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VietNamNews

Vietnamese trust content and brands

Update: October, 16/2017 - 19:30
In Việt Nam, more than half the consumers (54 per cent) trust large global brands. — Photo kinhtedothi.vn
Viet Nam News

HÀ NỘI — Connected consumers in Việt Nam are more trusting than other countries in the region when it comes to their online activities, according to Kantar TNS’s latest Connected Life research.

Compared with the rest of the world, they are less sceptical of the content they see and more accepting of brands online. Brands need to continue to earn this trust through appropriate interactions or risk the rise of doubt and cynicism.

Kantar TNS surveyed 70,000 people across 56 countries and conducted 104 in-depth interviews as part of the 2017 Connected Life study. The research explored consumers trust in brands under four criteria -- technology, content, data and e-commerce.

In Việt Nam, more than half the consumers (54 per cent) trust large global brands. However, consumer trust falls significantly in developed markets such as Australia and New Zealand, where just 19 per cent and 21 per cent, respectively, trust major global brands.

The findings show that optimism around connectivity is still high in Việt Nam. Only 18 per cent of Vietnamese have concerns about the amount of personal data brands have on them, compared with 40 per cent globally and rising to as high as 56 per cent in Australia. What’s more, only 20 per cent are adverse to connected devices monitoring their activities online if it makes their lives easier, compared with 56 per cent of the consumers in South Korea and 62 per cent in New Zealand.

For the most part, consumers in Việt Nam have not yet realised the trade-offs intrinsic to a connected lifestyle that have caused other countries to become more cynical about the way companies are using their personal information.

“Connected consumers in Việt Nam are still enjoying the first wave of digital interaction with brands. Now is a great time for brands to demonstrate how much value they can add to people’s lives via online channels and build these relationships from the ground up. However, brands do need to make sure they are not overly intrusive in this space to ensure they maintain this trusted position,” Ashish Kanchan, managing director, Việt Nam, Kantar TNS said.

However, this progressive view on digital interaction does not translate into mobile payments. Only 14 per cent of Vietnamese say that they are willing to pay for products using their mobile phone, compared with 39 per cent globally. With a high population of unbanked consumers, cash is king in Việt Nam. Innovative solutions and financial literacy are needed to overcome local barriers and entice people to start using these newer payment options.

Kantar TNS is one of the world’s largest research agencies with experts in over 90 countries. — VNS

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