The Changing Vietnamese Consumer Landscape

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.

Traditions and Modernity – Striking The Balance

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?

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

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

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
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

The Family Nguyen
How This Shapes Who We Are

9
The Family Nguyen in Conflict
Copyright © 2010 Cimigo Download this presentation for free: www.cimigo.vn

10
The Family Nguyen - How This Shapes Who We Are
Youth
translate the
consumer
world for their
parents
Progressive
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

11
Youth
translate the
consumer
world for their
parents
Progressive
and
entrepreneurial
Happiness is
money
Confused and
express
myself
Thirst for
edutainment
Success is
imbued in
pride
Success
through the
eyes of my
child

12
Core Ethos – Keeping Up With The Nguyen’s
Hope to be very
successful in the
shortest time
possible!

13
Everyone Wants to Be Their Own Boss - Big Or Small!

14
Everyone Is So Busy Getting Ahead

15
Youth
translate the
consumer
world for their
parents
Progressive
and
entrepreneurial
Happiness is
money
Confused and
express
myself
Thirst for
edutainment
Success is
imbued in
pride
Success
through the
eyes of my
child

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.

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

18
Youth
translate the
consumer
world for their
parents
Progressive
and
entrepreneurial
Happiness is
money
Confused and
express
myself
Thirst for
edutainment
Success is
imbued in
pride
Success
through the
eyes of my
child

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

20
My Face : My Home - Demonstrates Purchase Priorities

21
Youth
translate the
consumer
world for their
parents
Progressive
and
entrepreneurial
Happiness is
money
Confused and
express
myself
Thirst for
edutainment
Success is
imbued in
pride
Success
through the
eyes of my
child

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

23
Youth
translate the
consumer
world for their
parents
Progressive
and
entrepreneurial
Happiness is
money
Confused and
express
myself
Thirst for
edutainment
Success is
imbued in
pride
Success
through the
eyes of my
child

24
The Nguyen’s Live in Two Worlds Today
Traditional rural Vietnam Modern Asia

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.

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

27
Youth
translate the
consumer
world for their
parents
Progressive
and
entrepreneurial
Happiness is
money
Confused and
express
myself
Thirst for
edutainment
Success is
imbued in
pride
Success
through the
eyes of my
child

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.

29
Online Explosion

30
Youth
translate the
consumer
world for their
parents
Progressive
and
entrepreneurial
Happiness is
money
Confused and
express
myself
Thirst for
edutainment
Success is
imbued in
pride
Success
through the
eyes of my
child

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

32
Today’s Medium For Self Expression - Blogs
Source: NetCitizens down load at www.cimigo.vn

33
Youth
translate the
consumer
world for their
parents
Progressive
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
Increasingly Aware of What Could Be……
Increasing
opportunities
(Commercial
education) for women
Always out of home /
hardly stay in home
Thirst for
Edutainment
Increasing
opportunity for
outbound travel
More socializing out
of home, drinking,
café, etc
More international
standard education

Happiness defined as
35
Heaviest Toll on Family – Conflict With Traditional Values
From community to
individual needs’’
From extended to
nuclear families
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
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
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
It’s Just A Chain Reaction – Changing Values
Family
Mum
Dad
Family
Family
Paralysis
65% not even
hanging out
with family
once a week!

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
Confused
Most Upbeat
Few Teenagers
Few Pre-teens
Many Older Housewives
Some Older
Housewives
Pre-teens
from broken
homes
Confident

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

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”

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

42
Youth
translate the
consumer
world for their
parents
Progressive
and
entrepreneurial
Happiness is
money
Confused and
express
myself
Thirst for
edutainment
Success is
imbued in
pride
Success
through the
eyes of my
child
Afflunenza

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

44
Youth
translate the
consumer
world for their
parents
Progressive
and
entrepreneurial
Happiness is
money
Confused and
express
myself
Thirst for
edutainment
Success is
imbued in
pride
Success
through the
eyes of my
child
Brands Offer Solutions
Coping Strategies

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
his kids
Guidance for coping
with demands of work
and progress at home
Encouraging parental
emotional displays of
affection

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

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

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

The Changing Vietnamese Consumer Landscape

Recomendados

Recomendados

Mais conteúdo relacionado

Mais procurados

Mais procurados (14)

Destaque

Destaque (7)

Semelhante a The Changing Vietnamese Consumer Landscape

Semelhante a The Changing Vietnamese Consumer Landscape (20)

Mais de Quynh LE

Mais de Quynh LE (20)

Último

Último (20)

The Changing Vietnamese Consumer Landscape