Customers at a supermarket (Photo: VNA) HCM City (VNS/VNA) - Consumer habits have changedgreatly during the COVID-19 pandemic, opening up opportunities for businessesthat can capitalise on the changes, a recent survey has found.
The survey on the impact of COVID-19 on consumer and businesssentiment in Vietnam was conducted by the Mobile Marketing Association,SurveySensum and Adtima. It shows that the pandemic has changed Vietnameselifestyles, shopping methods, and social interaction.
Consumers have shifted to health and hygiene-focusedlifestyles, with these categories seeing the biggest jump in purchases, whilenonessential and less healthy products experienced a decline in purchases.
Online shopping has risen significantly, with a number ofshoppers using apps to order from nearby stores up by 18 percent. Those who hadgroceries delivered at home were up by 14 percent, shopping online by 9percent, and credit card use by 3 percent.
The lockdown during April gave a rise to new digitalcategories. YouTube, TV and home activities have gained the most duringCOVID-19.
Some 38 percent of the surveyed consumers said they had triede-learning apps online for the first time in the past month, while 23 percentand 21 percent of consumers tried online grocery shopping and movie streamingservices, respectively, for the first time.
Asked about what they want from brands, 61 percent of polledconsumers said they wanted products and services that promise health andwell-being, and 56 percent wanted safe products and services.
To meet this expectation, brands should show how they can behelpful and informative, and should offer a positive perspective and notexploit the pandemic to promote their brands.
According to the survey, consumption of personal hygieneproducts, vitamins, herbal products, and fruits and vegetables has been on therise.
Regarding shopping methods, online groceries will continue onthe rise as well as e-commerce in general.
As for online activities, there has been an increase inonline media, including streaming, online games and social media. Inparticular, consumers are actively searching for health-related information.
In general, the survey pointed out that there will be twogreat opportunities.
Firstly, there has been a rise of social commerce andconversational commerce, or sales through interactive chat and messagingchannels with customers in the online environment.
Brands can start focusing on social commerce andconversational commerce for the future and can achieve two to three times theimpact by leveraging conversational commerce if they make good use of the trend.
COVID-19's effect on consumption and purchase behaviour willbe long-lasting, and brands need to brace for the new digital normal in thepost-pandemic period.
Secondly, brands should look at the crisis as an opportunityto innovate.
The 2008-2009 crisis provided a lesson in experience.According to Gartner’s research, innovative business groups spent an increaseof 3.9 percent for R&D activities. As a result, they achieved a 14 percentincrease in revenue before tax.
In contrast, slowly adapting business groups decided to cutcosts and stop innovation. As a result, their pre-tax revenue only increased by0 to 1 percent.
Therefore, MMA experts believe that brands need to focus oninnovation, keeping in mind the behavioural changes caused by COVID-19, andreinvent supply chains to digitally serve consumers and deliver to their doorstep.
Phan Bich Tam, country manager for the Mobile MarketingAssociation for Vietnam, Myanmar and Cambodia, said: "We firmly believethat what is changing consumer behaviour, especially interaction in the onlineenvironment, is a big step in digital transformation. Businesses see onlinejourney for ‘branding or selling’ as an important part of their journey toconquer customers and take the leading position.”/.
VNA
