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Threats and opportunities during turbulent 2020

Update: November, 25/2020 - 09:39

On November 19, Tupperware Vietnam opened its 150th official store in Vietnam. This event marked a key milestone for Tupperware Vietnam despite the current global difficulties being caused by the COVID-19 pandemic.

Vietnam’s retail market in review

2020 has been a turbulent year not only because of the global crisis caused by the COVID-19 pandemic, but also due to natural disasters and floods in several countries, including Vietnam. This has strongly affected Vietnam’s business activities in terms of both operational structure and results. Moreover, COVID-19 has had an impact on consumer behaviour globally, and particularly in Vietnam. According to Vietnam Report’s research, up to 85.3% of consumers reduced their spending during the pandemic.

Vietnam Report’s research highlights that retail has been the most heavily affected industry by COVID-19. By Q2/2020, a huge amount of retail chains had been forced to close. The number of retail companies applying for temporary closure increased 21 per cent compared to the same period in 2019.

Due to social distancing requirements as well as decreased incomes during the outbreak, consumer behaviour inevitably started to change. Consumers tended to cut unnecessary spending and have home-cooked meals more often. This unexpectedly brought an opportunity for food processing and storage product brands like Tupperware, whose recently opened 150th store in Vietnam attests to its spectacular development in the country.

Mrs Trang Do – General Director of Tupperware Vietnam (left), presents the authorised distributor certificate to Mrs Van Anh – Representative of Tupperware Trung Kinh

Currently, Tupperware's revenue growth is estimated at 82 per cent compared to the same period last year. Besides, Tupperware Vietnam has also added 55 new stores to its retail chain. The world class household brand plans to reach a new milestone of 155 stores by the end of 2020.

Tupperware - A signature authorised retail model

For over 70 years, Tupperware has been known as one of the world’s leading manufacturers of innovative technology, providing solutions for storing, processing and serving family meals around the world. Tupperware’s vision, policies and operations are all built on Tupperware’s commitment to sustainable development for society.

Tupperware Trung Kinh's Grand Opening (From left to right: Mrs Van Anh – Representative of Tupperware Trung Kinh; Mrs Nguyen Thu Thuy – Miss Vietnam 1994;  Mrs Trang Do – General Director of Tupperware Vietnam)

After entering the Vietnamese market in 2016, the household manufacturing giant is gradually achieving its goal of "Tupperware in every home".

Tupperware's success today is certainly not fortuitous; it mainly comes from its signature authorised retail model. Specifically, Tupperware Vietnam has developed a sophisticated set of processes to help authorised business partners set up a business as soon as possible. This includes human resources support, sales training, business activation activities, promotions, business planning and roadmap design. Consequently, the revenue from Tupperware's authorised stores has grown by an average of 27 per cent continuously over the past three years.

Tupperware Vietnam always stands side by side with its authorised stores to differentiate product value and optimise customer experience.

 

Tupperware Vietnam – under Tupperware Brands USA – is a world class brand for household products.

For more information about Tupperware, contact:

Hotline: 083 820 7015

Website: tupperware.com.vn

 

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