Báo cáo Kantar về hành vi mua sắm gen Y, Slides of Economics

Download Báo cáo Kantar về hành vi mua sắm gen Y and more Slides Economics in PDF only on Docsity! INTO THE MINDS OF MILLENNIAL SHOPPERS KANTAR VWVc'RLDPANEL Who are the There are over 33 million Born between: Millennials in Vietnam 1 9 8 0 : % Millennials of total population & 2000 18-38 years old | (in 2018) oe eS Include 8x-9x groups Mm Source: World Bank Millennials are very tech-savvy consumers. Online platforms, which are ample in information and trends, influence them day by day. Moving from passive traditional media into more interactive channels, Millennials are also more willing to share opinions and leave reviews for a particular product or service. One downside of having “too much information” is that Millennials are becoming more selective and skeptical of advertising or manufacturers’ claims. Practical, authentic and emotional communication is the most effective way to get their attention. % Individuals agree Mi Older Gen @ 8x M@ ox “1 like to interact “Lam spending more “4 surf the Internet to with people via and more time on get updates about social networks” internet during my the world rather than free time” traditional media” 53 Ma 51% ME 50% EE 60% ME 40% a 67% Ss :) Source: Kantar Worldpanel | Lifestyle survey 2017 | Vietnam Urban 4 Cities | Millennial under 40 y/o  Millennials nowadays utilize digital platforms in every stage of their shopping journey to make decisions. They actively use _ social networks to search for specific products, hunt for deals and promotions, read reviews and share their opinions after purchasing. As _ technology advances, the gap between brands and consumers ‘is lessened and Millennials expect more interactions from brands. Being on social is not enough, brands should determine who their targets are to use the right channel, know what they are looking for, and how to attract and motivate them to spend. % Drinking occasions —=—= Ean — ; a er 2 o Allindividuals 4-6 YO 7-13 YO 14-19 YO 20-29 YO 30-39 YO 40-49 YO 50+ YO =ln-Home m Office/work = Coffee shop mRestaura mSchool/college = Stall/mobile venders = Other out-of-home places Kantar Worldpanel | Drink Usage Panel | Vietnam Urban 4 Cities Millennials’ lives are much busier: they go out more for foods & drinks, they love travelling, watching movies at the cinema, joining social activities or working out at the gym. These trends are observed inthe explosion of not only fast-food, milk tea, and coffee chains, but also other means of entertainment such as spas, gyms, pubs etc. This brings opportunities for both FMCG out-of- home and other non-FMCG sectors to thrive. And marketers have more touch-points that could;be used to ee approach the target consumer thanks to the growing number of outdoor activities. ua. \~ Fe ee eel ee % buyers Rice cracker - Ichi (MAT P3’18) Older Gen 8x Dried Fruits - Vinamit (MAT P6'17) o oo Older Gen 8x A healthy and oie diet is incorporated into eo. lifestyle. Source: Kantar Worldpanel | Households Panel | Vietnam > Urban 4 Cities | FMCG excluding Gift | Millennial under 40 y/o —  63% of Vietnamese Millennials say that they want to see more new products to make their lives easier. In the context of increasing globalization, Millennials are the most responsive to innovative products and concepts, which opens opportunities for brands to experiment and create innovations that fulfill their aspirations. However, Millennials rely on many factors such as trends, viral campaigns or friends/families’ opinions to evaluate new products. As the most avid digital users, they are shaping the landscape of media and have the power to influence other generations. Their prevalence on many media platforms can spread a message or new launch rapidly, which later can be converted into purchase decisions or has impact on brand performance. Kantar Worldpanel | Lifestyle survey 2017 | Vietnam Urban 4 Cities | Millennial under 40 y/o  It’s much harder ] nowadays to create “true” innovations that answer to Millennials’ diverse needs. A brand's success is not about huge investments, it’s about bringing the values that Millennials are looking for. Did you know? The younger (90s) group, on average, shops. at over 7 types of shopping channels.  Millennials are at an age where their personal and professional lives are just beginning to mature. Some of these young adults are settled down while some just start their careers, which explains their lower purchasing power compared to the older groups. This does not mean they are shopping cheaper, but indeed, smarter. Millennials are willing to pay premium price for products that strongly associate with their lives and identities. For a Millennial, a good deal is not always the lowest price, but the most benefits at a fair price. They also take time doing research, have their own opinions and want to experience products in reality before making a purchase, especially for high value items. Brands should consider launching samples or designing smaller packs which support trials to better convince Millennials. % Volume Share SHAMPOO 43 47 t Older Gen 40 52 6 Millennials Lower tier = Premium ™ Super Premium Older Gen 61 25 & | 54 30 iB Millennials Lower tier @High m Premium Lower tier INSTANT NOODLE 73 af 69 31 Lower tier Premium 50 AG } Affordable premium Premium Source: Kantar Worldpanel | Households Panel | Vietnam Urban 4 Cities | FMCG excluding Gift | 2018 | Millennial under 40 y/o