Search interest in stocks, cryptocurrencies rises by over 100 percent: Google

HCM City (VNS/VNA) - From shopping to services, Vietnamese are choosing a digital-first lifestyle to benefit from the online world’s speed, convenience and prices, according to Google’s 2021 Year in Search: Vietnam's Search for Tomorrow report.

The report uses anonymised search data to identify the top consumer trends that will help guide businesses’ marketing strategy.
Google Search has become an indispensable part of people's daily activities during the pandemic, with the total number of searches rising by 37 percent in 2021 from before the pandemic.

Search interest in online purchases grew by over 42 percent alongside rising searches related to online shopping at major grocery stores.

Besides, users are exploiting the benefits of technology and apps in daily life, with search interest in online banking and applying for cards online rising by over 58 percent and 76 percent respectively, and interest in reviews by 1,250 percent as people research online before committing to a product or service.

Searches related to digital wallets and e-wallets increased by 100 percent.

Vietnam has added eight million new digital consumers since the start of the pandemic, with more than half coming from non-metro areas.

Gross merchandise value for 2021 is expected to hit 21 billion USD, a 31 percent jump underpinned by a 53 percent growth in e-commerce.

The rise in number of users pushed online by the pandemic meant brands had to adapt and digitise at a scale and pace they had never planned for or expected.

In the next five years eight in 10 merchants expect more than half of their sales to come online, and this is prompting many to get tech-savvy, with 81 percent of them likely to increase their use of digital payments in the next one to two years.

The report also pointed out that given the extended pandemic, Vietnamese are re-evaluating their values and lifestyle choices to seek greater comfort and ease in their lives.

Emotional well-being is predicted to be a key focus for people in 2022 as they gravitate towards emotional acceptance and dedicating time to feel.

In addition, even as restrictions ease, it seems a blended way of living is likely to remain. Now that homes often double up as schools or offices, consumers are taking this opportunity to reimagine their domestic spaces. Search interest in decor phòng (room decoration) has risen by 150 percent, with nen thom (scented candles) seeing 100 percent growth.

People are also changing the way they view their finances. While some looked for ways to put their savings to work through investments, others searched for deals and discounts.

They are learning how to invest, with search interest in chứng khoán (stocks) growing by over 106 percent, with the rural population demonstrating an especially keen interest in investing, while search interest in cryptocurrencies remained high and grew at 115 percent.

Also according to the report, with online misinformation and data breaches on the rise, consumers are more sceptical than ever. Wary of being misled and savvier about their choices, they are also more proactive about finding trustworthy sources, using Search to fact-check claims, scrutinise brand values, and ensure authenticity from the brands they choose to engage with.

Consumers today do not just check the list of ingredients on a label, but also want brands to be accountable and transparent at every step of their value chain.

Instead of simply hoping that brands will be true to their word, consumers now expect brands to take proactive steps towards earning and keeping their trust./.