Japanese commodities and food have become increasingly popular among Vietnamese consumers, creating opportunities for firms from both countries.

AEON is one of Japan’s largest supermarket chains in Vietnam

Japanese products are a favourite of Vietnamese people, with big urban areas featuring various Japanese retailers and restaurants like AEON, Ministop, Family Mart, Tokyo Deli, Gyu Kaku and Oshaka Ohsho.

Kazuhiro Takahashi, director of the Japan External Trade Organisation (JETRO)’s agriculture, forestry, fisheries and food division, said that the Vietnamese market has potential for Japan’s agricultural products.

Strong sales have been reported for Japanese salmon, tuna, Kobe beef and eel. Those products also receive a positive response from the public.

Experts said that Vietnamese consumers are ready to splash out on safe and high-quality food. Revenue from Japan’s fresh vegetable at Japanese supermarkets in Vietnam increases more than 200 percent each year and the figure is forecast to experience strong growth.

In addition, consumers in Vietnam have snapped up Japanese cosmetics due to their safety and quality.

According to Japanese investors, Vietnam is enticing foreign investment into food and retail sales as the country has a young population with 60 percent of its 90 million people under 35 years old. They said that increasing incomes will boost spending among young people.

Takimoto Koji, head of JETRO in Ho Chi Minh City, said that Vietnamese consumers’ desire for Japanese products coupled with strong flow of Japanese capital into services, consumption and cuisine have created a drive for Vietnamese businesses’ development.

When bringing their products to Vietnam, Japanese businesses have adapted to fit local tastes. They have also worked with Vietnamese material suppliers to reduce costs and lower product prices.

One of Japan’s largest supermarket chains in Vietnam, AEON has given top priority to selling Vietnamese products. On AEON’s shelves, 80 percent of its goods are made in Vietnam with the remainder imported from Japan and other countries.

According to a representative from AEON Vietnam, Japanese retailers want to bring Vietnam’s high-quality products closer to the consumers, so their presence in Vietnam is a great opportunity for Vietnamese commodities to use the distribution system of large retailers.

This will help Vietnamese businesses enlarge their domestic consumption market while affirming their brand names in Japan and other foreign nations.

However, products need to have clear origins and undergo food safety examinations before they appear on the shelves of Japanese supermarket chains.

Vietnamese enterprises should focus on producing safe products meeting quality standards of foreign nations. This will help them take part in global supply chains.

VNA