VN has SE Asia's most curious shoppers
VN has SE Asia's most curious shoppers
Consumers in Viet Nam show a strong affinity for brands investing in new product development and are among the most likely regionally to try new product offerings, according to a report released on June 23 by Nielsen, a global performance management company.
The Nielsen Global New Product Innovation Survey polled 30,000 online respondents in 60 countries to understand consumer attitudes and sentiments about the reasons behind new product purchases.
Consumers in Southeast Asia are enthusiastic about new products, and are more inclined in this region to try new products, the report said.
Viet Nam had the highest score for trying new products in Southeast Asia, with 88 per cent of consumers saying they had purchased a new product during their last grocery shopping trip. This was 19 percentage points higher than the region's average of 69 per cent.
Thailand ranked second with 77 per cent, and was followed by Indonesia with 72 per cent and Philippines with 68 per cent.
As many as 34 per cent of Vietnamese consumers say they "like when manufacturers offer new product options" and 32 per cent prefer to buy new products from brands which with they are familiar.
As for obtaining information on new products, television advertising plays a key role. Close to one in five consumers in Viet Nam (18 per cent) rank television as their number-one source of new product information and 55 per cent rank television advertising in their top five sources.
Recommendations from family and friends along with doing active search on the internet are also key influencers of new product trials, with 60 per cent ranking family and friends in their top five sources of new product information and 43 per cent ranking active internet searches in their top five sources.
"Consumers throughout Southeast Asia have a strong appetite for innovation and they're increasingly demanding and expecting better choice," said Johan Vrancken, head of Nielsen's Innovation Practice in Southeast Asia, North Asia and the Pacific.
"Brand competition is intense and shelves are crowded, so knowing the channels which are most effective in delivering new product information is crucial," he said.
The Nielsen report revealed convenience was a top driver of new product trials for consumers in Vietnam, followed by family suitability and the brand they are used to.
Affordability was ranked as the number-one driver of new product purchases globally, followed by personal recommendations and convenience.
