Vietnam needs balanced approach

24 July 2012

HO CHI MINH CITY: Marketers seeking to engage young consumers in Vietnam will need to strike the right balance between traditional values and a desire to tap new trends, a study has revealed.

Y&R Vietnam, the agency, polled over 1,400 people in the 18–35 year old demographic, and discovered 83% were ambitious, while two-thirds proved optimistic about becoming affluent.

A further 74%, however, agreed established family values remained in place despite the fast pace of GDP growth being experienced in the country, which is one of the "Next 11" group of highly promising emerging markets.

Moreover, 73% of those polled stated that happiness trumped money in terms of its level of importance, and 72% regarded marriage as only being worthwhile if it was fulfilling.

"Born into rapid economic growth, they are a generation filled with optimism about their presence and future and firmly believe their lives are far better than their parents', and they are confident they will achieve great personal wealth and do not feel daunted by any of the obstacles on the path to success," Matthew Collier, CEO of Y&R, said.

Most of the panel also took an active interest in their health and fitness, and 83% emphasised "being calm and happy" as a major way to stay in good condition.

When discussing the concept of beauty, 80% of female participants preferred brands made from natural rather than chemical ingredients.

A 68% share of men also wanted skin that was smooth and did not have wrinkles, and were prepared to utilise skincare products to attain these results.

Elsewhere, in the technology sector, 75% of interviewees were willing to pay a premium in order to buy "cutting edge" or "top quality" devices.

Turning to education, 83% of the sample thought colleges should focus on equipping them with practical skills for the employment market, not just theory.

Data sourced from Vietnam News; additional content by Warc staff