An Empirical Study on the Impacts of Cultural Factors on The Demand for Fast-Moving Consumer Goods

Over the past 25 years, the economy in general and the Fast Moving Consumer Goods (FMCG) market in particular in Vietnam have been fiercely competitive.Every year, our country has many businesses and companies established and many of them have to close and go bankrupt.One of the reasons to explain the failure is that the business cannot determine the demand of the industry in which it operates.Determining demand is difficult, determining factors affecting demand is even more difficult.Consumer demand is not only influenced by factors of consumer income; but also influenced by cultural factors such as religion, belief, age, gender, work, living area and many more.Vietnam, a country with a thousand years of civilization.Therefore, considering the influence of cultural factors on Vietnamese consumer demand for the fast-moving consumer goods industry is extremely necessary.Therefore, an in-depth study using mathematical models to clearly quantify the influence of cultural factors on consumer demand for the FMCG industry will have reference value for businesses, as well as policy makers.This article conducts research to determine the influence of cultural factors on consumer demand for fast-moving consumer goods in Vietnam; as well as compare the differences in consumer demand when they are culturally different.The study conducted expert interviews and quantitative calculations with a sample size of n = 1221 samples from Vietnamese citizens aged 20 years and older.Collected data are processed using SPSS 20 and SmartPLS 4.0 software to test the suitability of research hypotheses and models.The results show that the influence of culture on consumer demand exists.Future research should explore more different professions at home and abroad.