Shoppers at a Co-op supermarket in HCM City. — VNA/VNS Photo
PwC's 2024 Asia-Pacific Consumer Insights Survey reveals that 63 per cent of Vietnamese consumers intend to increase spending on essential goods over the next year, followed by 52 per cent on clothing and 48 per cent on healthcare products.
The survey, which gathered responses from over 7,000 consumers in the region, including 515 from Vietnam, also indicated that inflation is the top concern for a majority (63 per cent) of Vietnamese consumers for the coming year.
Consumers are willing to stay loyal only to brands they genuinely trust, making it essential for businesses to foster trust across all aspects and build lasting relationships with customers.
Vietnam leads the region in online shopping, with 67 per cent of purchases made via mobile phones and 44 per cent through personal computers, although in-store shopping remains high at 63 per cent. Vietnamese consumers are actively embracing social media platforms to discover new brands and read reviews before purchasing, with 71 per cent having made purchases through these platforms—significantly higher than the regional average of 56 per cent.
However, concerns about safety and reliability have somewhat dampened consumer trust in social media for shopping, following some negative experiences.
Sustainability is becoming a priority in Vietnamese consumer habits, with 94 per cent reporting experiencing the negative effects of climate change in their daily lives (compared to 88 per cent regionally). Notably, 74 per cent of Vietnamese consumers expressed willingness to pay up to 20 per cent more for products made from recycled or sustainable materials and 85 per cent would consider purchasing a hybrid or electric vehicle within the next three years.
The survey also revealed that Vietnamese consumers are relatively open to using artificial intelligence (AI) in low-risk activities but still prefer human interaction for complex transactions. Specifically, 69 per cent said AI could assist in gathering product information, followed by providing product recommendations (63 per cent) and supporting customer service (59 per cent).
These global trends in technology and sustainability are offering practical opportunities for businesses to connect more deeply with consumers and drive sustainable growth. — VNS
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