The Hanoitimes - Generation Z is estimated to be around 15 million people by 2025, representing approximately 25% of the country’s workforce. Generation Z, born between 1996 and 2005, is already having a marked impact on the consumer landscape in Vietnam given their growing purchasing power while they are years from fully establishing themselves, according to the latest report “Generation Z in Vietnam” released by Nielsen - a global information and measurement company. Generation Z is estimated to be around 15 million people by 2025, representing approximately 25% of the country’s workforce. Up to 70% of Generation Z correspondents said that they would influence the purchase decisions for furniture, household goods, indulgent food and beverage. According to Retail Measurement Service data, indulgent food and beverage have the market size of US$6.6 billion in 2017. And their influencing power on purchase is not just limited to these categories above. They … [Read more...] about Generation Z leave marked impact on Vietnam’s consumer landscape: Nielsen
Generation z and millennials
Generation Z key consumers: Nielsen
Generation Z has a significant impact on the consumer market. Photo news.zing.vnViet Nam News HCM CITY— It is clear that Generation Z, born between 1998 and 2010, has a significant impact on the consumer market, a recent report released by global measurement and data analytics company Nielsen said. “Generation Z in Việt Nam” polled 370 people in Hà Nội and HCM City, with 210 of them belonging to generation Z and the rest being Millennials born between 1988 and 1999. The report looks at the growing impacts of Generation Z, their connection with other generations, how important social media is in their lives, and the effectiveness of brand loyalty and endorsements. Seventy per cent of Generation Z respondents said they influence the decisions to purchase furniture, household goods, food, and beverages. But their power to influence purchases is not just limited to these categories: They indicated they are the key … [Read more...] about Generation Z key consumers: Nielsen
Z Gen is the future of global economy
VietNamNet Bridge - Spending VND13 trillion on food and drinks alone each month, the members of Z generation (Z Gen) in Vietnam are believed to be major consumers in the future. The members of Z Gen are believed to be major consumers in the future Nguyen Minh Tri, born in 1997, recently met reporters at Royal, a bubble tea shop in district 3, HCMC. Tri just graduated from RMIT University one year ago, but earns a lot from his 3D app designing. “I just need to post my products on some websites of the designers’ community. If foreign firms like my products, they will contact me,” he explained. Despite modest income and reliance on parents, Z Gen is still considered the group of customers who are setting new trends in the large cities of Vietnam. “Sometimes they buy my products. In other cases, they hired me to develop projects together with them,” he said. “As a freelancer, I don’t have to go to office. I don’t have to … [Read more...] about Z Gen is the future of global economy
Vietnam’s Generation Z may not make much money, but they have a weakness for eating out
Vietnamese youngsters born between 1995 and 2002, or Generation Z, have emerged as potential consumers for dining brands, according to new market research that found they are willing to spend a big chunk of their budgets on eating out, regardless of how much money they make. Generation Z, also known as Post-Millennials, the iGeneration, Founders, Plurals, or the Homeland Generation, is the demographic cohort following the Millennials. A recent poll of 16,000 respondents in Vietnam's three biggest cities - Hanoi, Da Nang and Ho Chi Minh City - by Decision Lab showed that Vietnam's Generation Z, which accounts for 15 percent of a population of roughly 93 million, spend on average VND890,000 ($40) a month eating out. Vietnam's average annual income was around $2,200 last year. The HCMC-based market research firm said 56 percent of respondents earned no money or made less than VND3 million ($132) per month, and only 35 percent of them made between VND3 million and VND7.5 … [Read more...] about Vietnam’s Generation Z may not make much money, but they have a weakness for eating out
Vietnam’s Generation Z may not make much money, but they have a weakness for splurging on eating out
Vietnamese youngsters born between 1995 and 2002, or Generation Z, have emerged as potential consumers for dining brands, according to new market research tha found they are willing to spend a big chunk of their budgets on eating out, regardless of how much money they make. Generation Z, also known as Post-Millennials, the iGeneration, Founders, Plurals, or the Homeland Generation, is the demographic cohort following the Millennials. A recent poll of 16,000 respondents in Vietnam's three biggest cities - Hanoi, Da Nang and Ho Chi Minh City - by Decision Lab showed that Vietnam's Generation Z, which accounts for 15 percent of a population of roughly 93 million, spend on average VND890,000 ($40) a month eating out. Vietnam's average annual income was around $2,200 last year. The HCMC-based market research firm said 56 percent of respondents earned no money or made less than VND3 million ($132) per month, and only 35 percent of them made between VND3 million and VND7.5 … [Read more...] about Vietnam’s Generation Z may not make much money, but they have a weakness for splurging on eating out