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Google Search For Digital Wallets in Vietnam Increased by 100% in 2021

  • The number of searches for online purchases increased by more than 42 percent.
  • Users are taking advantage of the benefits of technology and apps.

According to Google’s 2021 Year in Search: Vietnam’s Search for Tomorrow report, Vietnamese are opting for a digital-first lifestyle to take advantage of the speed, convenience, and low pricing offered by the online world, from shopping to services.

The research uses anonymized search data to determine the most significant consumer trends that will be useful in guiding organizations’ marketing strategies in the future.

Online Shopping on the Rise

Google Search has become a vital tool when it comes to people’s everyday activities during the epidemic. The overall number of queries increased by 37 percent in 2021 compared to the year before the pandemic. The number of searches for online purchases increased by more than 42 percent, which coincided with an increase in searches for online shopping at large food shops.

Furthermore, users are taking advantage of the benefits of technology and apps in their daily lives, with search interest in online banking and applying for credit cards online increasing by more than 58 percent and 76 percent, respectively, and interest in reviews increasing by 1,250 percent as people conduct online research before purchasing a product or service.

Searches for digital wallets and e-wallets grew by a factor of one hundred percent. The increase in the number of people driven online by the epidemic meant that businesses were forced to adapt and digitize at a size and speed that they had not anticipated or prepared for.

Eight out of ten merchants anticipate that more than half of their purchases will be conducted online within five years. As a result, many are becoming more technologically savvy, with 81 percent of merchants planning to boost their usage of digital payments in the next one to two years.

   

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