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Omnichannel shopping will still dominate the retail market and businesses need to continue improving their competitiveness to optimize the shopping process. E-commerce is still growing strongly, contributing to post-pandemic economic recovery, local experts said. Local consumers shop more on e-commerce floors in Vietnam. Photo: PVcomBank The market still has a lot of room for development with 71% of Vietnam’s internet users having made at least one online purchase. More than 90% of Vietnamese users will continue to use digital services, and 81% believe online shopping will become an indispensable part of daily life. Some local experts said that it is undeniable that the strong investment foundation during the pandemic has created momentum for businesses to develop e-commerce. At the same time, the field of digital transformation and online business accounted for a more important proportion of the management and operation of Vietnamese enterprises. Speaking … [Read more...] about Vietnam’s e-commerce: driver for economic recovery in post-Covid-19

OCOP products made by the Tài Thịnh Phát FARM Co-operative in Cà Mau Province come with good packaging and labelling. — VNA/VNS Photo Huỳnh Anh CÀ MAU — The national 'One Commune – One Product' (OCOP) programme has helped improve the value of Cà Mau Province’s agricultural products and promote its speciality products. The southernmost province enjoys advantages in agriculture, forestry and aquaculture, which enable it to offer various products and services designated as OCOP. They include food, beverages, handicrafts, and rural tourism services. The province recognised 44 more OCOP products last year, taking its total to 77 ranking from three or four star level under a five-star system. The ones recognised last year include Ngọc Trân and Mạch Long fish sauce, Từ Tâm biological rice, Minh Duy fermented bulrush, Minh Quân dried soft banana, Ba Đức dried gourami fish, Năm Căn shrimp cracker, and Ngọc Hiển mangrove chopsticks. The province ranks fourth out of the delta’s 12 … [Read more...] about Cà Mau Province focused on One Commune – One Product

Thao Nguyen - Senior investment manager Ascend Vietnam Ventures Social commerce, a subset of e-commerce that refers to the process of buying and selling goods or services directly within social media platforms, is not new. In Vietnam, long before traditional e-commerce established a foothold with tech-savvy consumers, such activities largely took place on major social media platforms. Serving both big-city shoppers and the majority of the population who live outside of core urban centres, social commerce made up about 65 per cent of Vietnam’s $22 billion e-commerce in 2020, presenting the highest rate in Southeast Asia, according to Bain & Co. Within the last two years, we have been seeing a new wave of startups emerging in this sector and beginning to harness the untapped potential of Vietnam’s social commerce playing field. Some of those have attracted almost $14 million in funding in Q1 this year. Compared to the regional rate of 44 per cent, Vietnam’s social commerce … [Read more...] about Vietnam poised for the next level of social commerce via innovative startups

Two customers do online shopping on an e-commerce platform. — Photo vneconomy.vn Smuggled, counterfeit and low-quality products have begun to spread rapidly on e-commerce platforms as the absence of physical product touch in online shopping puts buyers at a disadvantage. Nguyen Duc Le, deputy director of the Professional Affairs Department under the Ministry of Industry and Trade (MoIT), admitted that deceptive trade practices have been rising steadily in recent years. “Bad vendors use genuine products for advertisements but deliver low-quality or second-hand products to buyers, depriving them of the warranty rights,” he said. Le Mai Huong, an enthusiastic online shopper in Ha Noi, shared her bad experience when shopping online with Viet Nam News. “In my experience, shoppers should not buy online stuff sold at prices far lower than market prices, notably cosmetics and drugs, as they are almost fake products. In addition, for clothes and consumer goods, many times I … [Read more...] about Bad vendors put e-commerce at risk