Full-Service Restaurants in Vietnam

PROSPECTS

Chained pizza full-service restaurants records outstanding growth

In 2018, chained pizza full-service restaurants recorded the fastest current value growth amongst all types of full-service restaurants. Leading brands such as Pizza Hut and The Pizza Co invested heavily in new outlets.

Korean and Japanese are the most popular international cuisine

Vietnamese customers are highly receptive to Korean and Japanese cuisine. While Japanese cuisine attracts local consumers for its freshness and healthy image, Korean food is popular due to its spicy and indulgent flavours.

Independent players pioneer new concepts

While chained players remain strong in brand building activities and promotions, independent players pioneered new concepts that remained niche. Due to a growing number of tourists and expatriates, and young urban mid-income customers who are willing to experiment, there have been greater opportunities for interesting concepts and new cuisine.

COMPETITIVE LANDSCAPE

Local players continue to lead

The leading three players in full-service restaurants, namely Golden Gate Trade & Services JSC, Redsun ITI, and Mon Hue Restaurant Co Ltd, are all local. In 2018, they continued to gain value share and record high current value growth.

Price promotions attract consumers

Price promotion is a widely used technique to constantly attract customers. For example, GoGi House by Golden Gate runs the Crazy Monday promotion, whereby customers can receive unlimited meat at VND189,000/pax (original price VND239,000/pax), which applies to the first Monday of every month.

International chains enter Vietnam

With high prospects for Vietnamese consumer foodservice, an increasing number of international chains enter the country to gain share. For example, the popular hotpot brand Haidilao entered Vietnam in early 2019 in Bitexco Tower, one of the most premium locations in the central business district of Ho Chi Minh City.

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