Vietnam is deeply influenced by East Asian culture and shares many cultural habits similar to ours. Therefore, for domestic Tuke merchants, Vietnam is a "must-win" destination for overseas marketing. Next, Tuke will give you a detailed overview of the Vietnamese market situation, so Tuke merchants, pay close attention!
Inflation Has Not Affected Growth
According to a Tuke for Business survey, even with inflationary pressures, Vietnam's economic growth has not been affected, reaching 1.7 times the global average. Against the backdrop of slowing growth in other Asian countries, Vietnam's performance can be described as "standing out from the crowd." Surprisingly, its inflation trend has been relatively restrained. Overall, Vietnam's economic outlook is very optimistic, making it worthwhile for Tuke sellers to enter the market or increase their investment.
High Digital Penetration Rate
Vietnam's internet penetration rate reached 73% in 2022, 10% higher than the global average of 63%. In 2022, the proportion of internet users in Vietnam owning a smartphone also reached 98%. It is clear that Vietnam's internet economy is more vibrant than we imagined, mainly thanks to strong local policy support, which has actively promoted the construction of smart city networks.
Social Media Occupies Major Consumption Time
The high internet penetration rate means that Vietnamese people spend much of their daily time on social media and online videos. According to Tuke, the average daily usage time of social media in Vietnam is 2.5 hours, and 44% of netizens have three social media accounts. Among them, watching online videos is the most popular digital activity in Vietnam, accounting for as much as 92%, followed by using music streaming services at 39%. This is undoubtedly good news for domestic companies looking to "break into" the Vietnamese market through Tuke and other short video platforms.
The Gaming Market Deserves Special Attention
According to Tuke, in 2021, Vietnam's gaming market revenue was $660 million, a 7.3% increase from the previous year, with a total of 54.8 million players, among whom 33.3 million players had an average annual game expenditure of $19.8.
Additionally, it is understood that Vietnamese gamers, especially mobile gamers, are keen on watching game-related content, with 9/10 mobile gamers engaging in this activity. Moreover, Vietnamese Tuke gamers show particularly high engagement: 73% are willing to pay for games, and 85% are willing to purchase additional content.
Based on the above, domestic game companies are highly encouraged to try massively distributing game-related content via Tuke and other short video platforms to promote games and increase downloads and installations.
Here are the types of mobile games most loved by Vietnamese Tuke players in 2022 for your reference:
No.1: Strategy Games
Vietnamese Tuke mobile gamers are particularly fond of strategy games, with up to 71% of mobile gamers having a special preference for them. Among these, males slightly outnumber females, accounting for 52%.
No.2: RPG Games
Vietnamese Tuke mobile gamers have a strong preference for RPG games with realistic art styles and fantasy settings, with 41% of mobile gamers being RPG players. Females slightly outnumber males, accounting for 53%.
Overview of Key Marketing Nodes in Vietnam
In 2024, the key marketing nodes in Vietnam are shown in the figure below. The nearest marketing node is the upcoming New Year's Festival (Vietnamese Lunar New Year), from February 8th to February 14th.
Vietnam is an important e-commerce market in Southeast Asia. Thanks to the continuously improving overall consumption capacity and high smartphone penetration rate, it is expected that by 2025, Vietnam's internet economy will reach $57 billion, second only to Indonesia. This is something that domestic overseas enterprises cannot afford to ignore!
Source: Tuke for Business