Financial pressure weighs on consumers during Tet

Tạp chí Doanh NghiệpTạp chí Doanh Nghiệp17/12/2024


DNVN - A nationwide survey by Decision Lab and Home Credit shows that Vietnamese consumers are more optimistic about Tet 2025, with the desire to spend more time with family and friends. However, there are still many concerns about spending during this occasion.

Tet is an occasion for people to temporarily put aside the worries of daily life to reunite with family, connect with friends and look forward to a prosperous new year. In the spring atmosphere, a survey by Decision Lab and Home Credit with more than 1,000 consumers showed that the majority (83%) feel positive, full of joy and hope for Tet 2025.

The survey also paints an optimistic picture of Vietnamese consumer sentiment during the 2025 Lunar New Year. More than 84% of respondents feel more or less positive about their spending compared to last year, reflecting a positive economic recovery. This confidence is clearly demonstrated by the fact that nearly half (46%) feel completely proactive in managing their personal spending, ready for a prosperous Tet shopping season.

Despite optimism, many consumers are still worried about spending during Tet 2025.

This result is consistent with the PwC report "Asia Pacific Consumer Survey 2024" in Vietnam. Accordingly, 63% expect to increase spending on essential items, followed by clothing (52%) and healthcare products (48%), showing that in addition to preparing for Tet, people are also concerned about taking care of their own health and that of their families.

Thus, in general, the surveys show that life is increasingly developing, bringing many new things, but for many people, the most special and precious meanings of Tet still remain. That is the happiness of strengthening family and friends' relationships. When asked what moment or thing is priceless on this occasion, the highest percentage (41%) said that it is spending time with family and relatives. Up to 31% also affirmed that seeing smiles on the faces of their loved ones is the most precious thing to them. Among them, giving parents and family meaningful gifts is one of the activities that many people are interested in (21%).

Realizing this importance, Home Credit launched the campaign “Priceless Tet”, focusing on sharing authentic moments of family affection, through warm moments of gathering in the bustling spring atmosphere. And with a special MV in collaboration with singer Bui Cong Nam, Home Credit hopes to share memorable moments with everyone.

“The MV is not only a quality music product but also a profound message about the true meaning of Tet. It is the warm moments with family, surpassing material values,” said Mr. Jakub Kudrna, Business Strategy Director of Home Credit.

In addition to optimism, the survey by Decision Lab and Home Credit also found that about 33% of Vietnamese people feel pressured, worried or tired when thinking about Tet. This is evidenced by the fact that 18% of respondents said they do not feel confident about shopping during this period.

Understanding the needs of customers, Home Credit's "Priceless Tet" campaign supports people's shopping with many attractive promotions and loan packages, helping to divide payments. For customers who are still hesitant or do not have enough financial capacity to immediately own their favorite products, Home Credit has an installment loan package that applies a preferential interest rate policy of 0 - 0.55%/month when buying electronics and motorbikes in installments at all affiliated stores and supermarkets such as Mobile World, Hoang Ha Mobile, ShopDunk, Viettel Store... until February 28, 2025...

Thu Ha



Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/ap-luc-tai-chinh-de-nang-nguoi-tieu-dung-dip-tet/20241217042642634

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