Tet, or Lunar New Year, is the most significant moment of the year in Vietnam. But Richard Burrage says that Vietnamese families' experience of Tet is changing, impacting anyone doing business in Vietnam.

In this podcast episode of You Don't Know Vietnam, we speak with Richard Burrage, a consumer insights expert, about how Tet — Vietnam's most culturally and commercially important period — is changing. He explains what this shift reveals about consumer behaviour and household pressure in Vietnam today.

How important is Tet in Vietnam?

Tet is not just a holiday in Vietnam; it is a moment of renewal. It marks the coming of spring and a nationally recognised reset. It is also the most commercially critical period of the year.

“It can be up to 40–45% of annual sales,” says Richard Burrage, Board Advisor at Market Research company Cimigo. “If you get it wrong, like you're short on supply or your special limited edition packaging for Tet was late, you've just ruined your year.” 

Sales, travel, gifts and food expenditure are all compressed into a period of six weeks. This makes Tet both an incredibly important time for businesses and a particularly expensive time for families.

Historically, Tet was more visible and louder. Celebrations were bigger, and spending signalled optimism through gift-giving. This version of Tet still exists in memory but Richard believes 'Tet’s changed forever'.

How is Tet changing in Vietnam?

In recent years, Tet celebrations have become quieter and shorter. Gifting has changed too: people are giving fewer gifts to business contacts, and when they do give, the items are more thoughtful, healthy and meaningful.

This is part of a wider shift. While GDP headlines remain strong, averaging growth of 6–7% during the past five years, households have been under pressure since Covid. Savings were significantly impacted during lockdowns and, according to Richard, shopping basket inflation is up to approximately 10% (despite 3.48% reported by the General Statistics Office), while wage inflation has not kept pace. As a result, consumer sentiment is low and families are spending less.

In summary, Tet is changing in the following ways:

• Celebrations are shorter and quieter, with fewer people
• Gifting is less conspicuous
• Gifts are more healthy, thoughtful and meaningful
• Less alcohol is being consumed

“I’ve just never seen it like that in my 28 years until last year,” says Richard, suggesting that the changes to Tet have been more sudden than gradual.

How have brands responded to a changing Tet?

“So brands actually, I would say, haven't reacted very well and are kind of missing the point,” says Richard. 

Many major campaigns and advertisements continue to rely heavily on optimism and celebration. While these narratives worked when consumer confidence was high, they now feel misaligned with the reality Vietnamese households are facing.

According to YouNet Media’s social listening data, although roughly 132 Tet campaigns were launched in 2025 — a similar volume to the previous year — total social media discussion fell by more than 50% year-on-year. The decline signals a significant drop in engagement and buzz compared with Tet 2024.

Has Tet in Vietnam changed forever?

Richard believes these shifts are structural. This is due to ageing demographics, slower confidence recovery and thinner financial buffers. 

As a result, Tet is unlikely to return to how it is remembered in the past. Obligation remains, and in certain households, it intensifies. Tet has evolved into a stress test.

While Tet still carries immense cultural meaning, the emotional weight behind it has shifted. It now reveals not just renewal, family connection and abundance, but how households are managing expectations, reality and pressure.