Mooncake market is expected to ‘recover’ strongly this year18/08/2022
After two years of posting on due to the pandemic, this year, the mooncake market re-booms thanks to the appearance of breakthrough products.
As a traditional cake for family holidays, mooncake seems to be an indispensable product of Vietnamese culture. However, in the last 5 years, this market has lacked breakthroughs and creativity. In particular, the impact of the two-year pandemic caused the whole market to freeze when the festival was no longer held, and people tightened their wallets.
In 2022, when the situation is better, and the economy gradually recovers. Businesses are therefore excited to operate and expand trading. Consumer spending also prospered, with the total retail sales of goods and services in the first 6 months increased by 11.7%, higher than the same period in the past 5 years; and increased by 14.4% compared to the first 6 months of 2019, the pre-pandemic period.
In this trend, the mooncake market for gifts and tastes is also expected to be as vibrant as before. However, there is an undeniable fact, while the production and trading trend of these items has slowed down in recent years, the consumer’s demand for enjoyment has changed with more elegant taste.
Beside going along with the development of society, consumers are more interested in the taste of cakes – a smooth combination of tradition and modernity. Freshness, variety, safety… become important standards.
Not stopping with high requirements in each product, consumers are also more strict with packaging design, because these cake boxes are also gifts sent to family, friends and partners during the holidays. Business circles in the industry say that these innovation needs from the inside out can be summed up in the word “delicious”.
Faced with market opportunities and new challenges from consumer demand, is a famous brand that everyone’s family mentions every Chinese occasion. In the autumn, this year’s Union New Year is the occasion when the once king of confectionery KIDO officially returns to the mooncake industry with the brand name KIDO’s Bakery. Moon cake will be launched in the market in this year’s mid-autumn season.The re-appearance of KIDO is considered to bring a breath of fresh air to the mooncake market.
“We are back in the industry with a whole new color,” said Nguyen, describing the cakes as having a unique, fresh taste and a fresh feeling when eaten.
Sharing more about his comments when returning to the mooncake market in 2022, Mr. Tran Le Nguyen – Vice Chairman of the Board of Directors and General Director of KIDO Group said: “In the past 5 years, the mooncake market has been the main market following the traditional business model and lack of breakthrough. In addition, in the last 2 years, the Covid-19 pandemic has caused the moon cake market to almost freeze due to social distancing. The mid-autumn festival season is not as focused on organizing as before, causing the Mid-Autumn Festival to gradually lose its inherent meaning.
Back in 2022, after receiving suggestions from shareholders, investors, partners and customers who love the taste of KIDO’s mooncakes, we officially return to the mooncake industry with a new mooncake industry. completely new colors and hope to bring new prosperity to the mooncake industry in Vietnam”.
In addition to the novelty in the sauce, the product packaging will also be meticulously cared for with 3 main color tones: delicate green – luxurious red – trendy orange. “Therefore, we hope to be with customers “Enjoy the taste – Give your love” as a good culture that needs to be preserved”, Mr. Nguyen shared.
“Currently, we have also received a lot of orders from agencies – enterprises, who are close partners who have loved the taste of KIDO’s cakes for many years. And with this comeback, we are setting ourselves the goal of holding the No. 2 position within the next 3 years,” said Mr. Tran Le Nguyen.
Source: Bao Thanh nien