A Feast of Innovative Ideas and Fresh Perspectives at Vietnam Food & Beverage Conference 2022

Recently, Flavors Vietnam 2022, the third annual gastronomy festival organized by Vietcetera, with Mastercard as the title sponsor, kicked off a series of exciting events, starting with Vietnam Food & Beverage Conference in Hanoi and Ho Chi Minh City.

This year’s event saw more than 550 attendees, including some of the most creative minds in the local F&B industry, discussing around the challenges facing the industry, as well as insights into trends, digital transformation for seamless dining experiences, safety and security, and the undeniable growing demand for high-quality and high-value products and how F&B players can fulfill them in the most sustainable, innovative ways.

“Rebuilding - and sustaining- community momentum is important to the F&B industry’s revitalization, especially even more so now that the borders are opening soon. We hope the conference plays its part in sparking more conversations between industry leaders”, said Hao Tran, Vietcetera CEO.

Consumer health and wellness

Since the pandemic, people are willing to spend more to keep themselves well. This has given rise to new diet trends, with consumers demanding food packages that promise healthier living — like gluten-free or keto meals and brain-boosting foods.

Locally, industry players can also take advantage of Vietnamese people’s eating habits — love for greens, healthy snacking, and the fact that most Vietnamese prefer eating out in groups.

Beyond personal health, consumers have also grown to become more aware of their surroundings and seek F&B brands they share the same ethics with. This has paved the way for industry players to be more cautious about their environmental footprints, from sourcing their ingredients to packaging the products.

A shift in consumer payment habits

With the pandemic, consumers globally have adopted a digital-first approach in how they live, shop and work, with many adopting cashless habits such as QR codes, mobile phone payments and contactless cards to make everyday transactions in a safer and contact-free manner.

According to Mastercard New Payments Index 2021, 84% of consumers in the Asia-Pacific have seen their access to emerging forms of payments increase in 2020 alone. While 88% used at least one emerging payment type in the last year, two-thirds of all respondents (including 75% of millennials) say they tried new payment methods that they would not have tried were it not for the pandemic. In fact, 60% of consumers polled say they would avoid merchants that do not accept electronic payments of any kind.

“The pandemic has accelerated a shift towards adopting digital-first habits in Vietnam, and these are here to stay for the long-term. As a result, consumers are now expecting more omnichannel and seamless digital experiences when they interact with businesses including F&B. To meet these evolving demands, businesses must always adopt a digital-first approach which puts consumer needs at the core of their businesses. This is imperative to mitigate the impact of the pandemic and stay ahead of the competition”, said Winnie Wong, Country Manager, Vietnam, Cambodia and Laos, Mastercard. “Mastercard continues to remain committed to working with key players in Vietnam’s F&B sector to harness the power of data, bring innovative payments solutions and rewarding experiences that can help the industry recover and become more resilient than ever.”

D.A (Vietnam Business Forum)