Businesses urged to tailor their strategies to evolving Tết shopping behaviours
Businesses urged to tailor their strategies to evolving Tết shopping behaviours
Consumers are increasingly seeking convenience and simplicity even during Lunar New Year (Tết) shopping, and so brands and manufacturers need to offer practical, time-saving and cost-efficient products, a seminar heard in HCM City on December 2.
Nguyễn Phương Nga, senior business development director at Kantar Worldpanel Việt Nam, speaks at the seminar on Tết Shopping Trends 2025 in HCM City on December 2. — VNS Photo |
“Tết Shopping Trends 2025 – How to Meet New Consumer Demands,” a seminar organised by the High Quality Vietnamese Products Business Association, delved into the key trends that shaped the 2024 festive season and explored their implications for 2025.
It also considered the latest developments in the retail market and offered recommendations on what Vietnamese businesses need to do to compete effectively with international sellers.
Tết is a "golden" period for the retail sector but demands keen awareness and adaptability to the ever-changing market, delegates said.
Nguyễn Phương Nga, senior business development director at Kantar Worldpanel Việt Nam, said after a prosperous Tết 2023 after COVID, 2024 saw a decline in spending on fast moving consumer goods in four key cities while growing by 0.9 per cent in rural areas.
She attributed this to consumers’ growing desire to relax or travel during Tết.
Tết 2024 witnessed a shift towards practical and health-focused FMCG choices, which was evident in the reduced consumption of products such as alcohol, confectionary, soft drinks and energy drinks and the increasing demand for practical items that cater to the whole family.
Even within gifting, consumers tended to choose practical options such as cooking oil, spices, instant noodles and monosodium glutamate, she said.
She emphasised that this trend would significantly shape Lunar New Year 2025.
Alongside preserving traditional cultural values, people would also seek products that not only promote health but also embody the spirit of togetherness, reflecting care for quality of life, she said.
So businesses needed to align their offerings with consumers’ demand, she said.
Talking about distribution channels, experts said supermarkets and hypermarkets would remain the top choices for Tết shopping due to their wide range of products.
Meanwhile, online shopping would continue to gain traction due to its convenience and diverse product selection, they said, pointing out that online channels would see earlier peaks compared to offline stores.
Traditional channels would still play a vital role in rural regions, but households there would be increasingly shopping online, they said.
Referring to the intense competition in the market, they said businesses should create differentiation or added-value for their products besides offering competitive prices.
According to Kantar, looking towards Tết 2025, a more positive economic outlook is shaping up. However, consumers remain cautious about their financial situation, indicating a conservative approach to spending.
Nga highlighted the importance of timing and channel strategy, saying that understanding the consumer’s shopping journey across online and offline channels is critical.
Brands needed to engage consumers at the right time and place, capturing their needs from early shopping phases to the last-minute rush before the Lunar New Year, she pointed out.
To maximise reach and capture consumer demand, they must tailor their strategies to the unique Tết shopping behaviours in urban and rural areas, as well as online and offline channels, she added.
