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 10 focus megatrends and insights as to how each trend has manifested in Vietnam.
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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
Businesses harness megatrends to renovate, innovate and disrupt
The drivers shaping consumer behaviour
Megatrends framework
Time-pressed consumers will prioritise convenience
Convenience
Nestlé’s ready-to-serve liquid coffee combines convenience and tradition
Vietnam’s busy consumers are ready to invest money to save time
Tech-savvy consumers value smart home functionality
Shoppers like the better guarantees offered by physical stores
Online shoppers value the ability to research items more thoroughly
Vietnamese seek time-saving alternatives to home cooking
Digital living
MoMo integrates its payment solutions into Grab’s super-app
Vietnamese exceed global average in many forms of tech use
Consumers pay greater attention to data privacy
Millennials most actively manage their data online
Vietnamese have greater trust in personal recommendations than in brand messages
Consumers expect more face-to-face interactions in future
Diversity and inclusion
New initiative from CARE/Mastercard offers support for Vietnam’s female entrepreneurs
Vietnamese are more willing to donate to non-profits as part of their social good activities
Vietnamese people have a strong community spirit
Most consumers feel that their identity is accepted
Brand trust is crucial for shoppers
Experience more
Škoda unveils new auto experience centre in Hanoi
Vietnamese are especially fond of day trips
Consumers aim to feel safe and relaxed when on holiday
Millennials are the most enthusiastic about tailored experiences
Personalisation
Masan expands loyalty programme to provide more targeted offerings
Social media-loving Vietnamese are conscious of their online image
Eagerness for self-expression drives personalisation trend
Premiumisation
Vissan’s “Clean Meat Festival” aims to gain consumers’ trust in branded fresh meat
Consumers seek uniqueness and convenience
Shoppers become more discerning as incomes rise
Vietnamese favour foods with health-focused attributes
Pursuit of value
Budget ride hailing platform Cudidi benefits both passengers and drivers
Vietnamese shoppers are thrifty, though not bargain-orientated
Consumer confidence is hit by rising living costs
Repurposing movement grows among conscious consumers
Young people are the most conscious of the need to save money
Shopper reinvented
Livestreaming platform GoStream receives funding for further expansion
Celebrities are highly influential in Vietnam
Most types of product are still purchased in store, despite e-commerce shift
Vietnamese shoppers enjoy engaging with brands
Gen Z embrace social media as a shopping channel
Sustainable living
VM Style promotes sustainability through clothes recycling initiative
Vietnamese consumers have a strong sense of responsibility
Consumers pay more attention to the environmental impact of their purchases
Lowering plastics use is the top environmental priority
Companies’ ethical practices come under the spotlight
Consumers support packaging that is recyclable or compostable
Wellness
Morinaga’s MNFV launches functional products tailored to Vietnamese market
Mindfulness activities are considered important for mental wellbeing
Vietnamese take a keen interest in physical fitness
Consumers remain alert to issues of personal safety
Leverage the power of megatrends to shape your strategy today
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Gain a thorough knowledge of shifting consumer attitudes and habits and fill in information gaps to inform product/service development, market positioning and channel strategy.
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