Nearly half of Vietnamese consumers are shifting from the brick and mortar luxury stores to local online retailers to shop for premium products, a latest report by global measurement company Nielsen revealed.
Around 48 percent of Vietnamese consumers are turning to buy premium products at local online shops, compared with 69 percent that still go to local physical stores, according to Nielsen’s Changing Consumer Prosperity report which was released on Tuesday.
In addition, 27 percent of consumers are going online to buy premium products from overseas e-retailers, while 23 percent travel abroad to buy luxury goods right at physical stores there.
The most favorite premium items by Vietnamese consumers are cosmetics (46 percent), clothing/shoes (44 percent), personal electronics (43 percent), body care (41 percent) and meat or seafood (38 percent).
Sixty-five percent of Vietnamese consumers said they are seeking premium products mainly for high-quality and 58 percent for superior performance.
Notably, more than half of respondents are willing to pay a premium for products that contain environmentally friendly materials or natural ingredients.
Positive reviews from friends and families the most important factor Vietnamese consumers take into consideration before buying a premium product, with 50 percent of respondents saying recommendations from their trusted community leading to their decision for trying a product. It is followed by other factors, including their self-research on a product, digital advertisement, and advertisements on TV and in stores.