Recently, Moore Vietnam released their top trends in digital industry for Vietnam. You can find the full summary of the digital trends here but I’ve summarised what I think will be the top 3 digital consumer behaviours and the implications of those that are key to helping the industry grow in Vietnam.
1. The year of the mobile.
Smartphone prices have come down drastically, making internet access on the go more affordable to the mass population. Brands like Oppo and Huawei are entering the market with sleek, modern handsets for as low as 2M VND. In addition, Vietnam is unique from many countries in that free wi-fi is available just about anywhere, so users are constantly connected. For consumers this means more access to information, data, connecting with others and opportunities to be entertained. For businesses there will be offerings of more innovative marketing platforms, new apps, better mobile buying experiences and revenue generating platforms.
One of the main concerns will remain when mobile connectivity and speeds will increase. Last year, it was reported that Vietnam currently has 19.7 million 3G subscribers, up four million on year, while 2G and 3G subscribers combined total 127.8 million, down eight million.
The number of 3G subscribers accounts for only 16 percent of the total number of mobile users in Vietnam, and its likely that most telecommunication providers won’t be release 4G LTE until 2017-2018, when 3G subscribers rise to 50-60 percent of smartphone users.
2. Video will continue to dominate content consumption.
Vietnam remains the region’s biggest consumption of online video. 91% of all those online watch online video in Vietnam, compared to 85% in the Philippines and 56% in Singapore. The Vietnamese’ appetite for overseas music, drama series and viral videos is driving large traffic. YouTube officially launched in the country October last year and since then advertisers have been quick to grab inventory and leverage the growing audiences.
3. Mature users online.
Five years ago,Vietnam’s internet users mainly consisted of those aged under 35. While this still remains the case, the fastest growing audience are those in 35+ age group. From 2008 to 2014, Internet users aged 35+ grew from 22% penetration to over 70%*.
No longer is the Internet for youth pursuits and as traditional families become more dispersed throughout the country and globally, older users will turn to social media to connect with relatives and loved ones. there will be more demand for information such as finance, news, e-commerce, health & pharmaceuticals, lifestyle, travel and family life. Brands will have increased reach and visibility for audiences with higher disposable incomes and purchasing power.
The dynamic pace of change in Vietnam’s online landscape is forming new platforms, behaviours and trends every day. What do you think of these trends and what would be your prediction for new trends in Vietnam?
*Source 3D Vietnam