Fast moving consumer goods (FMCG) sales showed the best improvement in three years in the last quarter of 2016, with 7.3 percent growth against the same period last year, according to the latest Market Pulse quarterly report released by Nielsen on Thursday.
“The build-up and positive sentiment towards the Tet period was one of the key drivers for FMCG growth,” said Nguyen Anh Dung, Nielsen Director of Retail Measurement Services.
Beverages continued to be the key contributor to the total FMCG sales in the last quarter, accounting for 40 percent, followed by food and milk based products, which made up 15 percent each of the total.
After being hit by a year of adverse weather conditions, growth in rural areas experienced a strong bounce-back from October-December with a 7 percent on-year jump, contributing 51 percent to total FMCG sales nationwide.
“Rural areas are still the biggest consumer base and these consumers have increasing incomes that give them higher spending power,” Dung said.
The Market Pulse Report is published quarterly based on the results of a Nielsen Retail Measurement study of FMCG in six cities across the country: Hanoi, Ho Chi Minh City, Hai Phong, Can Tho, Nha Trang and Da Nang.
Fast-moving consumer goods refers to products that are sold quickly and at a relatively low cost.