PUBLISHER: Euromonitor International | PRODUCT CODE: 1569596
PUBLISHER: Euromonitor International | PRODUCT CODE: 1569596
Longer life expectancy, falling birth rates and the growing influence of younger generations are transforming Vietnam's consumer landscape. Millennials and Gen Z are gaining influence, while single-person households are seeing rapid growth. Traditional gender roles persist, impacting households' purchasing priorities. Stubborn inflation means consumers remain cautious in their spending, while quality over quantity prevails and a focus on sustainability remains paramount.
Scope
Key findings
Key drivers affecting consumers in Vietnam in 2023
How developments today shape the consumer of tomorrow
Unhealthy diets result in raised cholesterol levels among Vietnamese
Ho Chi Minh City to remain Vietnam's economic hub
Opportunities for growth
Majority of Vietnamese are the owners of their homes
Rapid digitisation will ensure greater technological innovation and convenience
Financial literacy increasing as unbanked population continues to shrink
Ho Chi Minh City to remain an economic hub owing to high consumer expenditure
Key findings consumer survey
Financial security supports millennials' willingness to pay premium prices for goods
Cost-conscious consumers showing greater willingness for private label
Vietnamese actively trying to reduce effects of climate change in their country
Saving mindset ensures confidence in financial ability
Upskilling and further education strong enablers for career development