Vietnam News Network

Vietnam News: Local, National, Business, Sport, Entertainment and Technology

Trade XRPUSD, Bitcoin and Cryptocurrencies

BUY & SELL XRPUSD | View XRPUSD News & Updates


Buy Sell XRPUSD, Bitcoin and Cryptocurrencies

Domestically-made cosmetics selling better thanks to inflation   2008-09-10 - SGTT

While cosmetics products are selling more slowly at supermarts and shops as housewives tighten their purse-strings in the high inflation period, domestically-made products have been selling better.

 

Domestic products prove to be safe, while they have reasonable sale prices which prove to fit the pockets of the majority of Vietnamese people.

Some domestic cosmetics producers have reported 20% increases in sales in the last few months.

 

Mai Tan Dung, Sales Director of Lan Hao Cosmetics Company, said that sales of the make-up powder Two Way Cake have increased by five times, while 24 of 70 items of the company have seen sales increase by 30%.

 

Explaining the satisfactory sales, Dung said that famous products from South Korea, Thailand and Taiwan have become more and more expensive, while cheap products still cannot win the confidence of customers. Meanwhile, domestic products prove to be safe, while they have reasonable sale prices which prove to fit the pockets of the majority of Vietnamese people.

 

Analysts also say that cosmetics products with no clear brand names imported from Thailand and China now cannot find buyers; this has also brought an opportunity for domestic producers to sell their products.

 

Huynh Kien Nam, Director of Gia Dinh Cosmetics Company, said that women in rural areas now are also choosing products with good brand names to buy. Nam said that the company’s sales have increased by 30%.

 

However, imports and products made under licences of foreign manufacturers are still dominating the cosmetics market with hundreds of brand names, from luxury items to ones for normal people. Regarding the group of products for hair care, Unilever’s products now hold 47% of the market share, P7G 30%, followed by Singaporean and Chinese trademarks.

 

As for the group of skin-care products, imports and products made under licences of foreign manufacturers are now holding 95% of market shares in big cities like Hanoi and HCM City.

 

Domestic producers well understand that they cannot compete with imports in the segment of luxury items for consumers with medium and high incomes.

 

Lan Hao has stopped selling colour lipstick, Saigon Cosmetics now focuses on selling perfume priced a bit higher than VND100,000/bottle. Some other companies have stopped selling luxury shower cream with sale prices equal to those of imports.

 

According to Luong Van Vinh, Director of My Hao Company, a Vietnamese woman spends $3-4 on cosmetics products a year. The figures are $41.7 in Taiwan, $40.9 in South Korea, $35.7 in Hong Kong, $19.5 in Thailand, and $10 in China.



Other news

Companies cancelling plans to buy treasury stocks   2008-09-10

Five goals of supporting industries development strategy   2008-09-10

BUSINESS IN BRIEF 10/9   2008-09-10

Fiercer competition in banking system kicks-off   2008-09-10

Fiercer competition in banking system kicks-off   2008-09-10

August auto sales lowest in 2008, says industry report   2008-09-10

Imports fixation   2008-09-10

HSBC to establish subsidiary bank in Vietnam   2008-09-09

Increasing banks’ capital: step backwards or march forward?   2008-09-09

Banks pour hundreds billions VND into stocks   2008-09-09

Securities brokerage fee running after VN Index   2008-09-09

Automobile market goes into neutral   2008-09-09

Vietnamese, Guangdong sign projects worth 1.6 billion USD   2008-09-09

BUSINESS IN BRIEF 9/9   2008-09-09