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VietNamNews

Rising food prices limit buyer choices

Update: October, 14/2013 - 09:53
Rising food prices will restrict grocery product choices for 70 per cent of Vietnamese people, according to a new Nielsen study.— File Photo

HCM CITY (VNS)— Rising food prices will restrict grocery product choices for 70 per cent of Vietnamese people, according to a new Nielsen study.

The Viet Nam survey was part of the Nielsen Global Survey of Inflation Impact, which had over 29,000 Internet respondents in 58 countries and aimed to understand how people of all income ranges adjust to rising food prices.

The study showed that price increases would not only affect food cooked at home. The Vietnamese respondents would also change their spending on dining out (66 per cent), buying new clothes (63 per cent), recreation and entertainment (46 per cent), travel/vacation (46 per cent) and communications services (37 per cent).

Nearly two-thirds of local respondents said they would buy fewer candies, cookies and other sweets, carbonated beverages, alcoholic beverages, prepared meals, chips and other snack foods.

Rising prices also altered where and how people shopped. Thirty per cent of Vietnamese respondents indicated they would grow their own food or shop more at clearance and discount stores.

More than half would shop in traditional markets and 47 percent would shop less in supermarkets or convenience stores.

During such a time, many look out for promotions; 40 per cent of local consumers said they would use social media to find specials. — VNS

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