Brands eyeing a slice of Vietnam’s growing consumer market will need to ensure they have a strong mobile strategy in place to leverage the spike in spending during the lead up to Tet.
Tet, the Vietnamese New Year, is one of the most important occasions in the country, with shopping in preparation for the five-day holiday kicking off weeks prior to celebration. And online shopping is playing an increasingly important role: the recent SEA e-Conomy report noted that Vietnam is emerging as the most digital of all economies in the region.
The country’s internet economy is expected to hit US$12bn in 2019 on a 38% annualised growth rate since 2015; e-commerce is a key driver behind the impressive numbers, where homegrown marketplaces like Sendo and Tiki compete with regional players like Lazada and Shopee.
For consumers navigating this online world, mobile phones have become the primary device used to discover new brands, according to a study by AdColony, which surveyed 150 Vietnamese consumers online, regarding their shopping and mobile gaming preferences, particularly during the Tet holiday.
Mobile usage trends are running in tandem with a rise in mobile gaming, and mobile gamers are also one of the biggest spending segments, with 71% of mobile gamers surveyed stating that they expect to spend more than VND 5m while 60% of non-mobile gamers plan to spend less than VND 5m (US$ 215).
Female shoppers are the most likely to be high spenders as 60% plan to budget VND 5-10m (US$215 – US$431). Vietnamese mothers are also very digitally savvy – 93% of moms play mobile games for at least two hours a week and are the most active during the afternoon. The report also highlighted their preference for personal care and cosmetic products and buying them online.
Other highlights from the study include:
- Brand matters: When it comes to products that cost more than VND 3m (US$129), 46% of respondents said the most important criteria is brand. The second most important factor (38%) is durability.
- Consumers discover brands on mobile devices: Most of the respondents stated that their mobile phone is the primary device used to discover new brands. Additionally, female users said they trusted digital media more than traditional media.
- Millennials spend the most time on mobile gaming: The best time to target millennials while playing games is at night between 8:00pm and 12:00am.
- Consumers love to give and receive personal care: When it comes to buying a gift for a spouse, most shoppers like to give personal care items. Personal care is also the top category for self-gifting.
Sourced from AdColony; additional content by WARC staff