On April 19th, Cimigo hosted a consumer marketing science seminar on Vietnam Consumer Trends 2019 at the Dreamplex Ampitheater in HCMC. The event connected marketing professionals to keep them abreast of the constraints and opportunities in 2019. The seminar attracted 120 professionals to hear Cimigo’s top market researchers share the major trends of Vietnamese consumers.
5 minute read
The first session of the Vietnam Consumer Marketing Science Seminar began with Mr. Richard Burrage, Managing Director of Cimigo addressing the constraints on the growth of consumer packaged goods (CPG) in Vietnam. He addressed reasons related to key constraints of the decelerating birth rate, smarter consumers challenging lacklustre brand innovations, food safety challenging customer’s trust, the overwhelming choice paradox and consumers valuing experiences over tangible goods. Each constraint is inferred from Cimigo’s market research, highlighting not only the gaps that the business can address, but also the potential for future growth and additional revenue.
The next Vietnam Consumer Marketing Science Seminar session illustrated the online shopping boom in Vietnam associated with changing consumer behaviour. Cimigo focused on 7 aspects from current the e-commerce situation and how online shoppers made their final buying decision. Ms. Thuong La, Director and Ms. Giang Dao, Brand Consultant at Cimigo concluded that consumer “trust has been built”, with Vietnamese consumers now much more confident to shop online and the next stage would be a dramatic rise in transaction values (basket size).
E-payment, e-wallet and the future scenarios of payment was presented by Mr. Binh Dong, Director. Bank mobile applications have followed the leading-edge e-wallets, becoming direct competitors. E-wallets deliver a better net promoter score and customer experience including promotions.
The strategic scenarios are many, with the audience overwhelming believing that e-wallets will become a marketing and distribution channel for banks .
Richard Burrage concluded the opportunities presents by Vietnam consumer trends, highlighting the opportunities in rapid urbanization, global trade network, increasing intra Asia trade and investment to Vietnam, the diversity and productivity of working population, the tipping point in middle class acceleration, Vietnamese booming internet economy and forecasting that online shopping will surpass modern trade and the extraordinary rise in consumer finance.
It was an excellent opportunity to garner insights into consumer trends and look at the implications to future proof business strategies. There surely be more Vietnam Consumer Marketing Science Seminars in the future. If you’re interested in more insights, please email@example.com