nielsen personal finance monitor 2011
DESCRIPTION
Are you wondering how you can win consumers over to your retail bank? Have questions about how consumers view internet banking, what they look for in a bank, or trends across Vietnam consumer banking? The latest report from Nielsen's Personal FInance Monitor Survey answers that and moreTRANSCRIPT
Nielsen Finance IPG 2011
Vietnam Landscape & Finance Trends
Presented by:The Nielsen Finance IPG
June, 2011
Nielsen Finance IPG 2011
Agenda
• A Glance at Vietnam’s Economic Performance
• The Latest Consumer Trends
• Finance Focus Points
1. Products & Accounts
2. Effectiveness of Advertising
3. Channels
4. The Rural Market
• Q & A
Nielsen Finance IPG 2011
Research Design
• N=600 per month
• HCMC / Hanoi
Primary source
Respondent Criteria
• Male & female
• 18-50
• HIB: ABCD
• Financial Decision
makers
Methodology
• Random sampling
• F2F interviews
PFM – Personal Finance Monitor
8,000+ interviews conducted since 2010
4
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
• Nielsen Vietnam PFM
• Nielsen Hong Kong PFM
• Nielsen Indonesia PFM
• Nielsen Business Barometer
• Nielsen Omnibus
• Nielsen Global Online Survey
• Nielsen Vietnam Retail Audit
• Nielsen Global Consumer
Confidence Report
• Nielsen Shopper Trends
• Nielsen Rural Syndication
• Asia Development Bank Outlook
2011
• The General Statistic Office
• Central Bureau of Statistics
• www.dekitfinance.com
Internal Sources External Sources
Nielsen Solutions
• Nielsen Vietnam PFM
• Secondary Cities PFM
• Nielsen Ad-trak
• Mystery Shopping
• Customer Segmentation
Information Sources
5
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
A Glance at Vietnam’s Economic Position
6
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
LPG retailer increases
(4 adjustments)
“Six currency
Devaluationsin the past 2 years”
National Party Elections and
Party Congress Jan. 2011
“what changes will we see?”
Foreign Reserves: enough?
Banking Capitalization?
Trade Deficit of $9.5B
Vinashin –
“are some state-owned
firms are in trouble?”
Fuel increased by +18%Electricity price
increased by +15%
Changing economical climate in the last 6 months…
7
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Nielsen Finance IPG 2011
Positive growth yet consumer confidence impacted in short-term
•Sources: Consumer Confidence, Nielsen Global Online Survey 2007-10; GDP Growth ; Inflation Data & Estimate from Asia
Development Bank Outlook 2011 & The General Statistic Office, FMCG Growth from Nielsen Vietnam Retail Audit
Consumer ConfidenceFMCG Volume Growth
10%
4%
13%15%
2007 2008 2009 2010
+
+
++
106 9785
109 101119
88103 98
2008-
Q1
2008-
Q3
2009-
Q1
2009-
Q2
2009-
Q3
2009-
Q4
2010-
Q1
2010-
Q2
2010-
Q3
2010-
Q4
2011-
Q1
GDP Growth & Its Contribution Inflation
2011E: 13.3%2011E: 6.1%
8
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
99% of
respondents are
aware of the
devaluation of
Vietnam Dong
94% of them
claimed that this
change would
have big impact
for them
1. Reduce spending (53%)
2. Daily expenses rise (12%)
3. No comfort spending money (11%)
Personal daily expenses
1. Economy growth will decline (34%)
2. Inflation (21%)
3. Price of all items increases (20%)
Vietnam economy
Continuing devaluation of the VND has concerned consumers
9
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Nielsen Finance IPG 2011
Luxury spending and savings are the two biggest casualties.
Cut spending on unnecessary
items
Have to cut monthly saving
Spend less on entertainment
activities
I have to look for discounted
daily goods to save money
Spend less on other beauty
care activities
81
67
49
44
33
Total
N=569
Deposits &
Savings could be a
“victim” of this
reaction.
13,000
14,000
15,000
16,000
17,000
18,000
19,000
20,000
21,000
22,000
USD / VND EXCHANGE RATE
Copyright © 2011 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
10
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
Consumer Confidence Index
11
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
VN consumers’ perception…
Job
prospects
in N12M58%
(Excellent/ Good)
62%(Excellent/ Good)
14
18
13
7
9
4
13
14
10
14
12
9
6
18Job security
Health
Work/life balance
Increasing food prices
Increasing utility bills
The economy
Increasing fuel prices
13
12
11
10
5
6
14
14
12
11
8
8
5
20The economy
Increasing food prices
Work/life balance
Health
Job security
Increasing utility bills
Childrens' education/ welfare
Biggest concern
Second biggest concern
APAC
•Sources: Nielsen Global Consumer Confidence Q4’10
Base: All respondents (n=505, 7009)
% %
Major concerns over the next 6 months
Major concerns with job security & increasing daily commodities
Personal
finances
in N12M
12
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
131
118 116110 110 110 109 109 108 107 106 105 102 102
98
Indi
a
Saud
ia A
rabi
aIn
done
sia
Aus
tralia
Phillip
ines
Switer
zlan
dSing
apor
e
U.A
.E
Chin
aHon
g Kon
gTh
ailand
Malay
sia
Egyp
tCa
nada
Viet
nam
•Sources: Nielsen Global Consumer Confidence Q4’10
Base: All respondents (n=505, 7009)
Q1 2011
Major concerns with job security & increasing daily commodities
13
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
The Latest Consumer Trends
14
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Nielsen Finance IPG 2011
A ‘purchase Vietnamese’ trend continues but has softened in the search for ‘value’.
•Sources: Nielsen Shopper Trend Research 2010
15
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Nielsen Finance IPG 2011
7.0 8.03.7
41.9 40.7 46.1
3.2 3.6 2.08.1 8.0 8.1
6.8 6.5 7.9
16.5 17.7 12.6
6.93.64.4
Total
(n=5400)
HCMC (n=2700) HN (n=2700)
Daily expenses now account for almost 50% of the customers wallet. Leaving around 20% for Savings and Investments.
11.94.7 6.5 5.3
40.3
42.043.0 42.1
3.1
3.33.3
3.1
8.6
8.27.5 8.2
6.26.9
6.8 7.8
14.917.2 17.1 16.4
4.34.34.64.3
18-25 yo (n=1166) 26-35 yo (n=1752) 36-45 yo (n=1578) 46-50 yo (n=904)
•Sources: Nielsen Omnibus Mar ‘11
Others
Investment
Saving
Buying luxurious items
Shopping
Travelling
Daily expenses
Studying
% Allocation of Household Income
16
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Nielsen Finance IPG 2011
Why do I save?
1st
Benefits of home saving
Save for child's education
25%2nd
Save for security
31%
3rdSave for future
8%
1stMore flexible access
23%
2ndMoney always available
14%
Why do I choose to save at
banks?
1st- Earn interest
- Convenient for doing business
Monthly Average Saving
Amount – Mean score
Total 1,276,675 VND
HCM 1,373,180 VND
Hanoi 992,834 VND
Security and child’s future are the top priorities. Flexibility and immediate access helps to push people towards home saving.
•Sources: Nielsen Vietnam PFM
17
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
Products
&
Accounts
Nielsen is thekey provider of
a valuable
spectrum of
category & brand
insights…what are the
trends?
18
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Nielsen Finance IPG 2011
Transactional account
ATM/ debit card
Deposit/ saving account
Bank loan services
Foreign exchange service
Domestic money transfer/payment
International money transfer
Credit card
Transaction account (without card)
Custody service
Other banking services
Banking Products – Awareness, Usage & Intention
Aware Currently using Future Intention
Base: All Respondents (7200)
Strong intention is not currently being converted into actual usage, with usage levels seemingly
affected by the recent confidence levels.
14
25
33
42
58
88
87
100
100
100
100
0
0
1
1
0
4
1
2
12
31
32
6
2
9
13
7
21
11
7
36
38
32
•Sources: Nielsen Vietnam PFM
19
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Nielsen Finance IPG 2011
ATM/Debit
100%
Credit
42%
ATM/Debit
32%
Credit
1%
Awareness
Usage
Base: all respondent (n=7200)
Credit
5%
Indonesia
Credit
60%
Hong Kong
Market Comparison
Indonesia Hong Kong
Banking Products – Credit Card Usage
Credit cards have yet to take off in Vietnam, but historical usage trends in
other markets suggest it’s only a matter of time.
•Sources: Nielsen Vietnam PFM, Nielsen Hong Kong PFM, Central Bureau r of Statistics
20
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Nielsen Finance IPG 2011
• Credit cards have only been popular for the last 10 years
• Number of cards increasing at 10% per year from 4.52 to 13.4 million in 8 year period
• Value of transactions increasing at 28% per year
Routine household expenses
Routine personal expenses
Impulsive (unplanned) shopping
Short of cash
Emergency purpose
Attractive discount for fashion items
Attractive discount in restaurants
Attractive installment program
Irregular household expenses
Routine billing payment
80
64
47
37
32
26
20
20
14
12
72
47
31
24
19
19
14
13
10
9All CC
Main CC
Grocery
Clothing & accessories
Restaurant / café
Electrical appliances
Books
Health care
Entertainment
Travel
96
74
48
29
23
18
10
9
What does the future hold?
Channels of UsageOccasions of Usage
Indonesia
Source: Indonesia Credit Card Numbers: www.dekitfinance.com,
Central Bureau of Statistics; Other: Nielsen Indonesia PFM
21
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Nielsen Finance IPG 2011
Base: who aware of credit card but do not
currently use (n=1221) R 7-12
Inconvenience
/ Complicated
procedure
18%
Lack of
knowledge
19%
High fee is
applied 7%
Credit Cards - Current barriers
Reasons for not using credit cards
Over half the market do not fully understand what a credit card is and for those
who do there are barriers around their lack of knowledge and convenience
•Sources: Nielsen Vietnam PFM
22
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Nielsen Finance IPG 2011
How to attract new users? Non-bank users
Potential triggers (n=4136)
% Lengthy procedures 64%
Valued pledged
assets required 52%
Financial/ income
Information required 51%
High interest rates 46%
(loan)
Key Barriers
(n=4136)
Key Barriers
(n=4136)
Not qualified for
using loan services 21%
Interest rates
60%
33%
58%
47%
Simple and quick
procedures
No financial/ income
evidence required
Issued by
prestigious
bank
Base on non bank users (R1-12)
Both operational and marketing changes need to be made to address the
concerns of the non-banking market.
Operational Issues
Marketing Issues
Triggers to start banking Reasons for not banking
•Sources: Nielsen Vietnam PFM
23
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Nielsen Finance IPG 2011
Payroll Accounts
Payroll accounts make over a third of the market, however only a small
fraction of these customers consider this to be their main bank.
Base: Bank users (n=1501)
Yes, and I have choice to
use either my own bank
account or account opened
by my company
Yes, and I have to use bank
account opened by my
company
No 42
58
I choose the
bank in which
my company
opened account
for me
I choose
another bank I use it for
receiving salary
and some other
transactions
I use it as my
main bank
I use it for receiving
salary only
Base: Those who had a choice
(n=85)
Base: Users of bank
accounts opened by
companies (n=603)
35%
6%
59%
Does company open
bank account?
Which account do
you use?
12%
19%
68%
Is this your primary
account?
•Sources: Nielsen Vietnam PFM
24
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
Base: Bank users – 2H 2010
60
25
60
28
61
19
29
43
26
43
34
42
9
28
12
26
30
1 27
1 1 1 1
2
1
42 Totally not comfortable
Somewhat not comfortable
Neutral
Somewhat comfortable
Totally comfortable
Local banks Local banks Local banksForeign banks Foreign banks Foreign banks
Total (n=1501) HCMC (n=584) Hanoi (n=917)
On the whole customers feel more
comfortable dealing with local banks.
However, 68% said that they would feel
comfortable using a foreign bank.
Low rate of
usage for foreign
banks
Current usage rate:
1.HSBC: 2%
2.ANZ: 1%
Vietnamese vs. Foreign Banks
•Sources: Nielsen Vietnam PFM
25
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Nielsen Finance IPG 2011
Advertising
Effectiveness
Nielsen is thekey provider of
a valuable
spectrum of
category & brand
insights…
26
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Nielsen Finance IPG 2011
Marketing activities are somewhat effervescent in the financial services industry…
27
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Nielsen Finance IPG 2011
USERS
AD AWARE
USERS
NON-AD AWARE
NON-USERS
NON-AD AWARE
VIETINBANK
BIDV
VIETCOMBANK
AGRIBANK
ACB
DONG A BANK
ABB
TECHCOMBANK
MB
VIB
SACOMBANK
MARITIME BANK
VP
HSBC
ANZ
TOM Other spont Aided
86
76
74
48
32
24
26
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
84
89
82
80
52
62
79
83
85
86
84
90 9
13
20
15
11
15
17
14
15
18
17
1
1
1
6
1
3
1
81
43
29
16
16
50
53
3
1
1
3
7
18
100
100
100
100
100
100
100
100
100
100
100
100
100
100
100
65
74
81
58
75
50
78
62
64
79
84
75
20
47
42
18
20
22
14
25
33
15
31
2
4
3
4
22
6
5
1
57
61
77
67
24
74
52
31
84
66
95
91
95
89
25
86
49
49
84
18
18
53
31
1
2
3
1
22
18
30
38
4
12
20
7
64
46
77
18
18
47
62
Base: For each individual bank
NON-USERS
AD AWARE
11
28
11
8
23
23
28
36
76
61
89
92
100
99
100
100
99
99
97
99
97
98
99
99
100
100
100
1
1
1
1
1 49
54
38
37
76
76
70
63
21
16
23
62
74
72
88
49
82
45
Advertising Effectiveness – Brand Awareness Amongst both users and non-users advertising helps to achieve brand
recognition and recall.
•Sources: Nielsen Vietnam PFM
28
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Nielsen Finance IPG 2011
Wide range of services
Efficient Process/ Procedure
Broad network of branches
Professional style and attitude
Good customer services
Is financially secure
Attractive/user-friendlytransaction points
Is strongly recommended by every one
Attractive promotion programs
A market leader in Vietnam
20 40 60 80 100
(n=420) (n=579)
(n=122) (n=710)
20 40 60 80 100
(n=261) (n=454)
(n=121) (n=1032)
20 40 60 80 100
(n=149) (n=632)
(n=35) (n=1114)
20 40 60 80 100
(n=145) (n=462)
(n=43) (n=1128)
20 40 60 80 100
(n=152) (n=308)
(n=79) (n=955)
VIETCOMBANK AGRIBANK ACBTECHCOMBANK DONG A BANK
Users Ad-aware Non-users Ad-aware
Users Non-Ad-aware Non-users Non-Ad-aware
Advertising Effectiveness – Brand Image Financial services advertising is on the increase. Whilst this driving
recognition it is less effective at distinguishing any differentiating attributes.
Nielsen Hypothesis:
If advertising impacts brand
image, there should be a
noticeable difference in
attribute scores between those
who have seen the ad and
those who have not.
Results:
Current results indicate that
there is no discernable
difference in perception of the
bank between those who have
seen the ad and those who
have not.
•Sources: Nielsen Vietnam PFM
29
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
Channel
Usage
Nielsen is thekey provider of
a valuable
spectrum of
category & brand
insights…
30
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Nielsen Finance IPG 2011
Online Banking
Call Operator
Banking Channels
ATM
Branch Service
Mobile Banking
Base: bank users (N=672)
2%
4%
87%
84%
4%
37%
23%
77%
51%
N/A
Vietnam Hong Kong
HK also has a
further 2 key
channels:
•WM Center 22%
• RM 23%
•Sources: Nielsen Vietnam PFM, Nielsen Hong Kong PFM
31
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Nielsen Finance IPG 2011
31% 20% 50% 38% 22% 66%
24% 16% 39% 30% 22% 43%
Mobile banking
2% 0% 4% 17% 23% 13%
2% 1% 2% 8% 11% 6%
Online banking
Mobile banking
Online banking
Awareness
Usage
Base: Bank users
Total HCMC (A) Hanoi (B)
n=672 n=243 n=429
Total HCMC (A) Hanoi (B)
n=352 n=67 n=285
Total HCMC (A) Hanoi (B)
n=672 n=243 n=429
Total HCMC (A) Hanoi (B)
n=289 n=243 n=429
Q4 2010 Q1 2011
Transactional Channels – New Channels
Base: Bank users & aware of channel
While awareness still remains a barrier to usage, amongst those who are
aware of the channel usage has increased rapidly in just the past quarter.
•Sources: Nielsen Vietnam PFM
32
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Nielsen Finance IPG 2011
Mobile
banking
Total
94%
HCMC
86%
Hanoi
98%
Base: bank users (Round 10-12)
Online
banking
Total
96%
HCMC
94%
Hanoi
98%(T2B: Somewhat will do this
Definitely will do this)
Concerns about usage Total
(n=275)
HCMC (A)
(n=33)
Hanoi (B)
(n=242)
23
51
66
53
38
17
Total
(n=214)
HCMC (A)
(n=47)
Hanoi (B)
(n=167)
30
41
78
70
34
22
11
65
44
25
57
23
28
45
74
63
30
14
22
37
71
67
28
30
36
44
83
72
39
15
Lack of knowledge
Concern about the effectiveness
Security and trustworthy
Errors might happened
No evidence is recorded
Not as convenient as advertised
A
A
A
B
Transactional Channels – Intention & Concerns Customers appear to be increasingly open to the use of technology to
improve convenience in banking, but ‘trust’ issues still exist.
Intentions of Usage
•Sources: Nielsen Vietnam PFM
33
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
Base: Bank users (Round 7-12)
Mobile banking
(n=76)
Online banking
(n=61)
SAFETY (81%)
• I feel secured and safe (51%)
• Popular/ widely used (14%)
• Stable system, no technical errors (13%)
• High level of security (6%)
• No mistakes occur during transaction (6%)
• Supported/ recommended by others (5%)
STAFF (17%)
• Well explained services by staff (10%)
SAFETY (86%)
• I feel secured and safe (60%)
• High level of security (20%)
• Trust-worthy (9%)
• Popular/ widely used (6%)
STAFF (26%)
• Well explained services by staff (8%)
• Staff are agile and efficient (5%)
CONVENIENCE (5%)
Remote Channels Users – Improvements wantedImproved security measures (or education around these) would greatly ease
customer concerns and drive intention into actual usage.
•Sources: Nielsen Vietnam PFM
34
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Nielsen Finance IPG 2011
Rural
Vietnam
Nielsen is thekey provider of
a valuable
spectrum of
category & brand
insights…
…the next
frontier of
growth?
35
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
Vietnam
Population 88 millions
Male
Female
43.1 millions (49.5%)
43.9 millions (50.5%)
Urban 2009
Rural 2009
29.6%
70.4%
Cantho
Ho Chi Minh
Danang
Hanoi
Haiphong
Nhatrangapprox.
62,000,000
Vietnam - Rural population
36
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Nielsen Finance IPG 2011
Despite concerns, leaders remain optimistic on strong growth largely via increasing demand & business expansion (secondary cities / rural)
4 5 2
17 14
7
1712
12
20
28
17
20
2131 30
23
11
2009 2nd half 2010 1st half 2010 2nd half
>25%
21% - 25%
16% - 20%
11% - 15%
6% - 10%
Less than 5%
Expected company growth rate
in N12M
•Sources: Nielsen Business Barometer
12
14
31
43
45
76
72
Improved business conditions in your
industry overall
Improved business conditions in
Vietnam overall
Increased marketing expenses
Expansion to new categories/
industries
Expansion to modern trade channel
Expansion to secondary
cities/ rural areas
Increased consumer demand in
your existing categories/ industry
Expected top factors for company growth
91%
37
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
* Six City, 30 cities and Rural store numbers and ACV from census results, 53 Cities estimated.
7461
2739
5
6
14
7
7
10
22 14
1423
37 40
0
20
40
60
80
100
Population Stores Retail Sales FMCG
6 Cities
30 Cities
53 Cities
Rural
National FMCG Retail Market Structure
Rural Market – Size of the market
The huge rural population of Vietnam accounts for 39% of today’s FMCG
sales - but is there any money for the banks?
•Sources: Nielsen Retail Audit
38
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
Urban Rural
158%
177%
Source: Government Statistics Offices
Rural growing faster than Urban
%: GROWTH vs. 2002
Rural income levels are only
fours years behind Urban levels
Monthly Average Income Per Capita
Rural Market – Strong growth Whilst income levels in the rural market remain well below those of urban
areas the growth levels are actually very similar.
The average income could be only 4 years behind the urban average.
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2002 2004 2006 2008
39
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
Central Highlands
North West / North East
South East
Mekong
Delta
North Central
Red River
Delta
South Central
Ha NoiNorth:
462,000 VND
Central:
377,000 VND
South:
571,000 VND
How Much Per Month?
75%
How Many Households Save? Where Does it go?
Keep at home: 87%
Buy gold: 7%
Savings Account: 6%
Foreign currency: 2%
Buy insurance: 2%
Rural Market – Is there any money?
75% of rural families claim to save every month. Although the actual
amounts are around half of that in urban areas 87% is still kept in the home.
Monthly Average Saving
Amount – Mean score
HCM 1,373,180 VND
Hanoi 992,834 VND
•Sources: Nielsen Rural Syndication
40
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
Current Usage
(n=1800)
Intention
(n=1800)
Current Usage
(n=4200)
28
9
3
1
22
37
22
7
4
5
1
3
Future Usage
(n=4200)
6
13
1
5
ATM/ debit card
Deposit/ saving account at bank
Domestic money transfer/payment
Loan services provided by banks
Urban (Q1 2011) Rural 2010
Rural Hotspots
Rural Market – Which products should be the focus?Rural demand for cards is understandably low, but demand for savings and
loans not so different to urban areas. There are hotspots with some usage.
Current Usage
(n=300)
16
14 12
15
Current Usage
(n=120)
Dak Lak Yen Bai
Nielsen’s Rural Syndication report has basic information on 21
provinces, including current usage and future intention of products
•Sources: Nielsen Rural Syndication
41
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
Best rates
11%
Stood out
11%
Seen on TV
5%
Family
Recommend
ation
42%
Usage TriggersBrand Awareness Customer Share
84%
53%
25%
19%
19%
62%
15%
Rural Market – The current status Although bank presence varies considerably by region there are only two
main players who currently have a strong presence across the market.
A two horse race?
•Sources: Nielsen Rural Syndication
Nielsen Finance IPG 2011
Summary
43
Copyright © 2010 The Nielsen Company. Confidential and proprietary.
Nielsen Finance IPG 2011
Market Volatility = Customer UncertaintyGrowth expectations, Inflation, currency devaluations and unstable consumer confidence are part of daily in life in
Vietnam at present. These messages and events are having a real impact on the customer mindset. Get in touch with
the customer mindset, their needs haven’t gone away.
Communication EffectivenessAt present there appear to be limitations on what financial services advertising is achieving. What are you trying to
achieve? If its simply building awareness of your brand then fine but if its more than that what does your advertising to
do differentiate your brand and how does that effect the consumer mindset?
Technology is welcomeThese innovations are finally being accepted by the market in connection with financial services. Establishing a strong
reputation for efficient and secure remote banking channels will drive usage, positively enhance your brand and attract
new customers.
Rural – Now or Next?The rural market represents a huge number of potential new customers, but is there enough positive sentiment or
financial reward in being there now? Are you positioned to act now and if you don’t will you get left behind?
Summary
Nielsen Finance IPG 2011
Thank you.
Questions?