Vietnam has made great economic progress in Q1, 2021. With GDP forecast to grow 6.5% in 2021. Some households have been hard hit with job losses and lower household income for most over the past year. However, incomes are recovering rapidly. Most consumer packaged goods have continued to grow, albeit at a slower pace than in 2019. Consumers have sought out more value-driven alternatives and this trend will take longer to reverse.
Start marketing planning now to stay ahead of the big bounce back. The pandemic has forced changes in consumer behaviour. Life will not return to normal, a new normal will evolve with new habits and rituals. Consumer mindsets and behaviours have changed, some will be temporary but others will become permanent. These changes will need to be rapidly understood and your product, price, positioning and channel will need to be adjusted. Contact us at ask@cimigo.com if you need help.
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Continue reading “Marketing planning for the big bounce back”
Vietnam recorded stellar macro economic performance in 2020. Bouncing back from the impact of COVID and with her highly successful economic management.
