E-commerce promotes economic recovery after the pandemic

The speakers discussed the e-commerce market at the Forum. Photo: T.D

According to the Department of E-commerce and Digital Economy, Ministry of Industry and Trade, Vietnam's e-commerce market is experiencing explosive growth.

The strong increase in the number of new consumers and the increasing demand for shopping on e-commerce platforms has attracted a large number of sellers to participate in this market in 2021. Especially, when business activity was interrupted for nearly four months due to social distancing in provinces and cities, "joining the e-commerce platform" has become a strategic solution for many brands and sellers.

The report of Vietnam's e-commerce market in the first half of 2022, extracted from the Metric.vn data platform of Data Science Joint Stock Company, shows that in the context of Vietnam's e-commerce sector in the post-Covid-19 period. Vietnam is becoming the second largest e-commerce market in Southeast Asia, after Indonesia.

Brands and sellers on Vietnam's e-commerce floors are concentrated mainly in two big cities, Hanoi and Ho Chi Minh City. Sales of international sellers are also growing rapidly after only two big cities in Vietnam because the exchanges have begun to expand with international products.

Speaking at the discussion session with the theme "Signs of global recovery", Mr. Nguyen Tan Vuong, Senior Manager of NielsenIQ Vietnam Co., Ltd., said that the impact of Covid-19 has accelerated the growth of e-commerce and consumers tend to choose healthcare products. It is notable that the trend of multi-channel shopping has experienced remarkable growth, the most among consumers recovering from the pandemic.

From the perspective of an e-commerce platform, Ms. Pham Thi Quynh Trang, Commercial Director of Lazada Vietnam, said that during the pandemic, it is a bridge to accelerate the speed of digital transformation, connecting the broken market. In Vietnam, up to 85% of Vietnamese consumers spend more on online shopping since the outbreak of the pandemic. With that momentum, e-commerce will continue to grow and contribute to economic recovery after the pandemic.

As one of the young, pioneering enterprises in the field of gold, silver and gems in innovation, HanaGold has applied e-commerce in business activities to promote products, brands and combine it with other activities to effectively deliver a unique experience to consumers.

As a result, HanaGold has attracted a lot of customers who are interested. Although sales from e-commerce have not met expectations, there have been signs of growth.

With the potential for digital transformation along with the need to use and invest in gold, Hana Gold quickly seized the opportunity to develop the gold industry in Vietnam in an improved way compared to the traditional one, creating a breakthrough for the gold trading industry in Vietnam and reaching out to internationalization.

HanaGold will explode with development strategies to achieve the goal of 500 agents and collaborators selling online, spreading the brand as well as product quality.

Assessing the opportunities for businesses to export products through e-commerce, Mr. Nguyen Ngoc Dung, Chairman of the Vietnam E-commerce Association, said that many Vietnamese products have been introduced to the world through e-commerce platforms.

Through large international trading platforms such as Amazon or Alibaba, Vietnamese businesses, especially small and medium enterprises, can reach hundreds of millions of customers in many countries.

In addition to major international e-commerce sites, recently, a number of domestic e-commerce sites have also strongly promoted the export of Vietnamese goods, especially agricultural products.

However, the difficulty of exporting through e-commerce is not from technology problems, but the problem of knowledge and procedures for foreign trade activities is also a limitation for many businesses, so many good products are not accessible to international consumers.

Offering experiential products, finding featured products, and producing products that international consumers are interested in are issues being raised for businesses.