TET 2024: Market Insights and Consumer BehaviorPUBLISH DATE: 22 September 2023
Tet 2024, the Lunar New Year in Vietnam, is not just a celebration – it’s a vibrant explosion of culture and tradition that paints the country in hues of hope, renewal, and good fortune.
Imagine the excitement of spring’s arrival, the anticipation of a fresh start on the lunar calendar, and the universal embrace of good luck. Tet is all of this and more.
You must be wondering, why all this talk about Tet.
Well, understanding Tet and diving into the deep well of its cultural customs and rituals is the golden key for advertisers. It’s the secret sauce to connect with Vietnamese consumers during this grand season of celebration.
Why is TET 2024 a Big Opportunity for Advertisers?
The Tet celebrations in Vietnam are a big deal, not just culturally but also for businesses. Before Tet, people spent twice as much as usual. They do this to give family and business associates gifts and enjoy time with loved ones.
For many companies, whether they do well or not during Tet can make or break their entire year. According to a report by Cimigo, brands that make spirits see up to 60% of their yearly sales in the six weeks leading up to Tet.
Beer sales go up by 30%, and things like soft drinks, biscuits, and candy also sell a lot more. People also use this time to refresh their homes and themselves, so sales in personal care, fashion, home appliances, and building materials go up.
Most people shop for Tet at supermarkets and wet markets, but personal care products sell well online.
In Tet 2023, Vietnamese people are feeling positive and plan to spend more on travel and shopping, especially for things like mobile phones, motorbikes, and appliances.
Consumer Trends During TET 2024
- The typical Vietnamese shopper plans to spend approximately $100 during the Tet period.
- Fast-moving consumer goods (FMCG) will make up the majority, accounting for 60% of online sales.
- Among product categories, beverages are expected to be the top choice, with a growth rate of 20%.
- Half of the shoppers are looking for personalized and tailored shopping experiences.
- A significant 80% of shoppers intend to utilize social media platforms for product research.
- Around 20% of shoppers are interested in live-streaming shopping to engage in real-time interactions while making their purchases.
How Should Brands Reach the Vietnamese Audiences During TET 2024?
Mirrors and Parallels, the two AI-powered brand-suitable solutions of Silverpush can help brands and agencies reach their Vietnamese audiences contextually this Chinese New Year. Let’s see how:
Real-Time Ad Sync
Leverage the festive season of the Chinese New Year to capitalize on cross-screen behavior through real-time syncing of TV ads with digital ads on social media platforms with geo and demographic targeting. Our technology identifies real-time Tet-related triggers on TV to synchronize your brand ads.
Stay ahead of the competition by targeting your competitor’s screen time.
Enhance ad recall by syncing your TV and digital ads.
Outsmart competitors by triggering your digital ads alongside competitor’s TV ads
Activate mobile ads when consumers are in proximity to stores or marketplaces.
Mirrors serves contextual ads by detecting faces, logos, objects, places, actions, and on-screen text (in 500+ Chinese New Year contexts) to capture your audience’s attention across multiple platforms and increase brand awareness during this opportune time.
Mirrors can identify key moments on YouTube, such as shopping, traditional recipes, TET preparation, and home decor, to strategically place your ads when users are most engaged and in a completely brand-safe environment.
On Meta, Mirrors can identify Tet-related content across popular pages and contexts, ensuring your ads reach audiences when they’re most likely to engage.
Mirrors can craft tailored contextual segments for the Tet festival, allowing advertisers to target audiences based on Tet-related search intent
To boost Tet campaign viewability, advertisers can utilize Crafters‘ interactive Tet elements from the curated gallery or create custom interactive ads.
In a nutshell, Tet is a vibrant season of celebration and spending in Vietnam, making it a prime opportunity for brands to engage with consumers and boost their sales. By embracing innovative advertising technologies like Mirrors and Parallels and understanding the cultural significance of Tet, advertisers can make the most of this festive occasion and ensure a prosperous start to the Lunar New Year.
FAQs on ParallelsPUBLISH DATE: 07 October 2022
What is Parallels?
Around 80% of the audience use mobile phones alongside watching TV during commercial breaks. Parallels, a real-time moment marketing platform displays ads parallelly on second-screen devices to recapture viewers’ attention. The ads displayed are aligned with the user’s interests and thus providing a better ad recall and improved purchase intent.
Which are the Platforms & Devices on Which Parallels Work?
Parallels works on CTV, mobile devices, laptops, and desktops. Also, it operates on social, display, and video across various screens.
What are the Different Ad Triggers on Which Parallels Operates?
1. Sports Sync
Parallels engages sports fans by automatically activating sports ads based on real-time sporting events, running contextual creatives, and synchronizing digital ad placement during TV commercials.
By synchronizing real-time weather notifications with brands’ commercials, Parallels delivers brand messaging to the audience at the correct time. With weather API triggers such as temperature, wind speed, humidity, pollen, cold, and flu data, you may experience incremental outreach in multiple nations, states, and localities.
Air pollution has been a source of concern worldwide. As a result, the Air Quality Index (AQI) is an important trigger for brands of air purifiers, breathing masks, health supplements, and associated health equipment, among others.
4. Current Trends
Trending events such as new economic policies or fashion week are discovered and used to activate adverts in real-time using Parallel’s NLP and AI-driven context detection technology.
Why Should Brands Choose Parallels?
Parallels helps brands strengthen their image by running integrated campaigns across multiple platforms. Some of the many reasons why brands should choose Parallels are:
1. Capitalizes on multi and cross-screen usage by syncing digital ads with TVCs to garner the audience’s attention.
2. Capture correct moments for the relevant users automatically.
3. Build stronger bonds between brands and audiences with real-time TV ad sync.
4. Deliver contextual messages and digital creatives for various live moments.
5. AI-Powered Technology does the job and leaves behind manual targeting of lists.
How to Reach Us?
To learn more about Silverpush and its offerings, please click here.
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Early Holiday Shopping Trends for 2022 Festive SeasonPUBLISH DATE: 09 September 2022
It’s a timeless truth. Brands face some fierce competition in every holiday season to drive consumer attention and increase their sales. To make your brand stand apart during holiday shopping and the mega sales days, they need to invest in the right combination of planning, strategy, personalization and technology.
During and after Covid, our lives have changed a lot. One that seen shifts in how we work, how we connect, or how we shop. And every changes comes with its challenges. While technology is emerging that seeks to support businesses in the face of transformation.
Though so much is changing around us, but there are some habits which are constant. Humans need and holiday shopping habit are still the same. Modern technology has adapted to deliver on timeless human needs in new ways.
Companies have managed to meet these expectation during key shopping moments through the advanced technology methods.
Four Phases to Make your Business’s Best 2022 Holiday Season Year
To help your brand navigate the 2022 holiday shopping season, here are the early retail trends and consumer behaviors you need to take a look at:
- Establish a solid campaign foundation: Build up a strong data, creative, media and measurement growth well ahead of your sales event.
- Reach customers early: Take advantage of cost-efficient impressions early to reach shoppers early this holiday season. Be on the top of mind with shoppers.
- Maximize purchases: Build a momentum for your brand and maximize purchases when purchasing is at its peak.
- Be on their mind: Stay on top of mind and drive loyalty with your newly acquired customers.
Holiday Shopping Starts Much Earlier
With the rise of ecommerce, the number of online shoppers worldwide is also increasing with it. In 2021, the number of digital buyers is at 2.14 billion. This means that 27.6 percent of 7.74 billion people in the world were shopping online.
More than one out of every four people does online shopping.
Moving money via the internet is no longer reserved for traders and investors. Anyone and everyone who has access to it is now able to send money online.
People are exploring and cataloging ideas for their holiday shopping much earlier than you are expecting. It is surprising to know that not weeks, but months before the craze for holiday season begins. This revelation is essential for every business – understand if people are planning their shopping earlier, you need to plan your marketing much earlier to keep up with the pace of your customers. Don’t wait for the season to just begin or your promotions will be left in the dust.
Reach Your Most Enthusiastic Customers
Connect with the household CEOs – a broader audience that purchases and spends the most. Get in touch with them first and you have higher chance to be their first choice for shopping.
Who Spends the Most Online?
|Rank||Country||Ecommerce Spend Per Capita|
When you connect with the early planners, you connect with the household CEOs – a larger audience that purchases and spends more. Get in touch with them first and you have the chance to be their first choice for shopping.
Who is Spending the Most?
Younger shoppers are more likely to increase their shopping budget than their older counterparts, but will spend the lowest proportion (63%) online.
Even though marketers and businesses have prioritized these planner-type shoppers, however they often make assumptions about the timings of their promotions.
Realize that customers will not wait around – in fact, they have started earlier than ever. 46% of consumers surveyed by the National Retail Federation already started their shopping earlier than ever. In the early November survey, 61% consumers said that they already started shopping for the holiday. Shockingly, more than one-quarter completes their total holiday shopping by early November.
What Changed the Consumers Behavior?
Some may start their shopping earlier in the year to help budget their purchases instead of spending a big sum all at once. This is a continuing trend since the 2021 holiday season, when consumers start their holiday shopping earlier than ever due to growing supply chain and issues during shopping. The shopping concerns are compounding due to growing interest rates and overall inflation.
There are other emotional reasons too as to why shoppers are starting earlier than anticipated. People nowadays crave the comfort of the holidays after a tough year. What was once more like a chore, now feels special – meeting family members, having good food, the excitement of opening and exchanging gifts – all these have taken a new meaning. Consumers now look forward to holiday season more than ever, and that’s what motivates them to buy earlier.
Silverpush’s AI Technology Capabilities puts You Where Your Audience Is
Finally a platform that understands how content is consumed today and how advertisers can reach them. A platform that understands as people move across screens, advertisers need to adapt instantly.
World’s leading digital marketing solution provider. Silverpush’s advanced AI technology makes it easy to find your audience—no matter where they are, no matter what they’re watching. The company is built on three fundamental pillars – contextual advertising across different platforms, brand safety, and value of consumers privacy.
Introducing Mirrors – Future of Digital Advertising
BRANDS MATTER TO YOUR CONSUMERS.
Keep this in mind when moving forward with your holiday marketing.
Traditional advertising campaigns on YouTube and Social Media pose the biggest challenge for the brand:
- Serves ads to anyone it identifies as looking for remotely similar to your brand or product, regardless of whether the ad would be appealing to the audience at the moment they are viewing it leading to ad wastage.
- Brand Safety and suitability issues which result in low VTRs, hence the low consumer engagement with the brand.
Mirrors by Silverpush is a one-stop solutions for these. It is world’s in-video context detection technology. Our advanced AI technology helps you to grab people’s attention by reaching them at the right moment, without the use of personal data.
Mirrors scan through in-video contexts such as faces, logos, objects, actions, and places ads in a brand suitable environment where users are most likely to engage. Our deep machine learning technology intelligently detects unsafe content and avoids placing ad on such.
Give us a call and reach the enthusiastic customers this holiday season.
Parallels – Conquer Competition through TV Sync Technology
Parallels – TV sync technology by Silverpush, conveys your brand message to the TV audience at the right time and garner their attention. Parallels – real time ad tracking technology reach TV distracted audiences in real time. Digital campaigns are triggered after a TV ad of competition brands and self is detected live on TV.
The advanced AI technology syncs social, display and video ads to real-life moments, enabling an enhanced connection with consumers around live events, as they happen.
Brands can also maximize brand exposure through real-time sporting events. Our human augment AI technology solution automatically triggers digital ads based on live moments, runs contextual creatives, and syncs digital ad placement during TV commercials.
Want to know more about our products, we are just a call away!