Vietnam is considered a land of opportunities where consumers now have more power and willingness to spend, according to a recent report released by the global performance measurement company Nielsen.
Co.op mart in Ho Chi Minh City (Illustration image: VNA)
Vietnam is considered a land of opportunities where consumers now have more power and willingness to spend, according to a recent report released by the global performance measurement company Nielsen.
Vietnam Consumer Landscape 2015 found Vietnamese among the most optimistic consumers globally since they are earning more and spending more.
Their monthly income per capita increased by 44 percent between 2010 and 2012, and the rate of consumption by 32 percent.
As a result, Vietnamese have a strong desire for a better life, with 73 percent of consumers polled being willing to pay more for higher quality as well as health, and 39 percent considering health as their top concern.
The highest percentage of saving every month is for children's future (34 percent), health (12 percent) and first time home purchase (11 percent).
Vietnamese have more opportunities to shop and buy than ever before. E-commerce is playing an important role when 42 percent of consumers bought groceries at supermarkets.
Convenience has become a way of life and the shift starts with young people and professionals. Around 23 percent of students and 36 percent of white-collar workers/professionals often shop at supermarkets and convenience stores.
The number of convenience stores in the country more than doubled last year to 348 from 147 in 2012, while the number of mini-marts increased to 600.
But traditional groceries outlets remain dominant. More than 80 percent of the sales of consumer goods was done through the 1.3 million traditional outlets nation-wide.
Technology has brought Vietnamese people more opportunities to stay connected. Smart phone sales are booming, with nearly half of Vietnamese owning one. When watching video programming, 62 percent use of people computers, 30 percent use mobile phones and 26 percent use tablets.
E-tailing is growing now with 28 percent of consumers preferring to shop online for home delivery.
Nielsen, which is headquartered in the US, studies consumers in more than 100 countries.-VNA
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Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
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Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Co.op mart in Ho Chi Minh City (Illustration image: VNA)
