Việt Nam’s consumer markets expected to grow by US$130 billion over next 10 years

15/09/2021 08:09 4

Việt Nam’s consumer markets expected to grow by US$130 billion over next 10 years


HÀ NỘI — Consumption in Việt Nam could grow by US$130 billion over the next decade as Asia continues to be the world’s consumption growth engine, a new report from McKinsey has revealed.

Scale continues to be a key characteristic of the region’s consumption story, but a new chapter is being written based on the increasing diversity of the region’s consumer markets. Companies need to get to know the distinct segments of consumers who are set to drive growth and redraw their map of consumption for Việt Nam and for Asia as a whole.

Jeongmin Seong, an MGI partner in Shanghai, said: “In order to capture new and evolving sources of growth, companies need to refresh the growth map in Asia. The map can help business executives to make effective decisions on a range of corporate activity, from resource allocation to what kind of ecosystem to operate in.” — VNS

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