Articles

Vietnam's industry is facing many difficulties during the time when the economy is falling into recession after the Covid 19 pandemic. Not only Vietnam but also the world industry is in a state of crisis. According to CNBC, the World Bank is sharply cutting its 2023 growth forecast and issuing global warnings that it is “very close” to a recession. In addition, global manufacturing sectors have struggled as companies cut capacity amid declining demand.

Looking back at the retail real estate market in 2022, supply in Hanoi grew to 1,070,239 m2 NLA when two new projects, Vincom Mega Mall Smart City and The Zei, increased the area of supply by more than 54,500 m2 NLA. Ho Chi Minh City is also no less competitive when the supply also grows to 1,096,628 m2 NLA when there is a new project, Thiso Mall, increased the area of supply by more than 35,000 m2 NLA.

2022 is the recovery year of retail ice cream products after the decline in total sales in the past few years due to the Covid-19 pandemic. Retail ice cream revenue reached 4.3 trillion VND (7%) in the quarter of 2022. However, the increasing popularity of ice cream is not enough to balance the serious decline in the food service industry. Consumer interest in take-home ice cream products is a strong motivation during the pandemic to motivate ice cream companies to create new and more attractive products.