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Entrepreneurial capacity of FMCG companies in Vietnam's post-Covid-19 era

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DOI: 10.48047/NQ.2022.20.15.NQ88650

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NeuroQuantology|November2022| Volume 20 | Issue 15 | PAGE 6526-6540| DOI: 10.48047/NQ.2022.20.15.NQ88650
Hua Thi Bach Yen / Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era

Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era

Hua Thi Bach Yen (*)

Van Lang University, Vietnam
69/68 Dang Thuy Tram street, Ward 13, Binh Thanh district, Ho Chi Minh City, Vietnam 6526
yen.htb@vlu.edu.vn
Nguyen Hoang Tien
Gia Dinh University, Vietnam
(*) Corresponding author: Hua Thi Bach Yen

Abstract:
This article deals with the way to improve the start-up capacity of businesses of FMCG industry when
the Covid-19 pandemic is considered to be over in Vietnam. The FMCG industry is one of the industries
most affected by Covid-19 pandemic and in recent times, many businesses have gone bankrupt.
Therefore, it is necessary to revive the entrepreneurial spirit of potential FMCG industry businesses
when the Covid-19 pandemic has just passed in order to contribute and have a worthy place in the
economy that has gradually returned to normal growth trajectory.
Keywords: FMCG,retail industry, entrepreneurship capacity, Covid-19
DOINumber:10.48047/NQ.2022.20.15.NQ88650 NeuroQuantology2022;20(15): 6526-6540

Acknowledgment: This research is partly funded by Van Lang University and Gia Dinh University in
Vietnam.
1. Introductions essential consumer goods, food and foodstuffs,
1.1. General situation meeting the needs of consumers (Ferris and
In the first quarter of 2022, the total retail Voia, 2012).
sales of goods and service revenue has a Total retail sales of goods and services in
remarkable growth compared to the same April 2022 reached VND 455.5 trillion, up 3.1%
period last year, goods are abundant, over the previous month and up 12.1% over the
purchasing power tends to increase.upward same period last year. In 4 months, the total
direction. The situation of Covid-19 disease is retail sales of goods and services reached VND
gradually being controlled and has begun to 1,777.4 trillion, up 6.5% over the same period
decrease deeply. Tourism activities are last year.In general, the total retail sales of
gradually restored, many programs to connect goods and services in the first April of 2022 had
supply and demand, trade are organized, an outstanding growth compared to the same
production and business activities of people and period last year, the goods were abundant, the
businesses are also gradually recovering (Hieu purchasing power tended to increase. In which,
and Duc, 2022; Dana, 1994). retail sales of goods in the first four months of
The demand for production of goods for the year increased by 7.6% compared to the
consumption and export together with the same period last year (only food and foodstuffs
impact of fluctuations in gasoline prices, the increased by 13.2% due to rising commodity
price of raw materials on the world market is prices; on the contrary, the group of garments)
still complicated and at a high price level, has and household appliances, tools and equipment
pushed up the prices of petroleum products. decreased by 3.5% and 4.6% respectively
These goods in the domestic market increased, because people's incomes are still difficult after
but in general, the price level was still basically the prolonged pandemic period);
well controlled, ensuring an abundant supply of

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NeuroQuantology|November2022| Volume 20 | Issue 15 | PAGE 6526-6540| DOI: 10.48047/NQ.2022.20.15.NQ88650
Hua Thi Bach Yen / Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era
accommodation increased by 5.2%; tourism
increased by 10.5% (Hieu and Duc, 2022).
Commodity market in April 2022 had no
unusual fluctuations. The demand for
household goods, equipment, clothes and shoes
increases when the weather is gradually turning
to summer. Due to the long holidays and many
domestic tourism stimulus programs being
implemented, the demand for tourism and
services of the people has increased
significantly.The market of essential
commodities did not have large fluctuations in
supply and demand, but due to the influence of
the price increase in the world market, the
prices of some domestic commodities such as
fertilizers, animal feeds and raw materials,
construction steel increased compared to the
previous month. Prices of fuel and energy
commodities such as petrol and oil continue to
be managed in the direction of following the
movements of world prices but limiting the
fluctuation range to stabilize the domestic
market adjusted up by world prices.
1.2. Urgency of research
Vietnam's retail market in recent years has
been assessed as one of the most attractive
retail markets in the world. With an economic
growth rate of over 8% for many years, 50% of
the population is between the ages of 25 and 33,
70% of income is spent on consumption,
opportunities open up for retailers in general
and Vietnamese retailers in particular are
huge.However, since Vietnam joined the World
Trade Organization (WTO), the challenges
burdening Vietnamese retailers are not
small.Vietnam's commitments on opening up
the retail market are highly appreciated. This
means that the retail industry in Vietnam will be
affected by the market opening process within
the framework of implementing WTO
commitments (Dana, 2010).
Some Vietnamese retail businesses will be
hurt by having to compete with retail groups in
the world. At the present time, a number of
foreign retail groups have been operating
successfully in the Vietnamese market. Others
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are making better preparations to dominate the
Vietnamese market as they have done in many
other countries. The pressure on domestic
distributors and retailers is huge. Facing
powerful foreign corporations in poor
infrastructure conditions, the State has not had 6527
clear policies and plans for the retail market,
and has faced many difficulties in terms of
capital and human resources. In terms of
logistics and experience, domestic retailers are
in danger of losing at home. And the
consequences will not only stop at the loss of
the retail market to foreign corporations, but
also the collapse of domestic manufacturers,
import and export activities.
1.3. Research objectives
This article will provide an overview
analysis and assessment of the retail market in
Vietnam and a SWOT analysis for Vietnamese
and foreign retail groups, some
recommendations on the trend of retail
industry in Vietnam as well as development
direction of Vietnam's retail market in the
future, thereby proposing solutions to improve
the competitiveness of Vietnamese retail
enterprises.
2. Theoretical framework
2.1. Entrepreneurship concepts and issues
2.1.1. FMCG concept
Fast Moving Consumer Goods (FMCG) are
products that sell quickly at a relatively low cost.
These goods are also known as consumer
packaged goods. FMCG are non-durable
consumer goods that sell like hot bread because
they often come with low prices and high
convenience. Their examples include
toothpaste, ready-made foods, soaps, cookies,
notebooks, chocolate, etc. These products are
often stacked on the shelves of supermarkets
like Walmart. Less durability, high demand, and
low prices are some of the characteristics of
FMCGs that cause them to sell off quickly.
These goods are purchased frequently,
consumed quickly, at low prices, and sold in
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Hua Thi Bach Yen / Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era
large quantities. They also have high sales when
they hit store shelves.
2.1.2. Start-up problems
It is not easy for startups in the consumer
goods and food industries to find a place in
modern retail channels such as supermarkets
because the scale of these businesses is still
small and has not met the basic criteria. version
of the modern distribution system.Businesses in
the consumer goods industry must "shake
hands" with e-commerce businesses to solve
problems with sales channels and goods
transportation. Therefore, FMCG personnel
need to be equipped with new knowledge and
skills related to digital transformation and IT
application to be able to go a long way in the
next 5-10 years. Digital transformation is
increasingly becoming a must-have strategy for
businesses, especially after 2 years of the
COVID-19 pandemic. Companies in the field of
FMCG. Trading in items like food and other
everyday essentials - is no exception. The FMCG
industry has experienced major digital
transformations in the past two years.
Therefore, personnel working in this industry
also face many changes and new requirements,
if they want to stay in the profession, especially
skills in e-commerce and the application of
Information Technology in all industries. daily
work activities (Nazareno et al., 2019; Tien,
2015). Navigos Group, a leading human
resource recruitment service provider in
Vietnam, which owns the online job search site
VietnamWorks, has just released the report
"FMCG HR: Challenges and Opportunities in the
Marketplace" recovering from COVID-19”.
According to Navigos, in 2021, the FMCG
industry has experienced certain difficulties and
challenges when heavily impacted by the
COVID-19 pandemic.
2.2. The nature of the startup-based economy,
the industry's opportunities and challenges
Opportunities and challenges for the
country's economic development depend both
on the situation inside and outside the country,
of which the most important are internal
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resources, position and force, synergy,
development level. economy and prestige of
the country. In the same global and regional
context, opportunities open up only to those
countries that are prepared, have enough
strength and power to seize opportunities. The 6528
internal strength and synergy of the country are
also the basis for the country to overcome
challenges, and can even turn challenges into
opportunities when those challenges create
motivation and pressure to force the country to
strive toovercome (Obrecht, 2016; Peredo,
2014; Rubin and Rubin, 2005).
About the opportunity
First, we must talk about the opportunities
created by the nature of the times and by the
context of the international situation today. The
Communist Party of Vietnam has always
determined that in order for Vietnam's
revolutionary cause to be successful, it must
bring into full play the strength of the nation
and combine it with the strength of the times.
Vietnam is a low-developed economic country,
has not yet passed the capitalist development
stage, but Vietnam can develop towards the
socialist orientation, can develop the transition
to socialism is Due to the nature of today's era
as a transitional era to socialism, as the
principle stated: mankind only poses problems
that the conditions and factors to solve those
problems have arisen. presently. The era of
transition to socialism on a worldwide scale has
created an opportunity for a country that has
not yet passed the capitalist development stage
to develop along the socialist-oriented path.
About the challenge
In the coming years, Vietnam's economic
development will not only have opportunities,
but also many challenges, even threats. It is
worth noting that many of these challenges
stem from other aspects of the same factors
that create opportunities for the country's
economic development.
2.3. Factors affecting the entrepreneurial
capacity of the industry
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Hua Thi Bach Yen / Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era
The first is fierce competition with foreign
brands
Although the retail industry has great
potential for development, along with it is a
very fierce competition with the arrival of many
foreign and domestic enterprises, many
domestic and foreign enterprises forced to
leave the market (Zhao and Aram, 1995; Von
Friedrichs and Wahlberg, 2016). In particular,
foreign businesses have gradually grasped the
tastes and habits of Vietnamese consumers to
adjust appropriate business strategies to
compete with domestic enterprises. The results
of media research by Vietnam Report in the
period 8/2018 - 8/2019 also show that the top 3
leading enterprises in the industry have a close
chase in terms of information coverage on 24
topic groups. Factors affecting businesses in the
industry for at least the next 3 years. In terms of
experience in developing trade centers,
Vietnamese enterprises will face difficulties
when competing with foreign retail chains with
modern models and financial potential.
However, Vietnamese businesses are showing
strength in the field of convenience stores.
Especially, in the coming time, when the market
in urban areas is gradually becoming saturated,
the modern retail market will need to spread to
rural areas, which is a potential land for
businesses to develop. distribution channel
development. The rural area with nearly 80% of
the area and accounting for more than 70% of
the population of Vietnam is a fairly large
market size and this area is experiencing an
exponential increase in shopping demand due
to the rapid improvement of income.
Second, the traditional sales channel is still
strong
Although e-commerce channels grow
rapidly, traditional sales channels still dominate
the market. In a survey by Vietnam Report, it
was also found that 98% of retail businesses
believe that almost all revenue comes from
stores and agents, only about 2% comes from
sales through e-commerce channels. This is also
the driving force for distributors of consumer
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goods to enter the Vietnamese market. In 2018
and the first half of 2019, the market witnessed
the opening of hundreds of new convenience
stores and supermarkets to meet the increasing
consumer demand in major cities across the
country. Currently, Vietnam's retail market has 6529
more than 3,000 convenience stores (doubled
from two years ago), more than 8,000 markets
and 2.2 million retail businesses. It is expected
that in the fourth quarter of 2019 and in the
whole year of 2020, many businesses will
continue the trend of developing retail chains in
the nationwide market (Tien, 2021, 2022; Duc
and Hieu, 2022).
The third is the impact of Industry 4.0 on the
retail industry.
The trend of applying industry 4.0
achievements to meet the needs and tastes of
consumers is forcing retail businesses to change
to survive in today's fierce competitive
environment (Klingler-Vidra et al., 2021). In fact,
the industrial revolution 4.0 in the retail sector
is quietly taking place and creating many
development opportunities for Vietnam with
breakthrough changes from diverse, efficient
and fast service standards. based on digital
technology. In the question of identifying the
main trends of the retail industry for at least the
next 3 years, the survey results of Vietnam
Report also showed that among the top 3 most
mentioned trends, businesses also mentioned
the participation in the retail industry.
Fourth is the trend of investment and M&A in
the retail industry.
With an investment environment that is
considered to be much improved in the
direction of creating favorable conditions for
investors, domestic and foreign retailers are
tending to expand their operations in Vietnam
through strategic strategies. M&A strategy,
franchising and other cooperation models to
maximize the market size with a population of
nearly 100 million people. Many large-scale
M&A deals, such as Metro Cash & Cary Vietnam
(including 19 centers and related real estate
worth €655 million) and Big C Vietnam (32
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Hua Thi Bach Yen / Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era
supermarkets/hypermarkets) worth 1.14 billion
USD. In addition, the market also witnessed a
strong rise of domestic investors, typically
Vingroup has implemented M&A activities with
famous retail chains VinatexMart, OceanMart,
Maximark and Fivimart; BRG Group with
Intimex and Hapro; Saigon Co.op with Auchan
chain (France). In the coming time, Vietnam is
expected to continue to be an attractive M&A
spot in the region and the retail industry will
certainly remain one of the industries that
attract the most capital from M&A. The survey
results of Vietnam Report with retail businesses
also show that the third in the top 5 driving
forces for business growth in the coming time is
M&A.
Fifth, the communication activities of
Vietnamese retail brands are not strong
enough.
In the context of increasingly fierce
competition, statistics on information
encryption data in the media show that retail
businesses are still very limited in appearing in
the media (only 26% of businesses studied).
research has a presence at least once a week),
with relatively modest information coverage
(24.2% of enterprises reaching 12/24 subject
groups). The rate of encrypted information of
retail enterprises by information sources in the
media. According to the World Bank's forecast,
household spending will increase by an average
of 10.5% per year along with a strong growth
rate of the middle class. Currently, about 70%
of Vietnam's population is economically secure,
of which 13% belongs to the middle class by
world standards. These income classes are
growing rapidly, about 20% per year, in the
period 2010-2017. Since 2014, an average of 1.5
million Vietnamese people has entered the
middle class each year, showing that
households are continuing to climb the
economic ladder after escaping poverty (Mai,
2019, 2019a). Economic growth, improving
living standards and the rise of the middle class
are a solid foundation to fuel the growth of the
retail industry in the coming time. In addition,
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Vietnam is having the fastest urbanization rate
in Southeast Asia, so the retail industry is
forecasted to have a lot of potential for growth
in the coming period. However, difficulties and
challenges from constantly changing consumer
needs are requiring businesses to have flexible 6530
policies to adapt to technology-based
competitive trends in order to match
consumption habits of a market with a young
population like Vietnam.
2.4. Improve industry startup capacity and
increase competitiveness in the industry
The State has stepped up to improve the
legal environment, mechanisms and policies for
businesses doing business in FMCG. Accordingly,
continuing to promote the implementation of
reducing business costs for enterprises, first of
all, illegal costs arising from state management;
Preventing and repelling acts that generate
unofficial costs for businesses; Reducing and
simplifying regulations on investment, land,
construction, tax payment, and social insurance
to raise Vietnam's Doing Business Index to
achieve the average score of ASEAN 4. At the
same time, no stop reforming the business
environment and improve national
competitiveness; Studying the content of new
generation FTAs, reforming institutions,
creating an environment and economic policies
that are suitable to the content of these
agreements. To make it easier for businesses to
access credit sources, it is necessary to
harmonize the interests of three factors: credit
institutions, enterprises and the State's
mechanisms and policies.
Banks need to renew credit mechanisms
and policies according to market principles;
improving lending procedures, especially for
small and medium enterprises in order to
shorten the loan approval time; Strengthening
support in capital, mechanisms, policies, laws,
trade promotion, education-training, consulting
on modern equipment and technology for
enterprises.
The State's policy should create
appropriate institutions, develop the science
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Hua Thi Bach Yen / Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era
and technology market; supporting training and
developing human resources for enterprises,
equipping them with basic knowledge and
qualifications for business owners, directors,
managers and employees. Create an
environment to encourage, form and develop
business links; strengthen links and cooperation
vertically and horizontally; establish customer
relationships and strategic partnerships to
develop exports in the long run.
First of all, every entrepreneur regularly
updates with new knowledge, skills necessary
to be competitive in the market and access the
knowledge economy. Actively renew business
thinking, improve management capacity,
productivity, quality and competitiveness of
products and services; standardize production
and business to meet the requirements and
criteria of international markets. Enterprises
need to invest in the research phase to grasp
the changing trend of market demand, the
product design phase to create more added
value; Applying appropriate technologies, both
ensuring the creation of quality products that
meet the needs of the market, and low
production costs.
Each enterprise strengthens links, business
cooperation to develop production chains,
value chains, enhance added value of products
and services, move to a higher ladder in
regional and global value chains. bridge;
Innovating production and business models in
association with sustainable development goals:
clean, green, economical production, efficient
use of energy, environmental protection,
towards disadvantaged people in society.
At the same time, enterprises need to
focus on developing human resources to meet
the requirements of technological innovation,
production and business processes, join the
global business chain with the diversification of
high-quality products, international quality
service; Strengthening training, fostering and
developing human resources of enterprises to
meet development requirements in the
direction of equipping with new knowledge and
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skills; Innovating production and business
models in association with the goal of
sustainable development.
3. Research methods
3.1. Data sources 6531
In research, it is extremely important to
have access to and have some sufficient data
for reporting purposes. Therefore, in addition to
focusing on the theoretical basis, the author
also needs to find out suitable data sources
related to his topic, here are some data sources
taken from reputable websites such as:
- Ministry of Industry and Trade
( http://tttm.vecita.gov.vn )
- Vietdata ( http://www.vietdata.vn )
- General Statistics Office
( https://www.gso.gov.vn )
- VietNamNet (https://vietnamnet.vn)
3.2. Methods of data collection
Primary data is data that is not yet
available, collected for the first time, collected
by the researcher himself. In fact, when the
secondary data does not meet the
requirements of the research methods in the
thesis, or the appropriate secondary data
cannot be found, the researchers will have to
collect primary data. The method of collecting
relevant secondary data requires search work,
consisting of two interconnected stages:
Step 1: Determine if the type of data you
need is present as secondary data.
Step 2: Locate the exact data you need.
Primary and secondary data collection methods
There are many clues to what secondary
data to look for:
- Reputable national newspapers are
useful sources, which often summarize
the results of recent government
reports.
- Books on specific topics can provide a
clear indication of what secondary data
sources are available in the field of
study, for example in small businesses.
- Tertiary documents such as indexes and
catalogs can also assist in locating
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Hua Thi Bach Yen / Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era

secondary data. Full catalogs of these

data can be accessed and searched on 4. Research results and discussion
the Internet. 4.1. Current status of start-up capacity of
Once it is certain that secondary data is FMCG industry
likely to be present, it is necessary to find out The covid pandemic is a problem for the
their exact location. Vietnamese economy in particular and the 6532
- For government-issued secondary data, world economy in general, even though
it's relatively easy. Vietnam has now stabilized its economy in the
- Locating published secondary data best way. However, the consequences of the
stored in libraries or secondary data in Covid-19 epidemic for consumer goods sellers
archives is relatively straightforward. are relatively large. Many consumer goods
- The data stored by organizations is sellers have struggled to survive the pandemic,
more difficult to locate. For and the results are not always favorable, most
intra-organizational data, the of those who have just joined before the
information or data manager in the pandemic process often have to withdraw from
appropriate department probably the market. That creates favorable factors for
knows exactly what secondary data is new traders to enter the consumer goods
kept. market when Vietnam's economy has stabilized.
Data on the Internet can be located through Not to mention the war between Russia and
the use of portals and search engines, which Ukraine, which caused the price of petrol and
help find all the possible places that match gas to increase greatly, thereby creating a lot of
keywords related to the Internet. your research tightening in the spending of shoppers, and
question or purpose. creating price requirements to match. financial
Once we located secondary data set, we after translation.With the development of
need to be sure it will meet our needs. For E-commerce, the FMCG industry is making
textual data or data in the form of books the significant progress, increasing from 50% to 68%
easiest way is to obtain and evaluate a data in the first 10 months of 2020. In addition, the
sample and a detailed description of how this traditional retail models of the consumer
data was collected. For survey data to exist in a industry. Fast growth is also very positive such
computer-readable form there is often a cost as drugstores, mini supermarkets, wholesale
related. models, supermarkets, markets, and grocery
3.3. Research process stores. The packaged food industry is the
- Step 1: Define and clarify the research industry with the most significant growth and
problem attention for cooking products and snacks. The
- Step 2: Research related theories and beverage group is also expected to be a product
evaluation models that is expected to open a new era with many
- Step 3: Determine the research model trends and innovations to stimulate consumer
- Step 4: Build scales and questionnaires demand.
for research 4.2. Factors affecting the start-up capacity of
- Step 5: Investigate, collect and process FMCG industry
research Economic environment: This environment
- Step 6: Analyze research data greatly affects the retail activities of FMCG
- Step 7: Presenting the research results because when the economy develops, people's
- Step 8: Conclusion and incomes also increase, so consumption costs
recommendations, perfecting the will be used through more open. On the
research contrary, if the economy faces many difficulties,

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Hua Thi Bach Yen / Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era
people must increase their savings to save
money, which leads to a reduction in spending
costs and a decrease in the amount of goods
consumed.
Socio-cultural environment: when investing
in production and business of any product,
enterprises must consider issues of population,
customs and habits, population density, living
habits, and interests. In the socio-cultural
environment of each market region in which
the enterprise intends to start a business in that
area.
Science and technology environment: with
the current strong development of science and
technology, the market changes day by day, the
application of modern scientific and
technological achievements to production and
business activities. Business will bring
businesses many advantages but must have
corresponding development with the
continuous changes in technical factors to
master technology and make full use of the
advantages that science and technology bring.
in the course of business.
Legal environment: greatly affects sales
activities of enterprises. Businesses must have a
number of papers to be able to do business
such as business licenses, certificates of food
safety and hygiene. Since then, consumer
behavior will also change, consumers will be
more concerned about product quality,
packaging design, prestige and brand.
Natural environment: includes external
factors such as climate, geographical location,
which can greatly affect the preservation,
storage, and speed of goods transportation.
Therefore, businesses must have a specific sales
network and an appropriate form of sales force
organization to limit the negative impacts of the
natural environment on goods and the speed of
goods consumption.
Competitors: usually any business operating
for profit purposes understands the competitive
element that always exists in business. This
shows that businesses must carefully consider
competitors to have specific policies and plans
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to cope with and outperform competitors. That
requires managers to have a strategic vision,
have a specific sales organization plan in
accordance with the requirements of the
market.
Capital: is a factor that directly creates 6533
competitiveness for enterprises and will
determine the technical facilities and business
technology that enterprises apply. Enterprises
need to find the most optimal approach to
capital and can ensure to mobilize capital in
necessary situations, at the lowest cost to plan
and decide to use capital effectively for the
business. Karma. Enterprises with strong
financial resources and large scale will be
flexible in choosing a sales network compared
to small-scale enterprises with limited financial
resources. Therefore, before implementing,
businesses must consider and calculate to have
the most reasonable sales organization scale.
Human resources: according to the
management concept of "Management in the
end is people management". People are always
an important resource and play a central role in
all issues related to production and business
activities of enterprises. Stemming from that
importance, businesses must always pay
attention to and raise the issue of training and
improving the capacity and qualifications of the
enterprise's workforce. Enterprises need to
create a dynamic and positive working
environment for employees so that employees
can be motivated to work. The head of the
business also needs to pay attention to the
efforts and results that his employees achieve
in order to promptly motivate and have worthy
rewards.
4.3. Impact of the Covid-19 pandemic on
start-up capacity in FMCG retail industry
Covid 19 has affected almost every aspect
of consumers' personal lives, heavily affecting
all economies around the globe, forcing
businesses to be creative and quick to react to
adapt to trends. and new consumption patterns
of people.According to the Ministry of Planning
and Investment, the number of newly
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Hua Thi Bach Yen / Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era
established businesses in the first 11 months of
2021 is 105,618, down 15% over the same
period in 2020.
- Competition: Vietnam market has more
and more participation of foreign
suppliers. With more than 700
supermarkets and shopping centers,
foreign retailers account for 40%.
Therefore, during the epidemic period,
the market narrowed and competition
became fiercer, businesses had to make
more efforts to gain a foothold in the
market.
- Transportation: the circulation of goods
becomes more difficult during the
epidemic season,
- Raw materials: become scarce and
scarce, consumers do not have enough
to use, leading to supply chain
disruptions
- Prices: most things increase rapidly
when the epidemic enters the epidemic,
increasing prices make customers have
to control their spending more carefully
Customer demand has also decreased.
Some stores do not need to temporarily close
during the epidemic season so that businesses
can maintain other urgent business activities.
Vietnam experienced two Covid-19 outbreaks in
the first half of 2020, however, the figures from
the retail industry still show very positive signals.
In June, the total retail sales of consumer goods
and services was estimated at VND 431 trillion,
up 6.2% from the previous month and up 5.3%
over the same period last year. Generally, in the
first 6 months of the year, it reached VND
1,895.6 billion, accounting for 79.6% of the total
and up 3.4% over the same period last year.
4.4. Enhancing start-up capacity in FMCG retail
in the post-Covid-19 era
Supermarket systems always actively
contact directly with manufacturers and
suppliers, always together with manufacturers
to receive goods as quickly as possible. Retailers
also offer many scenarios to have many
alternative suppliers, ready for the situation
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that if a supplier cannot meet or is blocked due
to a COVID-19 case, there will be an alternative
solution. to avoid disruption of the supply chain
of goods. In addition, the retail industry is
implementing COVID-19 vaccination for
employees throughout the system. The retail 6534
industry has also proposed to prioritize
vaccination for 100% of sales staff. The retail
industry is very difficult in the context of the
COVID-19 epidemic. Food groups have
increased recently due to the needs of the
people, but the proportion of this group of
products contributing to the industry's revenue
is not much. Meanwhile, the group of
electronics, which accounts for a large amount
of revenue, is being greatly affected. Despite
such difficulties, we see that there is still an
opportunity for the retail industry. Specifically,
the COVID-19 pandemic is creating new
opportunities for online sales channels and may
bring new prospects for the retail industry in
the coming time. The retail industry previously
only sold directly, but in the context of the
COVID-19 epidemic, it is opening a
multi-channel sales method in which the
industry is promoting online sales channels. In
fact, during the epidemic, the amount of goods
purchased online increased many times
compared to before and increased compared to
the direct sales channel. Therefore, the retail
industry is strengthening its professionalism in
this stage from upgrading the system,
processing orders and delivery methods to
better meet the needs of the people.
5. Conclusions and recommendations
5.1. Conclusion
The retail industry is going through a
period of prolonged volatility. Factors such as
changing consumer behavior, increasing
internet shopping and challenging economic
conditions are changing the way retailers
operate and interact with their customers. The
Covid-19 pandemic has added to these
challenges, fueling trends such as increased
online shopping. Just like the previous Covid
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Hua Thi Bach Yen / Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era
wave, the retail industry faced similar
difficulties and challenges. But before the
impact of the fourth Covid wave is more
serious, with restrictions due to distance
regulations, blockades and operating hours in
many places, these difficulties are more
nuanced.
Supermarkets and shops are places where
people gather, so the implementation of
relevant regulations and procedures to
maintain the supply of essential goods on the
basis of ensuring the implementation of
regulations on Covid-19 prevention and control.
-19 is a huge difficulty for retail businesses. In
many localities, essential goods trading
establishments are required to perform "3
on-site" and organize periodic SARS-CoV-2
testing while the current facilities of many units
are not guaranteed. affect the mental health
and well-being of workers. In the past time,
many large supermarkets have also had to close
for a long time to disinfect, trace and test when
employees, customers and partners are
infected with Covid-19, which has eroded the
profits of businesses. must cover losses to
stabilize prices.
Experts and retail businesses in Vietnam
Report's survey identified four external factors
that most affect the results and strategies of
businesses in the coming time, which are: The
ability to control the disease and the speed of
the business. vaccine coverage; Behavioral
change and consumer approaches; Consumer
income and expenditure levels; The
development of e-commerce and online
shopping trends. Thus, the growth driver of the
retail industry in the last months of the year
comes from the online sales channel and
customer demand for fast-moving consumer
goods, food, food, health care and food groups.
The industry serves the needs of studying and
working online.
5.2. Proposal conclusions and
recommendations
5.2.1. For the state and government at all
levels
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Firstly, ministries, branches and localities
uphold the spirit and responsibility, carry out
research on the tasks assigned in Resolution No.
105/NQ-CP with the spirit of close
public-private cooperation to promote
synchronous resources of the State and 6535
enterprises; urgently review and amend
conditions, processes and procedures to create
favorable conditions for enterprises to access
support policies of the State; promote the
implementation of activities to support
businesses in digital transformation.
Secondly, the Ministry of Health urgently
promulgates Guidelines on the roadmap to
return to the new normal state and implement
socio-economic activities to ensure safety in the
prevention and control of the COVID-19
epidemic, creating favorable conditions for
enterprises organize production and business as
soon as possible in the conditions of ensuring
safety for epidemic prevention and control, in
which, it is necessary to have specific
instructions on conditions for organizing safe
production in the new situation so that
localities and enterprises apply in fact.
Third, continue to promote the activities of
the Prime Minister's Special Working Groups on
removing difficulties for businesses and people
affected by the COVID-19 epidemic; review and
remove difficulties and obstacles and promote
the implementation of investment projects in
ministries, branches and localities.
Fourth, the Ministry of Planning and
Investment urgently submits to the
Government for consideration and
promulgation a program for sustainable
economic recovery until 2023, including
solutions to support the recovery of the
business sector.
Fifth, each locality needs to urgently
develop and announce an economic recovery
plan and a plan to open up in the new situation.
At the same time, together with enterprises,
agree on plans and conditions for organizing
production and business safely, adapting to
epidemic developments in the locality and
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Hua Thi Bach Yen / Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era
actual conditions of enterprises; minimize the
closure of the whole factory. Along with that, it
will research and propose solutions to build a
sustainable economic recovery program until
2023, and at the same time strengthen dialogue
between businesses and local authorities.
5.2.2. For businesses in the industry
A group of solutions to help businesses
live with COVID-19
Develop detailed and specific scenarios
that closely follow the reality of each locality to
help businesses adapt and respond to the
COVID-19 epidemic: The province should have a
detailed scenario, corresponding to each
location in order to adapt, response to the
epidemic based on Resolution No. 128/NQ-CP
dated October 11, 2021.
Quickly and effectively implement the
COVID-19 vaccine coverage strategy: Continue
to use all resources to implement the COVID-19
vaccine coverage strategy for people across the
province from 18 to 65 years old to achieve the
goal. At least over 70% of people aged 18 to 65
years old receive the second dose.
There is a mechanism to encourage
enterprises to implement new "safe"
production models during the epidemic:
Encourage enterprises to research and propose
new and effective models in line with the trend
of opening up and recovering. economy,
because only businesses understand best what
is necessary and effective for the development
of the business.
Business support solutions’ group
Support solutions to cut costs, remove
financial difficulties and cash flow: Quickly
implement central support solutions to cut
costs and restructure debt repayment terms. In
addition, consider issuing exemption and
reduction of taxes and fees under the
jurisdiction of the locality.
Labor support solutions: Quickly deploy
support policies for employees affected by the
COVID-19 epidemic. Facilitating procedures for
important foreign workers and experts to work
in the province.
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Focus on developing areas of strengths and
potentials of the province in the new situation:
Promote specific activities to promote domestic
tourism when the province has well controlled
the epidemic, in addition, continue to develop
the agricultural sector. Industry is the strength 6536
of the province, especially high-tech agriculture.
Actively support businesses in digital
transformation: Agencies in the province need
to have specific plans and actions to best
implement the goal of supporting digital
transformation businesses based on Decision
No. 749/QD-TTg dated 3 June 2020 of the Prime
Minister and the plans on digital transformation
issued by the Provincial People's Committees.
Accelerating disbursement of public
investment: Speeding up the settlement of
investment procedures for projects, speeding
up the approval process, adjusting public
investment plans of delayed projects to other
projects. good disbursement progress. Rapid
implementation of public investment projects
will support and stimulate businesses to quickly
return to normal operation.
Group of solutions and recommendations
to improve the business environment
Improving efficiency in cadre work:
Renovating the thinking and awareness of
officials and civil servants about the role of the
private economy and private enterprises .
Change the way cadres are evaluated, focusing
on cadres and leaders who dare to think, dare
to do, dare to take responsibility.
Focusing on reforming a number of areas
of administrative procedures that are still
troublesome: To continue to promote the
creation of a favorable business environment,
reduce costs for businesses , and at the same
time can effectively prevent corruption. causing
troubles for businesses in solving work,
competent state agencies need to focus on a
number of areas where administrative
procedures are still troublesome.
Promoting the efficiency of Public
Administration Centers and speeding up the
application of online administrative procedures:
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Hua Thi Bach Yen / Entrepreneurial capacity of FMCGcompanies in Vietnam’s post-Covid-19 era

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