Tết is on the way!

The Tết holiday, celebrated by millions of Vietnamese people, marks the lunar new year. It is deeply rooted in the cultural and spiritual traditions of the country. Tết is more than just a holiday. It represents a time of renewal, family gatherings, and the welcoming of new beginnings. Falling at the end of January or the beginning of February, Vietnamese people celebrate Tết with various customs. From preparing special foods to decorating homes with peach or apricot blossoms. It is a time to honor ancestors and express wishes for prosperity and happiness in the coming year. Over time, the celebration of Tết has evolved. Particularly in terms of consumer behavior and the ways people prepare for the holiday.

The importance of Tết in Vietnamese culture

Tết is the most significant holiday for Vietnamese people. It is the time when families reunite, even if it means traveling long distances. Many people working in far-off regions plan their trip home months before to ensure they can spend time with their loved ones during this crucial period. The holiday is deeply associated with family ties, the honoring of ancestors, and hopes for a prosperous new year. The preparations for Tết begin long before the actual holiday. Families clean and decorate their homes, purchase new clothes, and prepare traditional foods. They also buy flowers or trees that symbolize good luck. The peach blossom (North) and the apricot blossom (South) are particularly significant, symbolizing prosperity, peace, and good fortune. These flowers are highly valued, and gardeners spend the entire year cultivating them. In order to ensure that they bloom just in time for the holiday.

Changing consumer behaviors

In recent years, consumer behaviors during Tết have experienced a transformation. This is largely due to technological advancements and the rise of e-commerce. Traditionally, Vietnamese people flocked to the markets to buy food, clothes, and gifts in preparation for Tết. The market scenes during Tết are always bustling, with people purchasing everything from new clothes to food items like “bánh chưng” (square sticky rice cake) and fruits for ancestor offerings. People are willing to spend large amounts of money to ensure that they start the year with a fresh and positive outlook, believing that a good start will lead to good fortune throughout the year.

However, as the world has become more digital, online shopping has become an increasingly popular way for consumers to prepare for Tết. E-commerce platforms such as Shopee, Lazada, and Tiki have seen a massive surge in sales during the Tết season. Consumers can easily buy traditional foods, new clothes, decorations, and gifts from the comfort of their homes. The convenience of online shopping, coupled with attractive discounts and promotions, has made it the preferred option for many people. This shift is particularly notable in urban areas, where busy work schedules make it difficult for people to shop in traditional markets.

In addition to traditional items, consumers are also more likely to purchase high-tech gadgets, beauty products, and luxury goods as gifts for their loved ones. The growing affluence of the Vietnamese middle class has led to an increase in demand for premium goods, and many people choose to shop for high-end items during Tết to demonstrate their success and generosity.

Impact of e-commerce on Tết shopping

The rise of e-commerce has reshaped not only consumer behavior but also the strategies that businesses use to approach Tết shoppers. As more people turn to online platforms for their shopping needs, businesses have had to adapt by offering targeted promotions and improving their digital presence. Online stores are now advertising heavily in the lead-up to Tết, offering time-sensitive deals, flash sales, and special bundles that cater to the Tết market.

One of the key benefits of online shopping is the convenience it offers. People can shop anytime and anywhere, without the hassle of going to crowded physical stores. This is particularly appealing during Tết when people are busy with family preparations. They may not have time to spend hours in shopping malls or markets. Additionally, many e-commerce platforms offer free delivery services, further enhancing the convenience of online shopping.

Another notable trend is the growing importance of mobile commerce. With the increasing use of smartphones, mobile shopping apps have become a key platform for Tết shoppers. Many people now use their phones to browse products, compare prices, and make purchases. This trend has pushed businesses to optimize their websites and apps for mobile devices, ensuring that their customers have a seamless shopping experience.

Sustainability and changing consumer preferences

In addition to the rise of online shopping, another important shift in consumer behavior during Tết is the growing demand for sustainable products. As Vietnamese consumers become more aware of environmental issues, there has been a noticeable increase in the popularity of eco-friendly products, such as reusable shopping bags, organic foods, and sustainably sourced gifts. This trend is especially prominent among younger generations, who are more conscious of their environmental impact and prefer to support brands that align with their values.

For businesses, this shift has required a change in product offerings and marketing strategies. Companies that embrace sustainability have found success by catering to the increasing demand for green products. For Vietnamese practice, this means for example that many traditional Tết foods now come in eco-friendly packaging. And that floral arrangements for Tết are increasingly made from organic or locally sourced flowers. This shift toward sustainability reflects a broader global trend. It signifies a change in how consumers around the world view the intersection of culture, tradition, and the environment. This trend is powered by international policies such as the OECD Guidelines for Responsible Business Conduct and the UN Sustainable Development Goals.

Conclusion: the future of Tết consumption

As Vietnam continues to modernize, the way people celebrate Tết is also evolving. While traditional customs and family values remain at the heart of the holiday, consumer behaviors are increasingly influenced by technology, convenience, and sustainability. Online shopping has become a dominant force, allowing consumers to shop from the comfort of their homes and enjoy exclusive deals. At the same time, there is a growing demand for sustainable products that reflect changing attitudes toward environmental responsibility.

For businesses, the key to success during Tết will be to adapt to these new trends and offer products and services that meet the needs and preferences of modern consumers. The future of Tết consumption will likely see further integration of digital technologies. With an increasing focus on convenience, personalization, and sustainability. As these trends continue to shape the Tết holiday, one thing remains certain: the spirit of renewal, joy, and togetherness will continue to define this cherished celebration for generations to come.

VNHL wishes you a Happy Lunar New Year !!

VNHL is, together with the rest of Vietnam, preparing for Tết. We enjoy the festive atmosphere, which is taking over the air, and we look back at the past year with gratefulness. Our consulting, networking, supporting services are focused on helping others who are looking to invest, do business, or live in Vietnam. But at the same time we realize that we also receive a lot back from them. Meeting new people from around the world, listening to their stories and plans, and joining them for at least a part of their journey in Vietnam. This open our eyes and our minds. We are thankful for a delightful year that is about to end, and we look forward to an exciting new year to come. We wish all of our beloved clients, partners and friends a new year full of health, joy, and happiness.

*Dear reader, even though our VNHL Consulting team always tries its very best to provide its Clients with correct and complete info: we are not a Vietnamese law firm. The information in this post is therefore not meant to, and should also not be construed to, constitute legal advice. For specialized advice in the fields of law, accounting, tax, etcetera: we always recommend our Clients to speak with qualified specialists in those fields. We have several such specialists in our nationwide network, and we are always happy to introduce our Clients to them, when appreciated.