Vietnamese consumers increasingly tech-savvy: Nielsen
Connected spenders are a fast-growing new segment of consumers (Source: dantri.com.vn)
Vietnam is home to a
growing number of tech-savvy “connected consumers” that global corporations
will increasingly seek to court, according to a study conducted by Nielsen in cooperation
with Demand Institute.
The study found that companies looking for
growth opportunities are increasingly unable to target the traditional middle
class, whose incomes have grown sluggishly in recent years. Instead, they may
turn to “a new emerging type of consumer,” said Rakesh Dayal, executive
director of Consumer Insights, Nielsen Vietnam.
“Connected spenders are a fast-growing new
segment of consumers: digitally savvy consumers with discretionary income and
are avid shoppers who punch above their income class in spending,” the director
said. “Our research shows that Vietnamese connected spenders will spend 800
billion USD over the next decade. Therefore, for consumer-facing businesses
seeking to grow in Vietnam, these are the consumers whose needs will need to be
There were 23 million connected spenders in
Vietnam in 2015, according to Nielsen Vietnam’s latest study, and that sum is
expected to grow nearly double to reach 40 million people in 2025. Their
spending will rise from 50 billion USD annually in 2015 to 99 billion USD by
Connected spenders span a range of ages and
Around one-third of Vietnamese connected
spenders are between the ages of 21 and 34 (34 percent), the report showed.
Over three-quarters of the consumers within the
higher income bracket are connected spenders, while nearly two-thirds of
middle-income Vietnamese are connected spenders. In the lower income bracket,
43 percent fall into the category.
Connected spenders tend to be confident in the
future: The Nielsen Confidence Consumer Index revealed that in 2015, connected
spenders had a consumer confidence score of 117, versus 99 for other Internet