graduation thesis australia market entry strategy of huu nghi food joint stock company

.BANKING ACADEMY OF VIETNAMFACULTY OF INTERNATIONAL BUSINESS GRADUATION THESISTOPIC:AUSTRALIA MARKET ENTRY STRATEGY OF HUU NGHI FOOD JOINT STOCK COMPANY... BANKING ACADEMY OF VIETNAMFACU

.BANKING ACADEMY OF VIETNAMFACULTY OF INTERNATIONAL BUSINESS

GRADUATION THESISTOPIC:

AUSTRALIA MARKET ENTRY STRATEGY OF HUU NGHI FOOD JOINT STOCK COMPANY

BANKING ACADEMY OF VIETNAMFACULTY OF INTERNATIONAL BUSINESS

GRADUATION THESISTOPIC:

AUSTRALIA MARKET ENTRY STRATEGY OF HUU NGHI FOOD JOINT STOCK COMPANY

This graduation research would be impossible without the support of many people.To begin with, I would like to express my deep sense of gratitude to my instructor –Dr Nguyen Thi Thanh Tan, due to her detailed guidance and encouragement, whichhave contributed immensely to the evolution of the research Despite her busyschedule, she spent time giving me valuable ideas to fulfill this project Herknowledge, experience and suggestions have directed me to take the most suitabledecisions to make this thesis reliable and focus on the most substantial elements.Secondly, my special thanks go to Huu Nghi Food Joint Stock Company’s Board ofDirectors and my colleagues in Export Business Department for their support duringmy internship and the collecting data They have supported me with valuableinformation and opinions that were very interesting and significant to answer mythesis purpose which gave me a good ground to build my research.

Thirdly, I also take this opportunity to thank all my lecturers of InternationalBusiness Faculty for assisting me over the last four years of studying at BankingAcademy.

Last but not least, I am grateful to my parents and friends, who helped andencouraged me a lot in finalizing this project within the limited time frame.

I declare that this graduation thesis is my own research, under the guidance of Dr.Nguyen Thi Thanh Tan The contents and results in this research are accurate andhave never been published in any study works before The references are properlycited as prescribed in the reference section.

Hanoi, 23 May 2022rd

Bui Ngoc Kim Oanh

CHAPTER 1: AN OVERVIEW OF MARKET ENTRY STRATEGY 1

1.1 Market entry strategy theories 1

1.2 Market entry modes 3

1.2.1 Direct export 4

1.2.2 Indirect Export 5

1.2.3 Strategic Alliences 7

1.2.4 Joint Ventures 8

1.3 Entry market strategy decision making process 9

1.4 Factors affecting the entry mode decision 11

2.1 General business activities 17

2.2 Entry market strategy into Myanmar 21

2.3 Entry market strategy into China 23

LIST OF ABBREVIATIONS

R&D Research & Development

LIST OF TABLE & FIGURE

Table 1: Entry modes categories 4

Table 2: HNF’s financial operation 2020-2021 18

Figure 1: General Framework for Global Strategy (Hutt&Speh, 2010 p.200) 2

Figure 2: Annual revenue and profit of HNF from 2018 to 2021 17

Figure 3: Sales volume of HNF in Myanmar 2016-2021 22

Figure 4: Number of the retail outlet of HNF in China 25

Figure 5: Sales revenue of HNF in China from 2017 to 2021 26

Figure 6: Confectionery Revenue in Australia 2018-2021 32

Figure 7: Confectionery avarage revenue per capita in Australia 2018-2021 33

Figure 8: Revenue growth of confectionery market in Australia 2018-2021 35

As a result of economic globalization, today's market environment is gettingincreasingly complex; with foreign trade, financial transfers, and foreign directinvestments, the economy is becoming increasingly interconnected Thecombination of advances in communication and transportation technology withfree-market ideology has resulted in unprecedented product and service mobility.Global companies are focusing on opening global markets to their goods these days,particularly in the emerging markets, in order to capitalize on these markets'prospects and become a part of their rapidly expanding infrastructure

The significance of the ruling on foreign market entry mode has been thoroughlyestablished (Tallman and Shenkar, 1994) The manner of entrance chosen has asignificant impact on the level of control the corporations have over the endeavor(Root, 1994) Some entrance modalities, such as exporting and licensing, areassociated with low levels of operational and marketing control, but they are alsoassociated with reduced levels of risk Other entrance modes, such as jointpartnerships and complete ownership of facilities, offer more control but also morerisk.

To enter foreign markets, international companies must consider a number offactors while developing a strategic plan for reaching new consumers anddistinguish their goods and services from domestic and international industry rivalswithin the chosen market

In Vietnam, HNF has a strong brand in the production - commerce industry Interms of market size (distributor, distribution region, product range, output scale,number of strong brands), it is one of Vietnam's three largest corporations.TheVietnamese confectionery industry's growth has been flat, and the domestic marketshare has been clearly divided, with Kinh Do leading the pack, followed by HuuNghi, Pham Nguyen, and Hai Ha brands The domestic market's limited expansionspace necessitates the search for additional business spaces and growth prospectsfor those looking to expand This is not only a difficulty for Huu Nghi, but also for

its high average yearly growth rate After success in other Asian countries, HNF’sforeign business segment is expanding slower Therefore, reaching a new market isa way to keep the business growing Australia is a new and potential market, whichhas Australia is a prospective market due to its high average yearly growth rate andthe variety of consumers HNF's entry into the Australian market will pave the wayfor it to expand into other nations outside of Asia As a result, it is vital to expandbusiness into the Australian market, and in order to do so effectively, a suitablepenetration plan is required

As a result, it is imperative to research this subject This issue not only benefitsHNF but also serves as a reference source for the Australian market strategy inparticular and the foundation for developing foreign market penetration plans forconfectionery firms in general.

1 Literature reviews

Foreign market entry strategy is a familiar topic that has attracted significantscholarly attention It's divided into three categories: level of control, resourcecommitment, and risk exposure (Anderson and Gatignon, 1986; Erramilli and Rao,1993; Hill, Hwang and Kim, 1990) For example, Erramilli and Rao (1993) classifymarket entry strategy into two groups depending on their level of control—full-control (i.e completely owned operation) and shared-control mode—in a study ofservice organizations' worldwide operations in the United States (i.e contractualtransfer or joint venture).

Kim and Hwang (1992) used a three-part classification system: licensing, jointventures, and wholly owned subsidiaries These strategies, according to Kim andHwang, give three various levels of control and necessitate different amounts ofresource commitment According to Kwon and Konopa (1993), each foreign marketentry strategy has benefits and drawbacks in terms of risk, cost, control, and return.Their research looked at the effects of a number of factors on 228 U.S.manufacturing companies' decisions to outsource production and export.

According to Agarwal and Ramaswami (1992), the most common entry strategiesare exporting, licensing, joint venture, and sole venture These methods necessitate

varying degrees of resource commitment Terpstra and Sarathy (2000) classifymarket entry methods into three broad categories based on product location: indirectexporting, direct exporting, and foreign manufacturing Because many factorsinfluencing market entry strategy selection have been proposed in the literature, it isnot possible to include all of them in a single study (Anderson and Coughlan, 1987).The conceptual framework for selecting a foreign market entry strategy used in thisstudy is based on the findings of studies in the literature, primarily those in theeclectic framework Dunning (1977, 1980, 1988) proposed the eclectic framework,which was later expanded by other researchers (e.g Hill, Hwang and Kim, 1990;Kim and Hwang, 1992) The eclectic approach has frequently been used to explainthe decision between FDI and other market entry strategies (e.g Agarwal andRamaswami, 1992; Kim and Hwang, 1992) This study will concentrate on one ofits three main components: location-specific factors It has been suggested thatlocation and ownership endowments are the most likely factors influencing FDI orexporting strategy selection (Dunning, 1973, 1977).

The influence of location factors on the choice of market entry strategy has beenspecifically or partially examined in a number of studies (e.g Kwon and Konopa,1993; Brouthers, Brouthers and Werner, 1996; Hill, Hwang and Kim, 1990; Kimand Hwang, 1992; Terpstra and Yu, 1988) Prior research has looked at a variety ofsubthemes to investigate the impact of host country geographical characteristics onmarket entry decisions Given that these topics have been thoroughly evaluated andpublished in various recent studies (Sarkar and Cavusgil, 1996; Tatoglu andGlaister, 1998), a comprehensive assessment of the literature may appearunnecessary The findings of various relevant investigations are summarized in thisstudy The following is a quick discussion of each factor category in the conceptualframework Section 3 provides a thorough examination of each factor According toprevious research, a firm's choice of FDI approach is linked to its familiarity withthe host market (Gatignon and Anderson, 1988; Sarkar and Cavusgil, 1996; Kimand Hwang, 1992) Firms with prior host market expertise are more likely to adoptan FDI option, according to research (Kim and Hwang, 1992) The immigrant effect

included in the market entrance mode literature (e.g Gould, 1994; LeverTracy etal., 1991) According to these research, immigrants from the host market are morelikely to operate as a link between the foreign enterprise and the host market.Immigrants frequently have extensive knowledge of their home country and arewell-versed in the culture of the host market Previous research has shown that theimmigrant effect could be thought of as a firm's location endowment This variableis proposed as a factor of location-specific endowment in the FDI literature in thisstudy According to several research, target nation market variables influencemarket servicing approach selection According to research, the size of the hostcountry is a major draw for foreign direct investment (Agarwal and Ramaswami,1992; Kwon and Konopa, 1993; Root, 1994; Terpstra and Yu, 1988)

Finally, several studies have suggested that the service requirements of a productcan also affect the choice of market entry strategy It has been claimed that when amanufacturing firm's product need a higher level of before or after-sales service, itwill make products in the host market or establish a local presence to ensure thatsuitable services are provided (Anderson and Coughlan, 1987; Ramaseshan andPatton, 1994) According to research on the internationalization of the servicesector, service providers whose products require a high degree of supplier-buyerinteraction are more likely to adopt an FDI approach to serve the market(Vandermerwe and Chadwick, 1989; Patterson and Cicic, 1995)

Currently, few researchers in the Vietnam are conducting study on marketpenetration tactics National Economic Publishing House, 2014, textbook "Kinhdoanh quốc tế." According to this textbook, business is no longer a domestic andworldwide issue, but understanding international business management knowledgeand skills is required Large corporations and small business owners alike seek toexpand their knowledge in order to thrive in a turbulent integrated world Everyonerecognizes numerous challenges as well as numerous opportunities However, noteveryone supports globalization for a variety of reasons and interests Hai Ha(2018), the article "Bí quyết thành công khi thâm nhập thị trường mới", published inSaigon Entrepreneur newspaper According to the article, the most important secret

stay relatively poorer; cities have accounted for nearly all of the increase These citydwellers are now the key drivers of the Chinese economy, accounting for more than60 percent of GDP growth The target customers of HNF in China are marriedwomen more than 35 years old After researching customer behaviour and localcondition, they realized that each area of China has a different logistics anddistribution system, therefore they had to change their strategy from one distributorto several distributors and devine the whole country into 3 parts: the North ofChina, the South of China, the South West of China They set some agents and usesales policy to support agents to deal with customers

Retail outlet

South of ChinaNorth of ChinaSouth West of China

Figure 4: Number of the retail outlet of HNF in China

Owing to population density and economic growth, the South of China is the mostdeveloped area for HNF As China is a large country that only one distributor is notenough for the whole population’s demand for consumer good Besides offlinestore, HNF has established an official online store, which has the highest revenueduring covid-19 pandemic In average, sales out is about 1200 tons each year inChina

Figure 5: Sales revenue of HNF in China from 2017 to 2021

Since 2017 to 2019, its revenue declined gradually and dip at the year 2020 due toCovid-19 pandemic China kept doing the “Zero Covid” policy that madecommercial trading being extremely hard HNF had to face with the rising cost ofinput material and logistics but still maintain stable relationship with Chinesecustomers Fortunately, in 2021, the situation had been improved so that the salesrevenue increase significantly and reach the peak at more than nine million dollars.In brief, HNF has hit the market in China due to the right strategy and the change intime The directors made the right decision at the right time to expand thedistribution network in China

In China, because it has a crowded population and wide area, HNF chose severalimporters in each area to distribute their product All the importers have to make acommitment not let dumping and regional invasive sales happen

Although the economic situation in 2 countries is different, HNF has made a good planin time and suitable for each market They choose direct export as entry mode to savecost and because of the low base of knowledgement of background information inthese two markets Australia is a wide country with a huge amount of potentialcustomer and has different cuisine from these two Asia countries Therefore, HNF needto prepare carefully and adapt changes to suit with this new market.

SUMMARY OF CHAPTER 2

Chapter 2 focuses on the two following main areas:

Firstly, it gives an overview of Huu Nghi Food’s global business operation includesin domestic and other international market.

Secondly, it provides general information, the entry strategy of China andMyanmar, sale report in these 2 countries and the proportion of distributors in eachmarket.

The end of chapter 3 presents experience lesson for HNF in entering the Australianmarket.

CHAPTER 3: SOLUTIONS AND RECOMMENDATIONS FOR HUU NGHI TO ENTER THE AUSTRALIAN MARKET

One of the first steps to enter a new market is to do research about that market.This thesis focus on some aspects of the Australian market such as category,consumers, and competitors.

Canberra is the country's capital, and Sydney is its largest city Australia is theworld's sixth largest country, with a total land area of 7,741,220 square kilometers(Plecher, 2019) Its neighbors include Papua New Guinea, Indonesia, East Timor,the Solomon Islands, Vanuatu, and New Zealand.

Australia belongs to the Commonwealth of Nations, the Organization for EconomicCooperation and Development, the Group of 20 (G20), and the WTO It maintainsclose ties with the US It has a politically stable and secure environment However,it has received a lot of criticism in the past for a variety of issues For example, NewZealand's Justice Minister has criticized the country's deportation policies(Newshub, 2017) Similarly, the UN condemned Australia for failing to respecthuman rights, Indigenous rights, and refugee treatment (The Conversation, 2018).Economic

The economic situation is the 2 factor to be considered in Australia's PESTELndanalysis Australia has the 14t largest economy in the world Despite being lesshaffected by worldwide lockdowns in 2020, its GDP is expected to grow by 3.1

percent by 2022 Investment in businesses, household earnings, and inflation are allexpected to rise gradually (OECD, 2020).

In Australia, all firms are required to pay an income tax rate of 30% on their taxableincome Small businesses, on the other hand, pay a reduced tax rate of 26% Thisfigure is expected to fall to 25% in the coming years (PwC, 2020) Individual taxrates vary according to an employee's wages.

Only a few of Australia's major imports are vehicles, machinery, mineral fuels suchas oil and refined petroleum, delivery trucks, electrical apparatus and equipment,pharmaceuticals, medical devices, precious metals, plastics, and furniture Iron ore,gold, coal, natural gas, cattle, wheat, financial and educational services, and copperare among the country's principal exports The primary commercial partners includeChina, Japan, Germany, India, the United States, Thailand, and South Korea (OEC,2021).

Australia is one of the best places in the world to live in terms of wealth, education,health, and living standards In comparison to other major economies, Australia hasa relatively small population of approximately 26 million people (Worldometer,2021) Men have a life expectancy of 80 years, while women have a life expectancyof 84 years The country's dilemma, though, is that there are more retirees thanthose of working age.

Australia is one of the world's most multicultural and multilingual countries It has asubstantial indigenous population, which is thought to have migrated from Asiathousands of years before British settlers arrived in 1788 Following WWII,Australia implemented a significant open border policy; yet, migration remains apolitically contentious issue in Australia.

Every year, thousands of foreign students enroll in Australia's public and privateuniversities International students currently make up more than a quarter of thestudent body at certain of the country's universities (Robinson, 2018) China, India,

Nepal, Malaysia, Vietnam, Brazil, and Colombia account for the bulk ofinternational students.

Australians are noted for their energy, hard work, and extroverted personalities.They spend a substantial amount of their leisure time participating in or watchingsports Australia is among the best in the world in a variety of sports, includingcricket, hockey, and swimming Its sport industry makes a substantial contributionto the nation ’s GDP.

Australia is one of the most technologically advanced countries in the world It isknown for adopting new technologies faster than many other developed countries.The country has undergone enormous technological breakthroughs over the years.Local businesses are investing in technology to meet the growing demands of theircustomers Machines and equipment, software, tech consultancy services, the cloud,and artificial intelligence are expected to drive these investments, resulting in highercreativity and designs

Australia is one of the most fascinating places on the earth, with gorgeous beaches,mountains, and forests It is also famous for its remarkable biodiversity In reality,there are over one million flora and fauna species in this country It comes as nosurprise that the country draws millions of overseas visitors each year.

Australia, on the other hand, is dealing with some environmental issues Australia,for instance, is the world's driest populous continent Global warming, on the otherhand, is a major issue According to a recent Senate report, climate change is a"current and existential national security risk" for Australia It may cause waterscarcity, the spread of infectious diseases, and regional disputes over food, water,air, and land.

The regulatory environment of Australia is the final factor to consider in thecountry's PESTEL analysis In Australia, fair trade laws, competition laws, and

consumer laws exist to protect fair trading for both businesses and consumers TheFair Work Act of 2009 is the world's greatest piece of employment legislation.Similarly, privacy laws control how businesses handle their customers' personalinformation.

3.1.2 Market size

Confectionery foods have a high levels of sugar Chocolate and chocolate products,sugar confectionery (such as chewing gum and sweets), ice cream, and preservedpastry items and cakes are all examples of confectionery This category excludeschocolate spreads and jams The confectionery industry accounts for the vastmajority of HNF's exported goods, which include biscuits, cookies, and cakes.Australia's confectionery business will earn $12.56 billion in revenue by 2022 Themarket is expected to increase at a 2.03 percent annual rate (CAGR 2022-2027).Based on overall population figures, an income of 481.9 USD per person is earnedin 2022 at a 40.2kg average volume per person (Statista).

Due to high disposable income and increased demand for sweets among the youngpeople, the chocolate market in Australia is predicted to develop at a 7.79 percentCAGR from 2022 to 2027 Other important factors fueling the expansion of theAustralian chocolate market include the quick expansion of the FMCG sector's e-commerce industry and the rising product line variants offered by chocolate marketparticipants Changing consumer lifestyles, greater consumer knowledge of healthadvantages, and growing consumer interest for luxury chocolates are all key driversin the Australian chocolate business.

Natural foods are also regarded to be more nutritious and healthier As a result ofAustralia's growing taste for naturally and organically sourced products,manufacturers have begun to incorporate organic chocolates in their productselection To cater to health-conscious consumers, some big chocolate businesseshave released healthy goods such as organic, vegan, sugar-free, and gluten-freechocolates in recent years.

Figure 6: Confectionery Revenue in Australia 2018-2021

The Australian chocolate market is predicted to expand fast over the forecast period,owing to increased demand for organic chocolates Moreover, Australia chocolatemarket participants are developing attractive product packaging, innovativebranding activities, promotional events, and marketing strategies to target children,who constitute the majority of the end-user segment, thereby assisting the Australiachocolate market's growth.

Avarage Revenue per Capita

Ice CreamSugar confectioneryChocolate confectioneryPreserved Pastry Goods & Cakes

(Unit: USD)

Source: StatistaFigure 7: Confectionery average revenue per capita in Australia 2018-2021Furthermore, consumer preferences are shifting toward sustainability; as a result,Participants in the Australian chocolate market are opting for sustainable practices,which are projected to widen their client base even more Cocoa procurement isbecoming more sustainable around the world, and Australian producers are aimingto do the same Child labor is a problem in the African cocoa business, and groupssuch as the World Cocoa Foundation are striving to eliminate it globally.Furthermore, businesses are trying to attain 100% sustainable cocoa procurement.The demand for premium chocolates is growing throughout the country, which isincreasing the number of specialty chocolate stores Due to a combination of tastepreferences and a high per capita income, Australians are increasingly drawn tohigh-end chocolate offerings Furthermore, manufacturers are moving toward apremium product portfolio because consumers are going to spend more money onhigh quality products because it is assumed that purchasing premium products raisesa person's social status This is predicted to drive chocolate demand in Australia

3.1.3 Market growth

The Australian confectionery market is expected to grow at a compound annualgrowth rate (CAGR) of 1.3 percent between 2015 and 2019 Revenue is expected tobe around 15.76 billion USD in 2021, with a CAGR of 0.94 percent between 2021and 2025.

Consumption volume climbed at a compound annual growth rate of 0.4 percentfrom 2015 to 2019, then decreased to -0.7 percent in 2022 and is predicted to reach1.49 billion kg by 2025.

In Australia, the average amount of confectionery consumed per person isapproximately 57.2 kg (2021), resulting in a spend of approximately $611.27.(Statista)

In the Australian market, the HNF product mentioned in this study is regarded as asnack food Its sales have gradually increased over the last five years as consumerdemand has increased.

Consumer trends have kept food and beverage entrepreneurs on their toesthroughout the modern era Confectionery makers are increasingly responding toconsumer demand for healthier products with lower sugar and fat content Obesityfears have motivated Australians to choose a healthier lifestyle Consumers todayare more obsessively monitoring and controlling their daily caloric intake than ever,and the results are visible throughout Australia, in which consumer preferences forsugar-free and fat-free confectionary is constantly increasing.

Confectionery companies are working hard to accommodate these expectations byexpanding their product ranges and launching new goods that appeal to buyerslooking for mental well-being In addition to the sugar-free obsession, theconfectionery business is gradually adopting the vegan trend, with more veganbaked goods emerging on supermarkets and retail shop shelves.

2 0 1 82 0 1 92 0 2 02 0 2 1

REVENUE GROWTH OF CONFECTIOnery market

ConfectionerySnack Food

Unit: Billion USDSource: Statista

Figure 8: Revenue growth of confectionery market in Australia 2018-2021

In spite of a drop in the total number of confectionery enterprises in Australia,industry trends indicate that the number of small-scale industry participants andboutique confectionery and candy producers has steadily climbed As a result, thereis more polarization in the confectionery industry between premium companies likeNestlé and Mondelez and small-scale brands Confectionery sector revenuescontinue to rise year after year, as brands embrace the trend of creating alternativeproducts with healthier ingredients The use of improved ingredients, such asnatural colors and flavors, will most likely be at the heart of current and futureinnovations Confectionery containing fresh and dried fruits, as well as a hint offruit essence, is also expected to gain popularity in the near future.

In response to rising demand, manufacturers are leaving no stone unturned in theirefforts to improve the quality and health quotient of their treats Nestlé recentlyconfirmed that, in response to growing health concerns among Australianconsumers, it plans to reduce sugar content and add dietary fiber to its lollipops line.

Despite increased demand for natural and healthier options, statistics reveal thatcustomers are unwilling to sacrifice on flavor - a difficult task for which thecountry's confectionary businesses are looking for solutions This decision is highlyaffected by what customers want, and Nestlé is actively researching the prospect ofusing a similar strategy for other goods The business also noted that the new goodsdo not include artificial sweeteners and that the overall sugar content has beenlowered and replaced with soluble dietary fiber It is probably fair to say that NestléAustralia is at the forefront of innovation and sugar reduction initiatives - a trendthat the firm is devoted to continuing and keeping up with other brands in theAustralian confectionery business.

Due to changing consumer preferences, confectionery operators have had littlechoice but to expand their existing product offerings It is currently impossible toignore the growing demand for organic food items Furthermore, the organic trendhas slowly spread into the confectionery industry, and Australian are eager toembrace it Many confectionery companies are focusing on giving their customersan indulgent organic experience Organic chocolate has grown in popularity inrecent years as a result of the growing organic trend, with more and more brandsintroducing various organic chocolate variants to the playground It is important tonote that both iconic and well-established brands, as well as smaller industry names,are entering the organic chocolate production market – a trend that is expected tocontinue.

3.2 Consumers

From February 22nd to April 24th, HNF distributed a survey via their socialnetwork as well as various social media platforms such as Reddit, Craigslist, andFacebook, among others Their target audience consists of Asian communities inAustralia The survey received 137 responses, and the customer analysis in thisstudy will be based primarily on the survey results and the Australian confectionerymarket report.

The following components will be covered in the consumer analysis:- Demegraphic

- Consumer Preferences- Consumption- Purchasing Influences- Marketing

- Retail channelsDemographics

According to the survey results (Appendix 1), 64 percent of respondents are fromSydney, 15 percent are from Melbourne, and the rest are from other parts ofAustralia The majority of respondents (78,8 percent) are female, Vietnamese (43,1percent), or other Asians (94,9 percent ) The age groups of 36-45 years old and 18-25 years old have nearly equal representation (33,1 percent and 31,6 percent,respectively) The majority of respondents have a monthly income of more than6000 AUD per month, accounting for 30,1 percent of the total In terms ofoccupation, 51,5 percent of them are employed, while 15,7 percent are housewives.55,3 percent of respondents are married, and 77.,8 percent have a family size of 2-4family members.

Consumer Preference

As evidenced by the consumer preference survey results (Appendix 2) When itcomes to the origin of egg cookies, the majority of people (43.06 percent) preferVietnamese-made cookies among Asian products, while some people occasionallyprefer Thai (13.87 percent), or have no preference at all (10.22 percent ) The bulkof cookie users (56.4 percent) use the brands Richy and Orion Before making anydecisions, Australian customers pay close attention to the country of origin.Although Asian confectionery such as Vietnam and Indonesia are not preferred, thisis because they regard European confectionery as "authentic" due to its long history.Consumption

According to the Australia confectionery market report, the cookies market iscurrently stable Because of rising customer choice for convenience food or on-the-go light snacks, rising consumer taste for healthier products, expanding urban