Vietnam s consumer markets expected to grow by US$130bil over next 10 years
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Việt Nam s consumer markets expected to grow by US$130 billion over next 10 years - Economy - Vietnam News | Politics, Business, Economy, Society, Life, Sports
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By Oliver Tonby
Asian consumers are expected to account for half of global consumption growth in the next decade, offering a $10 trillion opportunity. However, the increasing spending power of the region s consumers is not only a story of scale, but also one of diversity and shifting preferences and behaviors caused by powerful demographic, social and economic forces.
These discontinuities in consumer behavior are reshaping Asia s consumer markets and leading to new and sometimes surprising choices and spending patterns. In South Korea, one big shift has been the rise of the solo economy and the increasing prevalence of the honjok (a Korean term meaning the kind of people who live alone) lifestyle ― the growing number of people who live, eat and entertain themselves alone.