Tuesday, May 11, 2021
Home Business Vietnamese People Grow More Nuanced, Just Like Their Drinks

Vietnamese People Grow More Nuanced, Just Like Their Drinks

Vietnamese People have always been nuanced with different kinds of drinks- soda, bubble tea and many more

To see how much the consumer has changed in Vietnam, look no further than what he drinks: soda or bubble tea. Vietnamese People have always been nuanced with different kinds of drinks.

Coca-Cola was one of the first foreign investors in Vietnam, selling in wartime and in a postwar period when many foreign companies stayed away amid a trade embargo.

These days it is not an American soft drink brand that has captured the imagination of Vietnamese drinkers, but bubble tea, brought in by a range of Asian companies, from Taiwan to Thailand. Bubble or boba tea, a sugary milk tea known for its tapioca balls, can come in endless flavors, such as strawberry, matcha, or cacao, and combined with balls of tapioca, jelly or sweet beans. The drink is decidedly more complex than soda, and increasingly, so too is the Vietnamese shopper.

This goes far beyond drinks. It used to be that foreign companies entered Vietnam to sell the basics: fast moving consumer goods, such as bags of instant noodles or paper towels. But as Vietnam moves toward a more consumption-based society, foreign investors are responding to a desire for a greater variety of products and services.

Vietnamese, drinks, fond, nuance, consumption
Businesses are working to meet the changing tastes of shoppers in Hue and across the rest of Vietnam. VOA

“[M]ore international brands are entering Vietnam than ever, thanks, in part, to the liberalization of Vietnam’s regulatory and social environment,” Colliers International Research, a real estate services company, wrote in its first quarter analysis of the Vietnam market. “This increase in brands will entice consumers to spend more … with the shift from solely retail-focused to more comprehensive entertainment experiences.”

Bubble tea, after all, is not just a drink but a social experience, seen as a more fun, colorful way for people to get together than over the traditional coffee.

Other kinds of businesses, like boxing gyms, pet shops and cosmetics stores, are starting to appear, too, and with foreign investor backing. It seems every week there is a new storefront popping up, hoping to cater to the Vietnamese shoppers’ changing tastes. The new businesses are engaging in lines of commerce from Japanese whisky bars to stores for birthday party paraphernalia, that did not exist in the Southeast Asian country even a decade ago.

Vietnamese, drinks, fond, nuance, consumption
New businesses like exercise centers, from the all-encompassing gym to the boxing or yoga studio, are popping up around Vietnam. VOA

Vietnamese citizens are earning more, and they are ready to spend it. A survey by Nielsen Vietnam, a market research company, indicated consumer confidence rose 7% in the first quarter of 2019 compared with the last quarter of 2018.

“This significant increase of consumer confidence indicates that consumers continue the positive” sentiment, said Nguyen Huong Quynh, managing director at Nielsen Vietnam.

“Manufacturers and retailers need to capture the latest trends in the consumer market and need to act faster to respond to the evolving needs of consumers,” she added.

ALSO READ: Here’s How Gut Bacteria Absorbs Fat Leading to Weight Gain

The changing behavior extends past the biggest cities of Hanoi and Ho Chi Minh City. In the central beach town of Da Nang, for example, the changing appetite of consumers is drawing ever more types of business.

“A great deal of international retailers are planning to penetrate the local market to introduce their products to tourists and local customers in Da Nang and enhance their brand image in Vietnam,” the Colliers analysis said. (VOA)



Most Popular

Puducherry Becomes ‘Har Ghar Jal’ Union Territory

Puducherry has become a ‘Har Ghar Jal' Union Territory (UT) by ensuring that every rural home in the UT gets a household tap connection. With...

Bamboo Bats May Be The Future Of Cricket

The likes of Virat Kohli, Chris Gayle, and Kane Williamson could well discard their English willow bats for those made from bamboo. British scientists...

Achieving Success Doesn’t Erase Trauma: Chris Rock

Hollywood actor and comedian Chris Rock said he used his time during the Covid-19 induced lockdown to have lots of therapy to tackle issues...

Jeff Bezos Used To Review Products On Amazon; Check Them Out

Before Jeff Bezos became a multi-billionaire, he used to write product reviews for Amazon, and over a period of six years between 2000 and...

Battled Depression After Wrist Injury At 2008 Beijing Olympics: Sania Mirza

India's tennis ace Sania Mirza battled depression after she had to pull out of the 2008 Beijing Olympic Games due to a wrist injury....

Knowledge Sharing Social Media Platform For Medical Students: MedBound

We've already been using major social networking sites for different purposes. Well, there are also some social networking sites that aren't to be missed...

Covid19 In India Brought Automation Technologies And IA To The Forefront

The Covid-19 pandemic has brought automation technologies to the forefront and the Intelligent Automation (IA) market in India is estimated to grow at a...

Corset: A Brief History

By- Khushi Bisht Corsets have existed for a very long time. It first originated in Italy and was brought to France in the 16th century...

Recent Comments