VN land of opportunities, Nielsen survey finds

Friday, Sep 11, 2015 16:52

Convenience has become a way of life and more than 42 per cent of consumers shop at supermarkets. — Photo

HA NOI (Biz Hub) — Viet Nam is considered a land of opportunities where consumers now have more power and willingness to spend, according to a report released by the global performance measurement company Nielsen on September 8.

Viet Nam Consumer Landscape 2015 found Vietnamese among the most optimistic consumers globally since they are earning more and spending more.

Their monthly income per capita increased by 44 per cent between 2010 and 2012, and the rate of consumption by 32 per cent.

As a result, Vietnamese have a strong desire for a better life, with 73 per cent of consumers polled being willing to pay more for higher quality as well as health, and 39 per cent considering health as their top concern.

The highest percentage of saving every month is for children's future (34 per cent), health (12 per cent) and first time home purchase (11 per cent).

Vietnamese have more opportunities to shop and buy than ever before. E-commerce is playing an important role when 42 per cent of consumers bought groceries at supermarkets.

Convenience has become a way of life and the shift starts with young people and professionals. Around 23 per cent of students and 36 per cent of white-collar workers/professionals often shop at supermarkets and convenience stores.

The number of convenience stores in the country more than doubled last year to 348 from 147 in 2012, while the number of mini-marts increased to 600.

But traditional groceries outlets remain dominant. More than 80 per cent of the sales of consumer goods was done through the 1.3 million traditional outlets nation-wide.

Technology has brought Vietnamese people more opportunities to stay connected. Smart phone sales is booming, with nearly half of Vietnamese owning one. When watching video programming, 62 per cent use of people computers, 30 per cent use mobile phones and 26 per cent use tablets.

E-tailing is growing now with 28 per cent of consumers preferring to shop online for home delivery.

Nielsen, which is headquartered in the US, studies consumers in more than 100 countries. — VNS

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