Nearly 70% of Vietnamese people check prices before purchasing: survey
A NielsenIQ Vietnam survey has found that 36% of Vietnamese consumers shop online to find better prices, and 68% check the price of most products through other channels before buying, up 19% compared to pre-pandemic 2019.
Nguyen Cao Ngoc Dung, senior manager in charge of market development retail measurement at NielsenIQ Vietnam, shared the figures at an event themed Business Secrets in the Context of Changed Consumption organized by the High Quality Vietnamese Goods Business Association on Tuesday in Ho Chi Minh City.
Consumers tend to look for promotional products from brands they love rather than widespread promotions, according to a survey.
Accordingly, 36% of consumers said they shop online to find better prices and save on transportation costs. Consumers prioritize buying familiar brands if the price does not change too much.
About 35% prioritize shopping at stores with promotions or better prices. For example, at the end of last year, Emart in Phan Huy Ich supermarket, Go Vap district, HCMC launched a series of shocking promotions that overloaded the shop.
Other consumer savings strategies include switching to better-priced options and controlling the total spend per shopping cart.
According to Dung, consumers are also very knowledgeable about prices, especially paying attention to price changes for the products they choose to buy.
The survey covered Hanoi, HCMC, Danang, and Can Tho, and discovered that 31% of consumers said they know the prices of all the products they intend to buy; 37% of consumers affirmed that they know the product price and always pay attention to product price changes. Up to 68% of consumers said they knew and cared about prices, up from 58% in 2023.
Consumers tend to look for promotional products from brands they love rather than widespread promotions.
Regarding shopping behavior on online and offline channels, differentiation was found between industries. "Vietnamese consumers prioritize direct shopping for food and beverage products, while online channels will mainly focus on products other than food and personal healthcare," Dung added.
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