Vietnamese are generally more careful when buying goods, compared with the average global consumer, a study has found.
Some consumers do not put much into the thought process when making a purchase, but this is apparently not the case for the Vietnamese, according to GfK.
Vietnamese shoppers go through the process of actively seeking out product information, reading the details on the label, before eventually making their purchase decision, it says.
More than half (55 per cent) of the respondents from Vietnam claimed they spend quite a lot of time researching brands – 12 per cent more than the global average.
On top of this, more than three-fifths (62 per cent) said they always read the product label before buying – compared to just 41 per cent globally. “Where and how a product is made is important to me” is also a statement agreed on by nearly seven out of 10 (68 per cent) in Vietnam – almost twice as much as the global average of 35 per cent.
“Vietnamese tend to be more careful, especially in the area of food safety after a series of health scares which took place earlier this year,” said GfK Vietnam MD Van Tran Khoa.
“Relative to other countries, people in Vietnam seem to be showing higher levels of anxiety towards issues related to health and security.”
For instance, three-quarters (75 per cent) of the Vietnamese respondents say they are always concerned about their safety and security. When it comes to food safety, a high 76 per cent said they worry about how safe the food they buy is and worry about contaminated food and drinks. These findings are much higher than the global averages of 58 and 36 per cent respectively.
A high 90 per cent, who said they are interested in food and drinks that have proven medical/health benefits. This is significantly higher by 29 per cent when compared with the global average who shared the same sentiments.
Furthermore, the brand of a product also has a higher impact on consumers’ purchase decisions in this part of the world. Consumers here tend to be more brand conscious, with more than three-fifths (63 per cent) saying they buy only from a trusted brand.
A similar level (60 per cent) is in agreement that it is better to buy well-known brands because they can rely on the quality.
“The survey has shed some important insights on the cautious attitude of many Vietnamese and how it affects their consumption behavior and choices,” said Van.
“For those in marketing and product innovation, it is important to understand these unique aspects of a market in order to succeed, especially in high growth markets such as Vietnam” he said.