Megatrends in Vietnam

October 2022

This Megatrends report highlights long-term trends resulting from shifts in consumer values and behaviour. It provides a summary of each of Euromonitor International’s eight focus megatrends and insights as to how each trend has manifested in Vietnam.

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This report comes in PPT.

Overview:

Consumer Lifestyle reports provide detailed snapshorts of the behaviours, attitudes and spending patterns of consumers in 40 countries. 

The Lifestyles reports offer valuable statistics and insights into key consumer traits and values, linking behaviour trends with purchase and consumption habits. Using lifestyles survey data, these reports quantify behaviours, preferences and motivations both now and in the future across specific consumer-related topics relating to how consumers live, shop, work and play in 40 markets. Analysis is also included on how Euromonitor’s 8 focus megatrends, the longer-term shifts in consumer attitudes and behaviour, are playing out in each of the 40 countries. Consumer lifestyles are constantly shifting. Understanding behavioural shifts is vital for businesses to stay competitive and adapt to in order to capitalise on new opportunities.

The Consumer Lifestyle in Vietnam report includes:

Lifestyles survey data and analysis on consumer values, behaviour and future expectations on topics such as life priorities, home and work life, ethical and health priorities and eating, leisure and shopping habits and use of technology. Consumer Megatrends covered are: Connected Consumers Ethical Living Experience More Healthy Living Middle Class Retreat Premiumisation Shifting Market Frontiers Shopping Reinvented

The Consumer Lifestyle in Vietnam report answers:

  • How is the consumer mindset in Vietnam changing? In Vietnam, what are consumer attitudes towards “green” and sustainable products?
  • What values influence consumers in Vietnam purchase decisions?
  • Where and how do consumers shop in Vietnam?
  • What health-related activities do consumers in Vietnam participate in?
  • What megatrends should I focus on in Vietnam (and why)?
  • How do I prioritize my investment? I operate in country x, which are the most important megatrends in that country?
  • My product chimes with the Healthy Living trend, what consumer behaviours do I need to consider for innovation planning?
Scope
The drivers shaping consumer behaviour
Megatrends framework
Businesses harness megatrends to renovate, innovate and disrupt
Digital living
Super-apps MoMo and Gojek combine forces to help drive cashless payments
Consumers rely increasingly on apps for everyday activities
Most Vietnamese actively manage their data settings
Millennials are the most willing to share data in exchange for offers
Friends and family remain the most trusted sources of information
Return to face-to-face activities expected post-pandemic
Experience more
TikTok trials new in-app mini-game feature in Vietnam
Interest in virtual reality is growing, but real-world experiences are preferred
Online socialising is the norm post-pandemic
Travellers prioritise relaxation and safety
Millennials are the most eager to resume face-to-face activities
Middle class reset
Homebase provides aspiring homeowners with novel alternative to traditional mortgages
More than two fifths of consumers lead minimalist lifestyles
The concept of repurposing is gaining ground
Younger generations plan to increase visits to discounters
Premiumisation
VinFast launches Vietnam’s first domestic EV along with unique battery rental system
Most Vietnamese yearn for a simpler life
Consumers are generally confident in the value of their investments
Quality trumps value for money in home care and clothing
Shifting market frontiers
“Vietnamese people give priority to using Vietnamese goods” campaign is expanded
Vietnamese consumers are fans of international brands
Millennials show the most support for local products
Shopping reinvented
Newly rebranded WinMart promotes convenience with “mini-mall” format
Smartphones are the shopping channel of choice in most categories
Shoppers enjoy engaging with companies via social media
Gen Z are most likely to follow companies’ social media feeds
Sustainable living
Social commerce start-up Mio App supports farmers and empowers rural women
Consumers want to play a part in combating climate change
Reducing plastics use is the top environmental concern
Consumers are increasing support for responsible brands
Recyclable packaging is considered the most sustainable
Wellness
Nestlé launches NAN SUPREMEpro 3 infant formula with five HMOs
Vietnamese are among the world’s most physically active consumers
Massage and yoga are the top wellbeing activities
Consumers embrace health tech
Health and safety are paramount in the post-pandemic era
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