E-commerce takes advantage of the Covid-19 epidemic

VCN- Over the past three months, the complicated Covid-19 epidemic has greatly affected commodity trade as well as consumer demand, even changing consumer shopping habits. Therefore, Covid-19 is considered to bring opportunities for businesses to take advantage of e-commerce.
Products to join forces with large retailers, e-commerce platforms
Vietnam’s e-commerce market to surpass US$17 bln in 2023
Remove 8,900 stores increasing the price of products for prevention of Covid-9

E-commerce takes advantage of the Covid-19 epidemic
Illustration. Internet source

Opportunity for promotion

At a recent meeting between the Prime Minister and private economic groups, Mr. Nguyen Dang Quang, Chairman of Masan Group, said the disease is also a very good opportunity to promote e-commerce. The group is planning to make more and more people choose to buy products online, sitting at home and still being served without going to the supermarket.

In fact, many businesses have also realized this opportunity to develop e-commerce, offering many utilities in shopping and consumption.

According to Mr. Nguyen Binh Minh, Member of the Executive Board of the Vietnam E-Commerce Association (VECOM), the Covid-19 epidemic is seriously affecting many economic sectors, including the traditional retail sector, but thereis a short-term opportunity for e-commerce. Because of the reluctance to go to the market or to buy goods for fear of infection, many people have chosen to buy essential products and medical items online, so e-commerce activities have been quite exciting.

It is in this context that many e-commerce businesses take advantage of opportunities, offer solutions to shorten delivery time, apply technology to optimize the convenience and safety of the recipient. Stand out as an automatic pick-up service through Lazada Vietnam's smart locker. This can be considered as a "contactless delivery" solution that minimizes the risk of virus infection. In addition, the exchange accelerates delivery through new initiatives, such as a two-hour P2P (Point-to-Point) delivery service with select partners in Ho Chi Minh City and Hanoi. Along with that is a four-hour delivery service, applicable to products less than 15kg, which means buying bulky products that are still received during the day.

Remove difficulties

Mr. Nguyen Binh Minh said that the scale of Vietnam's e-commerce floors is increasing; the value of many exchanges is highly appreciated. If there is some consolidation of some exchanges, it will be possible to form the E-commerce businesses worth more than USD 1 billion. However, in the short term, Vietnamese e-commerce businesses are still developing on social networking platforms and available e-commerce platforms currently popular with online sales forms of individuals, individual business households and small businesses.

Moreover, although it is said that e-commerce in Vietnam is popular, there is a lack of participation of small and medium-sized enterprises, especially in cross-border e-commerce. Across the world, cross-border e-commerce has created trillions of dollars for economic activities in recent years and is continuing to accelerate. But in Vietnam, according to the Vietnam E-Commerce Index, only32 percent of small and medium-sized enterprises in Vietnam have established business relations with foreign partners through online channels.

Talking about the difficulties of enterprises, Ms. Nguyen Thi My Hanh, Chairman of the Board of Directors, General Director of Hai Anh International Fashion Joint Stock Company said that enterprises operating in the field of manufacturing and trading of fashion products should understand the advantages of applying e-commerce in promoting products and brands. But because of insufficient human resources and inexperience in e-commerce, enterprises have only implemented in some domestic e-commerce websites, and are still in the process of learning to operate at commercial websites of international e-commerce.

The above problem shows there are still difficulties, so they must quickly take measures to solve them. Because according to experts, in the context of limited global trade due to the disease, e-commerce can be effective, this is one of the fastest ways for businessestobuild theirown brand, thereby bringing exports to global markets, especially for small and medium enterprises, expanding business but not losing much investment costs. Therefore, if businesses and management agencies change the methods and perceptions to create close cooperation, in order to break down barriers, e-commerce will develop as expected.

By Binh Nam/Bui Diep

Related News

E-commerce tax collection in Hanoi increased by 265%

E-commerce tax collection in Hanoi increased by 265%

VCN - As of August 2024, the Hanoi Tax Department has built a tax management directory for e-commerce business activities including more than 75,000 organizations and individuals. In particular, there are more than 37,000 business households and more than 9,000 individuals.
FED cuts interest rates: A good opportunity for Vietnam’s exports and investments

FED cuts interest rates: A good opportunity for Vietnam’s exports and investments

VCN - The U.S. Federal Reserve (FED) has decided to cut interest rates and announced plans for further reductions until 2026. According to Dr. Can Van Luc, Chief Economist at BIDV and a member of the National Financial and Monetary Policy Advisory Council, the FED's shift in monetary policy has presented a great opportunity for Vietnam's exports and investments.
Unique opportunity for businesses in the supporting industry

Unique opportunity for businesses in the supporting industry

VCN - Vietnam's supporting industry is exposed to a unique opportunity to participate in the supply chain of emerging high-value industries such as the semiconductor industry, aerospace, etc. Customs Magazine had an interview with Ms. Le Nguyen Duy Oanh, Deputy Director of the Center for Supporting Industry Development, Ho Chi Minh City Department of Industry and Trade, about this issue.
Insurance companies adapt to e-commerce trends

Insurance companies adapt to e-commerce trends

VCN - Travel insurance, cargo insurance, shipping insurance… have become popular services in online shopping transactions. Therefore, insurance companies are adapting this trend and expanding their customer data.

Latest News

Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - Although the import and export turnover of goods slowed down in September 2024, in general, import and export activities, especially exports, still grew positively in the first 9 months of 2024. It is expected that import and export of goods in 2024 will reach a record of 800 billion USD.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

VCN - According to the Ministry of Agriculture and Rural Development, Vietnam's capacity to export over 50 billion USD worth of agricultural products annually, coupled with established supply chains, provides a significant advantage for Vietnamese agricultural and aquatic products to penetrate the Halal market.

More News

Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Vietnam and UAE trade sees billion-dollar growth

Vietnam and UAE trade sees billion-dollar growth

VCN - According to General Department of Vietnam Customs by the end of September 2024, bilateral trade between Vietnam and the United Arab Emirates (UAE) reached nearly US$5 billion, an increase of more than US$1.4 billion over the same period last year.
Sharing responsibility for ensuring security and safety of the supply chain

Sharing responsibility for ensuring security and safety of the supply chain

VCN – Post - clearance audit is carried out in a planned, focused and key manner, avoiding widespread and ineffective inspections, thereby creating convenience for the business community and improving the effectiveness of state management of customs.
Many factors affecting tuna exports in the last months of the year

Many factors affecting tuna exports in the last months of the year

VCN - Tensions between Israel and Iran escalate, tuna businesses are worried, they may have to stop export orders to the Israeli market in the last months of the year.
Vietnam still dominates Philippine rice import

Vietnam still dominates Philippine rice import

Vietnam continues to assert its dominance as the top rice exporter to the Philippines, with 2.91 million tonnes shipped as of the late October, or over 79% of the Philippines' total rice imports, according to the Vietnam Trade Office in the Philippines.
Vietnam cements ties with partners to engage in global semiconductor, AI industries

Vietnam cements ties with partners to engage in global semiconductor, AI industries

By boosting cooperation with reputable partners across the globe, Vietnam is taking steps to gain a foothold in the world’s semiconductor and artificial intelligence (AI) industries.
Aquatic exports expected to rise in year-end despite challenges

Aquatic exports expected to rise in year-end despite challenges

Aquatic exports is expected to surge in the remaining months of this year, as the year-end festive season comes, despite many challenges in the international markets, according to insiders.
Trade Defense: The Key to Success for Vietnamese Businesses

Trade Defense: The Key to Success for Vietnamese Businesses

VCN - From losses and near bankruptcy, many domestic enterprises have recovered thanks to timely application of trade defense measures. Trade defense is also an effective shield for Vietnamese enterprises against a series of lawsuits from importing countries, thereby maintaining advantages and developing on "away grounds".
Read More

Your care

Latest Most read
Import and export are expected to reach 800 billion USD

Import and export are expected to reach 800 billion USD

VCN - At the regular Government meeting in September 2024, Minister of Industry and Trade Nguyen Hong Dien assessed: import and export continued to be a bright spot, recording a positive recovery compared to the same period last year.
Fresh coconuts quenching new overseas markets

Fresh coconuts quenching new overseas markets

Vietnam’s fresh coconuts are being increasingly consumed in international markets such as the US, China, and the UK, highlighting a bright spot in Vietnam's fruit export sector with many opportunities for breakthroughs in the near future.
Rice exports likely to set new record in 2024

Rice exports likely to set new record in 2024

Vietnam sold 800,000 tonnes of rice overseas for 505 million USD in October, bringing the country's total export volume and value in the first ten months to nearly 7.8 million tonnes and 4.86 billion USD, up 10.2% and 23.4% year-on-year, respectively.
Vietnamese goods conquer halal market through trust and quality

Vietnamese goods conquer halal market through trust and quality

According to the Ministry of Agriculture and Rural Development, Vietnamese agricultural and aquatic products could penetrate the Halal market.
Exporters urged to have strategies to take advantage of UKVFTA for expansion

Exporters urged to have strategies to take advantage of UKVFTA for expansion

The UK is concerned by sustainable development, labour issues, environmental protection and social responsibility. Therefore, when exporting to the UK, enterprises should not just be concerned about being competitive in terms of price and quality.
Mobile Version