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A free report from Cimigo market research on Vietnam Consumer Trends report 2024. Cimigo assesses the consumer trends and expectations for 2024 in Vietnam. Discover the economic, social and consumer trends in Vietnam.
Vietnam consumer trends report 2024
The Vietnam consumer trends report 2024 explores the eight reasons that Vietnam will prosper in the next decade.
Vietnam’s long-term outlook
Vietnam is poised for continued economic growth, driven by FDI, a youthful workforce, and an expanding digital economy. However, businesses must navigate a challenging consumer landscape, where demand remains muted, and price sensitivity is high. As Vietnam transitions into a more affluent, digitalised society, companies that adapt to these trends will be well-positioned for success.
The number one enabler for Vietnam’s economic success primarily has been the structure of its working population and its youth therein and the high labour participation of women, providing a low dependency ratio. Vietnam has gone through a decade with average GDP growth of 6%. Vietnam has strong domestic consumer demand and Cimgio expects these levels of economic growth to be maintained over the next decade.
The change will come in 2036 as the population structure changes The economic challenge lies in moving from a lower-middle to an upper-middle-income country as these population changes take hold.
Vietnam consumer trends 2024
Vietnam will stand out as a high-growth economy over the next ten years. These are the key eight reasons why Vietnam will continue to prosper over the next decade and growth will be the strongest in Asia and across most of the world.
The Vietnam consumer trends 2024 presentation explores the eight reasons that Vietnam will prosper in the next decade.
- GDP growth averaged 5.8% over the past ten years.
- More sophisticated production. Increased FDI and exports. Global interconnectivity.
- Domestic tourism thrives and international recovers.
- Consumer retail demand challenges and recovery.
- Rising household affluence.
- Financial inclusion and digital payments.
- Growth of the digital economy, now at US$30 billion.
- Working age population, high labour participation and a low dependency ratio.
End.
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Minh Thu - Consumer Market Insights Manager
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Travis Mitchell - Executive Director
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Malcolm Farmer - Managing Director
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Hy Vu - Head of Research Department
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Joe Nelson - New Zealand Consulate General
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Steve Kretschmer - Executive Director
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York Spencer - Global Marketing Director
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Laura Baines - Programmes Snr Manager
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Mai Trang - Brand Manager of Romano
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Hanh Dang - Product Marketing Manager
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Luan Nguyen - Market Research Team Leader
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Max Lee - Project Manager
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Chris Elkin - Founder
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Ronald Reagan - Deputy Group Head After Sales & CS Operation
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Chad Ovel - Partner
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Private English Language Schools - Chief Executive Officer
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Rick Reid - Creative Director
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Janine Katzberg - Projects Director
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Anya Nipper - Project Coordination Director
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Dr. Jean-Marcel Guillon - Chief Executive Officer
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Joyce - Pricing Manager
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Matt Thwaites - Commercial Director
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Aashish Kapoor - Head of Marketing
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Kelly Vo - Founder & Host
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Thanyachat Auttanukune - Board of Management
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Hamish Glendinning - Business Lead
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Thuy Le - Consumer Insight Manager
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Richard Willis - Director
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Ha Dinh - Project Lead
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Geert Heestermans - Marketing Director
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Louise Knox - Consumer Technical Insights
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Aimee Shear - Senior Research Executive
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Dennis Kurnia - Head of Consumer Insights
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Tania Desela - Senior Product Manager
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Thu Phung - CTI Manager
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Linda Yeoh - CMI Manager
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Cimigo’s market research team in Vietnam and Indonesia love to help you make better choices.
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Cimigo provides market research solutions in Vietnam and Indonesia that will help you make better choices.
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Cimigo provides a range of consumer marketing trends and market research on market sectors and consumer segments in Vietnam and Indonesia.
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Cimigo provides a range of free market research reports on market sectors and consumer segments in Vietnam and Indonesia.