The 7th Share & (L)Earn took place on 6th of December, with the topics related to Consumer trends and economic transition of Vietnam.
The workshop started with “General overview of consumer trends in Vietnam” by Mr. Richard Burrage. Main theme of his presentation was to compare Vietnam in 2005 vs. 2016 in terms of consumer trends. We learnt that number of high income households doubled whilst economy tripled, household structures changed, kids are no longer a priority. Young urban population will be driving growth. All underpinned by conspicuous consumption, increasing health consciousness and ever present mobility.
Secondly, Ms. Magdalena Krakowiak gave a presentation on ‘’Family Power – behaviour and media consumption habits of families in Vietnam’’. Magdalena was focusing on families’ habits and changes. Based on her speech we noticed that not only the young generation and rapidly growing middle class are driving retail growth, but also family is a powerful group. Although, the family model has been changing from 2+3 to 2+2 and less, the main expense applies to babies, given that birth rate is very high in Vietnam and will reach approximately 1,6M this year.
The S&L event ended up with the comprehensive presentation of Mr. Guy Balza “How to influence shoppers to consider and buy a brand in the retail stores’’. Some of the interesting facts we heard are: 75% of country GDP comes from 6 biggest cities, where 24MM people live. This high concentration of population in urban areas leads the shopper behaviour changes. 70% of purchases are made in stores and 68% are impulse driven. Modern trade stores are ideal marketing canvas. The shopper behaviour is influenced by: communication, availability and offer. The most effective in-store POSM are SV/SVB (Special Valuation) and promotion islands. The sales can be created by building awareness, distribution and trial. The samples are the most efficient contact, the opportunity to try the brand immediately. This explains why out of pocket per shopping trip is more or less same as five years ago – promotions are keeping prices in check.
The S&L event was concluded with many questions from the audience and an interesting discussion.
