Nearly half of respondents to Nielsen survey said they buy Vietnamese based simply on origin.
National pride is the key factor in consumers’ choice of local versus global brands in Vietnam. A desire to support home-grown brands makes nearly half of Vietnamese respondents (48 per cent) choose a local brand instead of a global one, according to the Nielsen Global Brand-Origin Survey released on April 29.
Value for money (40 per cent) and having a positive experience with the brand (27 per cent) were also among the major reasons for selecting a product.
The most important reasons for choosing a brand are similar for global and local brands
Source: Nielsen Global Brand-Origin Survey
Local companies also show that they understand the nuances of local consumers.
More than two-thirds of consumers in Vietnam (69 per cent) believe local brands are more attuned to their personal needs and tastes.
Traditionally, local players ruled categories that resonated closely with local nuances, such as food and beverages. And in Southeast Asia these categories still drive the greatest growth for local companies, now at 17 per cent for beverages and 10 per cent for food, according to the report.
Consumers have never before been as informed, empowered and ready to embrace brands that understand their lifestyle requirements and needs, according to Ms. Laura McCullough, Managing Director, Client Service Leader of Growth and Emerging Markets at Nielsen.
“Companies - be they global, regional or local - must ensure their brands deliver on their value proposition and fulfill a critical role in the lives of consumers if they are to win the battle of choice,” she said.