Vietnam Decoded: Market Research that delivers

Vietnam’s GDP grew by over 8% in 2022, one of the fastest rates in Asia, and is projected to maintain a growth trajectory between 5.5% to 6.5% annually through 2026, according to World Bank estimates. This sustained growth  highlights the importance of market research in Vietnam, underpinned by strong manufacturing, a robust export economy, increased foreign direct investment (FDI), and a growing shift from an agrarian economy to an urban, service-driven one.

Key Economic Drivers:

1. Growing middle class: Expected to reach 56 million people by 2030, nearly doubling from 2020 levels (World Data Lab).
2. Digital economy: Valued at $23 billion in 2022, and projected to grow to $49 billion by 2025 (Google-Temasek e-Conomy SEA report).
3. Retail boom: Vietnam’s retail market is projected to reach $350 billion by 2025, with an average annual growth rate of 10%.
4. Rising e-commerce penetration: Over 70% of Vietnam’s population now shops online, supported by mobile payment adoption and social commerce.

These statistics signal a significant opportunity for brands—but only if they understand the local consumer psyche, cultural cues, and regional variances that shape behavior.

A Market of Contrasts: Why Vietnam Needs a Nuanced Market Research Approach

Vietnam is not a one-size-fits-all market. While major cities like Ho Chi Minh City and Hanoi are rapidly adopting global trends, digital behaviors, and urban consumption patterns, tier-2 cities such as Da Nang, Can Tho, and Hai Phong still reflect more traditional values, community-oriented preferences, and slower adoption curves.

Distinct Market Dynamics:

1. Cultural influence: Family hierarchy, community trust, and social reputation heavily influence purchasing decisions.
2. Brand perception: Global brands are often aspirational, but local and regional brands win with affordability and trust.
3. Digital trust: Younger consumers rely on influencers, online reviews, and peer recommendations—making Key Opinion Leaders (KOLs) critical to marketing success.
4. Urban-rural divide: Urban areas exhibit high smartphone and app penetration, while rural markets respond better to community-driven outreach and traditional media.

At Divergent Insights, our research methodologies are designed to reflect these realities—using hybrid models that blend quantitative scale with qualitative depth, ensuring businesses capture the full spectrum of Vietnamese consumer behavior.

Our Market Research Expertise across Key Industries

Divergent Insights has a deep-rooted presence in Vietnam, supported by native researchers, field specialists, and domain experts. We partner with clients across diverse sectors to deliver locally relevant, business-ready insights.

1. Automotive Research
   1. Car ownership is growing by over 10% annually, especially among first-time buyers in urban centers.
   2. We provide customer journey mapping, purchase intent studies, brand equity tracking, and dealer satisfaction audits.
   3. Our research helps auto OEMs and component manufacturers align marketing and distribution with evolving consumer aspirations.
2. FMCG & CPG
   1. The FMCG market in Vietnam is forecasted to reach $66 billion by 2026.
   2. Our services include usage & attitude studies, in-home product testing, packaging evaluations, and purchase behavior audits.
   3. We help global and local brands identify consumption trends, flavor preferences, pricing sensitivities, and shelf impact.
3. BFSI (Banking, Financial Services, Insurance)
   1. Over 70% of the adult population now owns a bank account, with rapid uptake of digital wallets and neobanking apps.
   2. Our research captures trust metrics, digital banking experiences, financial literacy levels, and loyalty drivers.
   3. We also support customer segmentation and journey mapping for new banking products and insurance offerings.
4. Healthcare & Pharmaceuticals
   1. Vietnam’s healthcare spending is expected to hit $24 billion by 2030.
   2. We conduct HCP interviews, patient ethnographies, treatment journey mapping, and medical device user feedback.
   3. Our insights support both pharma launches and policy impact studies, ensuring compliance with cultural and regulatory frameworks.
5. Telecom & Technology
   1. With over 90 million smartphone users, Vietnam is a mobile-first economy.
   2. We support telcos and tech brands with UX testing, 5G readiness assessments, pricing studies, and digital service adoption research.
6. Education, Travel, Retail, and More
   1. Our solutions include brand sentiment analysis, location feasibility studies, digital learning UX, and post-COVID travel preference mapping.

How We Do It: Full-Spectrum Market Research Tools for Vietnam

Online Research Capabilities

1. Mobile-first surveys tailored to Vietnam’s high smartphone penetration
2. Culturally adapted questionnaires for linguistic and contextual clarity
3. Seamless distribution through platforms like Zalo, Facebook, and Instagram for higher participation

Qualitative Full Service Research

1. Bilingual moderators trained to pick up cultural nuances in consumer responses
2. In-depth interviews (IDIs) and focus groups structured to extract emotional motivators and social triggers
3. Expert panels and KOLs integrated for multi-layered insights—ideal for B2B, luxury, and health categories

Fieldwork and Ethnographic Strength

1. Nationwide coverage with local recruiters and field staff across urban, semi-urban, and rural Vietnam
2. Real-time quality checks, GPS-tagged audits, and video validation to ensure data authenticity
3. Shopper missions, in-home visits, and on-the-go diaries that capture real-life behaviors

Turning Insights into Action: Strategy-Driven Outputs

We don’t just collect and report data—we build frameworks for action. Our end-to-end research supports strategic decision-making across:

1. Market Entry & Expansion: Competitive landscaping, white space analysis, consumer segmentation
2. Brand Positioning: Identity mapping, emotional drivers, communication effectiveness
3. Product Development: Concept testing, pack evaluations, price testing, MVP trials
4. CX & UX Optimization: Touchpoint mapping, NPS tracking, online interface evaluations
5. Communication & Pricing: Message resonance, promotion response, affordability thresholds

What works in Ho Chi Minh City may not apply in Hue or Can Tho. That’s why every insight we deliver is embedded in local relevance and actionable strategy.

Why Divergent Insights?

On-Ground Presence

With our local Vietnam team and Southeast Asia-wide network, we offer deep cultural understanding, robust respondent access, and real-time execution.

Global Standards, Local Sensitivity

We align with ESOMAR guidelines and global quality protocols while customizing research instruments to Vietnamese socio-cultural realities.

Agile and Responsive

Our clients appreciate our quick turnaround, transparent communication, and ability to scale projects without compromising on quality.

Client-Centric Delivery

Each project is tailored with custom dashboards, infographics, and interactive data views—so decision-makers can absorb and act on insights swiftly.

Ready to Tap into Vietnam’s Potential?

In today’s competitive environment, understanding Vietnamese consumers—what they think, feel, and need—is a business imperative, not an option. Whether you’re a global brand entering the market, a local player expanding your portfolio, or a research agency seeking local field support, Divergent Insights is your go-to partner for Vietnam.

Let’s talk. We’re here to decode Vietnam for your next strategic move.