HÀ NỘI — A recent report by Shinhan Securities Company on the food and beverage (F&B) sector said strengthened control and suppression of counterfeit and low-quality goods (in areas such as food, pharmaceuticals, and cosmetics) are helping to enhance the market and competitiveness for Việt Nam’s domestic enterprises.
This process also creates opportunities for local firms to expand their market share, taking advantage of the gaps left by removed products.
Market researchers have long voiced concerns over counterfeit and substandard goods, sold directly to consumers on social platforms. Many were fake and low-quality products that pose significant risks to consumers and undermine trust in entire industries, especially for essential goods such as food, beverages, pharmaceuticals, cosmetics, and daily consumer products.
In addition, the widespread presence of counterfeit products reduces revenues from genuine goods and damages brand reputation, hurting Việt Nam as a national brand. Businesses must pay fees to protect intellectual property rights and bear legal costs when taking action against imitation, while counterfeiters continue to operate freely, creating unfair competition.
Nguyễn Phương Lâm, Head of Market Analysis at YouNet ECI, said GenZ consumers (those born between 1997 and 2012) tend to prioritise shopping via livestreams and are willing to experiment with new products. Up to 70 per cent shop online at least once a week. Orders are typically of low value but made frequently, catering mostly to personal needs.
Lâm noted that Gen Z is emerging as a powerful growth driver, with distinctive shopping habits tied closely to entertainment platforms. This generation visits e-commerce sites not only to shop but also for leisure, product discovery, and to hunt for deep discounts (from 30 per cent and above).
In the F&B sector, a recent survey by Vietnam Report JSC found that 44.2 per cent of consumers said they frequently try new F&B products. Among the channels for discovering new products, social media advertising leads with 79.3 per cent, far surpassing traditional outlets such as trade publications (11 per cent) or brand websites (6.5 per cent). As celebrities, KOLs (key opinion leaders), and influencers are becoming an increasingly important bridge between products and consumers.
However, as Vietnam Report cautioned, this shift in trust also carries risks, particularly as FOMO (the fear of missing out) drives consumers to follow trends impulsively, disregarding quality warnings. Experts warn that when most consumers place their trust in the endorsements of celebrities, KOLs, or influencers, product assessment no longer rests on standards of safety or scientific evidence, but instead shifts to emotion, personal credibility, and the effects of FOMO.
In reality, not all celebrities, KOLs, or influencers have expertise in the F&B field; many simply accept paid promotions. In such cases, each statement or promotional video can become a “double-edged sword”: boosting sales rapidly but also risking backlash if product quality fails to meet expectations.
Experts and industry insiders said businesses need long-term and tailored plans. For example, they should focus on building seamless, uninterrupted shopping experiences, while also preparing strategies to engage Generation Alpha – the next group of consumers whose purchasing behaviour is expected to differ even further. — VNS
