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Diversified offerings drive mother and childcare growth | Vietnam Today - Video học tiếng Anh

Diversified offerings drive mother and childcare growth | Vietnam Today

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0:00According to Fortune Business Insights,

0:02the baby care products market is

0:05projected to reach 488.43

0:08billion US by 2034. Meanwhile, Vietnam

0:12is forecast to grow 7.2%

0:15annually during the 2023 uh to 2028

0:19period. And yes, Dudy, this growth is

0:22driven by higher value products and

0:24services as businesses compete not only

0:27on price but on trust, parentals insight

0:31and long-term companionship throughout

0:33the pirani journey.

0:37With this machine, I can take the

0:39sterilized bottle from this compartment,

0:42use water, heat it to the right

0:44temperature, add the milk formula, and

0:48use the mixing function to dissolve it

0:50evenly.

0:54By integrating every steps into just one

0:57machine, this business are helping

0:59parents save time, reduce need for

1:02multiple products, and feel more

1:04confident when caring for newborns.

1:08Built around specific postpartum pain

1:10points, this company has developed

1:13products that meet the practical needs

1:15of parents from birth through early

1:18child care.

1:22Real customer needs do not come only

1:24from reports or market research data.

1:27They come from the very practical needs

1:29and experiences of parents in everyday

1:31life.

1:36McKenzie estimates that personalization

1:39and portfolio-based product development

1:41can lift revenue by 5 to 15% and improve

1:45marketing efficiency by 10 to 30%.

1:49According to experts, to compete with

1:51international brands, Vietnamese

1:53businesses need to understand local

1:55consumers or build trust beyond price.

1:58So the real challenge is to build trust,

2:01create one that is authentic and the

2:05community should be treated like the

2:07main product, not just the marketing.

2:10And because a parent who grows up

2:11trusting a brand inside its community

2:14shows a kind of loyalty that no ad

2:17campaign can buy

2:20for businesses is basically that that

2:22they need to compete on trust and in

2:24that way they can also avoid competing

2:26on on price. So basically competing on

2:30things like transparency

2:32um you know what what are the

2:34ingredients in in the product um

2:37building education into their their

2:39brand ecosystem instead of applying a

2:42lot of a lot of discounts.

2:44>> According to the UN world population

2:46prospects Vietnam records around 1.2

2:49million newborns each year and worker

2:52income up 8.5% in the first quarter of

2:552026. This could boost demands for

2:58trusted mother and child care products,

3:00creating opportunities for local brands

3:02to diversify their offerings.