Proactively seizing market opportunities

According to the General Statistics Office, Vietnam's GDP grew by 7.09% in 2024 and is expected to reach an 8% growth rate in 2025, driven by a strong recovery in domestic consumption and manufacturing. Many businesses in Binh Duong believe that in the context of increasing domestic demand for high-quality goods, adapting quickly to the lifestyle trend of "higher quality and greater convenience" has become vital for companies in the food production and trading sectors. As consumers increasingly prioritize high-quality products with clear origins and better user experience, local producers are finding favorable conditions to develop and innovate in order to capture market share in more premium segments.

In addition, the strong recovery of the domestic tourism industry following the Covid-19 pandemic has directly influenced consumer behavior. The sharp increase in tourist numbers has led to growing demand for convenient, easy-to-use products as well as health and wellness items. Moreover, the boom in e-commerce and modern retail channels, particularly among younger consumers, has significantly contributed to the growth of the food product market. The shift toward online shopping and modern retail preferences is radically transforming how Vietnamese consumers access and purchase goods. This trend not only presents growth opportunities, but also acts as a “litmus test” for businesses’ digital transformation capabilities and adaptability.

Encouragingly, small and medium-sized enterprises (SMEs) in Binh Duong’s food industry have shown agility in transforming their product models and development strategies to be in line with changing consumers’ shopping forms. These businesses are now focusing on enhancing the user experience instead of relying solely on price competition. They also actively participate in trade promotion fairs to keep up with consumer preferences, needs and transaction habits. To strengthen their internal capacities, businesses are continuing pursuing strategies of product premiumization, innovation and market expansion to be more appropriate with new consumer trends.

Reported by Khai Anh-Translated by Kim Tin