Jan 30 2023 FM Consumer Confidence INDEX Report Final.pdf

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Prepared by:
Infocus Mekong Research
January 30 , 2023
IFM CONSUMER CONFIDENCE INDEX JANUARY 2023

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Consumer Confidence 2023

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COVID EMPLOYMENT IMPACT
Base: 10,028
Jan. 2023 86% 12% 2%
July 2022 83% 14% 3%
Feb. 2022 77% 19% 4%
Oct. 2021 58% 32% 10...

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IFM CONSUMER CONFIDENCE INDEX 2023
Base:15,185
2020 - 2023 CONSUMER CONFIDENCE
Before COVID-19 COVID Wave 1
Consumer con...

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VIEW OF VIETNAM’S ECONOMY – JAN 2020 – JAN 2023
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Though more are optimistic than not, over a quarter see the economy as...

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Base: 10,147 6
TOP FEARS - 2020 – 2023
Inflation has jumped to the forefront of consumers fears, followed by Pollution, ...

54%
48%
41%
35%
38%
2019 2020 `July 21 22-Jul Jan-23
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LOANS TAKEN OUT IN PAST 12 MONTHS
Base: 12,127
LOANS / LENDING AND ...

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Purchase behavior

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10%
13%
16%
13%
23%
20%
12%
16%
37%
30%
30%
40%
41%
35%
28%
33%
27%
17%
17%
30%
23%
18%
Education
Food & beverages produ...

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9%
8%
8%
19%
11%
17%
10%
14%
32%
27%
30%
48%
38%
38%
47%
35%
34%
22%
23%
39%
23%
19%
Food & Beverages products
Health c...

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SPEND INCREASE BASED ON CONSUMPTION VS INFLATION
Industry Growth Increase consumption Increase in cost / inflation Actu...

AVERAGE MONTHLY SPEND ACROSS CATEGORIES
Necessity spending continues to grow, taking up 60% of total spend – with a large ...

AVERAGE MONTHLY SPEND ACROSS CATEGORIES
Cautious optimism, or worry for the future – many consumers are putting money away...

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METATREND = a change that changes change

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Base: 1017
1. ONLINE AMPLIFICATION
Though not by much, Online spend is somewhat in decline, as consumer go back to pre-...

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6% 5% 4% 2% 1%
2. CONSUMPTION GROWTH - IMPACT ON BIG TICKET PURCHASE ITEMS
Base: 2,045 What did you Purchase in 2020 an...

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2. CONSUMPTION DECLINE - IMPACT ON BIG TICKET PURCHASE ITEMS
Declining items are: Home renovations, Motorcycles, Insura...

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17%
10% 7%
34%
8% 5%
18%
31%
13%
7%
21%
41%
House Apartment Land Total
LAND GRAB BOOM
2020 2022 2023
Even though the Re...

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21%
-41%
-32% -36%
-46% -49%
-54%
32% 34%
21% 21% 19%
-9%
-28.0%
19%
13%
5% 7% 6%
-35%
-4%
2021 2022 2023
Online Shoppi...

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4. OUTLET TYPE FUTURE USAGE
All non essential retail outlets may experiences negative growth in 2023
Not surprisingly, ...

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2023 Business sentiment
2023 Business Confidence

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Business sentiment – whom we talked too
377 business owners
36%
34%
20%
8%
2%
Company size
self employed
1-5 Employees
...

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Optimism Abounds
12% 55% 33%
2022 Revenue / Budget Company performance
Ecxeeded Budget Achievd busget Did not achieve b...

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Uncertainty
Positives BUT…..
Employment at its highest in years Many Factories, Real estate companies cutting staff
Con...

SAMPLE PLAN Jan, 2023
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SEC Household Income bands Total
A 30,000,000 VND and more 18%
B 20,000,001 - 30,000,000 VND 33%
...

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Ralf Matthaes | Managing Director
Email: Ralf.matthaes@infocusmekong.com
Website: www.ifmresearch.com
Wish to know more?

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