HCMC – The market for goods as well as education and entertainment services for children in Vietnam is estimated to reach around US$5.2 billion a year, according to research findings by Nkind Trading Service Co.

According to Thomas J. Ngo, general director of Nkind, Vietnam currently has around 20.8 million children aged up to 12. The goods and services market for children is quite huge but has yet to be fully tapped.

He said the market for children was divided into three main groups, with the first two for education and healthcare and the last for all products produced for children.

Among these, the last group reaches US$3.1 billion per year, with milk and nutritious food products accounting for up to US$1.2 billion, other products such as clothes, diapers and hats around US$1.1 billion and entertainment services US$700 million.

Parents spend an average of around VND800,000 per month on products and services for a child. Meanwhile, the average spending recorded in HCMC almost doubles the country’s average with VND1.4 million per month.

Source: http://english.thesaigontimes.vn