The Vietnamese High-Quality Goods Award will be given to 524 firms this year, it was announced in HCM City on March 9.

The Business Association of High Quality Vietnamese Products selected them from a list of 677 candidates based on offline interviews with customers and sellers in major cities and online interviews with customers nation-wide.

The nominees were then screened by authorised local agencies and relevant industries and checked for transparency of information and compliance with laws before being chosen for the prestigious award.

Of the winners, 32 have claimed the award for 26 consecutive years while 41 are achieving the honour for the first time.

The dry and instant food industry has the highest number of winners, followed by the sauces and spices industry.

Nguyen Van Phuong, the association’s consumer survey expert, said consumers pay attention not only to the basic factors of a product such as perceived quality, durability and price, but also safety, freshness, nutritional information, origin, function, and quality certification, especially in the case of food and beverages.

The survey also found that traditional retail channels still dominate with a 60 per cent market share, though more and more consumers are shifting from traditional markets and small grocery stores to modern retail channels.

Besides, people look online for information about products they want to buy, but buy them at supermarkets and stores.

With the increasing penetration of mobile devices and the internet, e-commerce and online sales are an inevitable trend, Phuong said.

Consumers are increasingly interested in healthy, "clean" and "sustainable" products, and are willing to pay more for traceable, environment-friendly and high-quality products, he added.

Vu Kim Hanh, chairwoman of the association, said the green and circular economies are inevitable amid efforts to conserve natural resources and protect the environment.

Many businesses have invested in recycling waste from production into new products, she said.

By focusing on environment-friendly and sustainable practices, companies could gain a competitive advantage in the market, she added.

Van Thi Thuy Tien, marketing director of Qui Phuc Trading - Service - Production Company Limited, which makes furniture, said her company has done research into turning plastic and steel wastes into products such as corner shelves and flowers.

Kao Sieu Luc, director of ABC Bakery, said his company has increased the use of solar power and biodegradable packaging and bags to help protect the environment despite incurring higher costs on them.

More communication is needed to raise awareness about the circular economy among businesses and consumers, he said.

The awards ceremony will be held at the Reunification Convention Hall in HCM City’s District 1 on March 14. — VNS