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How big is Vietnam market – Example of cosmetics

How big is Vietnam market – Example of cosmetics

Author: asiaplus

Vietnam now starts to get the attention not only the production country but as the consumption market. Using our service of Q&Me, we researched about consumer behaviors about make-ups, which gives us new findings about consumers in Vietnam.

44% female makes up regularly

As for Vietnamese frequency of wearing makeups, our survey proved that only 24% makes up every day and 44% does at least once a week. 45% mention that they only make up in a special occasions such as parties and dating. The differences against Japan is the make-ups to go to the offices / schools. Only 6% of students and 11% of office workers “always” make up, while the ratio increases to 47% and 61% by including “often” and “sometimes”. Make-up does not become the common customs in those areas yet.

Average monthly spending is 140,000VND ($7 USD)

In terms of the spending on cosmetics, our survey shows that Vietnamese spends on cosmetic items for140,000 VND in average. Only 21% spends more than 200,000 VND. The spending and income has a corelationships. Those who earn less than 5M VND monthly spend 110.000 VND monthly, while those with more than 5M VND income pay 190.000 VND.

“Friends (70%)” and “websites (58%)” are the common information source

When it comes to the information source, “friends (70%)” and “website (58%)” are the most common information source. Among these websites, most popular are “eve.vn (51%)”, “each product website (45%)” and “phunutoday.vn (43%)”.

Korean brands are overwhelmingly popular among Vietnamese

 Regarding brand image of each country, the survey revealed that Vietnamese have  quite positive image about Korean brands. The images, such as “brands for youth (79%)” and “fashionable (76%)” collected three times as high as other countries.

 Korean brand has a good association with “affordable pricing (74%) as well. Actually, if you go to stores, the pricing of some Korean and others do not differ so much but their good store share and frequent promotion seems to make them look worth buying.

The marketers need to communicate the benefit in a right manner.

Through this survey, we had called on several Vietnamese local females. Although they are keen to maintain their beauties, we also find out that some of their customs are not correct. One of the lady, for instance, has mentioned that she does not put lotion at night as she needs to rest her skin after her make-up. This misunderstanding came from the wrong information through her friends and families made her think like those.

These prejudice is the biggest hurdle for cosmetic marketers to sell the value-added products. Still some of the correct cosmetic information is not conveyed properly in Vietnam, which slows down the motivations to buy the middle / high price-point products. The marketers need to utilize the effective medias to communicate the right products in a clear manner.

Author: asiaplus
 

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