WHAT HAPPENED
According to HSBC, affluent residents of Vietnam are shifting from simple wealth accumulation to more sophisticated strategies for wealth preservation, management, and transfer. This marks a significant evolution in the financial priorities of the elite segment, which was previously focused primarily on active wealth generation. Now the focus is shifting towards long-term planning and sustainable development.
This shift, noted by Ranganathan Ananth, Head of International Wealth Management and Premier Banking at HSBC Vietnam, indicates the maturity of the Vietnamese market and the emergence of a generation that has already achieved significant financial success and now seeks to consolidate and protect it. This suggests that primary needs for acquiring basic goods have been met, and affluent Vietnamese are looking for new ways to improve their quality of life and secure the future of their families.
WHAT IT MEANS
The change in priorities of affluent Vietnamese opens up significant prospects for Russian entrepreneurs in e-commerce, especially in the premium services and specialized goods segments. While the market was previously oriented towards conspicuous consumption and quick purchases, there is now an increasing demand for products and services related to quality, durability, health, education, and eco-friendliness. Russian brands, well-established in niches of high-quality, often exclusive goods, can successfully occupy this niche.
The Vietnamese elite is now looking not just for luxury items, but investments in their lifestyle: upscale real estate (possibly abroad, when it comes to asset diversification), high-quality education for children (including online programs and tutoring from leading Russian specialists), advanced medical services (for example, telemedicine with specialists from Russia or specialized consultations), as well as health and longevity products. Russian manufacturers of organic products, specialized dietary supplements, exclusive cosmetics, or medical equipment can find their audience here.
In addition, there is an increasing demand for asset management services, legal support for international transactions, and financial planning. While direct e-commerce is less applicable here, it opens up opportunities for creating online platforms that connect Vietnamese clients with Russian experts. Art investments, collecting, and other intangible assets also become promising segments, where Russian galleries, auction houses, and experts in cultural values can offer their services through online channels.
VIETSMART EXPERT COMMENTARY
As a Russian entrepreneur, I would now be carefully studying not only the market for finished goods but also the segment of high value-added services. The shift from wealth creation to wealth preservation means that Vietnamese consumers are willing to pay for security, reliability, and expertise. This is an ideal moment to scale highly qualified services from Russia to the Vietnamese market through digital channels.
CONCLUSIONS AND WHAT TO DO
- Focus on long-term value: Reorient marketing strategies to benefits related to preservation, security, longevity, and future investments. Emphasize quality over instant consumption.
- Development of premium service segments: Consider offering online consultations, specialized educational programs, telemedicine services, or expert support in investments, targeting an affluent audience.
- Search for high-quality niche products: Explore the market for exclusive Russian goods, such as organic food products, high-quality cosmetics with natural ingredients, unique art or design items that can be perceived as investments in quality of life.
- Partnership with local players: For successful entry into the Vietnamese market, localization and understanding of cultural characteristics are crucial. Cooperation with local distributors, logistics operators, or consultants will help overcome barriers and establish trust with the target audience.
- Use digital channels with a focus on reputation: Create strong online platforms, paying special attention to reputation, reviews, and expert content. Affluent clients value reliable information and proven expertise.
Source: VnExpress International — Business from August 18, 2026