{"id":23208,"date":"2023-11-08T16:04:26","date_gmt":"2023-11-08T09:04:26","guid":{"rendered":"https:\/\/staging.cimigo.com\/?p=23208"},"modified":"2023-11-08T16:04:26","modified_gmt":"2023-11-08T09:04:26","slug":"rethinking-myths-for-the-vietnam-seniors-market","status":"publish","type":"post","link":"https:\/\/staging.cimigo.com\/id\/trends\/rethinking-myths-for-the-vietnam-seniors-market\/","title":{"rendered":"Rethinking myths for the Vietnam seniors market"},"content":{"rendered":"\r\n\r\nThe Vietnam seniors market is misunderstood and rife with myths. We seek to dispel some common myths when marketing to seniors in Vietnam.\r\n\r\n\r\n\r\n\r\n

Authors Thy Nguyen and Quynh Nguyen \u2013 Strategy team of VMLY&R<\/a><\/h3>\r\n\r\n\r\n\r\n\r\n5 min read<\/em>\r\n\r\n\r\n\r\n\r\n
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\"Rethinking<\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n\r\n

How well do you know your parents?<\/strong><\/h2>\r\n\r\n\r\n\r\n\r\nAs a marketer, ask yourself: Do you know your parents? Do you pay attention to their behaviours? What do they like to buy? How much do they spend and what do they get up to in their daily lives?\r\n\r\n\r\n\r\n\r\n\r\nIt\u2019s easy to overlook how little we know about our parents and other people their age. Our knowledge about them usually comes from marketing lessons that we – the digital generation – teach ourselves. And usually, it\u2019s based around the idea that the over 50\u2019s whom Cimigo name as the silver generation are homely grandmas doing tai chi in parks, drinking tea and looking after their grandchildren.\r\n\r\n\r\n\r\n\r\n\r\nIt’s time to think again. And it\u2019s important that we do so because people over the age of 50 are fast becoming one of the fastest-growing untapped consumer segments, expected to account for a more than 36% of Vietnam\u2019s population by 2036.\r\n\r\n\r\n\r\n\r\n\r\nTruth is, many of the preconceptions we have about older people, are too often based on assumptions and myths, rather than facts.\r\n\r\n\r\n\r\n\r\n

Download Aging Silver Generation of Vietnam now<\/a><\/p>\r\n\r\n\r\n\r\n\r\nDispelling these ideas and replacing them with real data and insights will be crucial for marketers and brands wanting to make real, authentic connections with these consumers. Cimigo<\/a>, dug deeper to understand the reality of some of the most common assumptions concerning the Vietnam seniors market.\r\n\r\n\r\n\r\n\r\n

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Myth or Fact #1: The Vietnam seniors market – they expect their children to look after them <\/strong><\/h2>\r\n\r\n\r\n\r\n\r\nChildren are taught to be more attentive towards their parents when seniority kicks in. From doling out pocket money to bringing them food, these ideas reinforce the idea that older people are incapable of self-care. This is simply not the case. In fact, research shows that this group is incredibly active (6 in 10 exercises daily), with the majority still involved in running their small business and making money (8 in 10 still have some income), especially women in this age group.\r\n\r\n\r\n\r\n\r\n

Download Aging Silver Generation of Vietnam now<\/a><\/p>\r\n\r\n\r\n\r\n\r\nFact:<\/strong> 79% of the Vietnam seniors market have an income stream, are financially independent of their children, and do not rely on them for support.\r\n\r\n\r\n\r\n\r\n

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\"Vietnam<\/figure>\r\n<\/div>\r\n\r\n\r\n\r\n

Myth or Fact #2: Savings are common, but are not meant for their offspring<\/strong><\/h2>\r\n\r\n\r\n\r\n\r\nIt\u2019s true that a high proportion of the Vietnam senior market has savings, however, these are generally earmarked as \u2018emergency funds\u2019 rather than future funds for their children. With rising concerns about aging, health and the unknown, Vietnamese seniors prepare for their future with substantial savings.\r\n\r\n\r\n\r\n\r\n