Vietnam’s digital landscape continued its rapid transformation in Q4 2024, Decision Lab’s latest Connected Consumer report for Q4 2024 highlights key trends in platform preferences, a heated live commerce battle, and a shift in bank-owned financial apps.
TikTok & Threads challenge social media rankings
While familiar platforms like Facebook, Zalo, and YouTube have maintained their positions, TikTok's steady growth across all generations and Threads' surging popularity, particularly among Gen Z, are disrupting the established order. If this continues, TikTok and Threads could become major competitors for the current social media leaders
Download the full Connected Consumer Q4 2024 report.
Furthermore, a generational divide in content consumption has become increasingly apparent. While Facebook remains dominant among younger users and Zalo continues to lead among older demographics, video-based platforms like TikTok have cemented themselves as essential to Gen Z’s daily routines. Notably, YouTube has strengthened its position as Gen Z’s second most important app, further demonstrating the shift toward video-centric content consumption.
Mr. Thue Quist Thomasen, CEO of Decision Lab, advises brands to:
“Expand their platform strategies beyond Facebook and YouTube. TikTok and Threads are increasingly influential, especially among younger consumers. Brands that proactively build a presence on these platforms will be better positioned to engage future audiences.”
Facebook rebounds in live commerce
After TikTok’s strong momentum in live commerce last quarter, Facebook has bounced back with the launch of its new Live Shopping feature. This has fuelled a renewed interest in Facebook’s livestreaming commerce, particularly among Gen Z users. The competition between these two platforms indicates that Vietnam’s live commerce market is moving past its experimental phase and becoming a critical channel for online shopping.
Download the full Connected Consumer Q4 2024 report.
Mr. Thue Quist Thomasen, CEO of Decision Lab, commented:
“Live commerce is no longer just a trend - it’s a critical sales channel. While TikTok is strong, Facebook’s resurgence means brands should optimize for both platforms to maximize their reach. High-quality, interactive live content will be key to driving conversions.”
Bank-owned apps gain traction while digital finance growth stalls
Vietnamese consumers are increasingly gravitating toward bank-owned digital finance apps, driving a strong upward trend across all generations. This shift contrasts with the performance of digital finance platforms like MoMo, ZaloPay, and Viettel Money, which have shown signs of stagnation. The preference for traditional banking apps highlights the growing demand for secure and integrated financial services.
Download the full Connected Consumer Q4 2024 report.
Mr. Thue Quist Thomasen, CEO of Decision Lab, explained:
“Consumers are shifting their expectations, causing digital finance platforms to stagnate. Digital finance apps once dominated the digital banking space, but traditional banks have responded by integrating digital-first services and closing the gap between digital-oriented banks and established financial institutions. For brands in the financial sector, this shift creates a more competitive landscape where trust, security, and seamless digital experiences will set leaders apart.”