Over 40% of F&B firms in Vietnam record lower revenues in H1

By Tri Duc
Tue, September 19, 2023 | 3:06 pm GMT+7

Over 40% of food & beverage (F&B) firms in Vietnam recorded lower revenues in the first six months of this year according to a survey by iPOS.vn, a major provider of restaurant management solutions.

The survey, featuring responses from 137 restaurants mostly in Hanoi and Ho Chi Minh City, showed that only 29.9% of firms recorded higher revenues while the remaining saw unchanged results.

The ratio of lower revenues among large-scale firms with at least 150 seats was worse at 63.6%. Meanwhile small firms with under 50 seats had the highest ratio with higher revenues at 33%.

A restaurant in Ho Chi Minh City with many vacant spots. Photo courtesy of Young People newspaper.

A restaurant in Ho Chi Minh City with many vacant spots. Photo courtesy of Young People newspaper.

Despite challenges, many firms expected strong performances in the next six months, as 63.5% of respondents had maintained their outlets and 26.3% had opened more. Only 5.8% had been forced to close their outlets and 4.4% had to close inefficient branches to open new ones, the surveyed found.

Additionally, 29.2% of firms said they had strong capital to expand their operations, and 51.1% noted their finances could sustain current operations. Meanwhile, less than 20% said they faced financial challenges.

Regarding customers, 47.5% said they spent more on eating out than last year, 32% spent less, and 20.5% were unchanged, the survey showed. Eating out is becoming more and more trendy as 35.5% of respondents opted to eat out 3-4 times weekly, 34% once or twice weekly, and 14% daily.

Previewing the last half of this year, iPOS.vn said the market will bottom out as customers opt for more economical choices. Moreover, 39.4% of firms expected more challenges and 20.4% expected unchanged situations. Meanwhile, 32.5% of customers said they would reduce their spending but 50% replied they would not.

Comments (0)
  • Read More
13th Party Central Committee wraps up 12th plenum

13th Party Central Committee wraps up 12th plenum

The two-day 12th plenary session of the 13th Party Central Committee concluded on July 19 afternoon, fulfilling the agenda set out at the start of the meeting.

Politics - Sat, July 19, 2025 | 5:15 pm GMT+7

Vietnam's property major DIC Corp to offer 150 mln shares to shareholders

Vietnam's property major DIC Corp to offer 150 mln shares to shareholders

Development Investment Construction JSC (DIC Corp), among Vietnam's biggest real etate developers, will offer 150 million shares to shareholders at VND12,000 ($0.46) apiece.

Companies - Sat, July 19, 2025 | 4:38 pm GMT+7

Urgent power transmission project inspected to ensure stable supply for Tan Son Nhat Airport

Urgent power transmission project inspected to ensure stable supply for Tan Son Nhat Airport

A working delegation recently inspected the 220kV Tan Son Nhat-Thuan An transmission line project, which powers the Tan Son Nhat International Airport in Ho Chi Minh City.

Companies - Sat, July 19, 2025 | 4:05 pm GMT+7

Over 86 mln bank accounts in Vietnam to be terminated from September 1

Over 86 mln bank accounts in Vietnam to be terminated from September 1

More than 86 million bank accounts that have not been biometrically authenticated or have been 'frozen' for a long time will be deleted starting September 1 to prevent fraud and cybercrime.

Banking - Sat, July 19, 2025 | 12:02 pm GMT+7

Malaysia boosts investment in green technology, digital transformation

Malaysia boosts investment in green technology, digital transformation

Malaysia is unlocking high-impact investments at the intersection of sustainability and digital transformation, a key priority under the MADANI government’s green growth agenda.

Southeast Asia - Sat, July 19, 2025 | 11:59 am GMT+7

Indonesia expands retail network in Asia to boost exports

Indonesia expands retail network in Asia to boost exports

Indonesia has opened 2,400 retail stores in the Philippines and plans to expand into Malaysia, Bangladesh, and other Asian countries, Indonesian Trade Minister Budi Santoso said on Thursday.

Southeast Asia - Sat, July 19, 2025 | 11:57 am GMT+7

Southeast Asia IPO performance in Jan-June

Southeast Asia IPO performance in Jan-June

The first half of 2025 saw a measured rebound in Southeast Asia’s capital markets, underpinned by stabilizing macroeconomic conditions and renewed momentum in larger IPOs, particularly in Malaysia and Indonesia, write Deloitte analysts.

Consulting - Sat, July 19, 2025 | 11:41 am GMT+7

Vietnam's fund management market must be transparent, sustainable to allure investors: experts

Vietnam's fund management market must be transparent, sustainable to allure investors: experts

To spur the growth of Vietnam’s fund management industry, an open, transparent and fair playing field is needed for all participants, experts said at a seminar hosted by The Investor on Thursday.

Finance - Sat, July 19, 2025 | 9:32 am GMT+7

More data center investment to be poured into Vietnam: Cushman & Wakefield

More data center investment to be poured into Vietnam: Cushman & Wakefield

Vietnam is an ideal destination for data center investment and the country is expected to see further interest from international investors, according to consultancy firm Cushman & Wakefield.

Companies - Sat, July 19, 2025 | 9:00 am GMT+7

Vietnam's Ministry of Science and Technology works with Google to explore digital transformation, AI

Vietnam's Ministry of Science and Technology works with Google to explore digital transformation, AI

The Vietnamese Ministry of Science and Technology (MoST) has been working with Google to explore deeper cooperation in digital transformation, AI, and support for small and medium-sized enterprises (SMEs).

Companies - Sat, July 19, 2025 | 12:01 am GMT+7

Thailand hopes for US tariffs at levels comparable to other regional countries

Thailand hopes for US tariffs at levels comparable to other regional countries

Thai Deputy Prime Minister and Minister of Finance Pichai Chunhavajira on Friday expressed his expectation that the U.S.'s final reciprocal tariff rate imposed on Thailand's exports will align closely with other countries in the region, likely settling at approximately 20%.

Southeast Asia - Fri, July 18, 2025 | 11:53 pm GMT+7

Vietnam's central bank to assess compliance of banks in risk management

Vietnam's central bank to assess compliance of banks in risk management

The State Bank of Vietnam (SBV) will deploy monitoring measures and tools to assess the compliance of commercial banks in implementing requirements related to risk management, especially compliance with Basel III international banking standards, an SBV official said on Wednesday.

Banking - Fri, July 18, 2025 | 11:49 pm GMT+7

Malaysia aims to play key role in implementing ASEAN Power Grid

Malaysia aims to play key role in implementing ASEAN Power Grid

Malaysia is expected to assume a key role in the implementation of the ASEAN Power Grid (APG) starting next year, leveraging its strategic advantages to lead the regional initiative aimed at integrating electricity transmission networks across Southeast Asia.

Southeast Asia - Fri, July 18, 2025 | 11:36 pm GMT+7

Tran Duc Thang assigned to be acting Minister of Agriculture and Environment

Tran Duc Thang assigned to be acting Minister of Agriculture and Environment

Vietnam's Prime Minister Pham Minh Chinh has assigned Tran Duc Thang, a Party Central Committee member and standing Deputy Chief Inspector of the Government, to be acting Minister of Agriculture and Environment, starting from Thursday.

Politics - Fri, July 18, 2025 | 11:28 pm GMT+7

Gasoline vehicle market stalls as consumer sentiment wavers

Gasoline vehicle market stalls as consumer sentiment wavers

While the electric vehicle (EV) market is gaining momentum, dealers of gasoline-powered cars and motorbikes, both new and used, in Hanoi are facing a wave of order cancellations, vehicle returns, and even deposit forfeiting.

Companies - Fri, July 18, 2025 | 7:48 pm GMT+7

E10 fuel rollout marks key step in Vietnam’s green energy transition

E10 fuel rollout marks key step in Vietnam’s green energy transition

From January 1, 2026, all gasoline distributed across Vietnam must contain 10% ethanol, marking a pivotal milestone in the country’s shift toward green energy and its long-term carbon neutrality goals.

Companies - Fri, July 18, 2025 | 7:40 pm GMT+7