Consumers willing to pay premium for better quality: survey

- Friday, 24/03/2023, 11:39

Most of the respondents in a nationwide survey have declared they will pay a premium for high-quality Vietnamese products that meet specific standards, and are originally traceable, good for health, and environmentally friendly.

Consumers willing to pay premium for better quality: survey -0
Source: VNA

(VNA) The opinion survey, launched in September last year, polled consumers in person and virtually and collected their votes on high-quality made-in-Vietnam products, with more than 61,000 votes recorded.

It revealed that green consumption has become a trend in the domestic market, and consumers are paying more attention to the factors of safety, product origin, and function in addition to quality and prices. Some 43% of the polled people were concerned that businesses might use banned substances in production and preservation, and that raw materials are not of high quality for production.

For the retail sector, general trade (GT) still reigns supreme, while modern trade (MT) is attractive to those fond of fast moving consumer goods (FMCG). Meanwhile, multi-channel shopping is a popular trend now and in the future and, as a result, it will gradually make the boundary between MT and GT blurred and bring more convenience to shopping activities.

Although online shopping is no longer a boom as it was during the COVID-19 lockdown, it remains very popular, especially among young shoppers. The development of e-commerce is forecast to be a trend long into the future. Online information channels are also increasingly being approached by consumers, with more than 40% of the respondents learning about products through forums, social networks, websites, and online newspapers, among other methods.

Vu Kim Hanh, chairwoman of the business association of high-quality Vietnamese products, said that these new trends promote consumption habits across the globe, as consumers become more and more aware of the relationship between their health and wellness and the surrounding ecosystem. Food that is clean, safe, and verified to meet quality standards or certified organic is also the first choice for many people, she added

Nguyen Thi Ngoc Anh