The Changing Vietnamese Consumer Landscape

1. Shifting Consumer Landscapes

2. Cimigo ‘Shifting Consumer Landscapes’ – Readers Notice Cimigo ‘Shifting Consumer Landscapes’ provides a ‘global’ view of the Vietnamese consumer landscape. Cimigo ‘Shifting Consumer Landscapes’ is best presented by an experienced Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn 2 marketer. It is prepared primarily for overseas guests and new marketing staff seeking to familiarise themselves with the Vietnamese consumer landscape. You are welcome to use all or parts of Cimigo ‘Shifting Consumer Landscapes’ in your internal business presentations provided Cimigo is shown as the source. Please respect the Cimigo Use and Limitations of Use of Content as detailed at www.cimigo.vn. Should you wish to share this presentation outside of your organisation please do not forward it; simply direct the intended recipient to www.cimigo.vn to register and download this presentation free of charge.

4. Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn 4 My Agenda Keeping Up With The Nguyen’s – Vietnam’s 10 Year Rapid Accession The Family Nguyen – How This Shapes Who We Are Unlocking Mrs Nugyen’s Mind and Purse – How We Can Leverage This?

5. Fast Shifting Social Trends “Nowadays freedom is an excuse for doing whatever one wants without thinking about others; women want careers rather than families, men spend more time out of home, drinking and enjoying with their friends than contributing to their families, women are freer with their favours and couples find it easier to divorce without thinking of what they are doing to their families and children…” Phuong 30 years old, from HCMC Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn 5

6. Keeping Up With The Nguyen’s Vietnam’s 10 Year Rapid Accession

7. 2000 Rapid Accession to 2010 78 million people 87 million people US$27.5 billion economy US$351 GDP per person 0.51 million ABC households US$78 billion economy US$900 GDP per person US$740 million advertising spend Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn 7 in 6 cites 5.8 million ABC consumers in 6 cities US$108 million advertising spend 2.6 million ABC consumers in 6 cities 1.3 million ABC households in 6 cites

8. The Family Nguyen How This Shapes Who We Are

10. 10 The Family Nguyen - How This Shapes Who We Are Youth translate the consumer world for their parents Progressive Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn and entrepreneurial Happiness is money Confused and Desperate to frustrated express myself Thirst for edutainment Success is imbued in pride Success through the eyes of my child

16. 16 Money (and Quickly) Makes You Happy Many consumers know what it is truly like to be hungry – Too wrap your feet in newspaper during winter, to lay husk to sleep on to keep warm, to the relish of having meat at TET Society has come a long way. The rapid accession has polarised focus on getting ahead by getting rich very fast. Incredible naivety exists amongst youth today about to enter the work force regarding their prospects in society. Whilst endearing they are headed into a horrible reality check. That $$$ makes you happy is a value or aspiration being instilled in children. The need for making social statements of status via brands has only just begun. Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

17. 17 Money (and Quickly) Makes You Happy 7 in10 believe my success is defined by my job Only 3 in 10 like to avoid people who show of their wealth 50% believe money is the most important thing in my life Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

19. 19 Success is Imbued in Pride Fortunately for marketers, success is imbued in pride (commonly referred to as ‘face’) which has to be visual to be recognised. This leads to considerable conspicuous consumption. 2/3 Prefer branded products 6 in 10 I like to have the most up to date gadgets 1/3 Like to buy new brands as soon as they are launched Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

22. 22 My Missed Opportunities Are His to Take Through the yes of my child I shall achieve success His success is my success He reflects on me Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

25. 25 Youth Translate Consumer World to Parents Half of Vietnam’s population are under 30. Changing attitudes leave vast generation gaps where children are far more consumer savvy than their parents. Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

26. No role models Confused parenting Different value appreciation Influence from peer group Too fast for me to catch up Too complicated to understand Too busy to understand Too little time to earn money They Don’’t Know How to Listen to One Another 26 Generation Gap Widens Dramatically! The Young Ones The Old Ones Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

28. They want to succeed, to develop, to catch up with not only the money in feeding the appetite. In doing so they open up a world of opportunities for you (the audience). 28 Thirst for Edutainment Rising disposable incomes create an increasing desire to experience new opportunities. They really want knowledge, information and experiences Nguyen’s next door but also the Thais in Bangkok and the Chinese in Singapore. They have an appetite for edutainment – will invest time and Edutainment is the path to progress. Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

31. An outlet for expression An outlet for Nationalism Everybody gets involved - old, young, men, women, grandma - everyone 31 Traditional Outlet for Expression of National Pride Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

33. 33 The Family Nguyen - How This Shapes Who We Are Youth translate the consumer world for their parents Progressive Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn and entrepreneurial Happiness is money Desperate to express myself Thirst for edutainment Success is imbued in pride Success through the eyes of my child Confused and frustrated

34. 34 Increasingly Aware of What Could Be…… Increasing opportunities (Commercial education) for women Always out of home / hardly stay in home Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn Thirst for Edutainment Increasing opportunity for outbound travel More socializing out of home, drinking, café, etc More international standard education

35. Happiness defined as 35 Heaviest Toll on Family – Conflict With Traditional Values From community to individual needs’’ From extended to nuclear families Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn satisfaction Modern day working ethos requirements Emerging gender equality changing roles in society Divorce acceptable money Pre-marital sex Change in parenting the norm Materialism critical

36. 36 Challenging the Core of Vietnamese Motivations Very fast changes in every aspect of life, most excited / most heady / most naive Home bound with chores, looking at the changes from the outside Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn Born free growing with wings outspread, Too fast? Too early? Changing the most At work but also what he can expect from home changing radically

37. 37 It’s Just A Chain Reaction – Changing Values Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn Family Mum Dad Family Family Paralysis 65% not even hanging out with family once a week!

38. 38 Not All Upbeat About Changing Society Least Upbeat Very few Young Adults Many Pre-teens Many Teenagers Many Young Adults Especially women Many adult men Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn Confused Most Upbeat Few Teenagers Few Pre-teens Many Older Housewives Some Older Housewives Pre-teens from broken homes Confident

39. Young adults disappointed and frustrated with perceived failure 39 Consumer Paralysis At Failure to Self Acutualise Great expectations but not delivered Parents are at home less and less for family Adults feel confused by lack of awareness and knowledge – Men struggling with greater equality – Women desperate for recognition and self worth to self-actualise Teenagers live through ‘screens’ and have no role models Pre-teens desperate for parental attention and affection Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

40. 40 Preteen Seek Attention and Affection: 11 Year Old in Hanoi “I wish we could spend more time together as a family. Either my mother or my father or both are never there” Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

41. Brands Offer Solutions Coping Strategies Young adults disappointed and frustrated with perceived failure 41 Consumer Paralysis At Failure to Self Acutualise Great expectations but not delivered Parents are at home less and less for family Adults feel confused by lack of awareness and knowledge – Men struggling with greater equality – Women desperate for recognition and self worth to self-actualise Teenagers live through ‘screens’ and have no role models Pre-teens desperate for parental attention and affection Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

42. 42 The Family Nguyen - How This Shapes Who We Are Youth translate the consumer world for their parents Progressive Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn and entrepreneurial Happiness is money Confused and Desperate to frustrated express myself Thirst for edutainment Success is imbued in pride Success through the eyes of my child Afflunenza

43. Unlocking Mrs Nguyen’s Mind and Purse How We Can Leverage This?

44. 44 The Family Nguyen - How This Shapes Who We Are Youth translate the consumer world for their parents Progressive Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn and entrepreneurial Happiness is money Confused and Desperate to frustrated express myself Thirst for edutainment Success is imbued in pride Success through the eyes of my child Brands Offer Solutions Coping Strategies

45. 45 Guiding Consumer Progress Father as role model: spending time with Strong and sensitive male character, not afraid to give a woman more than what he gets in return Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn his kids Guidance for coping with demands of work and progress at home Encouraging parental emotional displays of affection

46. Too fast for me to catch up Too complicated to understand Too busy to understand Too little time to earn money 46 Closing the Generation Gap! No role models Confused parenting Different value appreciation Influence from peer group Rebuilding Bridges The Young Ones The Old Ones Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

47. 47 Guiding Consumer Progress Interactive guidance and entertainment An older sibling setting an example of being ‘with it’ in today’s world Women crave self worth; need to be shown the modern way to be giving without losing their own identity. Men need to be shown the modern way to be strong - traits such as flexibility, sensitivity, understanding yet very successful Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

48. Xin Cam On Download your copy at www.cimigo.vn

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