This activity has helped Masan Consumer stay ahead of new trends to serve the great needs of consumers. This is also one of the key factors helping Masan Consumer continuously grow revenue and profit throughout the first 9 months of 2024.

Outstanding product research and development capabilities

For nearly 30 years, Masan Consumer has continuously developed its Research and Development (R&D) capacity to continuously introduce the highest quality products to consumers. Masan Consumer's R&D human resources are divided into 3 levels: The upper level is domestic and foreign experts with 20 years or more of experience, responsible for developing new technologies and platforms. The second level is the management team with 15 to 20 years of experience in the industry. The third level is young people, well-trained, studying abroad. These are the people who lead new stories and conduct market research.

In addition to the experienced R&D team, understanding consumers is also a catalyst for MCH's superiority over the market. "We are Vietnamese and we understand the Vietnamese taste. Why are Nam Ngu fish sauce products with Ly Son chili and garlic so popular with housewives? Because we know where the chili comes from, Ly Son garlic is the leading garlic ingredient in Vietnam and we use modern technology to perfect the product and satisfy consumers," said a representative of Masan Consumer at the event.

Understanding the language of consumers is also a factor that Masan Consumer considers important in product development. “Our products come from enthusiasm and intelligence, to introduce the best quality products to the market as quickly as possible,” said a representative of Masan Consumer.

Decades of steadfast research into products for housewives

12 years ago, Masan Consumer launched Nam Ngu sweet and sour fish sauce and did not get the expected results. However, the company did not stop there but was determined to create a product that consumers were really waiting for.

“12 years ago, we were not successful because we did not have the technology to keep garlic and chili fresh during the preservation process on the market like today. When customers buy Nam Ngu chili and garlic Ly Son products and pour them out, they can see that it looks exactly like a bowl of dipping sauce mixed by a chef. A bowl of dipping sauce like that can be eaten with many different dishes. That is the story of our perseverance and determination to create products that meet the needs of consumers,” said a representative of Masan Consumer.

This steadfast journey is also continued by the company for other products such as Bupnon Tea 365. Specifically, in 2012, Masan Consumer also produced bottled tea but did not reap success. Up to now, thanks to the application of the most advanced technology and understanding of consumers, Bupnon Tea 365 tea products have begun to reap positive results and are widely accepted by consumers.

7 World's leading advanced technologies create "self-cooking rice" products

The newly launched “self-cooking rice” product of Masan Consumer integrates 7 of the world's leading advanced technologies:

- Technology helps rice grains to be restored within 15 minutes with a normal bottle of water compared to normal rice which takes 30 minutes to cook.

- Preservation technology within 6 months. Masan Consumer has built this technology within 20 years to have delicious salmon and beef steak, keeping the original flavor during the preservation process.

- Vacuum freeze-drying technology helps users just put the dried soup cubes in water to have a delicious bowl of soup.

- Technology of fermenting sour vegetables such as water spinach to eat with rice, creating a flavor that is both Vietnamese and Japanese, giving consumers a new experience.

- Snack technology helps fried anchovies retain their crispness for up to 6 months.

- Technology to make teriyaki sauce to eat with salmon and ponzu sauce for beef stew, keeping the delicious flavor

- Self-boiling technology, like a portable stove that can be carried with you anytime, just add water and in 15 minutes you will have a delicious, simple and safe meal.

In the first 9 months of 2024, 125 new products brought in VND 1,518 billion in revenue, contributing 7% to Masan Consumer's total revenue and growing 47% over the same period last year.

In addition to new innovations, the premiumization strategy also created outstanding growth for some of Masan Consumer's major product lines such as Spices and Convenience Foods. In particular, revenue in the third quarter of 2024 from premium products accounted for 16% of fish sauce revenue and 52% of convenience food revenue, growing by 11.4% and 23.8% respectively compared to the same period last year. Thanks to this premiumization strategy, gross profit margin in the third quarter of 2024 improved by 20% compared to the same period in 2023 despite higher raw material prices and strong growth in revenue from lower margin segments such as Convenience Foods and HPC.

Vinh Phu