Driving Smarter Business Decisions in Vietnam 2014 - Nielsen

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Driving Smarter Business Decisions in Vietnam 2014

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  • 1. KNOW. ACT. GROW. Driving smarter business Decisions in Vietnam 2014

2. Over TWO DECADES OF DRIVING SMARTER, BETTER AND FASTER DECISIONS IN VIETNAM 1923 1923 1946 1955 1968 The Company is founded and incorporated in Chicago, IL Nielsen produces the first marketing research and performance surveys Nielsen presents the first instantaneous Audimeter to the radio industry Nielsen creates the Designed Market Area (DMA) concept, in the U.S., defining a television market Nielsen begins measuring television ratings for all Summer and Winter Olympic Games broadcasts We capture and analyse real-life conversation online across 235 of the most popular U.S. television channels We measure the activity of more than 50,000 online panelists worldwide 3. Copyright 2014 The Nielsen Company 1974 1988 2005 2012 We measure 85 million retail product transactions a year in 350,000+ stores globally We provide TV audience measurement in 33 countries NIELSEN IN VIETNAM 1993 Nielsen scanned its first item on June 25, 1974: Juicy Fruit Gum Nielsen introduces a new TV metering technology, the Active/ Passive meter, to measure all broadcasts in the U.S. Nielsen becomes the first official market research provider for Olympic Games Nielsen introduces hand-held scanners used by household members to record UPC-coded purchases 4. Driving smarter business Decisions in Vietnam 2014 WELCOME Vaughan Ryan MANAGING DIRECTOR Vietnam Vietnam continues to be a volatile market. In less than two years, we have gone from the fastest-growing, retail environment in the world, to a declining market, with many new challenges. As a result, companies need to be better informed. Decision-making can no longer rely on gut feel and historic trends, as uncertain times stand before us. Organic growth will certainly slow down, especially in the key cities of Ho Chi Minh and Hanoi. For this reason, companies need to look at new markets within the country. Companies that succeed in the future need to be present across the total market. As you will see in this 9th edition of the Nielsen Pocket Reference Book, we must start thinking about RURAL Vietnam as our next source of growth. With over 65% of the countrys population living in rural areas and accounting for around 50% of the countrys GDP, rural Vietnam is the greener pasture that will drive growth for many businesses for at least the next decade and beyond. 5. Copyright 2014 The Nielsen Company Information is everywhere and as easy as it is to jump on the Internet bandwagon, it is difficult discerning what matters. Thats the new challenge of Big Data and this is where Nielsen can help. We deliver actionable insights to your business, using new forms of technology to consistently provide an UNCOMMON sense of the Vietnamese consumer. This version is a compilation of Nielsen findings over the past year, and our hope is that it helps you identify trends in Vietnam and serves as a first-stop reference when you have questions about the market and your area of interest. We have again included our own proprietary research as well as figures from the Vietnam Government Statistics Office. Know your consumers. Act to address them. Grow your business. Our presence in 104 countries across developed and developing regions enable us to provide clients with the most comprehensive view of what consumers watch and buy. NIELSEN PRESENCE RANKED AMONG TOP EMPLOYERS IN VIETNAM STARTED MYANMAR OFFICE IN MARCH 2014 REGIONAL HEADQUARTERS IN SINGAPORE ABOUT 6,000 EMPLOYEES IN 11 MARKETS 6. Driving smarter business Decisions in Vietnam 2014 7. Copyright 2014 The Nielsen Company With presence in 104 countries, Nielsens mission is to provide clients with the most complete understanding of what consumers watch and buy. The consumers world is changing at an unprecedented speed where media and commerce are colliding. We are focused on innovating to stay ahead of evolving market trends, allowing us to provide our clients with usable, practical and meaningful tools that help them make strategic business decisions every day. Nielsen is uniquely positioned to drive performance management solutions for our clients around the globe. 8. VIII Driving smarter business Decisions in Vietnam 2014 WE MEASURE THESE CATEGORIES IN VIETNAM BEVERAGE FOOD PERSONAL CARE HOUSEHOLD CARE MILK-BASED PRODUCTS BABY PRODUCTS CIGARETTES Beer Biscuits and pies Hair conditioner Dish washing liquids Milk powder syndicated Baby cereal Cigarettes Energy drinks Bouillon MSG Body cream lotions Fabric softeners Spoon yoghurt Baby diapers Fruit juices Chilli sauces Deodorants Facial tissues Sweetened condensed milk Instant coffee Cooking oils Facial care products Household cleaners Packaged water Gum Feminine protection Household insect aerosols and coils Ready-to-drink tea Instant noodles Mouth wash Household insect lotions Ready-to-drink milk Mayonnaise Personal wash Laundry products Ready-to-drink coffee Sauces Shampoo Tissue Sport drinks Snacks Toothbrushes Tea bags Toothpaste Tonic food drinks 9. 1Copyright 2014 The Nielsen Company CONTENTS 3 10 18 24 32 38 44 48 INSIGHT 1: THE BIG PICTURE INSIGHT 2: WHAT SHOPPERS WANT INSIGHT 3: HEALTH MATTERS INSIGHT 4: DEMYSTIFYING RURAL VIETNAM INSIGHT 5: MORE DEVICES, MORE SCREENS INSIGHT 6: FUTURE OF BANKING TAKING A CLOSER LOOK AT THE DATA HOUSEHOLD INCOMES TAKING A CLOSER LOOK AT THE DATA POPULATION 10. 2 Driving smarter business Decisions in Vietnam 2014 INSIGHT 1 THE BIG PICTURE 11. 3Copyright 2014 The Nielsen Company CONSUMERS ARE AT THE HEART OF YOUR BUSINESS BUT DO YOU KNOW HOW THE WORLDS ECONOMY AFFECTS THEIR SPENDING AND SAVINGS DECISIONS? ARE CONSUMERS SAVING? ARE CONSUMERS SPENDING? How do they feel about their job prospects? 12. 4 Driving smarter business Decisions in Vietnam 2014 VIETNAMESE CONSUMERS ARE CAUTIOUSLY OPTIMISTIC of Vietnamese respondents are confident about job prospects 45% of Vietnamese respondents are confident about personal finances 54% of Vietnamese respondents think now is the time to buy 37% of Vietnamese respondents have recently changed spending to save more 85% 13. 5Copyright 2014 The Nielsen Company Q2 2014: ACROSS ASIA PACIFIC, VIETNAM IS FAIRLY OPTIMISTIC, ON PAR WITH SINGAPORE NEW ZEALAND AUSTRALIA CHINA HONG KONG INDIA INDONESIA JAPAN MALAYSIA PHILIPPINES SINGAPORE SOUTH KOREA TAIWAN THAILAND VIETNAM 53 73 75 85 93 98 98 99 103 105 111 120 123 128 14. 6 Driving smarter business Decisions in Vietnam 2014 Nearly half OF VIETNAMESE RESPONDENTS FEEL Confident ABOUT THEIR JOB PROSPECT over the next year OPTIMISM ABOUT PERSONAL FINANCE IS Higher, ALTHOUGH BELOW REGIONAL AVERAGE NOT SO GOODBAD VN Q313 EXCELLENTGOOD VN Q413 VN Q114 VN Q214 AP Q313 AP Q413 AP Q114 AP Q214 3 46 42 5 3 46 41 6 3 46 43 6 3 50 38 6 6 31 51 9 6 27 53 10 6 26 52 12 6 27 53 12 Base: All respondents n=10125 NOT SO GOODBAD VN Q313 EXCELLENTGOOD VN Q413 VN Q114 VN Q214 AP Q313 AP Q413 AP Q114 AP Q214 4 44 45 5 3 39 50 5 4 38 53 3 4 41 49 4 6 30 52 9 6 29 54 8 6 29 53 9 5 29 53 9 15. 7Copyright 2014 The Nielsen Company Vietnams WILLINGNESS TO SPEND is relatively lower than the regional average over the past year. NOT SO GOODBAD VN Q313 EXCELLENTGOOD VN Q413 VN Q114 VN Q214 AP Q313 AP Q413 AP Q114 AP Q214 8 53 33 4 6 54 34 4 8 52 34 5 5 56 34 4 10 45 35 5 9 44 38 5 9 44 37 5 10 45 38 5 16. 8 Driving smarter business Decisions in Vietnam 2014 HIGHEST SAVINGS SINCE 2011 (after covering essential living expenses) Investing in shares of stock/mutual funds Holidays/Vacations Home improvements/ decorating New clothes New technology products Out-of-home entertainment Paying off debts/ credit cards/loans Retirement fund Putting into savings I have no spare cash Dont know/undecided Q3 2013 Q4 2013 Q1 2014 Q2 2014 72 74 77 79 35 31 33 38 32 30 31 31 30 33 29 30 31 33 27 29 28 25 25 28 14 17 16 16 10 10 10 12 10 14 16 10 7 7 4 4 1 2 2 1 Base: All respondents n=503 17. 9Copyright 2014 The Nielsen Company SNAPSHOT OF VIETNAM OVER THE YEARS INDEX LEVELS INDICATE DEGREES OF OPTIMISM (>100) AND PESSIMISM (120 25. 17Copyright 2014 The Nielsen Company WHAT ARE VIETNAMESE SHOPPERS BIG ON? 6,338 BABY STORES +10% VS. 2012 *NIELSEN RES 2013 Amusement Parks AND Play Areas Shopping AND Advice Websites Natal Care ConsultATION Source: http://bit.ly/1ttADpj http://bit.ly/1lqbgnr 26. 18 Driving smarter business Decisions in Vietnam 2014 INSIGHT 3 HEALTH MATTERS 27. 19Copyright 2014 The Nielsen Company WHAT GOOD HEALTH MEANS TO VIETNAMESE CONSUMERS...... Eat/drink in moderation Eat fresh/ natural food 78% 47% physical exercise46% meals nutritional value41% keeping the mind relaxed35% 28. 20 Driving smarter business Decisions in Vietnam 2014 BODY, MIND AND SOUL ITS A BALANCING ACT WHAT WE EAT HOW WE LIVE LIVING HAPPILY 92% WORK LIFE BALANCE 89% DOING EXERCISE 82% EATING HEALTHY FOOD 99% BALANCED DIET 95% 29. 21Copyright 2014 The Nielsen Company FROM perception TO products to Consumers, healthy food is...... Healthy Products are...... SAFE/HYGIENIC 94% FRESH 91% VITAMINS INCLUDED 67% FROM TRUSTWORTHY MANUFACTURERS 58% NATURAL 72% NO ARTIFICIAL ADDITIVES 58% liquid milk 90% low cholesterol oil73% organic food63% powder milk56% yogurt54% cereal46% cheese34% Base: All respondents n=700 30. 22 Driving smarter business Decisions in Vietnam 2014 Top health and nutrition problems Those NOT confident in current health (%) the most important concerns in life (%) HEALTH OF HUSBAND/ WIFE/CHILDREN MY PERSONAL HEALTH MY CAREER RELATIONSHIP BETWEEN FAMILY MEMBERS FINANCE (MONEY, PROPERTY, HOUSE, VEHICLES ETC.) 26 13 13 12 11 Middle-aged 30+ y.o.: 34% Youth: 19% OFTEN/EASILY FALLS SICK DONT KNOW WHERE TO EAT HEALTHY FOOD WEIGHT LOSS HEART DISEASE EATING/DRINKING FOOD THAT LACK IN NUTRITION 17 14 12 12 9 family health is the top concern 1 in 3 VIETNAMESE ARE WORRIED ABOUT THEIR HEALTH AND WEAK IMMUNITY Q13. Self-evaluation o own health confidence ((All respondents n=700) Q16. First mention on most