F&B Trends Report 2024

Decision Lab F&B Trends Report 2024 is a report by Decision Lab on how Vietnam's food and beverage industry is adapting to ongoing economic shifts, based on a nationwide survey of Vietnamese consumers. Under that pressure, 84% of consumers now set a monthly spending limit for out-of-home eating anddrinking. It gives F&B brands an evidence-based view of evolving consumer habits and preferences, and the strategies that help businesses thrive in a dynamic market. The report is written for F&B brand and marketing leaders responsible for winning consumers in a competitive market

Key highlight points:

• Consumers are spending more cautiously. Diners are increasingly mindful of out-of-home spending, and the discipline is recent - 39% of those whokeep a strict monthly limit adopted the habit only in the past year.
• Dining out is about connection. 47% say a primary reason for eating out is to feel closer to friends and family, while just 16% are drawn to brands offeringunique experiences - shared moments beat novelty.
• Value, quality, and service decide the winners. The three factors that most attract consumers to a brand are high-quality food worth the price (52%), good service (47%), and consistent quality over time (44%) - well ahead of promotions, novelty, or advertising.