HO CHI MINH CITY, Vietnam, Jan. 11, 2021 /PRNewswire/ -- Vietnam is categorized in the group of the world's most attractive retail markets, but along with it is the fierce competition among retailers to lure customers. Recently, retailers have launched a series of green marketing campaigns to win the heart of Vietnamese consumers, according to YouNet Media.
Green marketing tendency is implemented strongly by both local and foreign retailers, an industry expert says green consumption has become a trend that develops well in Vietnam when green environment protection has become a prime concern. Local consumers are more interested in brands with "green value" when choosing a venue for shopping. Thus retailers have opted for green marketing campaigns to approach and attract customers.
As a bustling market with an annual two-digit growth rate over the past five years, most of the big retailers in the region have been present in Vietnam, namely LOTTE Mart etc. Meanwhile, domestic retailers have become stronger and stronger, making the retailers' race to win the market with nearly 100 million people become harsher and harsher.
According to the survey "Green Marketing Effect in the Retail Sector from Social Listening Perspective" announced by YouNet Media, a leading social analytics platforms and services in Vietnam, Green Marketing-centric corporate social responsibility (CSR) activities were carried out by most of retailers in 2020, marking the concern of a large number of consumers on social networks.
The survey shows that over 22,800 debates of consumers made in 2020 have recognized 12 outstanding CSR activities of the top nine leading retailers. The top four retailers of these have made the most successful CSR campaigns, attracting the highest number of interactions from Vietnamese consumers in 2020, including LOTTE Mart.
Also according to this survey, the "LOTTE Love Human" campaign launched by LOTTE Mart with a series of green marketing activities aiming to change Vietnamese consumers' awareness of environmental protection has been discussed the most on social networks.
According to YouNet Media, the implementation of CSR activities with superior strategy than other retailers has helped LOTTE Mart win the confidence of consumers. When referring to the keywords concerning the environment, 64% of the debates have mentioned LOTTE Mart. Over 80% of the discussions have mentioned this retailer with such keywords as "LOTTE Love Human", "L-Care", "Eco green".
The success of the "LOTTE Love Human" campaign has enabled the South Korean retailer to take the lead of two of the three criteria assessing the efficiency of CSR-Green Marketing activities – Brand Love and Brand Image. Thai retailer MM Mega Market led the Brand Awareness criterion.
As remarked by experts, the green consumption tendency will become stronger in Vietnam in the years to come when the fight against environmental pollution and climate change is alarming issues in the country. Therefore, retail brands with "green value" will have an edge in luring Vietnamese consumers.