|Report Published||Th9 2019|
Cimigo market research releases their annual perspective on the Vietnam consumer trends to watch out for in 2019. The presentation unveils what drives the phenomenal success of Vietnam.
1. Rapid urbanisation demands ultra convenience in Vietnam.
2. Vietnam now the most interconnected trading nation globally.
3. Increasing intra Asia trade and investment for Vietnam.
4. More women work in Vietnam than anywhere else in region.
5. Entrepreneurial spirit and multiple income sources.
6. Middle class acceleration in Vietnam.
7. Internet economy shifts consumer priorities. Internet economy at US$9 billion in Vietnam.
8. Online shopping will surpass modern trade share of sales in 2028 in Vietnam.
9. Keeping up with the Nguyen’s with consumer finance in Vietnam.
10. Speed of change – opportunities to leap frog abound in Vietnam.
Constraints on consumer packaged goods growth in Vietnam
1. Decelerating birth rate, under 12s and pester power in Vietnam.
2. Rural the next growth frontier….population is in long term decline in Vietnam.
3. Consumer naivety is over, brands face rapid claim wear out in Vietnam.
4. Food safety challenges trust and force Vietnamese consumers to be smarter.
5. Convenience stores ease market access in Vietnam.
6. The choice paradox is now overwhelmingly counter productive in Vietnam.
7. Brands have forgotten how to innovate in Vietnam.
8. Experiences over tangible goods, shift purchase priorities in Vietnam.
9. More data yet less informed. Massive media fraud.