Analysis of the Material, Spiritual Needs of the Elderly and Attractive Market Opportunities in Vietnam

Vietnam’s rapidly aging population poses significant challenges to the country’s socio-economic development. Despite having relatively strong purchasing power, the elderly in Vietnam are not yet adequately served by social welfare, infrastructure, and products and services targeted to their needs. This chapter explores the material and spiritual needs of the elderly in Vietnam and identifies attractive market opportunities for businesses that can effectively address these unmet needs. Drawing on initial studies on the needs of older adults, we propose solutions to serve these needs in three broad categories: health and medical products/services, specialized food and beverages for the elderly, and social interaction and recreation activities. Our approach is informed by an information systems perspective, and we offer three practical recommendations to meet these unmet needs. Our research provides insights into the unique thinking, lifestyles, and shopping behaviors of today’s seniors in Vietnam and underscores the importance of timely and effective adaptation measures to the problem of population aging.