| Introduction to Vietnamese Coffee Culture |

• Vietnam boasts over 300,000 restaurants and coffee shops, offering a rich and diverse culinary experience for locals and tourists alike. According to a report by iPos.vn, VIRAC, and the Vietnamese F&B Community, the country currently has nearly 338,600 restaurants and coffee shops. Among these, Ho Chi Minh City holds the largest share with 39.78% of the total, nearly three times that of Hanoi.

• In 2022, the F&B (Food and Beverage) sector in Vietnam achieved an estimated revenue of nearly VND 610,000 billion. A survey of nearly 3,000 restaurants and coffee shops revealed that 46.5% of F&B businesses have yet to offer online sales. However, 82.8% of businesses have started digital transformation, integrating technology into sales operations and inventory management.

• With nearly 4,000 participants surveyed, the two most important criteria when choosing a dining or drinking venue are the quality of food and beverages and the price. The budget for "going for coffee" among Vietnamese ranges from VND 40,000 to VND 70,000, and can increase to about VND 500,000 per person on special occasions.

• Interestingly, 77.16% of customers are maintaining or even increasing their spending on food in 2023, despite economic challenges. This indicates that, despite fluctuations, people still prioritize spending on culinary experiences.

• The F&B sector has strongly rebounded after the pandemic. The market value in 2023 is projected to increase by 18% compared to 2022, reaching VND 720,000 billion. By 2026, the sector is expected to continue its stable growth, reaching a value of VND 938,300 billion.

• 2023 may become a battleground for market share among large chains, while smaller investors remain cautious. This is considered a general impact of the economy, expected to continue into 2023. However, large brands, with their accumulated capital, are seizing the opportunity to dominate the market.

• Therefore, online sales will only be suitable for exploitation during low seasons and no longer a safe direction for purely online business models as before.