OBM Syndicated Report: An analysis of Tet 2020 and Brand opportunities for Tet 2021
Since the start of 2020, the Vietnamese authorities have imposed a new ban on drunk driving. Also at this time, pork was recorded to be even more costly than beef. When there was only one day left until Tet, two first COVID-19 cases were reported in Vietnam. Due to these unexpected events, consumer behavior has been greatly affected, and Tet 2020 has become the most distinct Tet ever. Notably, COVID-19 has been estimated to influence the next Tet.
“Occasion Insight: Tet 2020”, a report by Buzzmetrics, will provide businesses with an insightful look into how the most important celebration in Vietnam has changed. We focus on the following topics:
- An overview of Tet 2020 on social media
- Spending & Shopping in Tet 2020
- Reunion & Travel in Tet 2020
- Eating in Tet 2020
For each topic, we will analyze:
- Consumer behavior and attitude;
- Social media campaigns by brands in Tet 2020;
- Brand solutions for better preparation for Tet 2021.
This article presents some interesting findings extracted from the report.
1. Under the influence of COVID-19, how has Tet 2020 changed?
On 30/12 (according to the lunar calendar), two first Covid-19 cases were reported in Vietnam, marking the emergence of the pandemic on social media. Even when the peak period of traditional Tet had ended, consumers continued talking about Tet under the influence of the pandemic. By April, Tet had lasted for 3 months, making it the longest Tet ever. Parents and students would understand what it meant to be the longest Tet, as the government kept extending the school break. People started calling this Tet by nicknames such as “Tet COVID” or “Tet Corona”.
Since (1) Tet lasted for much longer than expected and (2) the outbreak of COVID-19 had taken place by the time of Tet, consumers needed to adjust their new year plans. To be specific, they were made to stay home and take preventive measures, leading to a cut down in travel as well as other outdoor activities. Besides, unemployment due to COVID-19 is predicted to affect the preparations for the next Tet.
It is worth noting that: COVID-19 occurred 1 day before Tet, and therefore only affected Tet to some degree. In other words, the pandemic is an integral part of Tet, but Tet is not all about COVID-19. This leads to the following questions:
- Before COVID-19, what did consumers talk about? What were their biggest concerns until then? Through various phases of Tet, how did consumers’ concerns differ?
- COVID-19 affected consumers’ plans for enjoying Tet 2020. Will a change in their perception affect the way consumers celebrate Tet 2021?
Register here for the report on “Overview of Tet 2020 on social media”.
2. Shopping & Spending in Tet 2020
The outbreak of COVID-19 did affect the period of shopping and spending of consumers. In 2019, they would focus on shopping before Tet and then shifted their attention to other activities. Therefore, the shopping trendline dropped significantly during Tet and only showed a slight recovery once Tet ended. In 2020, people still kept talking about shopping until Tet, with food storage as one of the biggest topics.
For the first time in the history of Tet, face masks have become the most discussed products, besides clothing, food, and drinks. The emergence of face masks also means that consumers talked less about FMCG products.
However, to combat COVID-19, consumers did not only seek for face masks. Parents, namely moms, gave great attention to childcare products, while other consumers focused on storing food to avoid going out.
In general, COVID-19 has affected the way people do shopping. Besides that:
- Which audience segment discussed shopping the most? Why did they go shopping?
- Apart from COVID-19, which factors affected consumers’ choice of shopping?
- Which brands ran successful communication campaigns when exploring the Shopping & Spending topic?
Register here for the report “Shopping & Spending in Tet 2020”.
3. Travel & Reunion in Tet 2020
As reported by Buzzmetrics, during the early stages of COVID-19, travel was among the most affected industries. This can also be reflected by how consumers talked about Tet trips. To be specific, due to (1) travel restriction by authorities, and (2) fear of disease, more than 50% of consumers decided to cancel their trips.
Despite that, travel is still one of the most popular activities during Tet. In fact, not many brands focus on this topic, even travel booking brands. This leads to the following questions:
- Apart from COVID-19, which factors affect consumer choice of travel? Which factors can be utilized by brands to inspire people to go traveling?
- In 2019, people often mentioned family reunion along with travel. As COVID-19 affected travel, was family reunion affected?
Register here for the report “Travel & Reunion in Tet 2020”.
4. Eating in Tet 2020
Being aware of COVID-19, people discussed less about eating out. For those who still ate out, they seemed to be more careful by putting masks on their faces. This prevented them from fully enjoying an outdoor meal with friends. At the same time, people showed more concern about home cooking and food storage.
Pork price was among other factors that shaped consumer behavior. Pork is an integral part of many Tet traditional dishes. However, the price issues made people discuss more about alternative ingredients. To be specific, they shifted their attention to other types of meat, such as chicken and fish. Some of them even went vegetarian for a more diverse and cost-effective meal.
- The beginning of 2020 has also seen a new ban on drunk driving. Would this social event make alcoholic beverages disappear from Tet meals?
- When buying ingredients, which factors would consumers consider aside from prices? Would these factors also affect the consumer expectation of a “delicious” meal?
- People might talk less about eating out, but this did not mean that they gave up on this activity. So, why did they still want to go for an outdoor meal?
Register here for the report “Eating in Tet 2020”.
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