Succeed in Vietnam’s Thriving Consumer Market - Introduction and Opportunities for Foreign Brands
Wednesday, 7 December 2022, 4 PM Vietnam | 5 PM China | 10 AM CET
Vietnam has become a top choice for investors in sourcing, manufacturing and more recently, high-tech sectors, thanks to various enabling factors like investment-friendly government policies and an abundant young workforce.
When looking at the latter, it becomes clear that this nation of 100 million people is not only a sourcing destination. It is estimated that 58 million citizens, representing 59% of the Vietnamese population, have entered the consuming class. By 2030, this proportion may rise to roughly 75%, so it is also a strong consumer market of the future that is often overlooked.
Despite a GDP that appears low to other peers in the region, the purchasing power of Vietnam’s middle class has jumped at an unrivaled speed. New consumption power emerges from both those that enter the consuming class for the first time, and from the rapid ascent of this class on the income pyramid. On average, monthly income of the consuming class in Vietnam has increased by 22% during 2016-2021. While the consumer market has been mainly served by players from South Korea, Thailand, Australia and the US, European consumer brands slowly realize the potential, supported by effective free trade agreements.
- The Vietnamese consumer market - characteristics and prospects
- Opportunities in potential industries such as F&B and healthcare
- Case studies of successful market entries of consumer brands
This webinar is free of charge. If you have any questions or concerns, please get in touch with Julia Goeb via email@example.com. We look forward to having you join us in this webinar and answering any questions you might have on the subject.