According to the Ministry of Industry and Trade, Vietnam had imported a worth of US$226.9 million of household appliances and spare parts by the end of February, up 20.45 percent compared to the same period last year.
Noticeably, household appliances and spare parts were mainly from Asian countries, of which, Thailand accounted for more than 50 percent of total turnover. This proves the infiltration of Thai enterprises into Vietnamese market via acquisitions and mergers of large retail chains. For instance, Berli Jucker (BJC) bought the Japanese 42-convenience-store FamilyMart and renamed it to B’mart. Earlier, it also purchased the Vietnam cash-and-carry wing of Germany's Metro AG for 655 million euros ($876 million). In early 2015, Central Group bought 49 percent stake in the company which owns Nguyen Kim electronic chains.
Up to now, Thai products are present in nearly 9,000 markets across the country and predominate over products of other countries, especially made-in-Thailand electronic and refrigeration appliances which account for up to 70 percent of market share.
Vietnamese consumers have favored Thai products because they tend to be 10-20 percent more expensive than Vietnamese ones and half as expensive as European ones but are of same level of quality. Meanwhile, most domestically-made products are unfashionable and of uneven quality, hence, they only suit low-income consumers.
