Vietnam Marketing Trends 2024: Strategies to Maximize Growth and ROI

Vietnam is one of the most prominent and fast-growing countries in Southeast Asia — both in terms of population and economic scale.

While its economy continues to grow, labor costs and consumer prices remain relatively low, making Vietnam an increasingly attractive destination for offshoring and business expansion from Japan and other regions.

Many companies are now identifying Vietnam as a promising market for growth. However, to succeed in this environment, a well-informed marketing strategy is essential.

We’ll break down each of these points clearly and concisely from the perspective of global marketing professionals.

Vietnam’s Marketing Fundamentals: Economic and Demographic Overview

Let’s begin with an overview of Vietnam’s key economic indicators and demographic trends—foundational data for any marketing strategy.

Economic Trends

Vietnam’s economy was thriving prior to the COVID-19 pandemic but experienced a significant downturn during the crisis. That said, it rebounded strongly in 2022, achieving an 8.0% GDP growth rate as the country reopened.

However, growth has since slowed. Current projections estimate 6.3% growth in 2023 and 6.5% in 2024, reflecting a more moderate recovery trajectory.

Vietnam’s economy is heavily supported by manufacturing, and thanks to its young population, domestic consumption remains strong. Additionally, the country has an active export-oriented strategy.

That said, global instability — including geopolitical tensions, U.S. political uncertainty, and weak performance in key markets like China, the U.S., and the Eurozone — presents a major risk. Any decline in these regions could directly affect Vietnam’s export-driven sectors.

Reference: World Bank Group

Demographic Trends

Vietnam’s population has now exceeded 100 million and continues to grow steadily.

As of the end of 2022, the number of young people aged 15 to 30 was approximately 20.7 million, accounting for 20.9% of the total population.

Although not widely known, Vietnam is also undergoing rapid aging and a declining birthrate. In fact, the youth population dropped from 23.0% in 2020 to 20.9% in 2022, marking a decline of more than 2% in just two years.

Population growth remains concentrated in urban centers such as Ho Chi Minh City and Hanoi, creating challenges similar to those faced by developed countries. This signals that Vietnam is gradually progressing toward a more advanced economic structure.

Most importantly, this ongoing population growth is a major driver of economic momentum. A larger population stimulates domestic consumption, and a younger workforce contributes to cost-effective labor.

This creates a virtuous economic cycle — in stark contrast to Japan’s demographic headwinds—making it clear why both individuals and corporations are increasingly turning to Vietnam as a strategic business destination.

Reference: Ministry of Foreign Affairs in Japan

Vietnam’s Marketing Industry Outlook

While Vietnam’s overall economic growth is showing signs of slowing, its marketing industry continues to expand steadily.

Between 2023 and 2029, the market is expected to grow at an average annual rate of 5.78%, with projections estimating it will reach approximately USD 300 million by 2030.

Among all sectors, digital advertising stands out with remarkable performance — recording an impressive 23% year-on-year growth in 2023 alone.

If this momentum continues over the next five years, the market could triple in size, drawing increasing attention from both local and international players.

However, the rapid pace of expansion has outstripped regulatory oversight, leaving the industry with a number of unresolved challenges.

It’s important to note that if the Vietnamese government introduces strict regulations, there’s a risk that growth may decelerate sharply. Businesses entering this space should be aware of both the opportunities and the regulatory risks.

Reference: Vietnam Insider

Key Characteristics of Vietnamese Consumers

Next, let’s explore the defining traits of Vietnamese consumers.

Although population growth is beginning to plateau, Vietnam still has a significant and dynamic young population, making it a strong match for mobile-first and social media–driven marketing strategies.

In Japan, Vietnam is often still perceived as a developing country. However, a visit to urban centers like Ho Chi Minh City quickly reveals a lifestyle that rivals that of developed nations.

Moreover, thanks to the high momentum typical of a growth-stage economy, Vietnamese consumers tend to display strong purchasing intent — often more so than in Japan.

Unlike Japan’s aging population, which tends to value “quality” and “safety,” Vietnamese consumers are more trend-sensitive and responsive to novelty and innovation.

Offline Marketing in Vietnam

Let’s now examine the offline marketing landscape in Vietnam.

Much like Japan, the most common offline ad formats include:

• Print media

• Television commercials

• Billboards

Due to increasing urban population concentration, it’s standard practice to focus offline ad spending in major cities.

Based on past experience, the following areas are especially effective for ad placement:

In Ho Chi Minh City:

• Tan Binh District

• Tan Phu District

• Binh Thanh District

In Hanoi:

• Hoan Kiem District

• Cau Giay District

• Ba Dinh District

Targeting these key urban districts has proven to yield the highest offline marketing ROI, especially for campaigns aiming to increase mass visibility.

Reference: Shojiki.vn

Key Features of Digital Marketing in Vietnam

Next, let’s take a look at the key characteristics of digital marketing in the Vietnamese market.

Vietnamese consumers spend an average of 3 hours and 30 minutes per day on their smartphones, which is significantly higher than Japan’s average of 1 hour and 54 minutes.

This high level of mobile engagement makes digital marketing — especially mobile-first strategies — exceptionally effective in Vietnam. Brands that can meet consumers where they spend their time online are best positioned to capture attention and drive results.

Reference: Exploding Topics

Digital Marketing Trends and Practices in Vietnam

Although Vietnam’s average daily smartphone usage — 3 hours and 30 minutes — is lower than in countries like the Philippines, the country’s digital marketing landscape is highly mobile-driven, making smartphone-centric strategies the norm.

Common and effective digital approaches include:

• Search Engine Advertising (Listing Ads)

• Social Media Advertising (SNS Ads)

  
  

Reference: Top 5 Search Engines in Vietnam – Key Insights for Winning Your SEO Strategy

On the other hand, Facebook holds a dominant share of the social media advertising market in Vietnam, making it the most effective platform to focus your efforts on.

If your target audience includes younger demographics, consider leveraging TikTok. Additionally, Zalo—often referred to as the “Vietnamese version of LINE” — is another valuable option for SNS marketing, especially when aiming for localized engagement.

Reference: Vietnam Social Media Rankings 2024 – How to Leverage Internet Trends for Marketing Success

Another area worth watching is DOOH (Digital Out-of-Home) advertising, which blends digital and offline media.

DOOH refers to digital advertisements displayed in outdoor environments — such as large-format LED screens in urban areas or digital signage in public facilities like train stations, airports, and shopping centers. This format is highly effective for capturing attention in high-traffic locations and boosting brand visibility in the physical world.

As shown in the chart above, ad spending on DOOH continues to increase year over year, making it a channel worth considering as part of your marketing mix.

Tips for Successful Marketing in Vietnam

The key to successful marketing in Vietnam lies in the points mentioned above.

Considering both demographic and geographic factors, the standard approach is to target young consumers living in urban areas.

You’ll want to prepare offerings that appeal to audiences who are highly motivated to purchase and responsive to trends. This also means going beyond literal translation — adopt transcreation, a method of adapting messaging to truly resonate with local audiences.

Vietnam is known for its strong affinity toward Japan, and trust in “Made in Japan” products is remarkably high.

By leveraging this trust and highlighting Japanese quality or origin as a value proposition, you can build an advantage.

Combine listing ads and social media advertising in a dual-channel strategy to maximize reach and engagement.

Marketing Success Stories in Vietnam

Understanding real-world marketing case studies in Vietnam can help you visualize what works and how to localize your strategy effectively.

Let’s start with a notable success case from Coca-Cola.

The following YouTube campaign was launched by Coca-Cola to coincide with Tết, the Vietnamese Lunar New Year.

Tết is a deeply spiritual holiday during which it’s believed that the spirits of deceased family members return home — similar in concept to Japan’s Obon festival.

The video ad is set in the context of a typical Vietnamese household, grounding the message in everyday culture and values.

The video begins with a scene of a husband and wife preparing for Tết.

As the father opens the pull tab of a Coca-Cola can, a yellow bird — likely symbolizing the spirits or souls of deceased loved ones — takes flight, representing their presence during the Tết celebration.

The yellow birds then fly out into the city, while a group of children watches them with awe and curiosity.

The children then chase after the yellow birds while holding bottles of Coca-Cola, joyfully sharing the drink with their neighbors along the way.

Naturally, the yellow birds continue to accompany them as they move through the town, symbolizing a sense of connection and togetherness during the holiday.

Before long, the entire town is filled with yellow birds and smiling people holding Coca-Cola, creating a warm, festive atmosphere.

The ad ends with a clear brand message and the tagline “Mang kỳ diệu nhã” — which translates to “Bring magic home” — firmly reinforcing Coca-Cola’s presence in the viewer’s mind.

This campaign serves as a textbook example of how localization — adapting marketing content to fit the cultural context of the target country — can lead to meaningful engagement.

For businesses looking to enter or grow in the Vietnamese market, this campaign demonstrates the importance of deep, culturally sensitive localization, rather than simply translating global messaging.

Reference: Localization Determines the Success of Global Marketing – 4 Key Principles for Winning Local Markets

Failed Marketing Case Study in Vietnam

Next, let’s examine a well-known marketing failure in Vietnam — Starbucks’ market entry strategy.

As of 2023, Starbucks celebrated its 10th anniversary in Vietnam, marking the milestone by opening its 100th store in the country.

At first glance, 100 stores may seem substantial. However, by comparison, Japan has nearly 2,000 Starbucks locations.

Vietnam’s landmass is roughly equivalent to Japan without the Kyushu region, and the population stands at approximately 100 million.

So when viewed in context, 100 stores in 10 years is a relatively low number for a market of that scale.

Why Starbucks Struggled to Scale in Vietnam

Several local factors contributed to Starbucks’ limited expansion in Vietnam:

• Vietnam is the second-largest coffee producer in the world

• Cafés are everywhere, deeply embedded in Vietnamese culture

• Starbucks prices are 3 to 5 times higher than local coffee shops

• The taste of American-style coffee doesn’t align with local preferences

Lack of Market Research in Key Areas

This example highlights critical gaps in three pillars of successful localization:

1. Pricing Strategy

2. Product Adaptation (Taste/Quality)

3. Location Relevance

Starbucks’ failure to properly address these elements reflects a lack of sufficient market research — a mistake that significantly limited its scalability in Vietnam.

This case clearly illustrates why thorough pre-entry research and cultural understanding are essential in global marketing.

Reference: Clisk

Frequently Asked Questions (FAQ)

Here are some of the most common questions we receive from companies exploring the Vietnamese market:

• How should we create advertising content for Vietnam?

• Can we handle Vietnamese marketing in-house?

• How do digital marketing costs in Vietnam compare to Japan?

• What types of business opportunities are emerging in Vietnam?

At The Digital X, we provide marketing support across Vietnam and other Southeast Asian markets.

Through our consultations and strategy work, we frequently receive questions like those listed above — especially from companies in the early stages of market entry.

Topics like how to localize content effectively or understanding the cost structure of digital campaigns can be difficult to grasp without hands-on experience in the market.

If you’re considering or struggling with your Vietnam marketing strategy, we invite you to explore our service catalog to learn more about how we can support your expansion.

Let The Digital X Handle Your Marketing in Vietnam

Marketing in Vietnam comes with unique challenges — including language barriers, geographic distance, and cultural differences that can be difficult to navigate.

As seen in the case studies above, localization and thorough market research are critical to success. However, these require significant resources, making it difficult for most companies to handle everything in-house.

If you’re facing challenges with your Vietnam marketing strategy, The Digital X is here to help.

With a team of global marketing professionals, we offer powerful support tailored to the Vietnamese market — from strategy development to execution.

If you’re interested in learning how we can assist with your expansion into Vietnam, we encourage you to reach out through our contact page. We’d be happy to support your journey.