Vietnamese consumers favour a sharing economy model as a majority of respondents say they like using shared products or services, the Saigon Times Daily reported, citing a survey recently conducted by Nielsen.
In a share economy, also known as collaborative consumption and peer-to-peer rental arrangements, consumers rent or share items they own, such as furniture, sports equipment, cars and homes, or services they have, for a profit.
Revenue gained by consumers turning personal assets into income via a share economy in Southeast Asia is expected to surpass 3.5 billion USD this year, with growth exceeding 25 percent.
The survey indicates 76 percent of respondents in Vietnam say they like using shared products or services. The ratio in the Philippines is 85 percent, Thailand 84 percent, Malaysia 74 percent, and Singapore 67 percent compared to the 66 percent globally.
Electronic devices are among the most common items consumers in Southeast Asia are willing to share or rent, according to the survey.
More than two in five consumers in Vietnam (42 percent) would rent their electronic devices for a fee, along with 37 percent of Indonesians, 33 percent of Filipinos, 31 percent of Thais, 26 percent of Singaporeans, and 24 percent of Malaysians.
Other items consumers in the region are willing to rent include lessons and services, cars and motorbikes.
Nielsen said that Southeast Asia was among the most-receptive to the share economy proposition, with four of the top five markets prepared to share or rent their personal assets for financial gain hailing from the Southeast Asia.
Just 12 percent of consumers in Thailand are unwilling to share or rent their personal assets, 13 percent in the Philippines, 14 percent in Indonesia, 18 percent in Vietnam, and 28 percent in Malaysia, it said.
Singaporean consumers are the least open to the notion among Southeast Asian consumers (32 percent unwilling to participate), which was on par with the globally average.
Vishal Bali, Nielsen’s Managing Director of Consumer Insights in Southeast Asia, North Asia and Pacific, said in a statement released on June 3 that while income levels across the region were increasing overall, many consumers were constantly seeking out opportunities to supplement their income through alternative means, and sharing or renting items they possess for a price achieves just that.
“Underpinning the emergence of share communities is the rapid increase in internet penetration across the region. Connectivity is a key factor for these communities and as such, we expect growth levels to continue in the coming years,” Bali said.-VNA
In a share economy, also known as collaborative consumption and peer-to-peer rental arrangements, consumers rent or share items they own, such as furniture, sports equipment, cars and homes, or services they have, for a profit.
Revenue gained by consumers turning personal assets into income via a share economy in Southeast Asia is expected to surpass 3.5 billion USD this year, with growth exceeding 25 percent.
The survey indicates 76 percent of respondents in Vietnam say they like using shared products or services. The ratio in the Philippines is 85 percent, Thailand 84 percent, Malaysia 74 percent, and Singapore 67 percent compared to the 66 percent globally.
Electronic devices are among the most common items consumers in Southeast Asia are willing to share or rent, according to the survey.
More than two in five consumers in Vietnam (42 percent) would rent their electronic devices for a fee, along with 37 percent of Indonesians, 33 percent of Filipinos, 31 percent of Thais, 26 percent of Singaporeans, and 24 percent of Malaysians.
Other items consumers in the region are willing to rent include lessons and services, cars and motorbikes.
Nielsen said that Southeast Asia was among the most-receptive to the share economy proposition, with four of the top five markets prepared to share or rent their personal assets for financial gain hailing from the Southeast Asia.
Just 12 percent of consumers in Thailand are unwilling to share or rent their personal assets, 13 percent in the Philippines, 14 percent in Indonesia, 18 percent in Vietnam, and 28 percent in Malaysia, it said.
Singaporean consumers are the least open to the notion among Southeast Asian consumers (32 percent unwilling to participate), which was on par with the globally average.
Vishal Bali, Nielsen’s Managing Director of Consumer Insights in Southeast Asia, North Asia and Pacific, said in a statement released on June 3 that while income levels across the region were increasing overall, many consumers were constantly seeking out opportunities to supplement their income through alternative means, and sharing or renting items they possess for a price achieves just that.
“Underpinning the emergence of share communities is the rapid increase in internet penetration across the region. Connectivity is a key factor for these communities and as such, we expect growth levels to continue in the coming years,” Bali said.-VNA
