According to information from Con Cung, by the end of the first quarter of 2023, Con Cung is the brand leading the growth of the milk diaper industry in the retail distribution channel of mothers and babies, with an "overwhelming" market share of up to 62.3 % (according to NielsenIQ data).
For each category alone, Con Cung's market share is dominant with powdered milk accounting for 56.8% of the market share, ready-to-drink milk powder accounting for 78.8%, and diapers accounting for 71.4%.
Con Cung – A bright spot in the context of the slow growth of the retail industry
According to data from Con Cung, the company's average revenue of diapers and milk in the first quarter of 2023 recorded a growth of 18.6% over the same period last year. From a product perspective, powdered milk grew 13%, diapers grew 34%, and liquid milk products grew 71.4%. And especially, the group of functional foods rose to become a prominent new category with an increase of 63.1%.
It can be said that this growth rate of Con Cung is like a reversal in the context of the whole market, the infant formula industry group decreased by 22.1% and the diaper industry decreased by 7.9% compared to that of the whole market. same period last year – according to NielsenIQ data.
It is known that since the Covid pandemic, in response to the increased demand for healthy functional foods of the people, Con Cung has promoted the distribution of these products besides the traditional mother and baby products. Up to now, Con Cung is the leading mother and baby retail chain in Vietnam with more than 700 stores, serving 9 million Vietnamese families nationwide.
Data from the General Statistics Office in the first 5 months of 2023 showed that total retail sales of consumer goods and services increased by 12.6% over the same period last year (in the same period in 2022, it increased by 9.3%). If excluding the price factor, it will only increase by 8.3% (in the same period in 2022, it will increase by 6%).
What makes up the 62.3% market share of Con Cung?
Con Cung's competitive advantage is its extensive distribution system and thanks to that, goods can be delivered at a very fast speed within just 1 hour in major provinces and cities to nursing mothers. In particular, Con Cung has been promoting strategic changes such as constantly innovating layouts and expanding product categories, categories...
If Con Cung stores with an area of 100-200m2 are now a rich and full shopping space for mothers and children, Super Store and Super Center stores have an area of up to 400-1,000. m2 is upgraded to become a mother and baby "world".
Still a "one-stop shop" model, this is a place to introduce and distribute a full range of products for mothers and babies from popular to super-premium lines; including nutritional products, vitamins, skin care and protection for babies, cribs, strollers, motor vehicles, fashion, bookstores, toys... for children from 0 to 6 years old. In addition to having a full range of top genuine imported utensils and foods, this place also has a play and entertainment area for children with dedicated, friendly, and professional service...
In 2022, Con Cung opened the first Super Center in Ho Chi Minh City with an area of up to 1,000m2, bringing a very separate experience and feeling for pregnant mothers and babies. Following the success of the Super Center in Ho Chi Minh City, Con Cung has replicated this model in major cities and provinces such as Da Nang, Vinh Long, Can Tho, Da Lat, Tra Vinh...
According to the plan, to improve the shopping experience of parents, shortly Con Cung will open 2 more Super Stores in Ho Chi Minh City (expected on June 17, 2023) and Ca Mau (expected to be on June 17, 2023) on July 1, 2023).
Talking about this new model, the representative shared: "Young customers in Vietnam are increasingly demanding in terms of quality as well as quantity of products and services. These young parents also always strive to bring what's best for their children and prioritize their children's consumption, especially nutrition, and health. The birth of Con Cung is to meet these inevitable needs of customers. row".
In the context of consumers tightening their spending, Con Cung decided to "sacrifice" profits to launch programs up to tens of billions of dong.
It is known that in June, this unit implemented the program "Sea of gifts of 60 billion", customers who come to buy goods will win. According to business leaders, with the customer-centric philosophy, Con Cung's activities so far have been aimed at accompanying customers so that Vietnamese families can have the most convenient life.
According to the plan, to improve the shopping experience of parents, shortly Con Cung will open 2 more Super Stores in Ho Chi Minh City (expected on June 17, 2023) and Ca Mau (expected to be on June 17, 2023) on July 1, 2023).
Talking about this new model, the representative shared: "Young customers in Vietnam are increasingly demanding in terms of quality as well as quantity of products and services. These young parents also always strive to bring what's best for their children and prioritize their children's consumption, especially nutrition, and health. The birth of Con Cung is to meet these inevitable needs of customers. row".
In the context of consumers tightening their spending, Con Cung decided to "sacrifice" profits to launch programs up to tens of billions of dong.
It is known that in June, this unit implemented the program "Sea of gifts of 60 billion", customers who come to buy goods will win. According to business leaders, with the customer-centric philosophy, Con Cung's activities so far have been aimed at accompanying customers so that Vietnamese families can have the most convenient life.
(Nhip song thi truong)
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