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
Luxury brands turn their gaze to increasingly picky millennial buyers
Christine Chen, 27, was looking for a special wedding gift for her best friend. Loaded with cash, she went into one luxury store after another at a mall. Doors were opened obsequiously and staff in tuxedos fawned over her. But soon her interest in luxury fashion dissipated, at least temporarily, because of the overwhelming attention she received. Fifteen minutes later she was out of the door without completing her shopping. Christine’s story epitomes the experience of many young Hong Kong shoppers: They have no problems buying item after item online but quickly lose interest when the very same items are physically displayed in front of them along with an army of sales staff. High prices are not a problem, according to Christine, but the shopping experience at luxury stores often makes her and her friends reluctant to buy. Hong Kong has seen many changes in buying behavior in recent years. Some have not been kind to sellers as the closure of many Burberry, Coach and Louis Vuiton … [Read more...] about Luxury brands turn their gaze to increasingly picky millennial buyers
Major food makers strive to increase revenue from instant noodle
The abundance of new brands, flavours, and packaging types has sent instant noodle sales through the roof As previously reported by VIR, Vietnam ranks fifth in global instant noodle consumption with 5.06 billion packets sold in 2017, up 3 per cent against 2016, according to new figures from the World Instant Noodle Association (WINA). Junichi Kajiwara, president of Acecook’s subsidiary in Vietnam, attributed the rebound to positive changes in Vietnamese consumers’ perspective on instant noodles. In a bid to increase demand among consumers, Acecook aims to diversify its product portfolio with healthier and more value-added products, such as rice noodles and instant noodles with added nutrients. He highlighted that instant noodle products in the form of cups, bowls, and trays will pick up momentum in the coming time, especially in big markets due to their convenience and versatility. Acecook plans to increase sales in this product category, in addition to improving the … [Read more...] about Major food makers strive to increase revenue from instant noodle
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