Grocery report 2013

WHAT DO VIETNAMESE
GROCERY SHOPPERS
WANT?
2013 AND BEYOND

WHO

WHAT

HOW

VIETNAM
Copyright ©2012 The Nielsen Company. Confidential and proprietary.

STATE OF
THE
MARKET

CONSUMERS

CONCERNS

TOUCH POINTS

• Macro outlook
• Consumer
Confidence Index
• FMCG Overview

• Affordable to
aspirational
• Aging population
• On her mind to in
her cart

• Health and
nutrition
• In-home
enjoyment
• Upgrading for
value continues

• Television
• Online
• Mobile


STATE OF
THE
MARKET

VIETNAM AT A GLANCE

MACROECONOMIC CONDITIONS ARE IMPROVING
MODERATE INFLATION

GROWING EXPORTS

INCREASED RESERVES
International reserves
(in months of import)

17,3%
Monthly Inflation
YOY Inflation

6,5%


1,0%

2,2%

2,7 2,8

in 1H’13 vs. YA

2,2 2,3 2,3
1,9 1,8

6,7%

1,5

1,6

HIGH TECH
0,1%

products increase
Q1-11

Q3-11

Q1-12

Q3-12

Q1-13

CURRENT ACCOUNT SURPLUS 5.9% of GDP
Source: GSO, GSO 2012, Worldbank

4

BUT CHALLENGES EXIST…..
SLUGGISH GDP GROWTH

STRESS ON FISCAL DEFICIT

RISE OF BANKKRUPTCY

Source: IMF – Apr’13

Source: Worldbank

Source: Agency of Business Registration

Vietnam GDP growth (%)

Debt to GDP ratio (%)

6,8

6,3
5,3

5,9

5,0 5,2 5,2

45

43

47

52

48

Number of new
registered enterprise
reduced

6.8%
52

Enterprises registered
capital reduced

16%


Q1’13 vs. Q1’12
2007 2008 2009 2010 2011 2012

Source: GSO

1.96
%

RATE IS ON INCREASE

26%

Number of enterprises
stop business

2.28
%

1H’12

UNEMPLOYMENT

1H’13

5

GROWTH OUTLOOK IS MODEST FOR VIETNAM


Asia pacific is expected to be fast growing region, yet Vietnam is at lower pace.

Source: IMF – Apr’13
Note: Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period of6
time.

THE ECONOMY AND JOB SECURITY ARE KEEPING
CONSUMERS AWAKE AT NIGHT
Vietnamese are less confident in the region
Consumer Confidence Index
Q2'2013

19

Job security

19

14

51

KO

75
78

TW
JP

93
95
95
98
103
107
110
114
118
121
124

NZ
SG
VN
AU
MY

The economy

HK
CN
TH
IN
PH
ID
0

50

Base : All respondents n=10024
Consumer Confidence Survey – Q2 – 2013

100

150

7

Increasing utility bills (electricity, gas,
heating, etc)

11

12

Health

11

12

Increasing food prices

8

11

9

8

Work/life balance
Increasing fuel prices

5

%

9

Parents' welfare and happiness 2 6
Debt

Biggest concern

33

Q. What is your major concern
over the next 6 months

Second biggest concern
Field Dates: May 13 to May 31, 2013

7

CONSUMERS SHOW SPENDING RESTRAINT
“Putting spare cash into savings” means consumers are spending less
Consumer Spending & Saving strategies – Q2’13

SPENDING STRATEGIES
Putting into savings

66

68

Holidays / vacations
New clothes
New technology…

32
28

%

36

33

Q2 2012
Q2 2013

29

32


Q: How to utilize spare cash after covering essential living expenses

SAVING STRATEGIES
Cut down on out-of-home
entertainment
Spend less on new clothes
Try to save on gas and
electricity
Base : All respondents who answered Yes to Q10 (Code 1) n=440
Source: Nielsen Consumer Confidence Index – Q2’13

67
65

%

63

Q: Compared to this time last year, which of the following actions have you taken in order to save on
household expenses?

8

FMCG IS SLOWING DOWN
Fast Moving Consumer Goods market dynamics – Total Vietnam
30%

27,6%
26,8%
25,0%

27,2%

20%
5,5%
15,8%

15%

22,9%

22,3%
21,1%

20,1%

19,4%

24,4%

24,2%

23,8%

25%

15,6%

11,3%

21,2%
20,5%
19,9%
18,7%
18,3%
16,0%
12,2%
16,8%
16,2%
9,5%
5,8% 4,4% 6,5%
20,4%
14,0%
5,9%
11,2%
15,5%
18,6%
13,9%
15,6%
14,0%
10,2%
20,5%

20,3%


10%
12,8%

12,8%

5%

8,1%
8,0%

11,0%

14,6% 15,5% 14,7%

14,6%
8,7%

12,9%

11,2%

9,9%
6,1%

5,4%

10,0%

6,6% 7,4%
4,7%

8,4%

7,2%

5,8%

4,3%

3,0%

3,0%

0%

Unit value change
Source: Retail Audit Data

Volume change

Nominal growth
9


ACROSS SUPER-CATEGORIES

Source: Retail Audit Data
10


WHO

SHOPPERS MATTER

DO YOU KNOW THE ASIAN CONSUMER?

1
WE ARE THE MOST LABELCONSCIOUS REGION IN THE
WORLD.

2
THREE IN FIVE ARE WILLING TO
PAY MORE FOR DESIGNER
PRODUCTS. CHINA, INDIA AND
VIETNAM ARE THE WORLD’S
TOP THREE LOVERS OF ALL
THINGS ‘DESIGNER’.

3
WE ARE A REGION OF IMPULSE
SHOPPERS AND EARLY
ADOPTERS. CHINA, INDIA
AND INDONESIA RANK HIGHEST
GLOBALLY.

4
WE ‘KNOW BEFORE WE GO’ VIA
RESEARCH AND PRICE
COMPARISONS AND ARE
SENSITIVE TO DEALS.

6

PHILIPPINES AND VIETNAM ARE
LURED BY PRODUCTS WITH
FREE GIFTS.


5

WE ARE KEEN TO “GO
GREEN”. THAILAND, INDONESIA,
VIETNAM AND THE PHILIPPINES
ARE THE REGION’S MOST ECOMINDED AND WILLING TO PAY.

7

8

9

10

WE VALUE FAMILY BONDING,
FAMILY PLANNING AND
EDUCATION.

WHEN BUYING MOBILE
PHONES, FUNCTION PREVAILS
OVER PRICE AND BRAND.

FOR CLOTHING AND SHOES,
DESIGN WINS OVER PRICE OR
BRAND, PARTICULARLY
FOR THAIS, TAIWANESE AND
VIETNAMESE.

WHEN BUYING HEALTH AND
BEAUTY PRODUCTS, WE OPT
FOR FUNCTION OVER QUALITY
AND PRICE.

Source: Nielsen Global Report

12

DO YOU KNOW WHERE YOUR “SHOPPORTUNITIES” ARE?
AFFORDABLE TO ASPIRATIONAL
Rising middle class
Rising aspirations

AGING POPULATION


Current: 64% under 35 years old
65 years old population estimated to grow
4 times by 2050

ON HER MIND TO HER CART
Women role becomes more important
Quality of living is improved
13

MEET THE EMERGING MIDDLE CLASS
Vietnam is set to see an enormous rise in its middle class consumer segment and
spending => sophisticated demand to improve quality of living
Class A+

2
4
6

Middle class

9

27
32
38

Class C

39
34

Class D

8

14
21

Class B

million
in 2012

Class E
8

Class F
2010

95

million in
2020

million in
2030

$310

$940

billion in
2020

billion in
2030

Consumption

25
20
14

44

$46
billion in
2012

3
2
2
2011

2012

Source: HIB – Nielsen database; OECD Development Centre

14

‘PREMIUM’ SHOWING STRONG GROWTH


Dominated by middle class need for ‘Affordable Premium’

Source: Nielsen Retail Audit April 2011 – Mar 2012

15

‘PREMIUM’ SHOWING STRONG GROWTH
Dominated by middle class need for ‘Affordable Premium’

MAINSTREAM

24
PREMIUM

VALUE
GROWTH RATE


14 FMCG CATEGORIES
10 ASEAN COUNTRIES

21
VALUE

Source: Nielsen Retail Audit April 2011 – Mar 2012

35

SUPER
(PI: >3)

ASIA’S
DECOMPOSITION
OF ‘PREMIUM’ 49.51%
LOW
(PI: 1.2-1.5)

9.17%
HIGH
(PI: 1.8-3)

20.34%
MID
(PI: 1.5-1.8)

20.98%

16

TOP PREMIUM PICKS ARE BISCUITS, FACE
MOISTURIZER, INSTANT MILK FORMULA, DETERGENT


Inside Asia’s Premium Basket

Source: Nielsen Retail Audit April 2011 – Mar 2012; Hong Kong, Korea, Singapore, China, Indonesia, India, Malaysia, Philippines, Thailand, Vietnam

17

WHAT DO THE MIDDLE CLASS NEED IN STORE?
Checklist

To…
HELP CALCULATE

PACKAGING

CUE DESIRED IMAGE

DIFFERENTIATED ASSORTMENT

OFFER AN OPPORTUNITY TO TRY PREMIUM

TRIAL PROGRAMES

PRICE TAGS

ENCOURAGE USAGE

FRIENDLY SERVICE

TRY OUT NEW CATEGORIES AND BRANDS

AIR-CONDITIONING

ENJOY MODERN RETAIL ENVIRONMENT

Source: Nielsen Bag or Byte Report

18

“GOLDEN POPULATION STRUCTURE”
Capitalise on the window of opportunity
85+
80-84

•

18 MILLION: the young demographic
of 15-24 years old

•

The future potentiality of the country

•

Improve the quality of the country’s
human capital

MALE

75-79

FEMALE

70-74
65-69
60-64
55-59
50-54
45-49
40-44


35-39
30-34
25-29
20-24
15-19
10-14
5-9

Million

0-4
Source: Vietnam population 2012

0

1

2

3

4

5

19

AGING CONSUMERS
Demanding for new and specialized categories

> 65 YEARS OLD AGING INDEX (*)

MEDIAN AGE

2014

90.6 mil

29.8 y.o

5.6 mil

39.9 %

2024

99.5 mil

33.9 y.o

8.6 mil

61.1 %

2034

POPULATION

105 mil

38 y.o

13.5 mil

96.7 %

2044

108 mil

39.9 y.o

17.5 mil

128.1 %

2049

108.7 mil

40.5 y.o

19.5 mil

140.8 %

Source: Ministry of Planning and Investment General Statistic Office based on Vietnam census
(*) number of people aged 65 over per 100 youths under age 15

20

GROWTH IMPACT TO YOUR BRAND AND BUSINESS
NOW


TEEN &
YOUNG ADULT

•
•
•
•
•

Soft Drink
Energy Drink
Snack
Toys and Games
Education Services

FUTURE
SENIOR
PEOPLE

PRODUCT FOR
ADULT

•
•
•
•
•
•
•

Adult Milk
Adult Diapers
Sensitive Toothpaste
Nutritional Supplements
Diabetic Foods/ Drinks
Medical Insurance
Leisure Travel
21

HELP AGING CONSUMERS THROUGHOUT THEIR
SHOPPING JOURNEY
Lighter aluminum
shopping carts

Lowered shelves

Slower escalators

Enlarged
price tags

Widened aisles


Better lighting
Dedicated
payment lanes
Magnifying
glass on
shelves


WHEN IT COMES TO SPENDING DECISIONS,
WOMEN ARE IN CONTROL
90% of women believe
90 NUMBER OF WORKING WOMEN IS ON THE RISE
85

81,8

82,8
80,3

80

83,3

83,0

83,5

79,5
77,0

75
67,8

70

65,5
63,3

65
60

60,5

58,5

58,3
56,0

Across 95% of countries,
quality is the #1 driver of
brand loyalty.

50
Q2
2011

When it comes to life’s
decisions, women want
to share responsibility.

63,3

55

their role is changing for
the better.

Q3
0211

Q4
2011

Q1
2012

MALE

Q2
2012

Q3
2012

Q4
2012

Q1
2013

FEMALE

Social media has
VIETNAM

Source: Personal Finance Monitor Q1 2013, Nielsen Women of Tomorrow Study 2011

become an indispensable
tool.
23

WOMEN ARE THE SAME, YET DIFFERENT
Opportunity to win not just her wallet but mind and heart

Most impulsive

UNCERTAIN
MOTHERS
AV. AGE = 47

More shopping ahead

AV. AGE = 30

OPTIMISTIC
MOTHERS
AV. AGE = 47

DAUGHTERS

Good value conscious

GRANDMOTHERS
AV. AGE = 67

Most habitual shopper

• Store decisions are important • Usually plans her shopping list
• While she checks prices, quality of products drives loyalty


Heavier media user

Enjoys ads

Heavy on texting/email

WOM important

She watches TV and listens to the radio on a regular basis

CONNECT

Source: Nielsen Women of Tomorrow Study 2011

• need to stay connected • information seekers • aspirational • optimistic
• holds multiple roles • burdened • empowered

24

FOCUS ON MEETING WOMEN’S NEEDS


•
•
•
•

Au Co Accounts/ Deposits
Ladies First Credit Card
Women SME Service Package
8th March Branch – Women Banking

• Designed specifically for modern women
• Calcium volume is 4 times natural milk
• Spa, facial treatment
• Yoga, Pilates, Aerobic, Zumba, Sexy
dance, Boxing, K-POP
• Exclusively for women with 6 branches
nationwide
25


WHAT

CONCERNS MATTER


WHAT ARE THEIR CONCERNS?

Health & Nutrition

In-home Enjoyment

Upgrading for
value continues

27

HEALTH IS AMONG CONSUMERS’ TOP CONCERNS
Consumers’ biggest concerns – Q2’13

Total health spending per capita – USD
200
180

19%

Economy

160
140

Indonesia
120

Myanmar

100


19%

Job Security

Philippines

80

Thailand

60

Vietnam

40
20

11%

Health

0
1995 1997 1999 2001 2003 2005 2007 2009

Source: Nielsen Consumer Confidence Report Q2-2013

Source: World Health Organization

28

NUTRITIONAL BALANCE IS CONSIDERED ESSENTIAL
FOR GOOD HEALTH

78%

Eat fresh/ natural food

47%

Physical exercise

Eat/ drink in moderation

46%

Consider the meal’s nutrition

41%

Keep mind relaxed

35%

Q20. Current and plan-to-do solutions (All respondents n=700)

29

DAIRY & JUICES ARE REGULARLY CONSUMED
Future opportunity for more advanced nutritional products
TOP ‘HEALTHY’ FOOD CONSUMED REGULARLY

VOLUME GROWTH – MAT JUN’13 VS. YA
DRINKING
YOGHURT
+27%

FRUIT JUICES 46%
SOY MILK 44%

LIQUID MILK
+22%


BEANS/ PEANUTS 37%
CHOLESTEROL-REDUCED COOKING OIL 35%
LIQUID MILK 31%

SOYA MILK
+17%

YOGURT 18%
Source:

Nielsen Global Survey of Food Labeling Trends Jan’12
Nielsen Retail Audit data

30

COMMUNICATING SUFFICIENT NUTRITIONAL
INGREDIENTS TO ACHIEVE BRAND SALIENCE…
Key factors considered when purchasing healthy/ nutritional food (%)
8
8
36
23

Affordable
Approved by health
professionals

25

Sufficient nutritional
ingredients
Reduced risk of disease

“

I always buy products from popular brands and
having nice packaging, with health certification

“

My criteria: sufficient nutritional ingredients
(changing dishes everyday to ensure enough nutrition
for family)

(Youth, HN)

Source:

(Mum with children, HCM/HN)

”

Q23. Key factors considered when purchasing healthy/ nutritional food (All respondents n=700)
Nielsen H&N Qualitative Study Q1’13

”

31

NUTRITIONAL FACT LABELS: HOW TO ENSURE
PRODUCT QUALITY?
How often do you read it?

Nutrition
Facts Label

64%
Always/ Most of the time
How much do you understand?


67%
All/ Most
Do you believe it?

52%

27%

25%

68%

INDIA

THAILAND

CHINA

All/ Most

Q29/ 30/ 31. Packaging of products: Nutrition in formation/ supplement facts (All respondents n=700)

Source: Nielsen Global Survey of Food Labeling Trends Jan’12

32

OUT-OF HOME ENTERTAINMENT IS ON THE TOP OF
THE LIST OF SPENDING CUTS
67

Cut down on out-of-home entertainment

65

Spend less on new clothes

63

Try to save on gas and electricity

49

Delay upgrading technology, eg. PC, Mobile etc

46

Cut out annual vacation
Delay the replacement of major household items

44

Cut down on telephone expenses

44
41

Cut down on take-away meals

29

Cut down on holidays/short breaks

22

Use my car less often

%

21

Switch to cheaper grocery brands

19

Cut down on or buy cheaper brands of alcohol

18

Cut down on smoking

15

Cut down on at-home entertainment

11

Look for better deals on home loans, insurance, credit…
I have taken other actions not listed above
Source: Nielsen Global CCI Report Q2-2013

1

33

FROM OUT-OF-HOME TO IN-HOME ENTERTAINMENT
BEVERAGE CHANNELS

BEVERAGE PACKAGE

ON PREMISE
+8%


OFF PREMISE
+18%

PLASTIC BOTTLE
MULTI SERVE

12% share, +24%

AT HOME ENJOYMENT IS INCREASING!!

Source: Nielsen Retail Audit Data Sep 13

34

MORE COMMUNICATION ON IN-HOME ENJOYMENT
Rejoice: Bring spa to home


Maggi: Thơm ngon sáng bóng như nhà hàng

35

MORE VALUES IN 1 PRODUCT
Yoghurt with collagen

Beverage with Vitamins

Nutritional Beverage


Foundation + Moisturizer

36

UPGRADING TO PREMIUM CONTINUES
Volume % share of premium segment (Ave price index >120)
50,0
45,0

MAT LY

MAT TY

40,0
35,0
30,0
25,0
20,0


15,0
10,0
5,0
0,0

Source: Nielsen Retail Audit Data Sep 13

37


HOW
TOUCH POINTS
MATTER


HOW DO WE REACH THEM?

TELEVISION

ONLINE

MOBILE

Most effective channel
influencing consumers’
decision

Widely spreads in Asia
as well as in Vietnam

Embracing as new
channel

39

ADVERTISING CONTINUES TO INFLUENCE DECISIONS
COMMERCIALS WILL INCREASE MY BRAND PREFERENCE

SEEN ADVERTISING ON MEDIA CHANNELS

% of respondents who strongly/ somewhat agree

74

News/ Magazine

49

Advertising at bus station

38

LCD screen at building, office

15

Bus LCD screen

14

LCD screen at coffee shop

MOST POPULAR CHANNELS

96

Outdoor advertising


Television

11

FREQUENCY
Everyday

More than once a day

58%

36%

Source: Nielsen Global Survey of Consumer Shopping Behaviour Q3 2012;
Nielsen Personal Finance Monitor Q1 2013; Omnibus 2012

67%
33%

31%

40

‘DIGITAL’ IS WIDELY PERVASIVE IN VIETNAM
Vietnam
Malaysia

No. of cellphones (per 100 people)

Thailand
Indonesia

SMARTPHONE USAGE

2011
2012

18%
30%

Philippines

INTERNET USAGE
3G


1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011

MULTI SCREENS DISPLAY
Connected with: Phone + TV+
Internet (46% smartphone
users and 43% Ipad users also
use them when watching TV)
Faster Information. Better
Entertainment

ONLINE ADVERTISING
Time on internet: > 16h/week
Viral Marketing is engaging with
consumers and make them talk…
about your brands… for free!
Build brand acceptability

Source: Nielsen Smartphone Insights 2012; Nielsen Omnibus May 2013; Nielsen Business Barometer 2012

66% accessed
internet in P6M

INVESTMENT IN INTERNET
An increasing investment
towards internet … 16% in
2012 vs. 5% in 2011

41

ONLINE PURCHASING IS NOT COMMON YET, BUT
ONLINE BEHAVIORS PROMISES POTENTIALITY
Conduct research online (for example,
checked price, read a consumer review,)

51

72
70

Look up product information online

36

42

44

Read a grocery retailer's circular/flyer
online

59

37

59

35

15

45

Compare prices for a grocery product
online

50

Browse a manufacturer's website for a
grocery category

53

Look for deals online

14

49

Look for coupons from an online coupon
site

48

Purchase a product online

47

30

15

44

44

19

26

40

49

16

36

37
Daily

Source: Nielsen Global Digital Shopping Report Q12012

18

15

44
Weekly

Monthly

Thinking about Household Grocery Shopping, which of the following
activities have you done in the last month on Any Online Connected
Device?
42

PURCHASE INTENT REMAINS DIVERSIFIED ACROSS
CONNECTED DEVICES
47%

Household Appliance

47%

Mobile Phone (Included accessory)

43%

Food & Beverage

Apparel / Accessory / Shoes / Jewelry

39%

Travel Service Reservation

36%

Entertainment Tickets

36%

What categories of products do you plan to purchase on Any Connected
Device in the next 3 to 6 months?
Source: Nielsen Global Digital Shopping Report Q12012

43

RETAILERS REJOICE AS STORE HOURS NO LONGER
DICTATE SHOPPING HOURS
FUTURE

Which store are you hitting?


NOW

Which website, app?

From consumer to shopper when
you enter the store

Cash or credit?

What did the online review say?

Paypal, credit, e-wallet?
44


THE ASIAN MOBILE CONSUMER
MALAYSIANS ARE THE
HEAVIEST USERS OF

MOST OF VIETNAMESE
BUY THEIR MOBILE
PHONES FROM

79%

SOCIAL MEDIA &
WEB BROWSING
ON THEIR PHONES

VIETNAMESE WATCH

MOBILE VIDEOS
USING AN APP

4 OUT OF 10
INDONESIANS BUY THEIR
PHONES ONLINE

$$

MALAYSIA AND
SINGAPORE ARE

BIG ON APPS

7 OUT OF 10

1 OF 3
IN MALAYSIA
AND SINGAPORE

7 OUT OF 10
SINGAPOREANS RECEIVE
MOBILE ADS AT LEAST
ONCE A DAY

MAJORITY IN SINGAPORE,
MALAYSIA AND VIETNAM

BROWSE
THE WEB
ON THEIR MOBILE PHONES

MALAYSIAN BUY MOBILE
DEVICES THAT OFFER

SINGAPOREANS ACCESS
THEIR EMAILS ON THEIR
MOBILE DEVICES

CONSUMERS IN VIETNAM
SELECT MOBILE DEVICES
THAT GIVE THEM

GOOD VALUE
FOR MONEY

MORE STREAM ONLINE MUSIC
THAN SHOP ON THEIR
MOBILE PHONES SHOPPING
HAS ROOM TO GROW ACROSS

ALL SEA
COUNTRIES

MAJOR
ELECTRONIC
STORES

BANK ON THEIR PHONES

1 of 3
IN VIETNAM, INDONESIA
AND THE PHILIPPINES
NEVER LOOK AT

MOBILE ADS
EASE OF USE &
RELIABILITY

WIDE CHOICE OF

APPLICATIONS
INDONESIAN
CONSUMERS GO FOR

INNOVATIVE
FEATURES &
STYLISH DESIGNS
MAJORITY IN INDONESIA,
VIETNAM AND
THE PHILIPPINES PREFER

PRE-PAID SERVICE
ARE IMPORTANT TO
CONSUMERS IN
THE PHILLIPINES

TO

FIXED CONTRACTS
45

MOBILE SHOPPING IS FAST-SHAPING RETAIL ASIA

83

%

mobile
penetration in
Asia


SHOP

SHARE

SEARCH
Source of support
before and during
shopping trip
Source: Nielsen Research

46

MANUFACTURERS AND RETAILERS ARE EMBRACING
MOBILE AS A NEW CHANNEL
ENGAGE
WITH CONSUMERS


ENHANCE
SHOPPING
EXPERIENCE

DRIVE
INCREMENTAL
SALES


7-ELEVEN has begun testing
NFC enabled kiosks at the store
entrance, so that users can
download coupons before
shopping.

TESCO catalogue accessed by
Smartphone users via QR code
scans.

STARBUCKS has made a highprofile decision to push the new
mobile payments firm Square

47

MOBILE TECH BRINGS BIG RETAIL BRANDS TO
RURAL INDIA


1. Sales staff visits shop
owner

2. Presents Product
Range

3. Takes order and
messages via mobile app

4. Orders sent as
mobile phone
messages appear in a
central server

5. Orders are lodged by
rural retail customers

6. Consignments are
packed into a small
goods truck and driven
to village stores


48

A FINAL THOUGHT


WHO

WHAT

- MIDDLE CLASS
- AGING POPULATION
- ROLE OF WOMEN

- HEALTH & NUTRITION
- AT-HOME ENJOYMENT
- MORE IN ONE

HOW
- TELEVISION
- INTERNET
- PHONE

GROWTH

Grocery report 2013

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