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Vietnam consumer trend 2019

Q&Me is online market research provided by Asia Plus Inc. Asia Plus Inc.
Foreword
Vietnam is one of the world’s top economic
performers when registering a 7% annual GDP
growth rate in 2018.
With the country’s macroeconomic stability, fast
growing domestic consumer demand, competitive
labor cost together with strengthening external
trades, Vietnam will remain an attractive
destination for businesses.
This report explores Vietnam’s latest consumer
trends in important sectors which will continue to
be a driving force of Vietnam moving forward. It
will also highlight some business opportunities and
challenges companies might face when doing
business in Vietnam.
Table of contents

1. Economic landscape P.4


2. Retail market overview P.15
3. Vietnamese online shopping trend P.25
4. Popular media and information source P.34
5. Investment in education P.48
6. Increasing demand of travelling P.60
7. Key technology adoption in Vietnam P.66
Economic landscape
Population
Vietnam population over the years
100 (million)
1.0%
1.6%
1.1%
Area: 1.1%
310.060 km2 95

Population:
97.9 million (May 2019) 90
Urban citizens
34.6 million - 36%
97 97.9
(2018)
Employed population: 85 94.4 95.4
93.4
53.9 million (2018)

80

75
2015 2016 2017 2018 2019 (May)

Vietnam population reaches 97.9 million in May 2019, making it the 14th most
populated country in the world.
Sources: General Statistics Office of Vietnam
Aging population
2019 (April) 2029F
Population: 97,270,778 Population: 104,648,343

Vietnam population is aging. In 2019, the ratio of elderly people (65+) is


estimated to reach 12%.
Sources: Populationpyramid.net / General Statistics Office of Vietnam
Labor force & employment
Laborers aged 15 and above Unemployment rate
(2010-2019)
(Thousand persons) 7.0%
55,324 55,431
54,824
54,445 6.0%
53,984
53,748
53,246 5.0%
4.3%
52,348
4.0% 3.4% 3.4%
51,398 3.2% 3.2% 3.1%
2.9%
3.0%
50,393 2.3% 2.3% 2.2% 2.2%
2.1%
2.3%
2.0%
1.8% 1.8% 1.8% 1.7%
1.5%
1.0%

0.0%
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2010 2014 2015 2016 2017 2019 (1st
(1st quarter)
quarter)
Total Urban Rural

Vietnamese labor force continues to rise. In the first quarter of 2019, there’re
over 55 million labors with the unemployment rate of 3.1%.
Sources: General Statistics Office of Vietnam
GDP growth
Vietnam GDP growth rate (2009-2018) GDP per capita (2009-2017)
(USD/person/year)
7.1%
6.9% 6.8% 2,546
7.0%
6.4% 2,385
6.2% 6.2% 2,215
6.0%
2,052 2,109
6.0%
1,907
5.4% 5.3% 5.4% 1,748
1,517
5.0%
1,273
1,064
4.0%

3.0%

2.0%
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Vietnam’s GDP growth rate hit 7.1% in 2018, a 3 years of increase in a row.
GDP per capita is on steady growth since 2009, reaching over $2,300 in 2017.
Sources: General Statistics Office of Vietnam
Vietnam in Asia (1) - GDP growth
2018
7.3%
7.1% 7.1%
6.8% 6.9% 6.8% 2017
6.6% 6.7%
6.2% 6.2%
5.9%

5.2% 5.1%
4.8%

3.9%
3.7%

2.7% 2.6%

Cambodia Vietnam Laos Philippines Myanmar Indonesia Malaysia Thailand Singapore

Vietnam boasts of one of the highest GDP growth rates in SEA.


Sources: World Bank
Vietnam in Asia (2) - GDP per capita
(USD)

61,767

33,233

11,237
6,992
4,052 3,095 2,706 2,546 1,499 1,338

Singapore Brunei Malaysia Thailand Indonesia Philippines Laos Vietnam Cambodia Myanmar

In 2018, Vietnam recorded a GDP per capita of $2,546.


Sources: World Bank
GDP contribution
Contribution to GDP (2017) Top export sectors (2017)

Top export sectors USD Billion %


10% 15%
Telephones & spare parts 45.3 20.7%

Textiles & garments 26.0 11.9%

Computers, electronics & spare parts 25.9 11.8%


41% 33%
Foot ware 14.7 6.7%

Machinery & spare parts 12.8 5.8%

Seafood 8.3 3.8%


Agriculture, Forestry and Fishing
Wood & wooden products 7.7 3.5%
Industry and Construction
Services Means of transports & equipment 7.0 3.2%
Tax less subsidies on production

Services sector contributes the most to Vietnam’s GDP, accounting for 41% in 2017.

Sources: General Statistics Office of Vietnam


Foreign direct investment
Registered FDI (2013-2017) Key FDI sectors (2017)
35.9
(Billion USD)
17%
Processing and production
7% 44% Utilities
24.4 9% Real estate
22.8 Retail and wholesale
21.6
20.2 23% Others

Sources of FDI (2017)

30% 25% Japan


South Korea
Singapore
6% China
2013 2014 2015 2016 2017 24% Others
15%

Vietnam has received investments from foreign partners, mostly Japan and
South Korea to key sectors like processing/ production, utilities & real estate.
Sources: Ministry of Planning
Inflation & Minimum wages
Inflation (2009-2017) Minimum wages in 2018 and 2019
4,180,000
18.6% 3,980,000
4,000,000 3,710,000
3,530,000
3,250,000
3,090,000 2,920,000
3,000,000
2,760,000

2,000,000
9.2% 9.2%

6.9% 6.6%
1,000,000

4.1%
3.5%
2.7%
0
0.6% Region I Region II Region III Region IV
2018 2019
2009 2010 2011 2012 2013 2014 2015 2016 2017 (*Details in the Decree 157/2018-ND-CP & Decree 141/2017/ND-CP)

Inflation had been curved down, staying at 3.5% in 2017. Minimum wage in
region I cities is 4,180,000 VND in 2019.
Sources: General Statistics Office of Vietnam (2019, 2018); Ministry of Labor, War Invalids, & Social Affairs
Acceleration of middle class
2018 2026 (est.)

13% 26%

Middle and affluent class (MAC) is expected to


increase in share from 13% to 26% in 2026.
Sources: World Bank (2019)
Retail market in Vietnam
Key takeaways
Continuing growth HCMC & Hanoi leading the growth Strong MT increase in second cities
(billion USD) 18 Retail revenues by region Growth rate of 2019 over 2018
142 0
HCM/
22% Other cities
HCMC Hanoi

Supermarket 10% 23%


11% Hanoi
67% Department
Other cities 11% 34%
Store
2018 2020

Retail market is expected to reach $180 HCMC and Hanoi alone account for 1/3 of MT stores are growing faster in other cities
billion in revenues in 2020. total retail revenues. than in HCMC and Hanoi.

Vingroup is expanding fast in MT CVS in the increase Booming E-commerce


Vingroup shares CAGR of CVS retail sales Online retailing B2C revenue
for 2017-2021 period (2014-2020)
30% 37.4%
49% 24.2% (billion USD)
67% 10
15.8%
10.5% 10.3% 7.1% 6.6%
5.5% 6.2
70% 4.07 5
51% 2.97
33%

Supermarket CVS Department store 2014 2015 2016 2017 2020 (est.)

Vingroup is expanding fast, taking up 70% CVS number will continue to grow. CVS sales Online B2C retailing is to reach $10 billion in
shares in department stores. are projected to grow 37.4% CAGR until 2021. 2020. Spending per online shopper is rising.
Retail market growth in Vietnam
Vietnam’s retail revenue and growth rates
(2013-2018, billion USD)
142
126
115
103
94
85

2013 2014 2015 2016 2017 2018

Retail revenue reached $142 billion in 2018 - the


highest ever recorded and expected to reach $180
billion in 2020.
Sources: General Statistics Office of Vietnam
HCMC & HN leading the growth
Retail revenues by region

22%

57% 11%

4%
4%

2%

HCMC Hanoi Dong Nai


Binh Duong Hai Phong Other cities/ provinces

HCMC and Hanoi alone account for 1/3 of total


revenue sales (HCMC’s is double that of Hanoi).
Sources:
Sources: General Statistics Office of Vietnam
Deloitte (2019)
Retail trend 1 - MT increase in 2nd cities

Modern trade increase in Vietnam


Supermarket Department store

161 55
131
41
108
22

136 150
121 37 37 41

2017 2018 2019 2017 2018 2019


HCM / HN Other cities HCM / HN Other cities

The modern trade increases more outstanding in


second cities.
Retail trend 2 - Dominance of Vingroup

Supermarket Convenience store Department store

30%
33%
49%
51%

67% 70%

Vingroup share in Vingroup share in


Vingroup share in CVS
supermarket department store
Others Others Others

Vingroup leads modern trade increase, with dominant


share in department, CVS and supermarket.
CVS = Vingroup + Shop&Go
Retail trend 3 - CVS on the increase
CAGR of CVS retail sales Target stores of main convenience store brands
for 2017-2021 period
37.4% Brand Target Current
store #

7-eleven 1,000 stores in 2027 27


24.2%

B's mart 3,000 stores in 2027 125


15.8%

10.5% 10.3% Familymart 1,000 stores in 2020 151


7.1% 6.6% 5.5%
GS25 2,500 stores in 2028 32

Ministop 800 stores in 2018 115

Vinmart+ 4,000 stores in 2020 1,465

Vietnam is expected to outgrow its neighbors in CVS retail sales.


Sources: IGD Research
Retail trend 4 - Severe competition and market exit
Despite of the strong MT increase, the competition is getting more severe.
Several M&A as well as exits from the market

Once under the group of Aeon, now Fivimart Shop&Go operations are taken over by
was acquired by Vingroup Vingroup in 2019

Vien Thong A, electric chain established in Despite of market entry in 2015, decided to
1997, was acquired by VinGroup in 2018 sell 18 stores in 2019 to exit from the market
Motivations to use MT / GT

MT channel GT channel

No.1 Product quality Competitive price


56% 69%

No.2 Transparent country origin Easy to order/buy


54% 68%

No.3 Diverse products Diverse products


52% 58%

No.4 Store's credibility Store's credibility


49% 35%

No.5 Competitive price Product quality


49% 35%

MT channel is chosen for product quality while competitive


price is the biggest motivation for shopping at GT stores.
Source: Q&Me
Retail 4.0 activities in Vietnam
Scan and Go at Vinmart

Download VinID app Scan QR codes of products Pay Receive products

Vinmart virtual store Vinmart’s virtual shopping catalogue

Technology has been employed in retail to provide


customers with new shopping experiences. Vingroup
is the most active.
Vietnamese online shopping trend
Key takeaways
Online shopping popularity Popular products Popular EC sites for online shopping

20%
No.1 75%

No.2 70%
80%
Fashion IT Cosmetics
78% 50% 44% No.3 58%
Up to 80% have shopped online.

Online shopping frequency Monthly spending for online shopping Payment methods in online shopping

21% <=300,000 20%


17% 30% 18% 35% 30% Cash on
300,001-700,000 delivery
10% 700,001-1,000,000 Others
Weekly and more
>1,000,000
Once - A few times / month
Once / several months 80%
39%
Never / Rarely

17% shop weekly, 30% buy monthly. Nearly 70% spend less than 700K Cash is still dominant method.
Online shopping market in Vietnam
Online retailing B2C revenue Average annual spending of one online shopper
(Billion USD)
(2014-2020) (2014-2018)
12 9.0%
5.0%
10 8.0%
10

7.0% 3.6%
$350
8

6.2 6.0%
3.0%
2.8%
6
5 5.0%
$186
4.07
5.0% $170
4
$160
2.97 3.6% 4.0%
3.0%
2 2.8%
3.0%
2.1%
0 2.0%
2014 2015 2016 2017 2020 (est.) 2015 2016 2017 2018

B2C revenue % of total retail sales

E-commerce’s growth is projected to continue in the following years. Between


2015-2018, annual spending of one online shopper almost doubled.
Sources: Vietnam eCommerce and Digital Economy Agency
Online shopping usage

20%

80%

Yes No

80% said to have shopped online before.


Source: Q&Me (2018)
Reasons for online shopping
Easy to ask PG/ call center 21%
WOM 29%
Flexible return policy 32%
Good customer service 33%
Diversified payment methods 38%
Store's credibility 42%
Product quality 43%
Fast delivery speed 44%
Diversified products 48%
Easy for ordering/ booking 50%
Attractive promotions/ discounts 55%
Competitive price 55%

Pricing / promotions are the key factors, as well as the convenience

Source: Q&Me (2019)


Popular online shopping items

1.88%
Fashion (73%)69% 30% phones
2. IT/Mobile 68%
(36%) 73%
3. 19%
Cosmetics (33%)

50% 35% 52% 31% 44% 28%

Source: Q&Me (2018)


Popular EC sites for shopping
75%
70%

58%
54%

44%

35%
25%
22% 22% 21%
20% 18%
17%
14%

5%
2% 1% 2% 1%
Shopee Lazada Tiki Facebook Sendo A day roi The gioi di Cho Tot HotDeal Zalo
dong

Have used Use most

Shopee, Lazada and Tiki are the 3 most popular EC sites. Facebook comes at 4th.
Q. Q&Me (2018)
Online shopping frequency & Spending
Online shopping frequency Average monthly spending for online
shopping

17% 21%
30%
35%

10%

30%

18% 39%

Weekly and more Once - A few times / month

Once / several months Never / Rarely <=300,000 300,001-700,000 700,001-1,000,000 >1,000,000

17% shop weekly, 30% buy monthly. Nearly 70% spend less than 700K a month for
online shopping.
Q. Q&Me (2018)
Payment in online shopping

20%

80%

Cash on delivery Others

COD is still the dominant method.


Source: Q&Me (2018)
Popular medias and information sources
Key takeaways (1)
Increased time spent on Internet Smartphone used most to access Family & friends are trusted most
Internet
Media consumption of 92%
Vietnamese No.1 Family 65%
66%
79%
114 Other media 40% 37%
147
Internet Mobile 9% 6% 2%
103 166
Internet PC
No.2 Friends 63%
134 118 Smartphone Note PC Desktop PC Tablet
Used devices Device used most
2016 2019
No.3 TV programs 39%
Time spent on Internet increased significantly, Almost 80% access Internet most often
especially on mobile. through their smartphone(s).

Facebook is the most used SNS Social media motivations Popular contents
49%
No.1 95% 44% 44%
40%

34%
No.1 No.2
No.2 91% Catch up with friends/ family Get news
Contents Contents Contents Contents Contents
with video with with Game with Q&A with
celebrity infographics

No.3 90% No.3 Videos are the most liked content to follow on
No.4
Read entertainment news Meet new friends social media, followed by celebrity contents.
Key takeaways (2)
Internet ads effectiveness Popular ad posts
Ad clicking in last 7 days Made purchase after clicking ads

36%
51% 49% 1. Attractive promotions (58%) 2. Products match my interest (58%)
64%

64% have clicked on ads in last 7 days and 49% have made
3. Impressive (57%) 4. Fun (51%)
purchases after clicking on ads

Popular ad channels

53%
42%

20% 20% 19%

Facebook Youtube On mobile applications Internet sites Social media other than
Facebook
Facebook and YouTube are the channels where people are most likely to click on ads
Changes in daily media consumption (by minute)
2016 2019

Others, 33
Others, 56 TV, 81
TV, 91

Total Total
Internet Internet
(Mobile), 384 mins (Mobile),
398 mins
103 166 Internet
Internet (PC), 118
(PC), 134

People spend much more time for Internet, especially on mobile phone, in 2019 compare
to 2016.
Source: Q&Me (2019)
Changes in access devices
2016 2019
92%
77%
79%
64%
66%
50%

33% 40%
37%
26%

13%
8% 6% 9% 6%
2%

Smartphone Note PC Desktop PC Tablet Smartphone Note PC Desktop PC Tablet

Used devices Device used most Used devices Device used most

92% used smartphone to access internet in 2019 compare with 77% of 2016.

Source: Q&Me (2019)


Trusted information sources

Family 65% Friends 63% TV Program 39%

TVCF 40% Youtube 25% Internet Ad 21%

Source: Q&Me (2019)


Social network - Popular services
95%
91% 90%

39%
35%
32%
26%
21%
15% 14% 14%
11%

Facebook Facebook Zalo Instagram Skype Zing Me Viber Twitter Line LinkedIn WhatsApp SnapChat
Messenger

Facebook (including Messenger) and Zalo are two most popular messaging
apps.
Source: Q&Me (2019)
Social network - Motivations to use
Others 1%
Co-ordinate events 3%
Provide reviews or opinions 7%
Find dates 7%
Follow celebrities 9%
Follow brands or business 11%
Play games 13%
Share photos and videos 26%
Meet new friends 30%
Read entertainment news 39%
Get news and information about events 48%
Catch up with family and friends 76%

Social network services works as the information hub to communicate with friends /
families, as well as receiving information / news.
Source: Q&Me (2019)
Social network – Popular contents
2016 2019
10% 9% 7% 11% 9% 12%
15% 15% 19%
27% 10% 11%
13% 12%
21% 15%
18% 20%
21%
32% 37%
22% 32% 38%
29% 39%
31% 27%
26%

30% 30%
19% 19% 27% 28%
20% 17% 26%
24%
12%
17% 21% 20% 17% 19% 17% 16% 14%
9% 10%

Contents with Contents with Contents with Contents with Contents with Contents with Contents with Contents with Contents with Contents with
video celebrity Game Q&A infographics video celebrity Game Q&A infographics

Like it very much Like it So so Dislike Dislike very much Like it very much Like it So so Dislike Dislike very much

People tend to like video contents on Facebook a lot more in 2019. On the other hand,
they are also attracted by contents with celebrities in 2016.
Source: Q&Me (2019)
Most-followed celebrities on Facebook

Tran Thanh Tran Khoi My Vo Hoai Linh Son Tung MTP Ho Quang Hieu
10 993 053 followers 10 574 324 followers 10 130 668 followers 10 008 782 followers 8 434 729 followers
MC/Comedian Singer/Actress Comedian/Actor Singer/Actor Singer

Dong Nhi Chi Pu Minh Hang Hariwon Kelvin Khánh


8 225 922 followers 8 023 573 followers 7 731 162 followers 6 290 486 followers 6 103 529 followers
Singer/Musician Model/Singer Singer/Actress Singer/Actress Singer

Source: https://www.socialbakers.com (May 2019)


Popular celebrities on Facebook

Ly Hai Minh Ha Bao Thy Thuy Tien Nhat Kim Anh Nabi Nha Phuong
5 838 763 followers 5 544 473 followers 5 457 607 followers 5 212 951 followers 5 037 965 followers
Singer/Actor Singer Singer Singer Actress

Ngan Khanh Ho Ngoc Ha Le Thi Huyen Anh Tuan Hung Khac Viet Singer
4 587 229 followers 4 427 913 followers 4 216 594 followers 4 143 640 followers 3 649 705 followers
Singer Singer Model Singer Singer/Musician

Source: https://www.socialbakers.com (May 2019)


Social network - Ad effectiveness

36%
51%

64%
49%

Those who clicks ad (in last 7 days) Those who have purchased
products from ads

64% have clicked on ads in the last 7 days. 49%


have made a purchase at least once before.
Source: Q&Me (2019)
Social network - Popular ad posts
7% 7% 7% 8% 11% 9% 10% 12%
8% 7% 18%
9% 10% 24%
11% 12% 34%
15%
16%
25% 25% 28% 21%
31% 20%
34% 35%
38% 21%
43%
32% 33% 32% 36%
33%
31%
26% 27% 29%
21%
19%
16% 18%
26% 26% 25% 11%
20% 18% 17% 16%
10% 7% 7% 5%
Good Products / Impressive Fun Ads with good Ads of the Ads with Ads with big Ads that I had Video ads Ads that are
promotions / services sound famous brand celebrities previously repeated
discounts match my looked / often
interest browsed at
other sites

Highly likely to click Likely to click So so Unlikely to click Very unlikely to click

Attractive ads have either ‘Good promotions’; ‘Products match audiences’ interest’ or
‘Impressiveness’.
Source: Q&Me (2019)
Social network - Popular ad channels
2016
53%
2019
49%

42%

31%

20% 20%
18% 19% 18% 18%
17% 16% 15%
11% 11%

4%
1%

Facebook Youtube On mobile Internet sites Social media Video sites other Facebook Others Do not click on
applications other than than YouTube Messenger any ads
Facebook

Ads on Facebook and YouTube are most likely to be clicked/viewed. The likeliness to
click the ads of YouTube in 2019 is higher than 2016.
Source: Q&Me (2019)
Investment in educations
Key takeaways
Rising demand of studying abroad Top destination countries Studying abroad funding sources
Number of Vietnamese students
studying abroad (2012-2017)
10%
82,159 82,160
68,046 Have
55,980 59,468 22,172 students (2017) 19,152 students (2017)
53,835 scholarships

Self-financed
90%
2012 2013 2014 2015 2016 2017 15,298 students (2017) 4,400 students (2017)

The number of students studying abroad has The U.S is the most popular countries for Only 10% have scholarships, the others are
been on increase. overseas students, followed by Japan. self-financed students.

Increasing demand of private courses E-learning usage


Workers Students Workers Students

Languages (60%) Languages (64%) Online


10%
11% Both online &
40% 43%
Sports Sports offline courses
(28%) (31%)
Offline
17% 79% (physical
Life/ soft skills Sciences class)
(27%) (22%)
More than half workers take online courses
while only 21% students do so.
Introduction of Vietnam education system (1)
University Education College Education
(Duration: 4-6 years) (Duration: 3 years)
(18 – 22 years old and over) (18 – 21 years old and over)

High School/Upper Secondary Professional Secondary Vocational Training


(Duration: 3 years) (Duration: 3-4 years) (Duration 1-3 years)
(15 – 18 years old) (15 years old and over) (15 years old and over)

Junior High/Lower Secondary


(Duration: 4 years)
(11 – 15 years old)

Elementary School
(Duration: 5 years)
(6 – 11 years old)

Pre-schooling Education
(Duration:3 years)
(3 – 6 years old)

Education from Grade 1 of Elementary to Grade 9 of Junior High is compulsory.


High school education and above is optional.
Introduction of Vietnam education system (2)
Number of schools Number of students
(School year 2017-2018)
(School year 2017-2018)
113 159,697
2,594

52
60,597

975,295

14,939 7,882,145
12,662
10,887 195,249
5,312,715
4,331,241 267,530
441
2,313,315
2,393 65 1,439,495
170
Kindergarten Elementary Junior High University Kindergarten Elementary Junior High University
High/Lower school/Upper High/Lower school/Upper
Secondary Secondary Secondary Secondary

Public Private Public Private

Vietnam’s education system is largely and mostly made up of public schools.


Source: Ministry of Education and Training
Investment in education of Vietnamese
Hours parents spent helping children Vietnam consumer spending for
with studies in some countries (2018) education (2018)
(Hours/week)

14.0
12.0 8%
12.0
10.2
10.0
8.7
8.0 7.5 7.2
6.2
6.0 5.4 5.0
4.4 4.1
4.0

2.0

-
92%

Traditionally, Vietnam has placed high value on education. In 2018, Vietnamese


spent 8% of their income for education.
Sources: Varkey Foundation/ BMI
Vietnamese aims at international study
Number of Vietnamese students studying
abroad (2012-2017)
90,000
82,159 82,160
80,000

68,046
70,000
59,468
60,000 55,980
53,835
50,000

40,000

30,000

20,000

10,000

-
2012 2013 2014 2015 2016 2017

The number of Vietnamese students studying


abroad is increasing over time.
Sources: UNESCO
Vietnamese aims at international study
- Top destination countries
22,172

19,152

15,298

4,400 3,979
3,432

United States Japan Australia France United Kingdom Korea, Rep.

The U.S and Japan are the most popular destinations.

Sources: UNESCO (2017)


Vietnamese aims at international study
- Funding source

Have
scholarships,
10%

Self-financed,
90%

The majority of people studying abroad self-


finance.
Sources: Ministry of Education and Traning (2016)
Increasing demand of private classes
Top private courses for workers Top private courses for students

Languages (60%) Sports (28%) Languages (64%) Sports (31%)

Soft/ life skills (27%) Business (21%) Sciences (22%) Drawing (20%)

IT (20%) Accounting (17%) Music lessons (20%) Martial arts (13%)

Sources: Q&Me (2019)


Reasons to take private courses

60% 60%
54%

35%

20%
17%

8%

To broaden To develop To improve To find a To have a To entertain To go abroad


knowledge in career one's self good job good health

People take private courses to broaden knowledge/


improve themselves or to develop their career.
Sources: Q&Me (2019)
Increasing demand of private classes: Online demand
Types of classes - Workers Types of classes - Students

10%

11%
40%
43%

79%
17%

Online Both online & offline courses Offline (physical class) Online Both online & offline courses Offline (physical class)

Up to 60% workers and 21% students take online courses.


Sources: Q&Me (2019)
Increasing demand of private classes : Top E-learning websites
Top E – learning website for workers Top E – learning website for students

Unica.vn Hocmai.vn Moon.vn


Edumall.vn Real shop preference
Web access: 2,076,000 Web access: 5,159,000 Web access: 2,076,000
Web access: 5,159,000 Fee: 100,000 - 600,000
Fee: 200,000 - 2,000,000 Fee: 300,000 - 1,000,000
Fee: 500,000 - 5,000,000 Teaching subjects at the
Provide various courses for Teaching all subject at the
Teaching various courses, school for students
worker, university students school for students
especially for worker

Kyna.vn Topica.edu.vn Kyna.vn


Web access: 1,651,000 Web access: 1,459,000 Tienganh123.com
Web access: 1,651,000
Fee: 200,000 - 5,000,000 Fee: 2,000,000-10,000,000 Web access: 1,651,000
Fee: 200,000 - 5,000,000
Teaching all subjects that English, business course Fee: 200,000 - 5,000,000
Teaching all subjects that
are suitable for any level for workers and university Teaching English for
are suitable for any level
from students to officers students. children and adults
from students to officers
Increasing demand of travelling
Increasing demand of travelling
72%

53%
48% 48% 47% 46%
41%

48% intend to spend their spare cash on


holidays.
Sources: Nielsen (2018)
Domestic and outbound travel demand
Domestic travelers International trips by Vietnamese
80,000
73,200
travelers
8,600
62,000 7,500
57,000
6,500
6,000

38,500
35,000
32,500
28,000 30,000

2010 2011 2012 2013 2014 2015 2016 2017 2018 2015 2016 2017 2018 (est.)
(Thousands of departures)

The number of domestic travelers increase by every year.


Sources:
Sources: Q&Me (2019)
vietnamtourism.gov.vn/ ASEAN Travel
Domestic travel - New attractions/ services

Golden Bridge (Da Nang) Hon Thom Cable Car (Phu Quoc)
The Landmark 81 (HCMC)
A scenic overlook of a 150-metre-long Honored by the World Guinness as the
The tallest building in Vietnam
pedestrian bridge in Bà Nà Hills resort “World’s longest cable car system”

Van Don International Airport


Hon Gai International Harbour
(Quang Ninh) Bamboo Airway
(Quang Ninh)
Located on the coast of Quang Ninh,
The harbor can receive the world’s A low-cost airline, opened in Jan 2019
the airport covers an area of 325 ha
largest cruise vessels
and contains one single runway
Outbound travel - Countries Vietnamese wish to visit
Japan 24%

Korea 20%

Thailand 12%

Singapore 11%

America 7%

China 5%

France 5%

Australia 3%

England 3%

Japan and Korea are 2 countries that Vietnamese wish to visit most.

Sources: Q&Me (2019)


Outbound travel - Travel motivations
Good scenery and culture are biggest reason for selecting a
country, although distance, cost and food also have high
impact.

Good scenery 38%

Interesting culture 36%

Near distance 26%

Good cost 25%

Good food 25%

Good for shopping 20%

Good entertainment 19%

Good beach 10%

My family / friends took me there 9%

Learning new things 9%


Key technology adoption in Vietnam
Key takeaways
Smartphone penetration Ride hailing app usage Online food delivery service usage

33% 34%
42% Yes, I have used
Smartphone Yes, I have used

Feature phone No, I haven't 58% No, I haven't


67%
66%

67% of mobile phone users own a 58% of food delivery service users have used
66% have used ride hailing apps.
smartphone(s). the online food delivery portals.

QR code usage QR code & Mobile payment Increasing usage of E-wallet


Value of fintech market Top E-wallets
14% 23% 7% 38% 18%
No.1 85%
38% Yes, I have used
Use it regularly
$11.1
Have used it before 62% No, I haven't billion
Never used (but know how to use it) (2020F) No.2 36%
Never used and do not know how to use it
I do not know

Only 38% QR code users use QR code for No.3 21%


37% have used QR code before. mobile payment.
High Internet and smartphone penetration
Internet users of some SEA countries Mobile phone usage
Smartphone ownership
(millions)
(2019)
(2019)
250
2%
215 1%

200
33%

150

97%
100 92 93
82
59 67%
55
44
50 38
28
22
5 6
0
Thailand Indonesia Vietnam Philippines Malaysia Singapore Own Smartphone
Share
2015 2020F Do not use Feature phone

Vietnam is forecasted to have 82 million Internet users by 2020. Among people


who own mobile phones, 67% have smartphones.
Source: World Bank/ Pew Research Center (2019)
Smartphone brand recognition

98% 97% 94%


88% 87% 86%
73% 72% 71%

Samsung Apple Oppo Sony Nokia HTC Asus Xiaomi Huawei

Source: Q&Me (2018)


Popular apps in Vietnam
No. Free Paid
1 Messenger Pocket Quarium

2 Zalo WiFi Master Pro – WiFi.com

3 Facebook The Greedy Cave

4 Youtube Analog Paris

5 PUBG Mobile VN Kirakira+

6 Sendo NewBorder

7 Ulike Forest – Stay focused

8 Tiktok Gudak Cam

9 Zing MP3 TouchRetouch

10 Shopee @picn2k camera

Source: Appannie.com
Rising trend (1) - Ride hailing app
Those who have used ride sharing app

34%

66%

Among people who use ride sharing services,


Grab is dominantly used, then Go Viet.
Source: Q&Me (2018)
Rising trend (1) - Ride hailing app key players
Grab is launched in Vietnam in Feb, 2014. After merged with Uber in 2018, Grab becomes No.1 Ride
hailing app in Vietnam market.

Go-Viet is a partner of Go-Jek – Technology start up in Indonesia. Go-Viet started Go-Bike service in
Ho Chi Minh City on June and Ha Noi in September, 2018.

Be ride hailing service launched in December, 2018. This is a Vietnamese company.

VATO is invested by Phuong Trang transport company in April 2018. With VATO, customers can
bargain with drivers in peak time.

FASTGO is developed by Vietnamese and provide service in Ha Noi in June and Ho Chi Minh City in
August, 2018.

XELO is developed by Skysoft – a technology company and launched in May 2018. Xelo combine
between E-booking bike/ car and traditional booking taxi.

ABER – Local brand – is launched on June 2018. Aber aimed to recruit old Uber, Grab drivers with
well-paid and bring good experience to customers.
Rising trend (1) - Ride hailing app popularity
Ride sharing app popularities Grab vs Go-Viet: Reasons to choose
98% Grab
Go-Viet

60% 60%
52%
48%

37% 39%
36%35% 36%
33%

29% 26%

6% 6% 4% 4%
1%
Convenience Transparent Good price App is easy Short waiting Attractive
Grab Go-Viet VATO Aber Fast Go Xelo pricing to use time promotion

Among people who use ride sharing services, Grab is dominantly used, then Go
Viet. Primary reason to choose Grab is convenience when Go-Viet’s is price.
Source: Q&Me (2018)
Rising trend (2) -
Online delivery service popularity
Food delivery service users Food delivery app users

34%

42%

66%

58%

66% use the food delivery services. Among


food delivery service users, 58% have used
food delivery apps.
Source: Q&Me (2018)
Source: Q&Me (2018)
Rising trend (2) -
Popular food delivery apps
57%

50%

35%

14%

7%
2%

Foody Delivery Now Grab Food Vietnammm Chonmon Others

For online food delivery services, Now and


Grad Foob are the most popular portals.
Q. How do
Source: you (2018)
Q&Me normally make your order?
Rising trend (2) - Food delivery service - Reasons to use
Motivations to use delivery services Delivery locations

Bad weather 54%


My home 72%

Want to eat quick 53%

Office 66%
Too busy to cook 45%

Want to enjoy the meal from the


41% Location that I hang out with my
delivery store 30%
friend

Unwell/sick 39%

Family gathering places 25%


Don't want to cook 31%

‘Bad weather’ is most common occasion to use food delivery services. People
often order their food to be shipped to their home or office.
Source: Q&Me (2018)
Rising trend (3) - QR code popularity
QR code recognition QR code usage

18% 18% 14%

39%

82% 37% 23%


22%

38%
7%
21%

I know it Use it regularly


I know it (after seeing the visual) Have used it before
Never used (but know how to use it)
I have seen it (after seeing the visual) Never used and do not know how to use it
I do not know I do not know

No more than 37% have used QR code before including 14% of regular users.

Source: Q&Me (2019)


Rising trend (3) - QR code usage
Purpose to use QR code Popular apps where QR code is used

Zalo 83%

Momo 22%
43%
62% 62% 63% Facebook 18%

Zalo Pay 15%

Bankplus 9%

Viettel Pay 7%
57%
Samsung Pay 4%
38% 38% 37%
Ngan Luong 2%

Payoo 2%
Add new friends Access website Mobile payment Show QR code
in SNS / facebook / to be added in Others 15%
campaign SNS

Only 38% of QR code users use it for payment purpose. The most common app to use
QR code is not mobile payment apps but Zalo.
Source: Q&Me (2019)
Rising trend (4) - Fintech overview
Number of non-cash transactions per Digital payment revenues in Vietnam
169.1 capita (million USD) 11.1

6.4

89.0 2018 2022

Digital payment contribution (2018) Licensed payment services


59.7
2.4%
25.9%

7.6 4.9 4.4 74.1%


97.6%

Singapore Malaysia Thailand Indonesia Vietnam Philippines E-Commerce Others E-wallets Others

Fintech penetration in Vietnam is still very low. Nevertheless, this sector is


growing fast, expected to reach $11M in 2022.
Source: World Bank/ Statista/ State Bank of Vietnam
Rising trend (4) - Fintech / E-wallet popularity
E-Wallet penetration trend among Popular e-wallet services
mobile internet users 85%

CAGR 2013-2015
11%
Indonesia 130%
10%

17%
Philippines -18%
11%
36%
16%
Vietnam 16%
12% 21%
17% 16% 16% 15% 14%
8%
Thailand 25% 6% 6%
11%

23%
Singapore 6%
4%

2015 2013

E-wallet users in Vietnam is on the increase. Momo is the most popular service, followed
by ZaloPay.
Source: Q&Me (2019)
Rising trend (4) - E-wallet usage
Hotel booking 12%

Buy transportation ticket 13%

Pay for Grab, taxi 23%

Pay for food order 27%

Buying cinema ticket 40%

Pay when shopping online 41%

Pay bills 43%

Transfer/receive money 44%

Buy mobile cards 63%

Top up mobile account 67%

Source: Q&Me (2019)


Rising trend (4) - E-wallet satisfaction
Customer satisfaction Satisfaction Dissatisfaction

Fast payment process Payment risk/error


1%
14%

Easy payment process Need the Internet

Not many promotions (as I


Many promotions/ discounts
want)

Not many places accept this


Low transaction cost
yet
85%

No need to carry lots of cash Security concerns

Satisfied Average Dissatisfied

Most are quite content with E-wallet services they’re using.


Source: Q&Me (2019)
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