One year on from arriving in Vietnam the fast food giant is still to make a significant mark on the country's dining scene.
McDonald’s has marked its first birthday in Vietnam with the opening of a fourth restaurant but its business results have proven a disappointment to date.
The dining culture and incomes of Vietnamese people appear to be the main factor behind them not spending on hamburgers and French fries, which are four times more expensive than a bowl of pho.
One supplier for McDonald’s, who wished to remain anonymous, still strongly believes in the potential for success in Vietnam however. He pointed out that 65 per cent of its population are under the age of 35, which is the target demographic of McDonald’s, and all that is needed is for the fast food giant to create the right dining culture and become a top-choice weekend destination for families.
Mr. Sean Ngo, CEO of VF Franchise Consulting, said that McDonald’s Vietnam is considering a “long-term” move in Vietnam - opening up to 100 restaurants over the next decade.
- Sean Ngo
- VF Franchise Consulting