Preliminary 
Vietnam seesSurvey shows Vietnamese spend more on Tet
| Vietnamese women tend to worry about the Tet (Lunar New Year) banquet, clothes and decorations while men are more concerned about the holiday budget and travel plans, according to a recent survey. | |
About 84 percent of Vietnamese people surveyed said Tet was a special but expensive season which required financial and cash-flow planning, said CIMIGO, a multinational research company commissioned to conduct the first-ever market research into Vietnamese Tet spending by the HSBC group. CIMIGO interviewed 545 men and women in Hanoi and Ho Chi Minh City aged between 22 and 50 for the survey. The survey found males were more receptive to borrowing money for Tet compared to women, who tended to handle the household budget and daily expenses. Women also cared more about the aesthetic appeal of the house whereas men were more interested in practical matters like house renovations, the survey found. About 62 percent of respondents said they spent the most on the Tet banquet, 47 percent said their biggest Tet expense was clothes and 26 percent said gifts. The survey found some differences in attitudes in HCMC and Hanoi. People in HCMC said they set aside more Tet funds for clothes, lucky money and travel than those in Hanoi. About 51 percent of residents in HCMC spent more on clothes than on other things, compared to 34 percent in Hanoi. Of the HCMC residents surveyed, 24 percent said they spent the most on lucky money compared to 15 percent in Hanoi. More than half of people aged between 22 and 30 surveyed in HCMC and 43 percent in Hanoi said they were interested in dressing up. Two-thirds of people aged 31 to 50 in HCMC and half in Hanoi said they cared more about being good hosts to their guests. “This survey… (is) a part of our relentless effort to understand the mindset and preferences of local consumers,” said HSBC’s Vietnam president and chief executive officer Thomas Tobin. Most Vietnamese people regard Tet as a special but expensive season that requires careful financial planning Reported by Minh Quang | |
