Vietnam’s cashback spending to reach $4.07 billion by 2029.
The report identifies that cashback spending is expected to experience significant growth in Vietnam, with a projected surge of 16.6 per cent annually.
The medium- to long-term outlook for cashback spending in the country remains robust, with adoption anticipated to increase steadily until 2029.
Cashback programmes in Vietnam are reshaping consumer behaviour and driving growth across various sectors. The trends indicate a shift towards digital payments and personalisation, compelling companies to adapt their strategies to meet evolving consumer expectations. Recent launches demonstrate a competitive landscape where innovation is key to attracting and retaining customers.
Prudential Vietnam has introduced the Pulse loyalty initiative, rewarding customers for engaging in healthy activities monitored through the Pulse app. Users can earn points by completing health challenges, which can be redeemed for discounts on insurance premiums or wellness products.
Meanwhile, VinID has expanded its cashback offerings across various retail sectors, allowing customers to earn rewards on groceries, dining, and online shopping. This initiative aims to attract a broader customer base while enhancing user engagement.
In addition, many cashback platforms are forming alliances with retailers to enhance their offerings. Partnerships between platforms like MoMo and local supermarkets allow consumers to earn exclusive cashback deals that drive traffic to partner stores.
Source: VIR
