[hand outs] Megatrends _ in _Vietnam.pdf

mega trends in VN

1. MEGATRENDS IN VIETNAM
October 2021

2. © EuromonitorInternational PASSPORT 2LIFESTYLES: MEGATRENDS IN VIETNAM
▪There are five socioeconomic drivers generating and shaping
consumer megatrends. These long-term shifts explain the
ongoing changes we see in consumer behaviour.
▪Shifting Economic Power: Emerging market economies have
seen strong growth at a time when growth in advanced
economies has faced headwinds.
▪Population Change: Trends such as urbanisation, migration
and ageing are combining to reshape consumer lifestyles
and purchasing decisions.
▪Environmental Shifts and Pressures: Competition for
resources and increasing awareness of environmental
challenges are having a transformative effect on consumer
behaviour –sometimes at a rapid pace.
▪Technology plays a pivotal role in consumer decision-
making and the ability of business to meet the needs of
today's consumer. It has created upheavals in consumer
expectations, lowered the barriers of entry and inspired
new business models.
▪Changing Values: Hyperconnectivity is giving individuals
access to more information than ever before, educating
them on evolving social, cultural and political landscapes.
The drivers shaping consumer behaviour
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

3. © EuromonitorInternational PASSPORT 3LIFESTYLES: MEGATRENDS IN VIETNAM
▪Megatrends reportsprovide insight into the eight megatrends identified as being the most important cross-
industry trends that businesses should be focused on during the next 10-15 years. Megatrend analysis helps
companies understand these important market trends, enabling them to assess future impact and proactively
build relevant forward-thinking strategies. This report provides an overview of how these most influential
megatrends are impacting Vietnam.
Megatrends framework
MEGATRENDS IN VIETNAM

4. © EuromonitorInternational PASSPORT 4LIFESTYLES: MEGATRENDS IN VIETNAM
▪Innovative and disruptive companies that understand the drivers shaping the world and the resulting
megatrends use this to execute change from renovation, where a company improves on previous ideas to
increase market share, through to innovation, where a company grows an entire category, and ultimately
disruption, creating new markets where there were none before. Case studies in this report highlight examples
of companies’ responses to megatrends.
Businesses harness megatrends to renovate, innovate and disrupt
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

5. Consumers use a variety of internet-connected devices in order to experience and
interact with digital content and access services. This is set to grow, with
penetration of both the devices themselves and connected infrastructure spreading
across countries and generations of consumers. This expansion in the breadth and
depth of connectivity will continue to change the way consumers live, work, shop
and play, supplying consumers with the benefits of convenience, simplicity and
knowledge across their digital lives.
Digital Living

6. © EuromonitorInternational PASSPORT 6LIFESTYLES: MEGATRENDS IN VIETNAM
Digital living
MEGATRENDS IN VIETNAM
Consumers in Vietnam are tech-savvy, with 82% of our survey respondents saying they use
technology to improve their daily lives. Patchy broadband access means the urban population
is highly mobile-centric. Notably, 34% (compared to just 22% globally) own a smartwatch.
Having become more reliant on digital devices during the pandemic, 56% of respondents
(versus 39% globally) now say they prefer to communicate online rather than in person. A
substantial 92% use their phones to access social media, and 74% use messaging apps at least
weekly.
The pandemic also spurred greater use of e-payments. 55% of respondents (including 64% of
Millennials) say they make in-store mobile payments at least weekly, and 43% (versus 31%
globally) compare prices while in-store at least weekly.
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Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

7. © EuromonitorInternational PASSPORT 7LIFESTYLES: MEGATRENDS IN VIETNAM
▪Vietnam’s leading messaging app, Zalo, announced
the launch of the country’s first AI-based virtual
assistant –Kiki –in January 2021.
▪The app is designed specifically for the
Vietnamese language and Vietnamese needs,
including recognising accents from northern,
southern and central provinces.
▪Users can access Kiki through the Zalo app in cars,
with smart speakers or on any other digital advice,
as well as via the Zing music app (also owned by
Zalo).
Key takeaways
▪The use of AI technology is growing rapidly in
Vietnam, as more people own digital devices and
are looking for ways to make their lives easier.
▪Products adapted to Vietnamese culture, including
the lunar calendar and local language, offer a
significant advantage over standard international
virtual assistants.
Zalo launches Vietnam’s first AI-based virtual assistant
MEGATRENDS IN VIETNAM
82% of consumers use technology to improve
their day-to-day lives

8. © EuromonitorInternational PASSPORT 8LIFESTYLES: MEGATRENDS IN VIETNAM
Consumers are relying on apps for a plethora of activities
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

9. © EuromonitorInternational PASSPORT 9LIFESTYLES: MEGATRENDS IN VIETNAM
Millennials are the most prolific gamers
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

10. © EuromonitorInternational PASSPORT 10LIFESTYLES: MEGATRENDS IN VIETNAM
Almost three quarters of consumers actively manage data settings
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

11. © EuromonitorInternational PASSPORT 11LIFESTYLES: MEGATRENDS IN VIETNAM
Millennials are the most willing to share data in exchange for offers
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

12. © EuromonitorInternational PASSPORT 12LIFESTYLES: MEGATRENDS IN VIETNAM
Friends and family remain the most trusted sources of information
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

13. © EuromonitorInternational PASSPORT 13LIFESTYLES: MEGATRENDS IN VIETNAM
Return to face-to-face activities expected post-pandemic
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

14. This is characterised by prioritising experiences over things, where consumers
engage directly with a product/service, and in return they receive an enhanced and
unique interaction with the brand. Consumers are seeking out authentic,
personalised experiences to suit their individual tastes, preferences and lifestyles.
Appealing to the senses and using technology as an enabler, brands strive to
provide a value-added experience.
Experience More

15. © EuromonitorInternational PASSPORT 15LIFESTYLES: MEGATRENDS IN VIETNAM
Experience more
MEGATRENDS IN VIETNAM
Prior to the surge in COVID-19 cases and new lockdowns imposed from mid-2021,
Vietnamese consumers were still enjoying a relatively free lifestyle. Day trips are very popular,
with 56% of our survey respondents (compared to just 28% globally) saying they go on them
at least monthly.
Shopping is a favourite pastime in Vietnam. 41% of respondents say they like to visit malls,
and a substantial 71% (versus 54% globally) shop in stores that create engaging experiences.
37% (compared to 22% globally) pick their travel destinations based on the calibre of
shopping there.
In line with rising use of digital devices, consumers have increased their consumption of
streamed content. Indeed, 32% of respondents now say they prefer virtual to real world
experiences. 86% (versus 74% globally) watch TV/video and 64% play games on their phones
at least weekly.
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Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

16. © EuromonitorInternational PASSPORT 16LIFESTYLES: MEGATRENDS IN VIETNAM
▪In July 2021, the Singaporean cloud streaming
karaoke start-up Popsical (owned by Charaku)
announced that it was planning to launch in Vietnam
in September after being granted a licence by the
Vietnam Centre for Protection of Music Copyright
(VCPMC).
▪Popsical’s devices stream over 230,000 karaoke
tracks in 14 languages, which consumers can sing
along to using on-screen lyrics.
Key takeaways
▪Karaoke parlours are a major part of mainstream
culture in Vietnam and in the wider Asia region.
▪With locked-down consumers shifting towards
digital entertainment, karaoke streaming services
like Popsical offer significant growth potential and
will appeal to consumers of all ages.
Karaoke streaming service Popsical poised for Vietnam launch
MEGATRENDS IN VIETNAM
51% of consumers stream music online at least weekly

17. © EuromonitorInternational PASSPORT 17LIFESTYLES: MEGATRENDS IN VIETNAM
Real world experiences are still the most appreciated
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

18. © EuromonitorInternational PASSPORT 18LIFESTYLES: MEGATRENDS IN VIETNAM
Gen X are most likely to seek tailored experiences
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

19. © EuromonitorInternational PASSPORT 19LIFESTYLES: MEGATRENDS IN VIETNAM
Online socialising has become the norm amid the pandemic
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

20. © EuromonitorInternational PASSPORT 20LIFESTYLES: MEGATRENDS IN VIETNAM
Travellers look for safety and relaxation
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

21. © EuromonitorInternational PASSPORT 21LIFESTYLES: MEGATRENDS IN VIETNAM
Gen X are the most eager to resume face-to-face activities
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

22. As the middle classes in developed markets struggle to maintain the economic
position they enjoyed for the last half a century, they have adopted many cautious
habits to maximise value for money and stretch their limited resources. These
include prioritising access over ownership, bargain hunting, and trading down in
order to trade up. Elsewhere, in emerging and developing economies, the middle
class continues to expand and enjoys rising incomes; however, their priorities and
habits are not dissimilar to those of their counterparts in developed markets, as
consumers increasingly shift away from wasteful, conspicuous consumption
towards more selective and conscious spending.
Middle Class Reset

23. © EuromonitorInternational PASSPORT 23LIFESTYLES: MEGATRENDS IN VIETNAM
Middle class reset
MEGATRENDS IN VIETNAM
Supported by Vietnam’s rapid economic growth, a growing middle class consumer base has
driven demand for a range of discretionary products and services. As many as two thirds of
our survey respondents (66%, compared to 51% globally) say they will be better off
financially in future.
Status is important to middle class consumers. 58% of our survey respondents (compared
with 43% of their global counterparts) deem it important for other people to think they are
doing well, and 41% say you can tell a lot about a person from the car they drive.
Nonetheless, the impact of the pandemic on jobs and income has made consumers more
cautious and they are looking for ways to maintain their current lifestyles whilst curbing costs.
50% of respondents (versus 38% globally) say they would rather buy fewer but higher quality
things.
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Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

24. © EuromonitorInternational PASSPORT 24LIFESTYLES: MEGATRENDS IN VIETNAM
▪Marque Luxury, a US-based pre-owned luxury
brands company, opened a physical store in Ho Chi
Minh City in June 2021.
▪The branch is the company’s seventh in the world
and the first in Vietnam. It is operating in affiliation
with Nanboya, a leading Japanese company in the
pre-owned space.
▪Through its stores and website, Marque offers an
expansive range of items from leading luxury brands,
including Chanel, Louis Vuitton and Gucci.
Key takeaways
▪The luxury goods market in Vietnam has been driven
by the country’s growing population of relatively
affluent middle-class consumers.
▪The resale market is attractive to consumers of
luxury brands who are seeking to maintain their
status while reducing their outgoings.
▪Pre-owned goods also appeal to a growing number
of consumers wishing to support the circular
economy.
Pre-owned luxury goods retailer Marque Luxury opens Vietnam store
MEGATRENDS IN VIETNAM
55% of consumers buy pre-owned items at least annually

25. © EuromonitorInternational PASSPORT 25LIFESTYLES: MEGATRENDS IN VIETNAM
Half of consumers would rather buy fewer but higher quality items
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

26. © EuromonitorInternational PASSPORT 26LIFESTYLES: MEGATRENDS IN VIETNAM
Baby Boomers are the biggest bargain hunters
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

27. © EuromonitorInternational PASSPORT 27LIFESTYLES: MEGATRENDS IN VIETNAM
The concept of repurposing is gaining traction
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

28. © EuromonitorInternational PASSPORT 28LIFESTYLES: MEGATRENDS IN VIETNAM
Millennials are the most likely to be planning more visits to discounters
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

29. Slowing volume growth has led brands to seek new ways to drive value expansion.
Concentration of wealth and income has created new demand for high-end
offerings. Consumers everywhere demand more choices and more tiers –from
discount and mass to “masstige,” luxury and beyond –allowing them to spend more
on what matters most. Global mass brands are giving way to niche brands and
personal “brand portfolios”, as consumers at all income levels seek products,
services and experiences which reflect their personal identity.
Premiumisation

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Premiumisation
MEGATRENDS IN VIETNAM
Vietnam’s newly affluent consumers are driving a growing market for premium goods and
services, and appreciate new products with value-added features. According to our survey,
33% of Gen X (compared to 20% of their global counterparts) seek niche brands that are hard
to find or unique.
Consumers enjoy products that offer a greater level of convenience, personalisation and
ethical credentials. As many as 71% of Vietnamese respondents (versus 57% globally) say
they extensively research the products they consume, and 64% are willing to spend money to
save time.
Quality plays a major part in purchasing decisions. Indeed, 51% of respondents (compared to
35% globally) say they are willing to pay more for high quality when buying clothing and
accessories. In terms of food and drink, 34% are influenced by strong brands and 44% by
“100% organic” claims.
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Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

31. © EuromonitorInternational PASSPORT 31LIFESTYLES: MEGATRENDS IN VIETNAM
▪Craft beer curator BiaCraft Artisan Ales opened its
fourth location in April 2021. The outlet, in Ho Chi
Minh City, provides 250 seating over two floors, each
with its own 30-tap bar and terrace.
▪BiaCraft claims to offer Vietnam’s most extensive
collection of craft beers –both locally brewed and
imported. To celebrate the opening of the new outlet,
the company launched two premium craft beers in
collaboration with microbreweries Hoprizon
Brewing Company and Heart of Darkness Brewery.
Key takeaways
▪On-trade beer sales have been impacted since 2020
by strict new drink-driving laws and the COVID-19
outbreak, with all bars in Vietnam remaining closed
as of September 2021.
▪Nevertheless, craft beer is a highly promising sector
that will continue to attract new players.
▪The market will be driven by a new generation of
young, urban consumers keen to sample high-quality,
premium offerings in a fun environment.
BiaCraft Artisan Ales opens new craft beer destination
MEGATRENDS IN VIETNAM
Consumption of lager in Vietnam is forecast to grow by 26% over 2020-2025

32. © EuromonitorInternational PASSPORT 32LIFESTYLES: MEGATRENDS IN VIETNAM
Most Vietnamese yearn for a simpler life
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

33. © EuromonitorInternational PASSPORT 33LIFESTYLES: MEGATRENDS IN VIETNAM
Gen X are the most willing to spend money to save time
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

34. © EuromonitorInternational PASSPORT 34LIFESTYLES: MEGATRENDS IN VIETNAM
Consumers are generally confident in the value of their investments
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

35. © EuromonitorInternational PASSPORT 35LIFESTYLES: MEGATRENDS IN VIETNAM
Quality trumps value for money in home care and clothing
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

36. As some areas of the globe become over-farmed, over-populated, or otherwise
reach their maximum potential, others are gaining prominence for their
unexploited potential. Emerging and developing countries will account for two
thirds of global GDP by 2030. As a result, companies are expanding their horizons
and looking for opportunities in Africa, China’s second tier cities and even the
Arctic and space.
Shifting Market Frontiers

37. © EuromonitorInternational PASSPORT 37LIFESTYLES: MEGATRENDS IN VIETNAM
Shifting market frontiers
MEGATRENDS IN VIETNAM
In recent years, international brands have flocked to Vietnam eager to take advantage of its
large and youthful population, growing economy and rising incomes. Indeed, 78% of the
respondents in our survey say international products are more readily available than they
were five years ago.
As many as 72% of Vietnamese respondents say it is important to experience cultures
other than their own, and 44% (compared with just 29% globally) say they buy products
online from international retailers that are not available in Vietnam.
As in other countries there has been a movement to support local businesses amid the
pandemic, many of which have suffered from the fall-off of tourism. More than a third (34%)
of respondents (compared to 28% globally) say they try to purchase locally-sourced products
and services.
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Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

38. © EuromonitorInternational PASSPORT 38LIFESTYLES: MEGATRENDS IN VIETNAM
▪Amazon has been carrying out a major drive to recruit
Vietnamese small and medium sized businesses to its
platform to encourage cross-border selling.
▪In December 2020, the company announced the
launch of a new “seller centre” in Vietnamese, as well
as a dedicated global support team to provide local
support to merchants looking to sell their products via
the Amazon marketplace.
▪Since August 2021, sellers have also been able to
register for a sales account using documents and
records in Vietnamese without the need for
translation.
Key takeaways
▪Cross-border e-commerce is currently in its infancy in
Vietnam and offers significant scope for growth. Until
recently, cultural and language barriers, as well as
complex regulations, have held many smaller
companies back from exporting their products.
▪Platforms such as Amazon and Alibaba will continue to
increase their support for Vietnamese businesses to
enable them to reach out to international customers.
Amazon facilitates cross-border selling for Vietnamese businesses
MEGATRENDS IN VIETNAM
Spending on e-commerce in Vietnam increased
by 277% over 2015-2020

39. © EuromonitorInternational PASSPORT 39LIFESTYLES: MEGATRENDS IN VIETNAM
Consumers are curious about international products and cultures
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

40. © EuromonitorInternational PASSPORT 40LIFESTYLES: MEGATRENDS IN VIETNAM
A quarter of Gen Z plan to work abroad
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

41. © EuromonitorInternational PASSPORT 41LIFESTYLES: MEGATRENDS IN VIETNAM
Gen X are the most focused on buying local products
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

42. How we buy goods and services is constantly in flux, as economic and technological
realities shift. Consumers are now making purchases across multiple platforms,
and want to engage with merchants at any time and anywhere. The ideal customer
journey weaves a brand into the entire experience, providing value before, during
and after the purchase, converting a transaction into a relationship.
Shopping Reinvented

43. © EuromonitorInternational PASSPORT 43LIFESTYLES: MEGATRENDS IN VIETNAM
Shopping reinvented
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021
Urban consumers enjoy shopping and have maintained a strong mall culture throughout the
pandemic. Our survey shows that 56% of respondents say they go shopping for leisure at least
weekly, while 37% choose their travel destinations based on the quality of shopping there.
Online shopping (especially via mobile devices) has boomed since the start of the pandemic:
54% of respondents (compared to 32% globally) say they buy an item or service via their
phones at least weekly, and 65% buy groceries online at least monthly.
With social media engagement very high in Vietnam, social shopping is also on the rise: 46%
of consumers (compared to just 24% of their global counterparts) say they buy things from
social media platforms, while 40% receive product discounts for referring people via social
media.
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44. © EuromonitorInternational PASSPORT 44LIFESTYLES: MEGATRENDS IN VIETNAM
▪Vietnamese on-demand delivery app Loship has
grown rapidly during the pandemic and secured an
additional USD12 million in funding in August 2021
to enable it to expand into new cities.
▪Founded in 2017, Loship offers free, one-hour
deliveries for a large range of products and services,
including food, ride-hailing and pharmacy. The
company now has some 200,000 retail partners and
serves around two million customers in Hanoi, Ho
Chi Minh City, Da Nang, Can Tho and Bien Hoa.
Key takeaways
▪There is still massive potential for growth in on-
demand delivery services in Vietnam, where e-
commerce demand has soared amid the latest
lockdowns.
▪Nevertheless, competition is fierce. Loship claims
that being a home-grown platform with a deep
knowledge of its local markets gives it an advantage
over larger competitors like Grab and Gojek, which it
hopes will enable it to expand into lower tier cities.
Local on-demand delivery app Loship set for expansion
MEGATRENDS IN VIETNAM
52% of consumers order food and drink online for
takeaway or home delivery via a phone at least
weekly

45. © EuromonitorInternational PASSPORT 45LIFESTYLES: MEGATRENDS IN VIETNAM
Smartphones are now the shopping channel of choice for most items
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

46. © EuromonitorInternational PASSPORT 46LIFESTYLES: MEGATRENDS IN VIETNAM
Shoppers enjoy engaging with companies via social media
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

47. © EuromonitorInternational PASSPORT 47LIFESTYLES: MEGATRENDS IN VIETNAM
Millennials are the most likely to interact with brands
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

48. Among consumers and businesses, increasing attention is being paid to ethics and
moral values. This translates into decisions being framed by concerns about the
environment, sustainability, animal welfare, production and labour practices, as
well as desires to positively impact communities and people.
Sustainable Living

49. © EuromonitorInternational PASSPORT 49LIFESTYLES: MEGATRENDS IN VIETNAM
Sustainable living
MEGATRENDS IN VIETNAM
With Vietnam especially vulnerable to rising sea levels, awareness of sustainability issues is
high. 80% of our survey respondents (compared to 65% globally) say they are worried about
climate change, and 74% try to have a positive impact on the environment through their
everyday actions.
Waste and air pollution are major concerns. 49% of Vietnamese respondents say they recycle
items, 63% are reducing plastics use, and 52% (including 61% of Baby Boomers) are cutting
down on food waste. In addition, 43% (52% of Gen X) are trying to reduce their carbon
emissions.
Environmental concerns are translating into more conscious buying behaviour; notably, 43%
of respondents (compared to just 27% globally) say buying eco-or ethically-conscious
products makes them feel good, and 39% say they buy sustainably produced items.
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Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

50. © EuromonitorInternational PASSPORT 50LIFESTYLES: MEGATRENDS IN VIETNAM
▪Sustainable denim producer Saitex has introduced
water-saving technology that has cut the average impact
of a pair of jeans from 80 litres down to just 1.5 litres.
▪In August 2021, Saitex opened a new mill that is run
entirely on solar power and recycles all the water it uses
–even converting its sludge into steam.
▪The mill provides a hydroponic vegetable farming
system to support workers and the local community, and
has planted several thousand trees on and around its
land to help offset carbon emissions.
▪Saitex also has a programme to provide less able and
disadvantaged people with equal employment
opportunities.
Key takeaways
▪Textile factories will pay increasing attention to reducing
their environmental impact and stepping up social
responsibility in response to the changing demands of
the fashion labels they supply.
▪Consumers are also increasingly concerned about
sustainability and the ethical practices employed in the
supply chains of the products they buy.
Saitex pioneers water-saving technology for its new denim mill
MEGATRENDS IN VIETNAM
50% of Gen X buy sustainably produced items

51. © EuromonitorInternational PASSPORT 51LIFESTYLES: MEGATRENDS IN VIETNAM
Climate change is a top concern for Vietnamese consumers
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

52. © EuromonitorInternational PASSPORT 52LIFESTYLES: MEGATRENDS IN VIETNAM
Reducing plastics use and food waste are overriding issues
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

53. © EuromonitorInternational PASSPORT 53LIFESTYLES: MEGATRENDS IN VIETNAM
Consumers are increasing support for responsible brands
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

54. © EuromonitorInternational PASSPORT 54LIFESTYLES: MEGATRENDS IN VIETNAM
Compostable packaging is considered the most sustainable
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

55. Healthy lifestyle habits, inside and outside the home, are becoming a more normal
way of life, as concerns over obesity, food sensitivity and the number of people
affected by different types of disease continue to rise. Furthermore, a more holistic
approach to wellness is being adopted which encompasses spiritual and mental
wellbeing, alongside physical health. Continued focus on health and wellbeing
entails a wider lifestyle shift and evolving attitudes towards healthcare, nutrition,
beauty, physical activity and overall self-improvement. The pursuit of optimal
wellness is also reflected in continued product development, as well as
technological and digital advancements to fit consumers’ new priorities.
Wellness

56. © EuromonitorInternational PASSPORT 56LIFESTYLES: MEGATRENDS IN VIETNAM
Wellness
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021
Middle class Vietnamese have taken a more proactive approach to health prevention amid the
pandemic. A substantial 83% of our survey respondents say they exercise at least weekly, 71%
look for healthy ingredients in food and drink, and 64% take health supplements at least
weekly.
Cycling is a very common way to get around whilst keeping fit: 55% of Vietnamese
respondents (compared to 38% globally) ride a bicycle at least weekly. Running is also
popular, with 69% doing this at least weekly, while as many as 46% saying they use an app to
track their health and fitness.
With stress levels high during the pandemic, consumers are looking for ways to unwind and
take care of their mental wellbeing. 43% (versus 30% globally) say they participate in stress-
reduction activities at least weekly, with 68% practicing yoga and 62% consuming herbal
remedies.
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57. © EuromonitorInternational PASSPORT 57LIFESTYLES: MEGATRENDS IN VIETNAM
▪In July 2021, Vietnamese dairy company NutiFood
launched a range of functional milk-based drinks for
children that was developed at its newly opened
research institute in Sweden.
▪Packaged in RTD cartons, NuVi is available in three
varieties: a cocoa jelly malt drink; a strawberry, peach
and apple drinking yoghurt; and an orange and tropical
fruit milkshake.
▪All products are fortified with vitamins B1, B5 and B6,
and taurine to promote brain health, and vitamins D3
and K2, zinc and calcium to strengthen bones and
optimise growth.
Key takeaways
▪With high rates of malnutrition and a growing problem
of child obesity, the Vietnamese government is
encouraging partnerships between local and
international companies to help raise nutrition
outcomes in the population.
▪Consumers consider European brands and formulas to
be of superior quality, and parents are often willing to
pay a premium to ensure their children obtain the best
nutrition.
NutiFood brings Swedish nutrition standards to Vietnam
MEGATRENDS IN VIETNAM
57% of consumers are influenced by health and
nutritional properties when buying food and
drink

58. © EuromonitorInternational PASSPORT 58LIFESTYLES: MEGATRENDS IN VIETNAM
Vietnamese are among the world’s most physically active consumers
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

59. © EuromonitorInternational PASSPORT 59LIFESTYLES: MEGATRENDS IN VIETNAM
Millennials pay the closest attention to nutrition labels
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

60. © EuromonitorInternational PASSPORT 60LIFESTYLES: MEGATRENDS IN VIETNAM
Massage and yoga are the top wellbeing activities
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

61. © EuromonitorInternational PASSPORT 61LIFESTYLES: MEGATRENDS IN VIETNAM
Consumers are embracing health tech
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

62. © EuromonitorInternational PASSPORT 62LIFESTYLES: MEGATRENDS IN VIETNAM
Health and safety is paramount amid pandemic measures
MEGATRENDS IN VIETNAM
Source: Euromonitor Voice of the Consumer: Lifestyles Survey 2021

63. © EuromonitorInternational PASSPORT 63LIFESTYLES: MEGATRENDS IN VIETNAM
Leverage the power of Megatrends to shape your strategy today
Today’s environment of fast-paced
change makes it more challenging
than ever to keep up with
competitors. Megatrend analysis
helps businesses better anticipate
market developments and lead both
incremental and disruptive change
for their industries. Euromonitor
International’s white paper
“Megatrend Analysis: Putting the
Consumer at the Heart of Business”
provides instructions on how to
conduct megatrend analysis for your
business.
The importance of megatrend
analysis
In addition to education and
awareness, Euromonitor
International partners with
businesses to quantify the current
and forecast impact of megatrends,
prioritising which megatrends and
industry/category level trends to
innovate against and the next steps
for the company. To learn more
about how we can activate
megatrend analysis at your
company, please visit
http://www.euromonitor.com/cons
ulting-consultation-request.
Don’t miss our other megatrend
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Megatrends in Vietnam
▪Digital Living
▪Experience More
▪Middle Class Reset
▪Premiumisation
▪Shifting Market Frontiers
▪Shopping Reinvented
▪Sustainable Living
▪Wellness
How Euromonitor Consulting can
help

64. © EuromonitorInternational PASSPORT 64LIFESTYLES: MEGATRENDS IN VIETNAM
▪Today’s environment of fast-
paced change makes it more
challenging than ever to keep up
with competitors. Megatrend
analysis helps businesses better
anticipate market developments
and lead both incremental and
disruptive change for their
industries. Euromonitor
International’s white paper
“Megatrend Analysis: Putting the
Consumer at the Heart of
Business” provides instructions
on how to conduct megatrend
analysis for your business.
The importance of megatrend
analysis
▪In addition to education and
awareness, Euromonitor
International partners with
businesses to quantify the
current and forecast impact of
megatrends, prioritising which
megatrends and
industry/category level trends to
innovate against and the next
steps for the company. To learn
more about how we can activate
megatrend analysis at your
company, please visit
http://www.euromonitor.com/c
onsulting-consultation-request.
How Euromonitor Consulting can
help
▪Digital Living
▪Experience More
▪Middle Class Reset
▪Premiumisation
▪Shifting Market Frontiers
▪Shopping Reinvented
▪Sustainable Living
▪Wellness
Don’t miss our other megatrend
reports
Leverage the power of Megatrends to shape your strategy today
MEGATRENDS IN VIETNAM

65. FOR FURTHER INSIGHT PLEASE CONTACT
Gina Westbrook
Director Consumer Trends
[email protected]

66. © EuromonitorInternational PASSPORT 66LIFESTYLES: MEGATRENDS IN VIETNAM
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