Highlights & Implications for Brands
Manufacturers are elevating the Tet gifting tradition by capturing the long-lasting demand for mixed gift baskets and staying relevant to consumers’ demand for Tet usage.
FMCG has returned as a preferred gifting choice this Vietnamese new year. More households reported receiving FMCG as presents. Beverages and Personal Care were significant drivers of this uplift in FMCG gifting.
The top growing FMCG categories for gifting or consumption are those that cater to a wide range of consumers, such as light beers or mixed gift hampers. There’s something for everyone to enjoy while celebrating the holiday.
Mini Stores are catching up with Hyper and Super to become one of the favorite retail formats for festive shopping thanks to the availability of Tet categories in smaller formats. Brands and manufacturers must not ignore these emerging channels in their distribution plans, especially online as they are likely to make bigger basket wins.
In hard economic times like these, discretionary spending will become more intentional. But after years of halted life, consumers want to enjoy life a bit and treat themselves to some affordable little extras during the holidays. Brands should not compromise on aspects like packaging or value proposition of their products.
As the world is changing, Tet traditions are changing and adapting too. Technology has taken traditional holiday shopping to new levels, as more festive categories can now be easily purchased on eCommerce or social commerce platforms.
While Tet is steeped in tradition, it is not immune from the influence of globalisation. Expect a evolving blend of eastern and western customs. This is changing how people spend and what they spend on during the spring holiday. Consumers are embracing more imported categories into their shopping food and beverage repertoire. For example, this year wine and champagne recorded strong growth.
Consumers are willing to invest more in products or activities that offer them experiential value. This offers brands further opportunities by creating campaigns that target the specific moments and occasions that matter.
We combine purchase data from our household panel with tailored surveys about special occasions to give you a 360-degree picture of consumers’ needs, preferences, and behaviours during the festive seasons. Our expert insights and household panel data help you seize the moments of growth by answering these key questions:
•How have consumer behaviours have changed this holiday vs. the previous ones?
•How is your brand performing vs. your competitors?
•How to identify the white space for you to win the next Tet (time, promotion, price, channels)?
Learn more on how we help you reshape your holiday marketing plan with consumer insights.
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