In a country where coffee is a cultural phenomenon, Nescafe’s new ready-to-serve format will be a game changer, appealing to 69% of Vietnamese consumers* for whom how well a product aligns with their time and money constraints is always/often the greatest influencer when making a purchase decision, according to GlobalData, a leading data and analytics company.
Parthasaradhi Reddy, Consumer Lead Analyst at GlobalData, comments: “With busy lifestyles, consumers often seek easy and quick-to-use food/drinks. Even with the popularity of instant coffee, Nescafe’s new liquid coffee concentrate is intended to up the game of convenience for Vietnamese consumers.
“Nescafe’s new range requires consumers to open the pack and pour the concentrate over ice for best results, making it a ready-to-serve drink with no additional effort needed from users. The new line is available in milk coffee and black coffee variants to retain traditional preferences in a country with a rich coffee culture.”
Tim Hill, Key Account Director at GlobalData Singapore, adds: “Convenience is also often rooted in a product’s ability to be inexpensive, and Nescafe’s new line fits right into this growing desire among consumers to balance affordability with ease. As many as 30% of Vietnamese shoppers concur that they associate time-saving and easy-to-use features with good value for money*.”
Reddy continues: “The innovative launch by Nescafe is targeted at young, office-going Vietnamese professionals who are often time-starved and unable to enjoy traditional coffee as it is time-consuming. As many as 74% of Vietnamese consumers aged 25 to 44 years stated they are always/often influenced by how well a product aligns with their time/money constraints, as opposed to just 33% of those above the age of 65, who said the same*.”
Hill concludes: “Nestlé’s popularity in the coffee market, coupled with the growing preference for convenience across Vietnam and Asia, will drive more opportunities for the new ready-to-serve range across the region.”
*GlobalData 2023 Q4 Consumer Survey Results – Vietnam, consisted of 500 respondents and was published in December 2023
