Vietnamese travel sales shifting online

While only 7 percent of online travel sales in Vietnam were made on mobile devices last year, the number grew rapidly at a 58.1 percent compound annual growth rate (CAGR) in the 2013-16 period, presenting a major growth opportunity, according to a Euromonitor International study. More Vietnamese are using their mobile devices for travel purchases, presenting a growth opportunity for online travel agents Euromonitor, a provider of strategic market research, surveyed a sample of 150 Vietnamese to analyse the online travel landscape as well as browsing and purchase behaviours. Commissioned by performance marketing firm Criteo, the survey was conducted to help travel businesses and online travel agents identify and adopt digital strategies that will attract customers. “Travel expenditures in Vietnam will rise rapidly due to increasing disposable incomes and growing middle-class affluence," said Alban Villani, general manager of Criteo Southeast Asia, Hong Kong and Taiwan. "Vietnam is a mobile-first society, and for 2017, the number of smart phone users in the country is expected to reach 28.5 million, and 37.8 million by 2020." Last year, Vietnamese took 6.9 million international trips and 52.8 million domestic trips, while expenditures on leisure and recreation from now to 2020 are expected to grow at a 7.7 percent CAGR. In the 2011-16 period, online travel sales grew at an 18.3 percent CAGR and totalled over 27 million USD in earnings in 2016. Mobile travel sales, which outpaced the growth of online travel sales, are expected to see a 22.4 percent CAGR from now to…... [read more]

More Vietnamese are using their mobile devices for travel purchases, presenting a growth opportunity for online travel agents (Photo: Hostelworld) HCM City (VNS/VNA) - While only 7 percent of online travel sales in Vietnam were made on mobile devices last year, the number grew rapidly at a 58.1 percent compound annual growth rate (CAGR) in the 2013-16 period, presenting a major growth opportunity, according to a Euromonitor International study. Euromonitor, a provider of strategic market research, surveyed a sample of 150 Vietnamese to analyse the online travel landscape as well as browsing and purchase behaviours. Commissioned by performance marketing firm Criteo, the survey was conducted to help travel businesses and online travel agents identify and adopt digital strategies that will attract customers. “Travel expenditures in Vietnam will rise rapidly due to increasing disposable incomes and growing middle-class affluence," said Alban Villani, general manager of Criteo Southeast Asia, Hong Kong and Taiwan. "Vietnam is a mobile-first society, and for 2017, the number of smart phone users in the country is expected to reach 28.5 million, and 37.8 million by 2020." Last year, Vietnamese took 6.9 million international trips and 52.8 million domestic trips, while expenditures on leisure and recreation from now to 2020 are expected to grow at a 7.7 percent CAGR. In the 2011-16 period, online travel sales grew at an 18.3 percent CAGR and totalled over 27 million USD in earnings in 2016. Mobile travel sales, which outpaced the growth of online travel…... [read more]

More Vietnamese are using their mobile devices for travel purchases, presenting a growth opportunity for online travel agents. — Photo Hostelworld While only 7 per cent of online travel sales in Viet Nam were made on mobile devices last year, the number grew rapidly at a 58.1 per cent compound annual growth rate (CAGR) in the 2013-16 period, presenting a major growth opportunity, according to a Euromonitor International study. Euromonitor, a provider of strategic market research, surveyed a sample of 150 Vietnamese to analyse the online travel landscape as well as browsing and purchase behaviours. Commissioned by performance marketing firm Criteo, the survey was conducted to help travel businesses and online travel agents identify and adopt digital strategies that will attract customers. “Travel expenditures in Việt Nam will rise rapidly due to increasing disposable incomes and growing middle-class affluence," said Alban Villani, general manager of Criteo Southeast Asia, Hong Kong and Taiwan. "Việt Nam is a mobile-first society, and for 2017, the number of smart phone users in the country is expected to reach 28.5 million, and 37.8 million by 2020." Last year, Vietnamese took 6.9 million international trips and 52.8 million domestic trips, while expenditures on leisure and recreation from now to 2020 are expected to grow at a 7.7 per cent CAGR. In the 2011-16 period, online travel sales grew at an 18.3 per cent CAGR and totalled over $27 million in earnings in 2016. Mobile travel sales, which outpaced the…... [read more]

More Vietnamese are using their mobile devices for travel purchases, presenting a growth opportunity for online travel agents. — Photo Hostelworld While only 7 per cent of online travel sales in Viet Nam were made on mobile devices last year, the number grew rapidly at a 58.1 per cent compound annual growth rate (CAGR) in the 2013-16 period, presenting a major growth opportunity, according to a Euromonitor International study. Euromonitor, a provider of strategic market research, surveyed a sample of 150 Vietnamese to analyse the online travel landscape as well as browsing and purchase behaviours. Commissioned by performance marketing firm Criteo, the survey was conducted to help travel businesses and online travel agents identify and adopt digital strategies that will attract customers. “Travel expenditures in Viet Nam will rise rapidly due to increasing disposable incomes and growing middle-class affluence," said Alban Villani, general manager of Criteo Southeast Asia, Hong Kong and Taiwan. "Viet Nam is a mobile-first society, and for 2017, the number of smart phone users in the country is expected to reach 28.5 million, and 37.8 million by 2020." Last year, Vietnamese took 6.9 million international trips and 52.8 million domestic trips, while expenditures on leisure and recreation from now to 2020 are expected to grow at a 7.7 per cent CAGR. In the 2011-16 period, online travel sales grew at an 18.3 per cent CAGR and totalled over $27 million in earnings in 2016. Mobile travel sales, which outpaced the…... [read more]

Though only 7 per cent of overall online travel sales were made on mobile phones in Vietnam in 2016, such sales grew rapidly from 2013-2016, at a compound annual growth rate (CAGR) rate of 58.1 per cent, and present the biggest growth opportunity, the latest Criteo-commissioned study conducted by Euromonitor International has found. The new findings were recently revealed by Criteo, a performance marketing technology company. Euromonitor International surveyed 150 Vietnamese to analyze the online travel landscape as well as browsing and purchasing behavior in the country to help travel businesses and online travel agents (OTAs) identify and adopt digital strategies to engage travelers throughout their purchase journey. The research revealed that travel remains an area Vietnamese are devoted to. In 2016, they took 6.9 million outbound trips and 52.8 million domestic trips, while expenditure on leisure and recreation is expected to grow 7.7 per cent CAGR from 2017-2020. Online travel sales have grown 18.3 per cent CAGR in the 2011-2016 period and totaled over $27 million in 2016, but were outpaced by mobile travel sales, which will see double-digit growth of 22.4 per cent CAGR from 2017-2020. “Travel expenditure in Vietnam will rise rapidly due to increasing disposable incomes and growing middle-class affluence,” said Mr. Alban Villani, General Manager, Criteo Southeast Asia, Hong Kong and Taiwan. “Vietnam is a mobile-first society.  The number of smartphone users in Vietnam this year is estimated to reach 28.5 million and will increase to 37.8 million in 2020.” “Travel websites and OTAs therefore…... [read more]

Many Vietnamese can’t survive a day without a few shots of "ca phe sua da", Vietnamese style iced coffee with concentrated milk. Photo by VnExpress Competition is brewing among local and international coffee players. Vietnam - known for its deep-rooted coffee culture - has become one of the most diverse markets in Asia for the uplifting beverage, with scores of global giants, local chains and small cafés severing a wide variety of freshly roasted beans. Domestic chains are competing well against international brands including coffee giant Starbucks, which has opened 24 outlets across Vietnam since its debut in the country four years ago. Not long after Starbucks entered Ho Chi Minh City, the country’s southern business hub where people drink coffee from sunrise to sundown, local chain Phuc Long stepped up its game and presented a direct challenge to the global giant. At a main intersection at the heart of the city, a Starbucks shop is under fierce competition from two Phuc Long stores just a few steps away. Phuc Long has shown a determined attempt to take on international brands like Starbucks by building up its presence in busy downtown areas across Ho Chi Minh City that are densely crowded with office buildings and shopping malls. Where there's a Starbucks outlet, there’s a Phuc Long store to draw in those who otherwise would be Starbucks clients, mostly upper- middle class consumers willing to pay a few extra bucks for a cup of premium-branded coffee. “We are not overwhelmed by…... [read more]

Vietnam now ranks second after Cambodia in beer consumption in Southeast Asia. According to a global market research company, Euromonitor International, the Vietnamese beer market will continue to grow at 5.6 percent in the next few years, an estimate just behind Laos and Cambodia. Some major beer companies in the world such as Budweiser, Sapporo, San Miguel and Foster have found their ways in Vietnam. VBL Joint Venture Company, whose shares are held by Singapore’s Asia Pacific Breweries Ltd has officially operated a beer production line in Vietnam bearing ”Larue” trademark with a capacity of 50,000 bottles per hour. APB group, in joint venture with Satra Company, one of the businesses investing in the Vietnamese beer market since the country carried out its open-door policy more than 20 years ago, will pour US$100 million into the region in the next 18 months. Meanwhile, Japan’s Sapporo company has planned to form a joint venture to produce beer with Vietnam’s Tobacco Company in 2012.... [read more]

This is the fourth year Fahasa has received the noble award. Launched in 2004, the annual Asia-Pacific Top 500 Retail Awards are based on surveys of business turnovers by Euromonitor International in 14 regional countries, including Australia, China, Hong Kong, India, Indonesia, Japan, New Zealand, the Philippines, Singapore, Malaysia, the Republic of Korea, Thailand, Taiwan, and Vietnam. Fahasa General Director Pham Minh Thuan said developing reading culture is Fahasa’s top political and economic task. The book company launched promotional programs across the country with total discounts of VND2 billion. Despite economic difficulty, Fahasa earned VND1,200 billion in the past nine months and is expected to raise the figure to more than VND1,600 billion by the year’s end.... [read more]

They are Saigon Union of Trading Cooperatives, with last year’s retail turnover of US$1,105 million, Big C chain under Casino Guichard Perrachon SA (US$534 million), Nguyen Kim Trading JSC (US$490 million), Saigon Jewelry Co.Ltd (US$487 million) and Mobile World JSC (US$395 million). Since 2004, the Retail Asia Publishing Pte has worked with Euromonitor International to rank the 500 leading retailers of 14 Asia-Pacific economies, namely Australia, China, Hong Kong (China), India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, the Republic of Korea, Thailand, Taiwan (China), and Vietnam. Alongside the five above-mentioned companies, others in the top ten Vietnamese retailers in 2014, are Phu Nhuan Jewelry JSC (US$225 million), Pico JSC (US$156 million), Parkson Commercial Centre under Lion Group (US$133 million), Viet Thong A Import Export Trading Production Corp (US$102 million) and Tran Anh Digital World JSC (US$95 million). Three outstanding retailers of each economy will get gold, silver and bronze awards at a ceremony in Singapore this coming November.... [read more]

Last month Mercedes-Maybach, the re-launched luxury brand from Daimler AG, reported that Vietnamese customers have ordered ten units of its luxury Mercedes-Maybach S600 model, which cost VND9.6 billion (US$451,850) each. Fifty Mercedes-Maybach S600 cars will be produced for the global market in 2015, the German carmaker said. Official figures have also indicated that sales of imported cars in the first four months of this year were much better than expected, with 34,000 units worth some $883 million sold, an increase of 125.4% and 188.8% in volume and value compared to the same period last year. According to a recent report by the General Statistics Office (GSO), about 9,000 automobiles, or completely built units (CBUs), were imported into the country last month with a turnover of US$294 million. Compared with the previous month, the importation of CBUs fell by 11% in volume, but rose 7.4% in value. According to a recently released report of the Vietnam Automobile Manufacturers' Association (VAMA), total sales of personal cars in Vietnam reached 9,423 units in April, up 0.1% month on month. The number of CBUs imported by VAMA members topped 4,200 vehicles, up 19% from the previous month. While sales of locally assembled vehicles during the first four months rose by 58%, the sales of imported cars surged 73% compared to the same period last year, according to the VAMA. The Southeast Asian country last year spent US$1.57 billion importing 72,000 vehicles, rising 103.8% and 117.3% in volume and value compared to 2013, respectively, the…... [read more]




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