Vietnam Consumer Trends & Growth Opportunities & 2019 Predictions

Brands Vietnam 01/02/2019

Consumers are much more upbeat about the overall economy for 2019, than in 2017, while the business community is more skeptical, meaning down turn is on the horizon.

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Major concerns for 2019

Global economic down turn and pollution, infrastructure development and increased inflation are keeping people awake at night.

2019 vs 2014 Spending Priorities

Most spending priorities have not changed over the years. However, self pampering, enjoyment purchase / activities, such as personal Care, entertainment and purchasing convenience such as homeappliances are on the rise...

FMCG value & volume growth

FMCG growth in Urban Vietnam is non existent, save for Rural Vietnam at 5.5% Value and 3.2% Volume growth. Note: 1st time in 25 years Zero Urban Growth

% Total Media Consumption in Vietnam

TV is still King, But digital is catching up quickly

2019 Predictions

Positives

  1. Consumer confidence is still very high, hence driving positive growth in 2019, but there are signs of slowdown beyond this year
  2. Any service / product providing entertainment, convenience and pleasure will see growth
  3. All things digital continue to grow – convenience driven

Negatives

  1. Real estate market will begin to slow down in 2019
  2. All basic home care / improvements, utilities & transport should decline in growth
  3. Private dept will continue to grow & be a major threat if inflation goes rampant
  4. Potential erosion of Vietnamese brands due to value for money and quality issues
Thông tin khác

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