When answering about their economic situation, Vietnamese people are generally quite optimistic, although those with lower incomes feel unsure whether the situation will get better in the next six months. Up to 90 percent of Vietnamese people believe that the Covid-19 pandemic affects their families’ income, only one-tenth said that their families are not affected financially.
Households in the low-income group were hurt the most, with 17 percent of them suffering a financial cut of more than 50 percent. Although the general picture is optimistic, 30 percent of consumers do not think that income will improve. Therefore, they will unlikely return to the same spending habits as before when the Covid -19 pandemic is not over. About 23 percent of Vietnamese people are still not ready to rejoin activities in public or crowded places.
From the above results, according to Ipsos analysis, up to 68 percent of Vietnamese people will not travel abroad this year. Most of the consumers experience a sharp reduction in income due to the Covid-19 pandemic, but it will not affect their spending on various essential products.
However, consumer trends have had particular changes. Consumers have shifted to more deliberate choices, reducing unnecessary spending to focus on necessities. Accordingly, changing shopping behavior will possibly be in the long term, instead of a temporary solution to cope with the pandemic.
Households in the low-income group were hurt the most, with 17 percent of them suffering a financial cut of more than 50 percent. Although the general picture is optimistic, 30 percent of consumers do not think that income will improve. Therefore, they will unlikely return to the same spending habits as before when the Covid -19 pandemic is not over. About 23 percent of Vietnamese people are still not ready to rejoin activities in public or crowded places.
From the above results, according to Ipsos analysis, up to 68 percent of Vietnamese people will not travel abroad this year. Most of the consumers experience a sharp reduction in income due to the Covid-19 pandemic, but it will not affect their spending on various essential products.
However, consumer trends have had particular changes. Consumers have shifted to more deliberate choices, reducing unnecessary spending to focus on necessities. Accordingly, changing shopping behavior will possibly be in the long term, instead of a temporary solution to cope with the pandemic.
