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Market Research in Vietnam
Market Overview of Vietnam
Economy
In 2022, Vietnam was one of the top exporters of phones and coffee. About 41% of GDP comes from the services sector and 34% from the industrial sector, while GDP growth is about 7.0%. However, almost 40% of the workforce is employed in the agricultural sector.
Consumers
Disposable income has increased over the years, and consumer expenditure has risen from US$80 billion to US$171 billion from 2010 to 2018.
E-commerce has also been on the rise, with total transactions expected to reach US$4 billion by 2021.
Market Research in Vietnam
Vietnamese is a tonal language, with six different tones. It emphasizes certain words, and the tone can change the entire meaning of a word. Hence, it is necessary to look for a moderator or interviewer well-versed in the language to prevent misunderstanding respondents. Vietnamese also value siesta time, where they take a nap or rest after lunch. During this time, it may not be possible to conduct any fieldwork.
Case Studies
- Asian Decision Makers Study was conducted in Vietnam, India, and Japan for the government/investment industry through phone in-depth interviews.
- Asia Recruitment Study was conducted in Vietnam and several other Asian countries for the recruitment industry through computer-aided telephone interviews (CATI) and desk research.
- EMS Procurement Study was conducted in Malaysia, Singapore, Thailand, and Vietnam for the EMS industry via in-depth interviews.
- Household Appliances Market Study was conducted in Indonesia and Vietnam for the electrical appliances industry via online surveys and in-home ethnographies.
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