minimarket
MT Baby Product Specialty
Online
2019 2020 2021
Tet
period
Tet
period
Tet
period
Wave 3

Nutritional Drinks
What’s Next?
48
Consumption
development
1 2
Innovation for
growth
3
Channel choice

Nutritional Drinks
What’s Next?
49
Nutrition market has been growing over
5 years, mostly driven by Rural
Nutrition market - Spend per household each month (000 VND)
Nutrition market - Volume per capita each month (L)
467 450 434 451 468
-
5 0
1 0
0
1 5
0
2 0
0
2 5
0
3 0
0
3 5
0
4 0
0
4 5
0
5 0
0
2016 2017 2018 2019 2020
205 209 226 249 266
-
5 0
1 0
0
1 5
0
2 0
0
2 5
0
3 0
0
3 5
0
4 0
0
4 5
0
5 0
0
2016 2017 2018 2019 2020
467 450 434 451 468
-
5 0
1 0
0
1 5
0
2 0
0
2 5
0
3 0
0
3 5
0
4 0
0
4 5
0
5 0
0
2016 2017 2018 2019 2020
205 209 226 249 266
-
5 0
1 0
0
1 5
0
2 0
0
2 5
0
3 0
0
3 5
0
4 0
0
4 5
0
5 0
0
2016 2017 2018 2019 2020
2.8 2.7 2.6 2.6 2.7
0.0
1.0
2.0
3.0
2016 2017 2018 2019 2020
1.6 1.7 1.8 1.8 1.9
0.0
1.0
2.0
3.0
2016 2017 2018 2019 2020
2.8 2.7 2.6 2.6 2.7
0.0
1.0
2.0
3.0
2016 2017 2018 2019 2020
1.6 1.7 1.8 1.8 1.9
0.0
1.0
2.0
3.0
2016 2017 2018 2019 2020
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Rural Vietnam

Nutritional Drinks
What’s Next?
50
Consumer’s nutrition basket has been stable in terms of the number
of categories. Besides, value spending for nutrition categories are
quite similar between areas
Nutrition market - Value share by categories
Nutrition market - Number of Cat per household
5.0 4.8 5.1
-100.0
0.0
5.0
10.0
2015 2018 2020
4.0 4.0 4.1
0.0
0.0
2.0
4.0
6.0
2015 2018 2020
11%
28%
28%
6%
5%
8%
4%
6% Milk Powder for Adult Milk Powder for Kid
Liquid Milk Sweetened Condensed Milk
Drinking Yogurt Cup Yogurt
RTD GUM Fruity Milk
Soya Milk Powder CMB
Liquid CMB Liquid RNGS
9%
25%
27%
5%
6%
4%
9%
6%
5%
11%
28%
28%
6%
5%
8%
4%
6% Milk Powder for Adult Milk Powder for Kid
Liquid Milk Sweetened Condensed Milk
Drinking Yogurt Cup Yogurt
RTD GUM Fruity Milk
Soya Milk Powder CMB
Liquid CMB Liquid RNGS

Nutritional Drinks
What’s Next?
51
Zoom into each demographic group, there’s a huge gap in
spending level, generate an opportunity for consumption
development by different demographic groups
Spend per household per year (000 VND) - 2020
By Income
By Child Presence
3.9
5.1
6.1
7.3
2020
HH income
10 mil
HH income
10-17 mil
HH income
17-26 mil
HH income
26 mil
2.0
3.1 3.3
4.7
2020
HH income
4 mil
HH income
4-7 mil
HH income
7-12 mil
HH income
12 mil
11.4
5.6
3.0
-
5.0
10.0
15.0
20.0
2020
HH with kid
4 YO
HH with kid
4-12 YO
HH without
kid 12 YO
7.2
2.9
1.4
-
5.0
10.0
15.0
20.0
2020
HH with kid
4 YO
HH with kid
4-12 YO
HH without
kid 12 YO

Nutritional Drinks
What’s Next?
52
In this context, Drinking Yogurt,
RTD Gum RNGS Liquid are
categories that have grown
well over the years and still
have room to expand their
buyer base in the future
Nutrition Categories performance – MAT Aug’21
*CAGR 3 years = Compound Annual Growth rate using historical data of market value in the last 3 years to calculate
Categories CAGR in 3 years % Penetration
Adult Milk Powder +3% 28
IFT Milk Powder +3% 24
Liquid Milk +1% 89
RTD GUM +5% 13
Sweetened
Condensed Milk
+3% 86
Drinking Yogurt
Fruity Milk
+15% 59
Cup Yogurt 0% 80
Powder TFD +4% 21
Liquid TFD +3% 46
Soya Milk -2% 45
Liquid RNGS +31% 17
CAGR in 3 years % Penetration
+10% 22
+6% 22
0% 73
+11% 17
+1% 68
+19% 43
-1% 51
+1% 10
+3% 33
-1% 54
+8% 6
Urban 4 Key Cities Rural
The growth recipe of these 3 categories is the
continuous effort of launching new products
from manufacturers

Nutritional Drinks
What’s Next?
53
Although not as many new launches as other sectors, innovations in
the nutrition industry have also reached remarkable achievements
focusing on new brands, new flavors, less/no sugar variants
Number of New launches by sectors
(number in blanket is % growth vs YA)
Common characteristics of successful new
products within Dairy sector
New brands Less sugar
New Flavor
3835
3274
1211
882 796
Personcal
Care
Packaged
Foods
Beverages Home
Care
Dairy
(+19%)
(+55%)
(+16%)
(+18%)
(+16%)

Nutritional Drinks
What’s Next?
54
New brands help develop
market, especially for the
developing categories
NEW BRANDS
% source of volume growth
65
35
Urban
4 Cities
70
30
89
11
Urban
4 Cities
Rural
72
28
77
23
Urban
4 Cities
Rural
Kun Fruity Milk
Kun CMB
Dalat Milk UHT Milk
Market development
Winning category's
competitors
Market development
Winning category's
competitors
List of products from left to right based on
increasing penetration % of the category

Nutritional Drinks
What’s Next?
55
94
6
Less Sugar plays the role
of expanding the market,
category with bigger
buyer base shows this role
even more clearly
LESS SUGAR
List of products from left to right based on
increasing penetration % of the category
% source of volume growth
Urban
4 Cities
Fami Less Sugar
Milo Less Sugar
TH True Milk Less Sugar
Market development
Winning category's
competitors
Market development
Winning category's
competitors
58
42
28
72
Urban
4 Cities
Urban
4 Cities

Nutritional Drinks
What’s Next?
56
Among the top successful
product launches, new flavors
are popular, helping to keep
the brand fresh in the eyes
of consumers. However, there
are very few flavors that still
increase the penetration after
2-3 years launched, requiring
constant innovation from
manufacturers
NEW FLAVOR Top successful launches after 1 year launched
VNM black rice yogurt
Vinamilk ADM banana
Vinamilk oc cho
Probi blueberry
Yomost mint blueberry
Vinamilk aloe vera
Susu IQ apple grape
Fami Go
VNM strawberry yogurt
Among successful launches, only 10% can maintain the
buyer base until now

Nutritional Drinks
What’s Next?
57
Buyers have a wider choice in shopping destination, opportunity
for emerging channel to further growth and the importance for
manufacturers/ brands to be omnipresent
Urban 4 Cities
% shopper
12.9 13.1 11.8 11.3
33.7 30.6 29.2 29.1
30.8 33.7
31.3 30.7
17.6 17.5
19.5 20.8
5.6 5.9 8.9 8.7
2018 2019 2020 MAT Aug
2021
3 channels
3-4 channels
5-6 channels
7-8 channels
9 channles
Nearly 1/3 of households in
Urban 4 key cities shop in at
least 7 channels per year.

Nutritional Drinks
What’s Next?
58
In which, Households buying more than 7 types of stores
have a more diverse and higher spending on Nutrition
shopping basket
Urban 4 Cities % Value share by channel
56.2 54.2 53.0
64.3 62.8 60.5
52.9 51.5 51.1
9.0 8.7 8.7
6.8 7.1
7.1
8.2 8.4 7.9
7.3 7.0 6.8
9.3 8.4 9.0
15.6
4.8
4.6 4.4
4.8 4.5 5.4 2.5 2.8
2.8
14.1
14.6 13.7
9.2 10.8 10.5 11.1 10.7
10.5
5.0 6.0 6.6
5.1 5.8 6.1
3.5 3.8
4.1
1.3 1.6 1.9 3 4.2 5.4
2.3 3.2 4.8 2.3 3.1 4.3
MAT 19 MAT 20 MAT 21 MAT 19 MAT 20 MAT 21 MAT 19 MAT 20 MAT 21
Online
MT mom baby shop
Minimarket
Hyper Super
Other GT
Specialty Stores
Wet market
Street shop
FMCG Nutrition Liquid Format Nutrition Non-Liquid Format

Nutritional Drinks 59
•
Nutrition’s healthy growth is fueled by higher spending and
larger trip sizes. This shopping behavior have been witnessed
in recent years, even enhanced by the emergence of Covid 19
as social distancing restricts people from going out.
•
Being considered as a necessary category, nutritional needs
are growing strongly cities and regions, with increasing
spending by High Income Groups Families with small
children
•
For Mature Families who have lower expenditures on nutrition
compared to Families with kids, are increasing their spending
on Nutrition especially in Urban areas, presenting an
opportunity for offering more nutrition options targeting senior
groups.
•
Leading the growth of Nutrition are RTD Gum, Drinking
Yogurt, Fruity Milk Liquid RNGS for Liquid Format while Milk
Powder, Sweet Condensed Milk and Cup Yogurt affirm their
position in Non-Liquid nutrition basket
•
Small MT format Online are more chosen by meeting safe
grocery shopping needs
•
Over 5 years, nutrition market has been growing by both
spending and consumption per capita, especially for Rural
Vietnam where there is still room to grow further.
•
Consumer’s nutrition basket has stabilized in terms of the
number of categories and value spending, indicates that
interaction between nutrients exists. Besides that, top growing
categories have their own recipe for expansion, which is the
effort of innovation and leveraging the emerging channels to
gain consumer’s choices.
•
In terms of innovation, the top launches in Nutrition market
mostly belong to new brands, new flavors, and less sugar.
Each of these innovation types has its own role in developing
not only the portfolio but also the category. Hence, deeply
understanding the “now” of a brand to find out the ”next”
stage of development is pivotal.
•
Not only capturing the growth of MT small format Online,
multi-channel shoppers also appear as an opportunity for
Nutrition market with both higher spending power and the
diversity of category in their basket.
What’s
Now?
What’s
Next?

Hygiene products
What’s Now?
60
H Y G I E N E P R O D U C T S

Hygiene products 61
What is in Hygiene sector?
Home Care Personal Care Tissue Napkin
Liquid Detergent
Powder Detergent
Fabric Softener
Dish Wash
Floor Cleaner
Insecticide
Bathroom Cleaner
Multi-Purpose Cleaner
Glass Cleaner
Shampoo
Liquid Bath
Toothpaste
Toothbrush
Bar Soap
Mouth Rinse
Feminine Wash
Sanitary Napkins
Toilet Tissue
Box Tissue
Table Napkins
Pantyliner

Hygiene products
What’s Now?
63
As a result of recent spending prioritization, Hygiene Products
(esp. in Urban), is showing a modest spending growth in
COVID Wave 4 after seeing a surge in COVID wave 1
Index vs pre-covid week (average week of April 2019) – Weekly Hygiene Products spending
80
90
100
110
120
130
140
150
160
170
180
7-Apr
28-Apr
19-May
9-Jun
30-Jun
21-Jul
11-Aug
1-Sep
22-Sep
13-Oct
3-Nov
24-Nov
15-Dec
5-Jan
26-Jan
16-Feb
8-Mar
29-Mar
19-Apr
10-May
31-M
ay
21-Jun
12-Jul
9-Aug
30-Aug
20-Sep
11-Oct
1-Nov
22-Nov
13-Dec
3-Jan
24-Jan
14-Feb
7-M
ar
28-Mar
18-Apr
9-May
30-May
20-Jun
11-Jul
1-Aug
Urban
Rural
2020 2021
2019
Tet
period
Tet
period
Wave 3
Week
ending
15-Aug

Hygiene products
What’s Now?
64
As a result of recent spending prioritization, Hygiene Products
(esp. in Urban), is showing a modest spending growth in
COVID Wave 4 after seeing a surge in COVID wave 1
Hygiene products performance across key measures
(% change vs YA)
-0.1
-3.8
-11.0
7.0
1.1
7.9
1.2 0
9.2
H1'21 YTD Aug 2021 12 we Aug 2021
2.7
-5.6
0.1
7.8
4.4
9.6
3.2
1.8
10.4
H1'21 YTD Aug 2021 12 we Aug 2021
Trips
Spend/trip
Volume/trip

Hygiene products
What’s Now?
65
Consumers in most regions still increase spending for Hygiene
Products in recent months although not as fast as 2020 number.
This is not the case for consumers in HCMC and Cantho, this could
be driven by the restriction policy applied in the regions
% Value growth of Hygiene products by cities/ regions (vs YA)
2020
H1’21
12 we Aug 2021
7
5
12
4
0
-3 -3
-5
3 3
-4
-10
5
11
-11
-15
-10
-5
0
5
10
15
Total Urban 4
cities
11
15
12
6
-1
-4
-2
2
10
13
7 8
-15
-10
-5
0
5
10
15
20
25

Hygiene products
What’s Now?
66
The spending drop in Urban is happening across Income
Groups. While in Rural, Low and Mid Low consumers are
driving the growth for Hygiene Products
% Value growth of Hygiene products by income (vs YA)
2020
H1’21
12 we Aug 2021
7
1
12
-3
0
-5
-4
-5
-3
Total Urban 4 cities Low Mid-low HH
income
Mid-high High HH
income
11
15
8
-1
5
-6
10
23
1
Total Rural Low Mid-low HH
income
Mid-high High HH
income

Hygiene products
What’s Now?
67
With people movement restriction, consumers are shifting their
spending to more proximity channels (Ministores and Online),
leading to a slow growth of Big Formats stores (wet markets and
Hyper Super)
URBAN 4 CITIES % Value growth of Hygiene products by channel (vs YA)
7
-3 -4
4 0
6
3
-7
-46
4
-15
-36
30
15
43
95
37
91
2020 H1'21 12 we Aug 2021
All Retailers Street Shops Wet Market Hyper Super Minimarket Online

Hygiene products
What’s Now?
68
As a result of channel choice, Ministores and Online have
become more important in consumers repertoire
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam
URBAN 4 CITIES Hygiene products - % Value share by channel
0
5
10
15
20
25
30
35
Jan-19
Feb-19
M
ar-19
Apr-19
M
ay-19
Jun-19
Jul-19
Aug-19
Sep-19
O
ct-19
N
ov-19
Dec-19
Jan-20
Feb-20
M
ar-20
Apr-20
M
ay-20
Jun-20
Jul-20
Aug-20
Sep-20
O
ct-20
N
ov-20
Dec-20
Jan-21
Feb-21
M
ar-21
Apr-21
M
ay-21
Jun-21
Jul-21
Aug-21
Minimarket Hypermarket Online
Tet
period
2019 2020 2021
Tet
period
Tet
period
Tet
period
Wave 3

Hygiene products
What’s Now?
69
Despite the slowdown at Total level, there are categories remaining
important for consumers. These categories show a consistent
growth in both long term (2020) and recently (L3M Aug 21)
Categories Map based (% Value Growth vs YA)
Short Term Decline (12we Aug vs YA)
Long
Term
Growth
(FY
20
vs
19)
Long
Term
Decline
(FY
20
vs
19)
Short Term Growth (12we Aug vs YA)
• Insecticide
• Detergent
• Multi-Purpose Cleaner
• Bathroom Cleaner
• Liquid Detergent
• Fabric Softener
• Powder Detergent
• Toothbrush
• Pocket Tissue
• Mouth Rinse
• Feminine Wash
• Sanitary Napkins
• Floor Cleaner
• Dish Washing
• Toilet Tissue
• Box Tissue
• Insecticide
• Table Napkins
• Shampoo
• Pantyliner
• Liquid Bath
• Bar Soap
• Toothpaste
• Detergent
• Multi-Purpose Cleaner
• Shampoo
• Pantyliner
• Liquid Bath
• Toothpaste
• Fabric Softener
• Table Napkins
• Bar Soap
• Pocket Tissue
• Powder Detergent
• Mouth Rinse
• Feminine Wash
• Sanitary Napkins
• Floor Cleaner
• Dish Washing
• Toilet Tissue
• Box Tissue
• Glass Cleaner
Urban 4 cities
Rural

Hygiene products
What’s Now?
70
In the context of wave 4, most of the important categories
(esp. in Rural) bounce back after slowing down in H1 of 2021
% Value growth of Hygiene products by category (vs YA)
Floor Cleaner
Sanitary Napkin Feminine Wash Mouth Rinse
Dish Wash Toilet Tissue Box Tissue
Urban 4 key cities
Rural
2020
H1’21
12 we Aug 2021
-1000%
-500%
0%
500%
1000%
1500%
0%
500%
1000%
1500%
0%
200%
400%
600%
800%
1000%
-10000%
0%
10000%
20000%
30000%
-500%
0%
500%
1000%
1500%
2000%
0%
1000%
2000%
3000%
-5000%
0%
5000%
10000%

Hygiene products
What’s Next?
72
Opportunities for Hygiene Products
How to grow
via buyer
recruitment
How to gain
consumers
loyalty
Premiumization
opportunity
through the growth
of smaller brands
Near future
trend

Hygiene products
What’s Next?
73
Hygiene Categories - Avg. Penetration Growth (vs YA)
More new buyers for Hygiene Products last year, however they did
not stay for long, in exception for several categories. What can we
learn from categories that consistently recruit buyers?
0.5 0.5
-1.5
-1.0
0.5 0.5
-1.5
-1.0
2020
52 we Aug 2021
• Floor Cleaner
• Box Tissue
• Mouth Rinse
• Box Tissue
• Mouth Rinse
*Categories in the pink box are those with consistent penetration growth

Hygiene products
What’s Next?
74
There are 3 key important things shown by growing categories: to
maintain pricing level, to be competitive in in-store promotion game
and to be present in emerging channels (Online)
Consistently growing
in penetration
Price Change (12 we Aug 2021 vs YA)
Mouth Rinse
Powder Detergent
(Urban 4 cities)
(Urban 4 cities)
12 we Aug 20
12 we Aug 20
(Rural)
(Rural)
12 we Aug 21
12 we Aug 21
12 we Aug 21
12 we Aug 21
-1%
+6%
124
97
-16%
+1%
142
71
349
86
Floor Cleaners
Fabric Softener
Box Tissue
Toothbrush
Vol. Under Promotion Index
(vs Total Hygiene) in MT Urban 4 cities
Online Share Index
(vs Total Hygiene) in Urban 4 cities
Consistently declining
in penetration
#1. Maintaining Price Level #2.
In-Store Promotion
Competitiveness
#3. Online Presence

Hygiene products
What’s Next?
75
Apart from recruiting new buyers, it’s also important for us to
gain consumers loyalty through driving consumption
Hygiene Categories - Avg. Consumption Growth (vs YA)
2020
52 we Aug 2021
• Fabric Softener
• Shampoo
• Toothbrush
• Fabric Softener
*Categories in the pink box are those with consistent consumption growth
3
10
-6.0
1.0
3
10
-6.0
1.0

Hygiene products
What’s Next?
76
In order to drive consumption, pushing big pack is crucial. This also
enables consumers behaviour of stocking up during COVID waves
Movement from Small to Bigger Pack
(% Volume per trip change | 12 we Aug vs YA)
Urban 4 Cities Urban 4 Cities
Rural Rural
The faster growth of Big Bottle and Big Pouch
(% Volume per trip change | 12 we Aug vs YA)
+4% +11%
+2%
+11%
+12% +15%
+6%
+9%
Shampoo Liquid
Detergent
Toothbrush
Fabric
Softener

Hygiene products
What’s Next?
77
The situation of surge that happened last year also brings
opportunity for smaller brands* in for Hygiene Products as
consumers seem to be more open to try new brands last year
Contribution of Top 5 Players to total
market (avg. 21 categories in 2020)
84%
Growth contribution of Top 5 Players
to total market growth (avg. 21
categories in 2020)
67%
(*) Smaller Brands: Outside top 5 in respective categories
Average FMCG brands bought
(52 we ending Aug …)
61.7
2019
64.2
2020
65.4
2021

Hygiene products
What’s Next?
78
… and the growth of smaller brands opens up the opportunity for
premiumization. As smaller brands are in overall bought in more
premium pricing.
Average Price Index
for smaller brands: 153
Home Care Personal Care Tissue Napkin
Botany
Floor Cleaner
Intima Ziaja
Feminine Wash
Saigon
Care Tissue
Choice L
Floor Cleaner
Kotex
Sanitary Napkins
Elene
Tissue
Coop Select
Dishwash

Hygiene products 79
•
Consumers are reacting to Wave 4 of COVID by increasing
spending almost as high as they did in Wave 1. There is, however,
a trend of prioritization/rationalization. Packaged Foods and Dairy,
categories that serve a role as Immune Booster are prioritized.
Leading to modest growth for Hygiene Products in Wave 4
compared to Wave 1. Especially in Urban regions.
•
Hygiene Products are still showing growth (although lower
compared to last year), fueled by higher spending and larger
trip sizes, despite reducing frequency of purchase. This shopping
behavior have been happening for recent years, even enhanced by
the emergence of Covid 19 social distancing.
•
For demographic drivers, Consumers in most regions still increase
spending for Hygiene Products in recent months although not as
fast as 2020 number. Restriction Policy in regions seem to play an
important role as consumers in in HCMC and Cantho are reducing
their spending for Hygiene Products.
•
For Channel view, Small MT format Online are still preferred over
larger format stores. Within MT, Minis has become has surpassed
Hyper Super for Hygiene Products purchase.
•
Despite slowing down at total level recently, there are still
categories within Hygiene Products able to grow both in long
and short term. Indicating there is still opportunity for the rest of
categories to grow.
•
How to keep on recruiting buyers: There are more new buyers
coming into the categories last year. These buyers, however, are
not staying for long. Within this situation, there are categories that
are consistently recruiting buyers. The drivers of this trend come
down to great execution: the ability to maintain price, offering in-
store promotion and being present in emerging channels.
•
Gain consumer loyalty: apart from recruiting buyers, gaining
loyalty through consumption is also important for growth. several
categories able to gain consumers loyalty consistently by locking
up their buyers through bigger packs.
•
Acceleration of smaller brands: the surging growth that happened
in 2020 is not only driven by top brands. We saw a greater
contribution to growth coming from smaller brands. This trend
opens the opportunity for premiumization as these brands are in
overall priced higher compared to the category average.
•
Momentum to re-surge: Latest reading shows that consumers are
staring to increase their spend in COVID Wave 4 at the same pace
as they did in Wave 1. Manufacture push is crucial to drive this
growth, as consumers are still prioritizing Packaged Foods sector.
What’s
Now?
What’s
Next?

Cooking Aids
What’s Now?
80
C O O K I N G A I D S

Cooking Aids 81
What is in Cooking Aids?
Taste Enhancers Sauces Other Seasoning
MSG
Salt Plus
Granules
Meal Maker
Fish Sauce
Soya sauce
Chilli sauce
Ketchup
Mayonnaise
Pasta sauce
Sugar
Cooking oil

Cooking Aids
What’s Now?
83
Panic purchase and in-home consumption have been revealed
more clearly in Urban than Rural for Cooking Aids categories…
Index vs pre-covid week (average week of April 2019) – Weekly Cooking Aids spending
0
50
100
150
200
250
7-Apr
28-Apr
19-May
9-Jun
30-Jun
21-Jul
11-Aug
1-Sep
22-Sep
13-Oct
3-Nov
24-Nov
15-Dec
5-Jan
26-Jan
16-Feb
8-Mar
29-Mar
19-Apr
10-May
31-M
ay
21-Jun
12-Jul
9-Aug
30-Aug
20-Sep
11-Oct
1-Nov
22-Nov
13-Dec
3-Jan
24-Jan
14-Feb
7-M
ar
28-Mar
18-Apr
9-May
30-May
20-Jun
11-Jul
1-Aug
Urban
Rural
2020 2021
2019
Tet
period
Tet
period
Wave 3
Week
ending
15-Aug

Cooking Aids
What’s Now?
84
… driven by higher spending and
more items purchased for each trip
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam Rural Vietnam | Cooking Aids | Data updated August 15th 2021
Weekly Cooking Aids – Index vs pre-covid week (average week of April 2019)
2020 2021
2019
0
50
100
150
200
5-M
ay
26-May
16-Jun
7-Jul
28-Jul
18-Aug
8-Sep
29-Sep
20-Oct
10-Nov
1-Dec
22-Dec
12-Jan
2-Feb
23-Feb
15-M
ar
5-Apr
26-Apr
17-M
ay
7-Jun
28-Jun
26-Jul
16-Aug
6-Sep
27-Sep
18-Oct
8-Nov
29-Nov
20-Dec
10-Jan
31-Jan
21-Feb
14-Mar
4-Apr
25-Apr
16-May
6-Jun
27-Jun
18-Jul
8-Aug
Week
ending
Tet
period
Tet
period
2020 2021
2019
15-Aug
0
50
100
150
200
5-M
ay
26-May
16-Jun
7-Jul
28-Jul
18-Aug
8-Sep
29-Sep
20-Oct
10-Nov
1-Dec
22-Dec
12-Jan
2-Feb
23-Feb
15-M
ar
5-Apr
26-Apr
17-M
ay
7-Jun
28-Jun
26-Jul
16-Aug
6-Sep
27-Sep
18-Oct
8-Nov
29-Nov
20-Dec
10-Jan
31-Jan
21-Feb
14-Mar
4-Apr
25-Apr
16-May
6-Jun
27-Jun
18-Jul
8-Aug
Tet
period
Tet
period
15-Aug
Wave 1 Wave 2 Wave 3 Wave 4 Wave 1 Wave 2 Wave 3 Wave 4
2020 2021
2019
0
50
100
150
200
5-M
ay
26-May
16-Jun
7-Jul
28-Jul
18-Aug
8-Sep
29-Sep
20-Oct
10-Nov
1-Dec
22-Dec
12-Jan
2-Feb
23-Feb
15-M
ar
5-Apr
26-Apr
17-M
ay
7-Jun
28-Jun
26-Jul
16-Aug
6-Sep
27-Sep
18-Oct
8-Nov
29-Nov
20-Dec
10-Jan
31-Jan
21-Feb
14-Mar
4-Apr
25-Apr
16-May
6-Jun
27-Jun
18-Jul
8-Aug
Week
ending
Tet
period
Tet
period
2020 2021
2019
15-Aug
0
50
100
150
200
5-M
ay
26-May
16-Jun
7-Jul
28-Jul
18-Aug
8-Sep
29-Sep
20-Oct
10-Nov
1-Dec
22-Dec
12-Jan
2-Feb
23-Feb
15-M
ar
5-Apr
26-Apr
17-M
ay
7-Jun
28-Jun
26-Jul
16-Aug
6-Sep
27-Sep
18-Oct
8-Nov
29-Nov
20-Dec
10-Jan
31-Jan
21-Feb
14-Mar
4-Apr
25-Apr
16-May
6-Jun
27-Jun
18-Jul
8-Aug
Tet
period
Tet
period
15-Aug

Cooking Aids
What’s Now?
85
Despite the slowdown in the first 6 months of 2021, under
the impact of the latest wave, a significant rise in demand
for Cooking Aids is observed across cities and regions.
% Value growth of Cooking Aids by cities/ regions (vs YA)
12 12 12
18
10
1 2
0
2
-3
25
30
18
33
16
-5
0
5
10
15
20
25
30
35
Total Urban 4
cities
11
15
12
6
-1
-4
-2
2
10
13
7 8
-15
-10
-5
0
5
10
15
20
25
12 12 12
18
10
1 2
0
2
-3
25
30
18
33
16
-5
0
5
10
15
20
25
30
35
Total Urban 4
cities
11
15
12
6
-1
-4
-2
2
10
13
7 8
-15
-10
-5
0
5
10
15
20
25
2020
H1’21
12 we Aug 2021

Cooking Aids
What’s Now?
86
Unlike the 1st wave of COVID when stocking behavior was mostly
witnessed amongst HHs with high income, a significant growth has been
seen across income groups as the latest wave is much more severe.
% Value growth of Cooking Aids by income (vs YA)
2020
H1’21
12 we Aug 2021
12
6
17
1
5
-2
25 26 25
income
Mid-high High HH
income
10
-2
24
0
-4
5
18
11
23
income
Mid-high High HH
income
12
6
17
1
5
-2
25 26 25
income
Mid-high High HH
income
10
-2
24
0
-4
5
18
11
23
income
Mid-high High HH
income

Cooking Aids
What’s Now?
87
For Cooking Aids, Street shops is the key channel that contributes up to
60% of value sales. Minimarket plays a more and more important role.
Online is still small but is a promising channel for Cooking Aids categories
as buyers are seeking convenience.
% Value share by channel
URBAN 4 CITIES
52.7 52.5 53.7 55.8 55.1 57.8
8.8 8.5 5.7
19.9 18.5 15.7
14.5 13.3
10.9
14.6 15.2 13.5
6.2 6.6
9.3
6 7.4 8.6
3.9 5 5.9
13.9 14.1 14.5
MAT 19 MAT 20 MAT 21 MAT 19 MAT 20 MAT 21
Others
Online
Minimarket
Hyper Super
Wet market
Street shops
FMCG Cooking Aids

Cooking Aids
What’s Now?
88
Minimarket and Online are consistently keeping good momentum.
Noticeably, more accessible channels including Street shops also benefit
more in Wave 4 due to stricter movement measures
% Value growth of Cooking Aids by channel (vs YA)
URBAN 4 CITIES
12
1
25
12
5
37
7 4
-17
15
-4 -8
33
2
72
110
53
118
2020 H1'21 12 we Aug 2021
All Retailers Street Shops Wet Market Hyper Super Minimarket Online

Cooking Aids
What’s Now?
89
To better understand Cooking Aids movement, we classify these
categories into 3 sectors:
1
NECESSITY
2
CONVENIENCE
3
DIPPING SAUCE
MSG
Sugar
Fish Sauce
Soya Sauce
Salt plus
Cooking Oils
Granules
Meal Maker
Oyster Sauce
Chili Sauce
Ketchup/Tomato
Sauce
Mayonnaise
Pasta Sauce

Cooking Aids
What’s Now?
90
Convenience and Dipping are showing impressive growth, implicating
people are adopting more modern solutions in the kitchen.
% Value growth of Categories within Cooking Aids (vs YA)
*Categories in color circles are top growing
Urban 4 key cities Rural
NECESSITY
Sugar
Soya Sauce
Oyster Sauce Mayonnaise
CONVENIENCE DIPPING SAUCE
23%
17%
2020 H1'21 12 we Aug'21
31%
17%
2020 H1'21 12 we Aug'21
45%
23%
2020 H1'21 12 we Aug'21

Cooking Aids
What’s Now?
91
Young shoppers with high HH income have higher endorsement for
Convenience Dipping categories, especially in Urban.
% Value growth of Categories within Cooking Aids (12 we Aug 21 vs YA)
Necessity Convenience Dipping
0
10
20
30
40
50
60
70
Total
Urban 4
cities
HH
income
=17mln
HH
income
17mln
Main
shopper
40
Main
shopper
40+
0
10
20
30
40
50
60
70
Rural HH
income
=7mln
HH
income
7mln
Main
shopper
40
Main
shopper
40+
0
10
20
30
40
50
60
70
Total
Urban 4
cities
HH
income
=17mln
HH
income
17mln
Main
shopper
40
Main
shopper
40+
0
10
20
30
40
50
60
70
Rural HH
income
=7mln
HH
income
7mln
Main
shopper
40
Main
shopper
40+

Cooking Aids
What’s Next?
93
For Cooking Aids to grow
further, we’re about to review
the 4 paths of growth
Recruit
new
buyers
Gain
consumers
loyalty
Surf the
trends
Value up
(premiumization)
1
4
2
3

Cooking Aids
What’s Next?
94
The Convenience and Dipping segments are expected to have more
headroom to grow further in both Urban Rural in the next 3 years.
*CAGR 3 years = Compound Annual Growth rate using historical of the last 3 years to calculate
Cooking Aids performance — MAT Aug’21
MSG 0% 85
Sugar 0% 96
Fish Sauce 0% 96
Soya Sauce +1% 88
Salt plus +3% 38
Cooking oils 0% 98
Granules +2% 76
Meal Maker +8% 28
Oyster Sauce +8% 42
Chilli Sauce +2% 85
Ketchup +11% 46
Mayonnaise +18% 32
Pasta Sauce 0% 3
0% 95
-1% 95
+1% 96
0% 70
-3% 47
+1% 99
+4% 70
-4% 9
+28% 12
+1% 72
+51% 11
+35% 4

Urban 4 Key Cities
CATEGORIES
Rural
Necessity
Easy
Convenience
Dipping

Cooking Aids
What’s Next?
95
The common theme seen within
Cooking Aids when it comes to
buyer recruitment is bundling
which has evolved from the
same to different formats and
types. Minimarket Online
are channels for development
moving forward in both Urban
and Rural.
Source:
Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam Rural Vietnam | Cooking Aids | Data updated August 15th 2021
Bundle with others
Presence at modern channels
No. categories purchased per HH/year
7.8
6.6
8.0
6.7
8.1
6.8
Urban 4 cities Rural
MAT Aug 19
MAT Aug 20
MAT Aug 21
% Buyer by channels (in Urban 4 key cities)
34.0
2.4
8.0
3.8
47.4
6.8
Minimarkets Online
MAT Aug 19
MAT Aug 20
MAT Aug 21
% Buyer of Cooking Aids -
Minimarkets in Rural
Shopper base are x6 within 2 years,
acquiring nearly 2 million rural
households.
MAT Aug 19 MAT Aug 21
2%
11%
From bundle products of
same formats, same types
To bundle products of different
formats, different types

Cooking Aids
What’s Next?
96
Due to higher demand for in-home cooking, Cooking Aids
consumption has been increasing healthily, starting from last year
when Covid first came. Convenience Dipping categories enjoy
sustainable growth in both Urban and Rural.
Cooking Aids Cats. Avg. Consumption Change
FY 2019
MAT Aug 2020
MAT Aug 2021
• Granules
• Oyster Sauce
• Chilli Sauce
• Granules
• Meal Maker
• Oyster Sauce
• Chilli Sauce
*
Categories in the pink box are those with consistent
consumption growth
(*)
To calculate consumption change of Cooking Aids, we calculate
consumption change of each category then get the average number.
0
-4.0
5.0
6.0
5.0
3.0
0
-4.0
5.0
6.0
5.0
3.0

Cooking Aids
What’s Next?
97
COVID-19 acts as the catalyst
for the bigger trip due to
panic buying in both Urban
and Rural. The upsizing trend
happened across channels
in the past 2 years. In the
latest year, MT, especially
Minimarket is where this trend
occurs strongly.
Higher trip spend, bigger pack
Channels
Cooking Aids performance by key measures (% change vs YA)
% Pack size change in Urban 4 key cities (vs YA)
Spend per trip (000 VND) Av. Packsize *
(*) To calculate average packsize change of Cooking Aids, we calculate packsize change of each category then get the average number.
34.0 3
-1
0 0
8.0 4
2 2 2
1
0
3 3
5
All channels General
Trade
Modern
Trade
Hyper Super Minimarket
FY 2019 MAT P8’20 MAT P8’21
3
2
8
6
7 7
3
-1
4
5
1
4
FY 2019
MAT Aug 20
MAT Aug 21

Cooking Aids
What’s Next?
98
COVID-19 has amplified the already-underway healthy eating
demand and elevated it into another milestone, opening up the
opportunity for premiumization.
79% of people agree
that they are ready to
pay a higher price for
healthier foods
Heathier option Tailored to lifestyle
SEED COOKING OILS – Volume share % Manufacturers are heading towards diverse needs that
Cooking Aids will also need to find itself fit in.
Theme 1
Organic
Theme 2
Vegan
Theme 3
Concentration
Concentrated liquid
format
Knorr Organic Chinsu
Shiitake
Aji-ngon
Mushroom
lotus
40%
42%
(*) Seed Cooking Oil: Oil extracts from Soybean, Peanut, Olive, Sunflower, Mustard, Canola, Sesame, Gac, Rice, Walnut, Macca, Flaxseed, Cashew,…

Cooking Aids
What’s Next?
99
Easy Convenient | Vietnamese have learned to cope with the
prolonged lockdown, adopting new products and technologies to
ease their daily routine and busy lives effortlessly.
Being their home chef
From Regular…
Knorr meal
maker
Vedan meal
maker
Cholimex
marinade BBQ
sauce
Saigon Food
Fresh Meal in 3 mins
Pizza 4Ps frozen
foods
Packaged dipping sauce
hot pot maker from Haidilao
Hai Thien
pho sauce
…to Occasional
Make it easy Smart kitchen appliances
Rising demand for the air fryer, pressure cooker,
blender, plant-based milk maker – not only to
ease the pain of cooking but also to bring fun
and creativity to the kitchen
+120% vs LY
Source: Google trends

Cooking Aids
What’s Next?
100
Home-cook experience | The Covid-19 pandemic has kept
most consumers confined to their homes and shaped a way new
experience in cooking and eating habits.
Source: Insight Division | Consumer Sentiment Survey in 9 APAC countries, Q8 | February 2021
Culinary inspiration required Delivery/Take-away cooperation opportunity
People learn how to transform the regular ingredients
into delicious dishes they can’t easily have during the
long days of home living hence develop a newfound
passion for cooking.
Looking towards the future when the national vaccine rollout
program and restriction easing of food to go, there comes
the make-away offering to continue to expand.
People share product recipes and post about their success making local
specialties and street foods on social networks.
How do you think your spend levels on the following items will change over
the next 3 months?
Food Delivery Dine-in
Bánh bèo Bột chiên Moon cake
21% 19%
61%
19%
-13%
-56%
Same as before Increased Decreased
21% 19%
61%
19%
-13%
-56%
Same as before Increased Decreased
Same as before
Increased
Decreased

Cooking Aids 101
•
Under the serious impact of COVID Wave 4, packaged foods,
specifically Cooking Aids witnesses increasing panic purchases with
more items and higher spending per trip.
•
Overall, all cities and regions are impacted by the latest wave.
However, the situation is more severe in Urban, hence the stock-
piling pattern is more pronounced than it is in Rural.
•
Unlike when the Covid first hit our country, stocking behavior only
happened amongst HH with high income, in this wave, all income
groups show significant growth in demand for Cooking Aids.
•
At the Total FMCG level, strict lockdown together with people’s
fears of crowded places make Hyper Super suffer a significant
drop to the lowest level in 2 years. In contrast, proximity and
convenient channels: Street shops, Minimarket and Online are the
beneficial ones.
•
For Cooking Aids, Minimarket Street shops are winners during
Covid Wave 4. Though being still modest, Online is a promising
playground when people are seeking convenience.
•
Convenience and Dipping sectors are showing impressive growth,
implicating people are adopting more modern solutions in the
kitchen, esp. amongst young shoppers with high HH income.
There are 4 paths for Cooking Aids to grow even further:
Path 1 – Recruit buyers
•
Bundle with others either same or different formats/types
•
Being present at Modern Channels including Minimarket and
Online. Notice that Minimarket is flourishing in Rural with buyer
base expanding by 6 times compared to the last 2 years.
Path 2 – Build loyalty
• Leverage upsizing trend in Modern Trade
Path 3 – Value up (Premiumization)
•
Justify your brand value by reinforcing the healthy benefits
•
How about tailoring the product offerings to meet the diversified
customers’ demands? The 3 emerging themes are Go vegan, Go
Organic and Go concentrated.
Path 4 - Surf the trends shaped by Covid
• Bringing in effortless cooking solutions and
• Dialing up culinary inspiration
• Cooperating with delivery platforms providers
What’s
Now?
What’s
Next?

Non-alcoholic beverages
What’s Now?
102
N O N - A L C O H O L I C B E V E R A G E S

Non-alcoholic beverages 103
The decreasing spending on Beverage under COVID is driven by a
drop for alcoholic beverages whilst non-alcoholic beverages (NAB)
resist better
% Value change (vs YA)
2020
H1’21
12 we Aug 2021
1
0
3
1 1
-1
-13
-27
-2
Beverages Alcoholic Beverages Non-alcoholic
Beverages
0
-7
7
3
6
3
-8
-22
3
Beverages Alcoholic Beverages Non-alcoholic
Beverages

Which categories are
included in Non-Alcoholic
Beverage?
Mainly for Out-of-home
consumption
Mainly for In-home
consumption
This classification is based on %drinking occasion of each category, indexed with total NAB, in Kantar Drink Usage Study
Energy Drink
Bottled Water
Coffee
Tea
Carbonated Soft Drinks
Juices

What’s Now?
106
In long term, spending on NAB is still on an upward trend in
both Urban and Rural. However, the momentum is impacted
adversely during Covid periods, especially wave 2 onwards
Index vs pre-covid week (average week of April 2019) – Weekly Non-alcoholic Beverages spending
60
80
100
120
140
160
180
200
7-Apr
28-Apr
19-May
9-Jun
30-Jun
21-Jul
11-Aug
1-Sep
22-Sep
13-Oct
3-Nov
24-Nov
15-Dec
5-Jan
26-Jan
16-Feb
8-Mar
29-Mar
19-Apr
10-May
31-M
ay
21-Jun
12-Jul
9-Aug
30-Aug
20-Sep
11-Oct
1-Nov
22-Nov
13-Dec
3-Jan
24-Jan
14-Feb
7-M
ar
28-Mar
18-Apr
9-May
30-May
20-Jun
11-Jul
1-Aug
Urban
Rural
2020 2021
2019
Tet
period
Tet
period
Wave 3
Week
ending
15-Aug

What’s Now?
107
Weekly Non-alcoholic Beverages – Index vs pre-covid week
(average week of April 2019)
Less spending on NAB during Covid periods result from less buyers
purchasing within the market. Under these periods of lockdown,
buyers tend to opt for bulkier trip esp in Urban areas
2020 2021
2019
70
80
90
100
110
120
130
140
150
160
170
5-M
ay
26-May
16-Jun
7-Jul
28-Jul
18-Aug
8-Sep
29-Sep
20-Oct
10-Nov
1-Dec
22-Dec
12-Jan
2-Feb
23-Feb
15-M
ar
5-Apr
26-Apr
17-M
ay
7-Jun
28-Jun
26-Jul
16-Aug
6-Sep
27-Sep
18-Oct
8-Nov
29-Nov
20-Dec
10-Jan
31-Jan
21-Feb
14-Mar
4-Apr
25-Apr
16-May
6-Jun
27-Jun
18-Jul
8-Aug
Week
ending
Tet
period
Tet
period
2020 2021
2019
15-Aug
50
60
70
80
90
100
110
120
130
140
150
160
170
5-M
ay
26-May
16-Jun
7-Jul
28-Jul
18-Aug
8-Sep
29-Sep
20-Oct
10-Nov
1-Dec
22-Dec
12-Jan
2-Feb
23-Feb
15-M
ar
5-Apr
26-Apr
17-M
ay
7-Jun
28-Jun
26-Jul
16-Aug
6-Sep
27-Sep
18-Oct
8-Nov
29-Nov
20-Dec
10-Jan
31-Jan
21-Feb
14-Mar
4-Apr
25-Apr
16-May
6-Jun
27-Jun
18-Jul
8-Aug
Tet
period
Tet
period
15-Aug
2020 2021
2019
70
80
90
100
110
120
130
140
150
160
170
5-M
ay
26-May
16-Jun
7-Jul
28-Jul
18-Aug
8-Sep
29-Sep
20-Oct
10-Nov
1-Dec
22-Dec
12-Jan
2-Feb
23-Feb
15-M
ar
5-Apr
26-Apr
17-M
ay
7-Jun
28-Jun
26-Jul
16-Aug
6-Sep
27-Sep
18-Oct
8-Nov
29-Nov
20-Dec
10-Jan
31-Jan
21-Feb
14-Mar
4-Apr
25-Apr
16-May
6-Jun
27-Jun
18-Jul
8-Aug
Week
ending
Tet
period
Tet
period
2020 2021
2019
15-Aug
50
60
70
80
90
100
110
120
130
140
150
160
170
5-M
ay
26-May
16-Jun
7-Jul
28-Jul
18-Aug
8-Sep
29-Sep
20-Oct
10-Nov
1-Dec
22-Dec
12-Jan
2-Feb
23-Feb
15-M
ar
5-Apr
26-Apr
17-M
ay
7-Jun
28-Jun
26-Jul
16-Aug
6-Sep
27-Sep
18-Oct
8-Nov
29-Nov
20-Dec
10-Jan
31-Jan
21-Feb
14-Mar
4-Apr
25-Apr
16-May
6-Jun
27-Jun
18-Jul
8-Aug
Tet
period
Tet
period
15-Aug

What’s Now?
108
Spending on NAB in Covid times was decreased by older shopper
groups, mainly because of their cautious budget allocation.
However, those groups still had tendency to buy NAB in long term,
when life gradually adapt to new normal
% Value growth of Non-alcoholic Beverages by Household ages (vs YA)
2020
H1’21
12 we Aug 2021
7
11
5
10
6
3
23
6
4
-3
3
15
5
1
0
-5
0
5
10
15
20
25
Total Urban 4
cities
Main Shopper
Age 30
Main Shopper
Age 30-39
Main Shopper
Age 40-49
Main Shopper
Age 50+
3
-6
6
-1
6
-1
2
-1
-3
-1
-2
16
-5
-8
-1
-15
-10
-5
0
5
10
15
20
25
Total Rural Main shopper
age 30
Main shopper
age 30-39
Main shopper
age 40-49
Main shopper
age 50+

What’s Now?
109
Spending for NAB in occasional-shopping retailers (Hyper Super and
Wet market) reduce the most when Covid happened. Proximity stores
(Street shop or Mini stores) were prioritized to buy NAB in this context
% Value growth of Non-alcoholic Beverages by channel (vs YA)
2020 H1’21 12 we Aug 2021
7 7
12 12
51
-5
3 5 1
-4 -5 -3
3 4
-35
-7
44
3
All Retailers Street Shops Wet Market Hyper Super Minimarket Gift/ Sampling
URBAN 4 CITIES

What’s Now?
110
Categories Map based (% Value Growth vs YA)
Short Term Decline (12we Aug vs YA)
Long
Term
Growth
(FY
20
vs
19)
Long
Term
Decline
(FY
20
vs
19)
Short Term Growth (12we Aug vs YA)
• Bottled Water • Energy Drink
• Coffee
• Bottled Water
• Juices
• Tea
• CSD
• CSD
• Energy Drink
• Juices
• Tea
• Coffee
Urban 4 cities
Rural
In terms of product choice, categories that are prone to be used
in OOH occasions increase in the Covid context, which indicates a
movement from OOH to IH consumption due to the limited movement

What’s Next?
112
There is sizeable opportunity
for Non-alcoholic beverages
market to growth further. It is
important for manufacturers
to acknowledge drinking
motivation and occasions to
meet consumer demand
Categories CAGR in 3 years % Penetration
Bottled water +7% 62.0
CSD +1% 84.2
Energy Drink +7% 49.5
Juices +15% 37.2
Loose Leaf Tea +2% 46.5
Tea Bag -2% 29.9
Instant Tea +8% 31.4
Ready-to-drink Tea +17% 55.1
Instant Coffee +8% 72.3
Ground Coffee -1% 31.0
Ready-to-drink
Coffee
+4% 5.5
+4% 41.6
-1% 74.6
+5% 47.7
+16% 32.6
+4% 53.3
+6% 9.1
-5% 14.7
0% 41.3
+5% 62.7
-4% 18.5
* 0.8
Urban 4 Key Cities (+4%) Rural (+2%)
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Rural Vietnam | Data updated August 15th 2021
*CAGR 3 years = Compound Annual Growth rate using historical of the last 3 years to calculate
Non-alcoholic Beverages performance
Green: 3% change Red: -3% change * means low sample size

What’s Next?
113
What next?
Capturing
Tet gifting
The evolution of
Flavors
Embrace
the rising of
convenience-driven
retail
Home life
becomes more
important
The desire for a
healthier life
continue to
expand
1 2 3 4 5

What’s Next?
114
Real purchases contributed to the positive performance of FMCG in Tet
2021 while gifts plummet, mainly because of the discovery of new Covid
cases before Tet led to the drop in gifting occasions. However, since
gifting is also an important channel for NAB, leveraging both occasion
can unlock further growth for brands
% Value contribution of real purchases and gifting in Tet 2021
(value next to bar chart is the value growth in Tet 21 vs. Tet 20)
Source: Worldpanel Division | Household Panel | Urban 4 key cities Rural | FMCG including Gift | Tet period 4P
84 79
16 21
FMCG NAB
80 75
20 25
FMCG NAB
-10% 0%
+6% +6%
-12% +2%
+7% +1%
Real purchases
Gifting

What’s Next?
115
Purchases for Tet in Urban happen earlier than in Rural. Consumers tend
to head to convenient channels for Tet shopping due to the acceleration
of COVID-19. Moreover, the promotion also contribute to recruitment of
buyers in Tet season in Minimart
30
36
28
29
22
18
19 17
Urban 4 cities . Rural
4 weeks ahead
3 weeks ahead
2 weeks ahead
1 week ahead
% Value share of real purchases for FMCG at Tet 2021 % Value change of FMCG at Tet 2021 vs. Tet 2020
57
17
9 6 6
1
82
39
-2
0
6
-29
O
n
l
i
n
e
M
i
n
i
m
a
r
t
W
e
t
m
a
r
k
e
t
S
p
e
c
i
a
l
t
y
s
t
o
r
e
s
S
t
r
e
e
t
s
h
o
p
H
y
p
e
r

S
u
p
e
r
Did you know?
Nearly 1 in 5 FMCG
transactions in minimarkets
are under promotion,
growing by +18% vs. Tet 2020.

What’s Next?
116
Ranking amongst top10 most chosen products for gifting in Tet, NAB
categories, especially Soft drinks (CSD, Energy Drinks) promises high
potential to grow in this season
The product that you plan to give? ( % answer) % Value share of Gifting for FMCG (at Tet 2021) Customized packages/ design for Tet season
43
61
33
24
15
11
9 5
Urban 4 cities . Rural
4 weeks ahead
3 weeks ahead
2 weeks ahead
1 week ahead
Urban 4 Key Cities
Rural
#6. Tea/ Coffee (7%)
#7. Soft drink (7%)
#3. Soft drink (11%)

What’s Next?
117
Shoppers are willing spend more on Tet gifting and likely to choose
products to fit their budget. Therefore, NAB manufacturers should
design proper mixes to captures their baskets for gifting in Tet. Moreover,
considering other important criteria will also help
The value for “total Gift/ Money” that you are willing to give? (% plan)
The most important criteria
to choose gift?
Gift cost fits my budget
Products for Tet usage
The preference of the recipient
Age and status of receivers
Healthcare products
Source: Worldpanel Division | Tet Gifting Survey| Urban 4 key cities Rural | FMCG Gifts only | Tet 4 weeks before the 1st day of Tet
Urban 4 Key Cities Rural Urban 4 Key Cities Rural
9 6
13 13
23 23
16 16
13 15
25 27
Tet 2020 Tet 2021
100k 100k - 200k 200k - 300k 300 - 500k
500k - 700k 700k - 1M =1M
12 17
27 22
24 24
12 13
9 8
10 11
Tet 2020 Tet 2021
100k
100k - 200k
200l - 300k
300k - 500k
500k - 700k
700k - 1M
= 1M
18%
16%
15%
13%
11%
21%
20%
16%
11%
10%

What’s Next?
118
Cutting through by innovations
and ensuring success is not an
easy J2BD for NAB manufacturers,
given that beverage is a
dynamic environment for
innovation. Therefore, tailoring
the innovation to meet the
demands and occasions with
suitable approaches will help
manufacturers to stand out and
achieve better result
Source: Worldpanel Division | Tet Gifting Survey| Urban 4 key cities Rural | FMCG Gifts only | Tet 4 weeks before the 1st day of Tet
Number of new launches by sector
(number in bracket is % growth vs LY)
3835
3274
1211
882 796
Personcal
Care
Packaged
Foods
Beverages Home
Care
Dairy
(+19%)
(+55%)
(+16%)
(+18%)
(+16%)

What’s Next?
119
Flavor help the category become more exciting to consumer and
diversify brand portfolio. New flavors can revitalize a brand’s offering and
encourage new buyers to try for new experience
RTD TEA CARBONATED SOFT DRINKS ENERGY AND SPORT DRINKS
C2 Blacktea Peach/Lychee Mirinda Cream Soda Warrior Grape Salted Lemon Revive
The combination of refreshing soft drinks and
delicious taste of cream helps create the curiosity
to try new product from Mirinda.
+3pts +2pts 7.3%
40%
10.5%
incremental buyers incremental buyers trial rate after
1-year launch
repurchase
penetration after 1-year launch
(x2 category average)

What’s Next?
120
65.2
32.4
69.6
36.1
FMCG Non-Alcohol Beverages
Minimart also emerges as proximity channel and inviting to shoppers by
offering modernized facilities and broad assortment for shoppers. For Non-
alcoholic beverages, this indicates an opportunity to capture this fast
advanced channel
Source: Worldpanel Division | Household Panel | Urban 4 key cities | Lifestyle Survey 2020 FMCG excluding gifts
Minimart emerges as modernized proximity
Monthly purchase behaviours in Minimart
Minimart performance
% Penetration- MAT Aug 21
Non-Alcoholic Beverages
0
500000
1000000
1500000
2000000
2500000
3000000
3500000
0
5
10
15
20
25
30
35
40
P6'18 P13'18 P6'19 P13'19 P6'20 P13'20 P6'21
Penetration Occasion (100,000)
Minimarkets now
have reached nearly
2/3 of urban
household within 1
year until Q1’21
Urban 4 Key Cities
Rural
16.9
4.7
20.7
7.3
FMCG Non-Alcohol Beverages
Non-Alcoholic Beverages

What’s Next?
121
Another movement to point out
is that Food Delivery is more
chosen as Covid has created
shopping habit for consumers,
along with movement of RTS
chains to stay close to customers
such as Phuc Long kiosks right in
Vinmart+ stores.
Source: Insight Division | Consumer Sentiment Survey in 9 APAC countries, Q8 | February 2021
21% 19%
61%
19%
-13%
-56%
Food Delivery Eating out
Same as before
Increased
Decreased
21% 19%
61%
19%
-13%
-56%
Food Delivery Eating out
Same as before
Increased
Decreased
FB Delivery
Phuc Long Kiosks across Vinmart+
Moving forward into new normal, this indicates that NAB players need to watch out
Food delivery and Ready-to-serve drink in order to win out-of-home occasions.
As part of the transaction,
VinCommerce entered into a
strategic co-operation agreement
with Phúc Long to jointly develop
‘Phúc Long Kiosk’ at more than
2,200 VinMart+ stores nationwide.

What’s Next?
122
High growth rate for in-home
consumption was witnessed in
categories that used to have
low IH usage, which indicated
tendency to shift from OOH to
IH consumption. However, the
upcoming new normal also urges
OOH to recover, which requires
manufacturers to develop suitable
strategies to stay relevant to those
occasions
Source: Worldpanel Division | Drink Usage study 2019 and household panel
% Value share by categories
New normal will enable the OOH consumption gradually
recover but with newly consuming habits after the pandemic,
which urges manufacturers to catch up and stay relevant
37
48
63
52
Energy
Drink
RTD Tea
IH OOH
+13%
+13%
Volume for in-home consumption
(12 w/e P8’21 vs. YA)

What’s Next?
123
During Covid, Non-alcoholic beverages witness effort to drive home
relevancy. More products have been introduced with the purpose of bring
exciting home experience. Beer and CSD also communicate to drive more
in-home occasions
Introduce products that bring out to in Create occasions for in-home consumption
C2 Black Peach Tea
Bring popular drink, Black Peach Tea,
encouraging in-home experience.
Big CSD brands
communicate more about
family meals
Nescafe Barista
Nescafe Barista introduced with theme of
replicating coffee shop recipe drinks, bringing
OOH experience to in home.
Aquafina Soda
Aquafina Soda is newly introduced in May’21,
encouraging consumers in-home habit with
DIY drinks.
Beer brand talk more about “nhà” to drive drinking occasion

What’s Next?
124
Health rises to be a top priority among urban Vietnamese consumers.
Of all the drinking motivations, Health accounts for 13% with very diverse
needs. Top two trends related to health are Health/Immunity Boosters and
sugar reduction.
Source: Worldpanel Division | Drinking Usage Study 2019 | Vietnam 4 key Urban cities | Non-alcoholic beverages and Nutrition | VnExpress, Vietnam Insider
What’s driving this trend?
79%
15% Who?
Agree they are ready to pay
a higher price for healthier
foods (2019)
of Vietnam’s 95 million population
has mental illness due to stress,
especially amongst the youth for
stress in work or school (2019).
Female, age group of 19-34
and above 45+ YO have more
health drinking purpose.
Drinking motivation? Trends to inspire initiatives
Health and immunity Boosters
Shifting away from sugar
13%
87%
Health motivation
Other motivations
13%
87%
Health motivation
Other motivations
• Improve Health
• Detox
• Support Digestion
• Sleep Well
• For Skin Beauty
• Control Weight

What’s Next?
125
The ‘always high’ concern towards health leads to specific consumer’s
preference in Beverages: Health/Immunity booster benefit and Diet No/
Less sugar are gaining popularity
Source: Worldpanel Division | Households Panel Lifestyle Survey 2020 | Urban 4 Cities Vietnam
Health/Immunity Boosters Shifting away from Sugar
Consumers are becoming towards health-
conscious, which has opened doors for
acceleration of NAB like RTD Tea.
Stay relevant through communication
that is capturing emerging concern on
health and immunity benefit.
Ready-to-drink Tea “I prefer to buy low/ free sugar drinks” - % Agree
Immunity boost messaging from NAB players
Non-alcoholic beverages market can see pockets of growth when consumers are
choosing more No/Less Sugar products.
Tea+
No Sugar
Artichoke tea
Vfresh less sugar
Pepsi Zero
Calories Lemon
MAT Aug 2021 vs YA
+22%
2010 2020
63% 80%

•
Spending on FMCG soared up during Covid, which was mainly
driven by the rise of Packaged Food. However, the spending
on Beverage decreased during Covid, which was driven by the
decreasing spending on alcoholic beverage, but still showed its
importance in Tet season. Despite slowing down due to less buyers
to the categories, non-alcoholic beverage still remained stable in
short term and maintained developing in long term with bigger
buyer baskets.
•
Elder shopper groups (30Y.O) reduced their spending on NAB in
Covid times. However, those groups still had tendency to buy NAB
in long term.
•
Because of strict lock-down period, proximity stores and minimarts
became more preferred by shoppers for NAB. They also showed
gradual expansion in long term, while big formats like HyperSuper
and Wetmarket suffered shrinkage. Gifting also played as a
indispensable channels for NAB.
•
Impacted by movement restriction, shoppers tended to increase
their spending on categories having high OOH usage, which
denotes a movement from OOH to IH consumption during the
pandemic.
•
Tet plays crucial role within Non-alcoholic beverages market,
hence, it is important for manufacturers to ensure presence that
fits target consumers demands and preference for both gifting and
real purchasing occasions
•
Diversity in flavor will be potential innovation which play roles not
only expand portfolio but also encourage new experience.
•
Impressive growth of Minimarket post potential reach point for
Non-alcoholic beverages to recruit buyers. However, as market is
about to moving towards new normal, it is important to point out
potential threat from Food Delivery and Ready-to-serve drinks.
•
Introducing products bringing out to in and more in-home
communication helps manufacturers stay ahead of the game
amid pandemic situation. However, remaining relevancy among
out-of-home occasion cannot be ignored in new normal.
•
Rising health and immunity concerns under pandemic situation
has created opportunity for Non-alcoholic beverages market to
capture preference for Healthy and immunity booster and Diet/
Less Sugar products.
What’s
Now?
What’s
Next?

Beauty Market
What’s Now?
127
B E A U T Y M A R K E T

Beauty Market 128
What kinds of product are included?
Hair care Skincare Body care Make-up
Hair conditioner
Hair colorant
Hair styling
Facial cleanser
Cosmetic remover
Facial moisturizer
Toner
Mask
Eye care
Sun protection
Hand lotion
Body lotion
Shaving products
Deodorant
Fragrance
Lip Make-up
Eye Make-up
Face Make-up
Nail Make-up
Mixed Make-up

Beauty Market 129
Despite the acceleration in the first half of 2021, Beauty products
witnesses a great decline in spending under the impact of the
latest wave
Source: Worldpanel Division | Households Panel | Urban 4 Key Cities Vietnam | Data updated Sep 12th 2021
% Spending change of Personal care sector (vs YA)
9 11 8
-1
-11
13
-14
-9
-40
Personal Care Hygiene Products Beauty Products
2020 H1’21 Q3’2021
URBAN 4 CITIES

VIỆT NAM INSIGHT COLLECTION 2022

VIỆT NAM INSIGHT COLLECTION 2022

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Similar to VIỆT NAM INSIGHT COLLECTION 2022

Similar to VIỆT NAM INSIGHT COLLECTION 2022 (20)

More from MarketingTrips

More from MarketingTrips (20)

Recently uploaded

Recently uploaded (20)

VIỆT NAM INSIGHT COLLECTION 2022