Decision Lab Connected Consumer Q4 2023

The Connected Consumer
The Rise of
Social Commerce
QUARTER IV 2023
Content
1. Introduction
2. Social Media Platforms
3. Platforms by Activities
4. Platforms by Utilities
5. Opportunities for brands
6. Our solutions
7. Contact us
2
2
Introduction
3
Background
The Connected Consumer is a quarterly report conducted by Decision Lab

since 2019. The study aims to provide the latest updates about Vietnamese
digital consumption to support brands connect with consumers most
effectively. Information in the report is analysed by Decision Lab’s expert
consultants and focuses on consumers’ online habits, including social
media usage, entertainment (music, movies, online videos), and utilities.
Disclaimer: This report has been prepared solely for information purposes over a limited time period to provide a perspective on the market.
Information, analyses and conclusions contained herein should not be construed as definitive forecasts or guarantees of future performance or results.
Decision Lab shall not be liable for any loss arising from the use of this report.
4
Key highlights
01. 02. 03.

Consumers seeking more purposeful A shift towards social commerce for XanhSM, an electric ride-hailing
digital platform usage online shopping service, is emerging as a rising star in
the category
Despite a decline in entertaining Consumers increasingly prefer
activities in Q4 2023, consumers platforms that seamlessly blend Vietnamese consumers show
remain engaged in utility services, multi-purposes, not just entertainment favorability and adoption of
signalling a possible shift towards and shopping features. embracing sustainable,
prioritising essential digital needs over environmentally-conscious practices.
recreational ones towards year-end.
5
Online quantitative survey using online panel
QUARTER SAMPLE COLLECTION PERIOD TOTAL SAMPLE SIZE
Q4 2023 Oct 2023 – Dec 2023 1,330 NORTHERN

MIDLANDS AND
MOUNTAINS
Q3 2023 Jul 2023 – Sep 2023 1,330
RED RIVER DELTA
Q2 2023 Apr 2023 – Jun 2023 1,603 Sample size
400
Q1 2023 Jan 2023 – Mar 2023 1,741
Q4 2022 Oct 2022 – Dec 2022 1,584
Q3 2022 Jul 2022 – Sep 2022 1,507 100

NORTH AND SOUTH
CENTRAL COAST
Q2 2022 Apr 2022 – Jun 2022 1,644 CENTRAL HIGHLANDS
Q1 2022 Jan 2022 – Mar 2022 1,455
Q4 2021 Oct 2021 – Dec 2021 881

SOUTHEAST
Q3 2021 Jul 2021 – Sep 2021 1,440 MEKONG RIVER DELTA
Q2 2021 Apr 2021 – Jun 2021 1,833
Q1 2021 Jan 2021 – Mar 2021 2,028
6
The Connected Consumers’ profiles
Generation Z Generation Y (Millennials) Generation X

Born between 1997 – 2005 Born between 1981 – 1996 Born between 1960 – 1980
Age 18 - 26 Age 27 - 42 Age 43 - 63
7
Social Media
Platforms
8
Top social media platforms—Penetration rates (%) Overall, the
majority of
100% 95%
Facebook platforms show a
90%
90% Zalo
sign of
80%
88% YouTube stabilisation in
70%
67% penetration rate,
TikTok including TikTok,
60%
after a period of
46%
50% solid growth
Instagram
40%
30% Zalo and YouTube

are closing the
20%
penetration gap
10% with the leading
0% Facebook over
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 time
2019 2020 2021 2022 2023
Source: Decision Lab Connected Consumer Survey Q4 2023 n=1,330
Q Which of the following social media platforms are you using? (Choose all that apply)
Threads’ penetration (by generations)
6%
5%
4%
3%
3%
3%
2%
1%
All Gen X Gen Y Gen Z

As a trend-setter, Gen Z Q3 2023 Q4 2023 2
shows strong adoption of
Threads, the new public Source: Decision Lab Connected Consumer Survey Q4 2023 Gen Z n=455
conversation app in Vietnam Gen Y n=551

Gen X n=324
Q Of the following, what social media platform do you use? You can choose multiple options.
10
On average, Gen Z Average number of social media platforms used by generation
continues using 5
social media
platforms, while Gen
Y and X uses 4
4 apps 4 apps 5 apps

for Generation X for Generation Y for Generation Z
n=387 n=677 n=529
Source: Decision Lab Connected Consumer Survey Q4 2023
Q Which of the following social media platforms are you using? Select all that apply.
11
Despite owning the Intention to quit at least one social media by generation
highest number of
social platforms,
nearly eight in ten
Gen Z continue to
express the desire
to remove at least
one platform in their
daily life
53% 67% 76%

Of Generation X Of Generation Y Of Generation Z
n=387 n=677 n=529
Source: Decision Lab Connected Consumer Survey Q4 2023
Q Have you ever wanted to quit any of these social media platforms? You can select multiple options.
12
An average person
cannot live without
2
Among these, Facebook is
social
platforms
indispensable for Gen Z, with nearly
seven out of ten unable to function
without this app.
Meanwhile, Zalo is essential for Gen X.
Q What social media platform do you think you can't live without?
Select all that apply. (Q4 2023, n=1,330)
13
Consistently, Facebook and Zalo are also the primary social media platforms for Vietnamese.
Notably, Facebook made a strong comeback, with Gen Z being the main driving force
Top social media platforms – Preference rate (%) by generations
Generation X Generation Y Generation Z
42% 40%
Zalo Facebook 52%
Facebook
32% 31% 16%

YouTube
Facebook Zalo
14%
TikTok
20% 18%
YouTube YouTube
12%
Zalo
3% 6%
TikTok TikTok 3%
Instagram
Source: Decision Lab Connected Consumer Survey Q4 2023 n=257 n=429 n=382
Q If you can only use one social media platform, which platform will you select? Q4 2023 Q3 2023 Q2 2023 Q1 2023
14
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16
Platforms by
activities
Casual browsing Music streaming

Entertainment videos News
Short videos Livestreaming
Movie streaming
18
Top platforms for mindless browsing - Penetration rate (%)
Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
72%
54%
45%
37%
Casual browsing 19%
Facebook continues to dominate the

usage of mindless scrolling.
Meanwhile, top improvers are YouTube Facebook YouTube TikTok Zalo Instagram
and Zalo, having experienced significant

growth in this area, with a 10% and 11%
increase respectively.
When you browse websites or apps without any specific purpose, which website or app did you use?
Q
Choose all that apply.
19
Casual browsing | Entertainment videos | Short videos | Movie streaming | Music streaming | News | Livestreaming
Gen X emerges as the significant source of growth for YouTube and Zalo,
whereas Gen Z primarily contributes to the increase of TikTok
Top platforms for mindless browsing – Penetration rate (%) by generations
68% 72% 74%

Facebook Facebook Facebook
61% 52% 58%

YouTube YouTube TikTok
47% 44% 49%

Zalo TikTok YouTube
Q When you browse websites or apps without any specific purpose, which website or app did you use? Choose all that apply Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
20
Facebook has experienced a decline, yet still leads in favourability of platforms

for mindless browsing
Top platforms for mindless browsing – Preference rate (%)
Facebook TikTok YouTube
Q4 2023 Q4 2023 Q4 2023
41% (-4%) 19% (-2%) 16% (+1%)
41%
19% 16%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2021 2022 2023 2021 2022 2023 2021 2022 2023
Q When you browse websites or apps without any specific purpose, which website or app did you use the most?
21
Specifically, Facebook’s decline in favourability is mostly observed

among two older generations
Top platforms for mindless browsing – Preference rate (%) by generations
41% 43% 46%

Facebook Facebook Facebook
19% 19% 28%

TikTok TikTok TikTok
16% 16% 10%

YouTube YouTube YouTube
Q When you browse websites or apps without any specific purpose, which website or app did you use the most? Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
22
Top platforms for entertainment videos-Penetration rate (%)
Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
84%
46% 44%
Entertainment videos
14%
The entertainment category in Q4 2023 is 12% 10% 9%
rather disheartening, as all hubs for

entertainment have observed a downward YouTube Facebook TikTok Zalo Local Instagram Google
trend in penetration. apps/…
Q Which websites/apps do you use to watch music or entertainment videos? Choose all that apply.
23
Despite the gloomy usage outlook for the entertainment category, preference rates of top 3
platforms YouTube, TikTok, and Facebook remain stable
Top platforms for entertainment videos – Preference rate (%)
YouTube TikTok Facebook
Q4 2023 Q4 2023 Q4 2023
61% (+2%) 19% (+0%) 13% (+0%)

61%
19%
13%
2021 2022 2023 2021 2022 2023 2021 2022 2023
Q Which websites/apps do you use most frequently to watch music or entertaining videos?
24
Although YouTube reigns supreme over other platforms in preference across all generations,
TikTok's steady growth over time is gradually narrowing the gap
Top platforms for entertainment videos – Preference rate (%) by generations
75% 61% 48%

10% 17% 35%

Facebook TikTok TikTok
7% 15% 12%
TikTok Facebook Facebook
Q Which websites/apps do you use most frequently to watch music or entertaining videos? Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
25
Top platforms for short videos - Penetration rate (%)
Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
61%
52%
43%
Short videos
14% 12%
Facebook Reels witnessed a decline in
usage, letting TikTok secure a dominant
leading position in short videos
penetration. TikTok Facebook YouTube Zalo Instagram
Q Which websites/apps do you use to watch short videos (<3mins)? Choose all that apply.
26
TikTok also maintained its dominance in short-video preferences
Top platforms for short videos – Preference rate (%)
TikTok Facebook YouTube
Q4 2023 Q4 2023 Q4 2023
49% (+4%) 26% (-1%) 20% (-1%)
26% 20%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4. Q1 Q2 Q3 Q4
2021 2022 2023 2021 2022 2023 2021 2022 2023
Q Which websites/apps do you use most frequently to watch short videos (<3mins)?
27
With the growth among Gen X, TikTok has surpassed Facebook to become the most frequently
used short video platform across all generations
Top platforms for short videos – Preference rate (%) by generations
40% 45% 65%

TikTok TikTok TikTok
28% 33% 15%

Facebook Facebook YouTube
26% 20% 15%

YouTube YouTube Facebook
Q Which websites/apps do you use most frequently to watch short videos (<3mins)? Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
28
Top platforms for movie streaming - Penetration rate (%)
Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022

73%
Movie streaming 29% 29% 28% 26%

19%
13% 12% 12%
The outlook for the movie streaming
5%
remains stable, with YouTube continuing to
dominate this category.
YouTube FPT Play Fac ebook VTV Go Netflix VieOn K+ MyTV Net Viettel TV Fim+/Galaxy
Play
Q Which website/apps do you use to watch movies/TV shows? Choose all that apply.
29
Local movie streaming penetration rate (by two key cities)

The local streaming market is becoming increasingly competitive: FPT Play has overtaken VTV Go as the top choice in Hanoi,
while VieON gains usage in both key cities, securing a steady user base
Hanoi Ho Chi Minh City
40% FPT Play 34%

FPT Play
33% VieOn 29%

VTV Go
23% VTV Go 22%

VieOn
Viettel TV 14% MyTV Net 14%
MyTV Net 12% Viettel TV 14%
Source: Decision Lab Connected Consumer Survey Q4 2023 n=381 Source: Decision Lab Connected Consumer Survey Q4 2023 n=500
Q Which of the following apps do you use most often to watch movies? Q4 2023 Q3 2023
30
It is also getting harder for the international player Netflix to compete as they experienced a
downturn in preference rate over 2023
Top platforms for movie streaming – Preference rate (%)
YouTube Local platforms* Netflix
Q4 2023 Q4 2023 Q4 2023
45% (+4%) 33% (+0%) 9% (-1%)
45%
33%
9%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2021 2022 2023
2021 2022 2023 2021 2022 2023
Q Which of the following apps do you use most often to watch movies? *Local platforms include: FPT Play, VTV Go, Keeng, MyTV Net, Viettel TV, Fim+/Galaxy Play, & VieON
31
With the strong recovery, YouTube is back in the game with local players competing as the most
frequently used platform for movie streaming among Gen X
Top platforms for movie streaming – Preference rate (%) by generations
43% 44% 49%

Local movie sites / 41% Local movie sites / 32% Local movie sites / 24%
apps apps apps
5% 11% 13%
Facebook Facebook Netflix
5% 9% 8%
Netflix Netflix Facebook
4% 4% 5%
Google search Google search Google search
Q Which of the following apps do you use most often to watch movies? Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
32
Top platforms for music streaming - Penetration rate (%)
Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
76%
51%
33%
Music streaming 25% 25%
11% 10% 10%

Besides movie streaming, YouTube also
5%
dominates the music streaming category.
YouTube ZingMP3 Nhacc uatui Spotify TikTok Apple Music Google SoundCloud Chiasenhac
Meanwhile, long-standing local platforms, Search
Zing MP3 and Nhaccuatui, have observed a

declining trend over the year.
Q Which apps or websites do you use to listen to music? Choose all that apply.
33
Spotify has reclaimed its position as the third most preferred platform for
music streaming with TikTok’s decline
Top platforms for music streaming – Preference rate (%)
YouTube ZingMP3 Spotify
Q4 2023 Q4 2023 Q4 2023
49% (-5%) 21% (+1%) 10% (+3%)
49%
21%
10%
Q1 2022 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2022 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2022 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4
Q Which of the following apps or websites do you use most often to listen to music?
34
Preference for Spotify surges across generation, particularly among Gen Z
Top platforms for music streaming – Preference rate (%) by generations
53% 49% 43%

21% 26% 20%

ZingMP3 ZingMP3 Spotify
16% 8% 16%
Nhaccuatui Spotify ZingMP3
5% 7% 9%
Spotify Nhacuatui TikTok
2% 4% 6%
Apple Music TikTok SoundCloud
Q Which of the following apps or websites do you use most often to listen to music? Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
35
Top platforms for news—Penetration rate (%)
Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
58%
37% 37%
25% 23%
News 17%
10%
Social media platforms, including

Facebook, YouTube, and Zalo, have Facebook I read Local YouTube Zalo TikTok Instagram
news from news
countered the downswing over the year.
Google website or
Meanwhile, local news platforms remain app
intact, reinforcing their position in

authoritative news updates.
Q Which websites/apps do you use to read news? Choose all that apply.
36
Despite stabilising in overall usage, local publishers amplify their upward trajectory with
a 5% growth in preference for news updates
Top platforms for news – Preference rate (%)
Facebook Local publishers Google search
Q4 2023 Q4 2023 Q4 2023
32% (-2%) 27% (+5%) 19% (-2%)
32% 27%
19%
2021 2022 2023 2021 2022 2023 2021 2022 2023
Q Which websites/apps do you use most often to read news?
37
Growing preference for local publishers is evident across all age groups. Combined with a
decline in news updates through social media like Facebook, this suggested that consumers
were increasingly inclined to read news from local sites
Top platforms for news – Preference rate (%) by generations
32% 31% 45%

Facebook
Local sites Facebook
18%
25% 30% Google
Google Local sites
Local 16%
21% 17% sites

Facebook Google 7%
TikTok
10% 8%
YouTube YouTube 4%
YouTube
Q Which websites/apps do you use most often to read news? Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
38
Top platforms for livestreaming—Penetration rate (%)
Q4 2023
66%
46% 45%
22%
Livestreaming 12% 11%
6%
Vietnamese consumers primarily use
social media, like Facebook, YouTube and Facebook YouTube TikTok Shopee Instagram Lazada Bigo Live
TikTok, for livestream viewing, potentially
because of its integrated entertainment
and shopping features. Facebook
outpaced other platforms with a Source: Decision Lab Connected Consumer Survey Q4 2023 n=1,330
commanding 66% usage. Q

Supposed you want to watch some livestreaming content, which website or app would you use? Select all that
apply.
39
Despite its lower penetration rate, TikTok has surpassed YouTube to become the second-
favourite livestream viewing platform. The leaderboard again highlights consumers' preference
of watching livestreams via social platforms over e-commerce platforms
Top platforms for livestreaming – Preference rate (%)
Facebook TikTok YouTube
Q4 2023 Q4 2023 Q4 2023
38% 26% 22%

Q Supposed you want to watch some livestreaming content, which website or app would you use most frequently?
40
TikTok's popularity is strongest among Gen Z, outshining Facebook. In contrast, Gen X shows a
predilection for Facebook over TikTok
Top platforms for livestreaming – Preference rate (%) by generations
Facebook 48% Facebook 43% TikTok 38%
YouTube 26% TikTok 24% YouTube 22%
TikTok 14% YouTube 19% Facebook 22%
Shopee 5% Shopee 6% Shopee 8%
Lazada 2% Bigo Live 2% Instagram 4%
Q Supposed you want to watch some livestreaming content, which website or app would you use most frequently? Q4 2023
41
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Platforms by
Utilities
Online shopping
Messaging
Digital finance
Food delivery
Ride-hailing
46
Top platforms for online shopping —Penetration rate (%)
Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
76%
51%
Online shopping 37% 36%
platforms 27%
20% 19%
E-commerce sites have experienced a

decline, while social commerce and brand
websites have increased in usage. Shopee Lazada TikTok Facebook Tiki Sendo Zalo
The highlight in this category goes to

TikTok and Zalo for their improvements
over the year
Q Which of the following platforms/apps do you use for online shopping? Choose all that apply.
47
Online shopping | Messaging | E-wallet | Food delivery | Ride-hailing
While the top preferred platforms for online shopping remain unchanged, calling Shopee and
Lazada, Facebook stands out as the only social platform with growth in favourability
Top platforms for online shopping – Preference rate (%)
Shopee Lazada Facebook
Q4 2023 Q4 2023 Q4 2023
54% (-2%) 18% (-3%) 9% (+3%)
54%
18%
9%
2021 2022 2023 2021 2022 2023 2021 2022 2023
Q Which of the following platforms/apps do you use most often for online shopping?
48
Online shopping | Messaging | E-wallet | Food delivery | Ride-hailing
Facebook’s growth mainly comes from Gen Z, while Lazada declines. Notably, Zalo’s preference
is strongest among Gen X, while TikTok is prominent among Gen Y. The outlook again highlights
the intensifying competition between e-commerce and social commerce in online shopping
Top platforms for online shopping – Preference rate (%) by generations
36% 51% 75%

Shopee Shopee Shopee
31% 18% 6%
Lazada Lazada Lazada
11% 11% 5%
Facebook Facebook TikTok
6% 9% 4%
Zalo TikTok Facebook
4% 4% 3%
Tiki YouTube Tiki
Q Which of the following platforms/apps do you use most often for online shopping? Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
49
Top platforms for casual messaging —Penetration rate (%)
Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
61%
52%
Messaging platforms
14% 14% 13%
Despite an overall decline in the
messaging category, Zalo and Facebook
remain Vietnam's top platforms
Facebook Messenger TikTok YouTube Instagram
Q Which websites/apps do you use to connect with friends and family? Choose all that apply.
50
Online shopping | Casual messaging | Digital finance | Food delivery | Ride-hailing
Not only in usage, Zalo and Facebook, along with Messenger also lead in being
preferred messaging apps
Top platforms for casual messaging – Preference rate (%)
Zalo Facebook Messenger
Q4 2023 Q4 2023 Q4 2023
55% (-2%) 19% (-1%) 19% (+1%)
55%
19% 19%
2021 2022 2023 2021 2022 2023 2021 2022 2023
Q Which of the following platforms/apps do you use most often for online shopping?
51
Online shopping | Casual messaging | Digital finance | Food delivery | Ride-hailing
Zalo is predominantly preferred among older age groups. However, among Gen Z, Messenger
competes fiercely with Zalo for the top spot. Meanwhile, fewer and fewer Gen X use Facebook as
their primary messaging platform
Top platforms for casual messaging – Preference rate (%) by generations
67% 59% 37%

Zalo Zalo Zalo
13% 22% 33%

Messenger Facebook Messenger
11% 12% 22%

Facebook Messenger Facebook
Q Which of the following platforms/apps do you use most often for online shopping? Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
52
Top platforms for business messaging – Penetration rate (%)
50%
45% 43%
34%
32%
Business messaging 18%

platforms
In-app messaging outshines traditional calling
and texting to connect with businesses.
Facebook E-commerce Zalo Messenger TikTok Direct phone
Facebook is ahead of other platforms when in-app call
consumers need to get in touch with the sellers. messaging
Source: Decision Lab Connected Consumer Survey Q4 2023 n=1330
Supposed you are doing online shopping and want to connect with businesses, which website or app would
Q
you use? Choose all that apply.
53
Online shopping | Business messaging | Digital finance | Food delivery | Ride-hailing
Despite being a leader in usage, Facebook lags significantly behind e-commerce in-app
messaging as the preferred choice for business messaging apps
Top platforms for business messaging – Preference rate (%)
E-commerce in-app messaging Facebook Zalo
Q4 2023 Q4 2023 Q4 2023
35% 18% 16%

Q Supposed you are doing online shopping and want to connect with businesses, which website or app would you use most frequently?
54
Online shopping | Business messaging | Digital finance | Food delivery | Ride-hailing
E-commerce sites are the preferred communication platform across generations. While Gen Z
particularly engages more with sellers via TikTok, the older generations use Facebook and Zalo
more often
Top platforms for business messaging – Preference rate (%) by generations
E-commerce in-app E-commerce in-app E-commerce in-app

30% 30% 46%
messaging messaging messaging
Zalo 22% Facebook 24% TikTok 13%
Facebook 17% Zalo 16% Messenger 13%
Q Supposed you are doing online shopping and want to connect with businesses, which website or app would you use most frequently? Q4 2023
55
Top digital financial platforms —Penetration rate (%)
Q4 2023
62%
45%
Digital finance 27% 26%

23%
platforms 17%
When asked about digital finance platform

usage, consumers select their top 5 being
e–wallet brands and banking apps. MoMo ZaloPay ViettelPay ShopeePay Bank's own VNPAY
app
In specific, MoMo holds the top spot on the
most used digital finance platform.
Q Which digital finance platforms do you use? Choose all that apply.
56
Online shopping | Messaging | Digital finance | Food delivery | Ride-hailing
MoMo also wins as the most frequently used digital finance platform,
followed by banking apps and ZaloPay
Top platforms for digital finance – Preference rate (%)
MoMo Bank’s own app ZaloPay
Q4 2023 Q4 2023 Q4 2023
41% 17% 16%

Q Which digital finance platforms do you use most often?
57
Apple Pay’ penetration (by generations)
7.6%
7.2%
7%
6.8%
Upon the launch in early

August 2023 in Vietnam All Gen X Gen Y Gen Z
market, Apple Pay recorded a All Gen X Gen Y Gen Z
penetration rate of 7%,
skewing towards the Source: Decision Lab Connected Consumer Survey Q4 2023 Gen Z n=455
youngest generation Gen Y n=551

Gen X n=324
Q Which digital finance platforms do you use? Choose all that apply.
58
The top 3 preferred digital finance platforms remain the same across generations
Notably, Gen X shows strong favourability for Viettel Pay
Top platforms for digital finance – Preference rate (%) by generations
MoMo 40% MoMo 42% MoMo 41%
Bank's own app 16% ZaloPay 15% Bank's own app 20%
ZaloPay 14% Bank's own app 15% ZaloPay 18%
Viettel Pay 14% ViettelPay 10% ShopeePay 6%
ShopeePay 5% ShopeePay 7% ViettelPay 6%
Q Which digital finance platforms do you use most often? Q4 2023
59
Bill payments, money transfers and QR code payments are the most used functions of digital
finance platforms. Interestingly, Gen Z also tend to use digital finance platforms to save money
Transferring money to
Paying bills 53% Paying bills 38% 33%
other users
Transferring money to Transferring money to

other users
20% other users
26% Paying bills 26%
Transaction using QR Transaction using QR

code
8% Transaction using QR code 16% code
19%
Expense tracking 5% Savings 9% Savings 11%
Savings 5% Expense tracking 5% Expense tracking 6%
Q What functions do you use your digital finance app for most frequently? Select the digital finance function that you use most frequently Q4 2023
60
Top platforms for food delivery—Penetration rate (%)
Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
48% 48%
26%
23%
Food delivery platforms 16%
8%
ShopeeFood and Grab Food continue to
lead the food delivery service category.
However, the highlight of 2023 goes to ShopeeFood GrabFood GoFood Brand Baemin Loship
ShopeeFood for its growth. websites
Q Which food delivery apps do you use? Choose all that apply.
61
ShopeeFood’s improvement is also seen in user preference, narrowing the gap and competing
fiercely against GrabFood
Top platforms for food delivery – Preference rate (%)
GrabFood ShopeeFood Brand Websites
Q4 2023 Q4 2023 Q4 2023
36% (-5%) 35% (+3%) 12% (+1%)
36% 35%
12%
Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023
Q Which food delivery app do you use most often?
62
Gen Y’s increase in preference and the dominant position among Gen X are the main driving
forces behind ShopeeFood’s growth
Top platforms for food delivery – Preference rate (%) by generations
44% 39% 47%

GrabFood GrabFood ShopeeFood
25% 32% 26%

ShopeeFood ShopeeFood GrabFood
16% 15% 8%
Brand websites Brand websites GoFood
12% 8% 7%
GoFood GoFood Baemin
2% 4% 7%
Baemin Baemin Brand websites
Q Which food delivery app do you use most often? Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
63
Top platforms for ride-hailing—Penetration rate (%)
Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022

68%
Ride-hailing platforms 23% 22% 21% 20%

17%
The outlook of the ride-hailing service

category remains relatively unchanged
compared to Q3 2023.
Grab Be Mai Linh Taxi XanhSM GoJek Traditional
taxi-bicycle
Significantly, a new rising star, XanhSM has
surpassed Gojek in usage rate.
Q Which apps or methods do you use for ride-hailing? Choose all that apply.
64
Grab’s dominant position in consumers' preferences for ride-hailing services remains

unchanged, following by Mai Linh Taxi, Be and the new-rising star XanhSM
Top platforms for ride-hailing – Preference rate (%)
Grab Mai Linh Taxi Be XanhSM
Q4 2023 Q4 2023 Q4 2023 Q4 2023
53% (-2%) 8% (-1%) 8% (-2%) 8%

53%
8% 8%
Q4 Q1 2023 Q2 Q3 Q4 Q4 Q1 2023 Q2 Q3 Q4 Q4 Q1 2023 Q2 Q3 Q4

2022 2023 2023 2023 2022 2023 2023 2023 2022 2023 2023 2023
Q Which ride-hailing app or method do you use most often?
65
Though both are home-grown apps, Be’s appeal remains strong only in Gen Z while XanhSM is
favoured across all generations. Among Gen X, the lines are blurring between traditional and
app-based ride-hailing providers
Top platforms for ride-hailing – Preference rate (%) by generations
50% 57% 52%

Grab Grab Grab
Traditional taxi- 9% 12% 15%

Mai Linh Taxi Be
bicycle
6% 8% 8%
Mai Linh Taxi XanhSM XanhSM
6% 5% 7%
VinaTaxi Vinasun Taxi GoJek
5% 5% 5%
XanhSM Be Mai Linh Taxi
Q Which ride-hailing app or method do you use most often? Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022
66
Opportunities for brands
01. 02. 03.

CONSUMERS ARE LOOKING FOR A SHIFT OF PREFERENCE TOWARDS XANHSM – ELECTRIC RIDE
MORE PURPOSEFUL USAGE OF SOCIAL COMMERCE FOR ONLINE HAILDING SERVICE HAS BECOME
DIGITAL PLATFORMS SHOPPING THE RISING STAR IN THE CATEGORY
It is about meaningful engagement Brands can explore incorporating As consumers become more
and creating value that resonates with features such as shoppable posts, live environmentally aware and educated
this discerning audience. streaming shopping events, and in- about sustainability, brands should
app purchases to make the shopping integrate green marketing strategies
experience seamless and and into their initiatives.
convenient for consumers.
67
Discover how your brand
performed and gain
valuable customer insights
LET’S DIVE DEEPER

Investigate your brand health & key attributes
from the point of view of consumers
Track your brand performance across
segments & within product categories
Benchmark your customer conversion against

the competition to strengthen the market
positioning
69
Introducing
Powerful, daily brand and competitor tracking
YouGov BrandIndex tracks brand health with daily consumer data in 55+ markets. Use historical and
current data to compare your brand with competitors and the market on 16 vital brand health metrics.
In Vietnam, we cover more than 350 brands across ten different sectors.
365 brands 10 sectors Daily data

Regularly updated Covering all major Collected daily,
and growing industries always relevant
*Figures are of Vietnam market

Visit our library
Click the images to
go to the reports.
EuroCham The Connected Consumer Financial Trends Report 2023

Business Confidence Index (Quarterly report)
(Quarterly report)
Food & Beverage

Trends in Vietnam
DECISION LAB
BrandIndex Brand Rankings The Future of Work F&B Trends in Vietnam
78
Reach out to us
2nd Floor - Sonatus Building,
15 Le Thanh Ton, District 1,
Ho Chi Minh City, Vietnam
+84 28 7101 0199

decision@decisionlab.co
www.decisionlab.co
79

Decision Lab Connected Consumer Q4 2023

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Decision Lab Connected Consumer Q4 2023

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The Connected Consumer

The Connected Consumer is a quarterly report conducted by Decision Lab

01. 02. 03.

Q4 2023 Oct 2023 – Dec 2023 1,330 NORTHERN

Q4 2022 Oct 2022 – Dec 2022 1,584

Q3 2022 Jul 2022 – Sep 2022 1,507 100

Q1 2022 Jan 2022 – Mar 2022 1,455

Q4 2021 Oct 2021 – Dec 2021 881

Q2 2021 Apr 2021 – Jun 2021 1,833

Q1 2021 Jan 2021 – Mar 2021 2,028

Generation Z Generation Y (Millennials) Generation X

30% Zalo and YouTube

Source: Decision Lab Connected Consumer Survey Q4 2023 n=1,330

All Gen X Gen Y Gen Z

conversation app in Vietnam Gen Y n=551

4 apps 4 apps 5 apps

n=387 n=677 n=529

Source: Decision Lab Connected Consumer Survey Q4 2023

53% 67% 76%

n=387 n=677 n=529

Source: Decision Lab Connected Consumer Survey Q4 2023

Top social media platforms – Preference rate (%) by generations

Generation X Generation Y Generation Z

32% 31% 16%

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Casual browsing Music streaming

Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022

Casual browsing 19%

Facebook continues to dominate the

and Zalo, having experienced significant

Top platforms for mindless browsing – Penetration rate (%) by generations

Generation X Generation Y Generation Z

68% 72% 74%

61% 52% 58%

47% 44% 49%

Facebook has experienced a decline, yet still leads in favourability of platforms

Top platforms for mindless browsing – Preference rate (%)

Facebook TikTok YouTube

Q4 2023 Q4 2023 Q4 2023

41% (-4%) 19% (-2%) 16% (+1%)

Source: Decision Lab Connected Consumer Survey Q4 2023 n=1,281

Specifically, Facebook’s decline in favourability is mostly observed

Top platforms for mindless browsing – Preference rate (%) by generations

Generation X Generation Y Generation Z

41% 43% 46%

19% 19% 28%

16% 16% 10%

Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022

rather disheartening, as all hubs for

Source: Decision Lab Connected Consumer Survey Q4 2023 n=1,330

Top platforms for entertainment videos – Preference rate (%)

YouTube TikTok Facebook

Q4 2023 Q4 2023 Q4 2023

61% (+2%) 19% (+0%) 13% (+0%)

Source: Decision Lab Connected Consumer Survey Q4 2023 n=1,326

Top platforms for entertainment videos – Preference rate (%) by generations

Generation X Generation Y Generation Z

75% 61% 48%

10% 17% 35%