E-commerce paving the way for businesses in new normal

DNHN - Vietnam is gradually shifting to a digital economy in which cross-border trading is becoming the core factor, an official from the Ministry of Planning and Investment (MPI) told a webinar on e-commerce held on March 22.

Vietnam is gradually shifting to a digital economy in which cross-border trading is becoming the core factor, an official from the Ministry of Planning and Investment (MPI) told a webinar on e-commerce held on March 22.

Nguyen Duc Trung, Deputy Director of the MPI’s Enterprise Development Agency, said e-commerce increased 18 percent in 2020, making Vietnam the only Southeast Asian nation to record a double-digit growth rate in this regard.

Le Thi Ha, head of the policy division at the Vietnam E-Commerce and Digital Economy Agency under the Ministry of Industry and Trade, held that despite numerous challenges caused by the COVID-19 pandemic, enterprises that apply digital transformation still have their own opportunities.

She cited a survey conducted from January 2018 to September 2021 in 47 countries as showing that the rate of online spending in total global spending rose sharply, especially during the pandemic’s peak, by 14.9 percent, compared to 10.3 percent in 2019, before the pandemic broke out.

Vu Thi Thu, Chief Commercial Officer for the Hanoi region of e-commerce platform Tiki, recommended that instead of hesitating, enterprises should operate on multiple e-commerce platforms and optimise each platform’s advantages.

The firms newly present on those platforms should grasp thorough understanding of their rivals, analyse the market, develop long-term strategies, and then devise marketing plans and pay attention to customer service, she noted, adding that the platforms also need to assist businesses to gain a foothold and develop.

Presenting conditions and skills for engaging in cross-border e-commerce, Trinh Khac Toan, Director for the northern region of Amazon Global Selling Vietnam, recommended firms have specialised personnel and strategies while understanding regulations in their target markets, especially international ones.

Compared to 2020, the numbers of Vietnam’s small- and medium-sized enterprises (SMEs) with revenue of 100,000 USD and 500,000 USD on Amazon last year increased 18 percent and 53 percent, respectively. The number of products sold by Vietnamese SMEs grew 34 percent.

Acording to en.vietnamplus.vn