Consumer Pulse

What's up with consumers in Vietnam?

Shifts & Changes

Consumer spending stays strong

Vietnam's GDP per capita growth stays resilient at around 6% despite uncertainties in the global environment ¹. Rising real wages coupled with low inflation are sustaining healthy consumer spending in Vietnam with Q2 2017 consumer confidence at a 5-year high ².

Rising urban stress

Urbanisation accelerates the pace of life in Vietnam. Together with other factors, this is placing more stress on the Vietnamese urban population ⁵.

E-commerce on the rise

Internet usage, especially on mobile phones, continues to be on the rise. More Vietnamese are buying products and services online, putting the e-commerce market in Vietnam at a value of 1.8 billion USD in 2016 based on research by We Are Social.

Trend Spotlight

Technology fueling efficiency and productivity in life

As pace of life speeds up with more things to accomplish in their everyday life, Vietnamese are turning to technology to help them do things more efficiently and achieve more out of their time.

Based on observations from in-market ethnographers, the following new products/services seem to help address the above consume trend.

CheckIt

CheckIt is a mobile app that summarizes more than 1,000 books in various fields. Readers can get to the key messages of a book without having to read it cover to cover. CheckIt appeals to busy Vietnamese who are thirsty for more knowledge but have little time to spend.

designbold

designbold is a simple and easy-to-use web-based graphic design tool that allows anyone to instantly create designs without having to learn any technical skills beforehand. With designbold, users can efficiently create and share their designs without having to navigate complicated software interface.