Businesses gradually adapt to online business trends

Opportunity to access online business trends

On the morning of November 30, the Vietnam E-commerce Association (VECOM) organized an online marketing forum in Hanoi with the theme "Vietnam online marketing forum - VOBF".

Speaking at the forum, Mr. Nguyen Ngoc Dung, Chairman of the Vietnam E-commerce Association, informed that implementing the National Program on Trade Promotion in 2023, aiming to connect trade between suppliers with export enterprises and trade promotion organizations, the VOBF 2023 forum aims to help manufacturing and exporting enterprises access online business trends in general and the field of online export, and participate in interacting and connecting with leading enterprises in providing online business solutions, trade promotion and online export.

Mr. Nguyen Ngoc Dung, Chairman of Vietnam E-commerce Association delivered the opening speech.

VOBF 2023 also helps agencies, organizations and businesses discuss market potential, outstanding solution and technology trends, newly issued or soon-to-be-amended policies and regulations, advantages and difficulties in coordinating and linking businesses. Thereby, promoting trade promotion activities and online export orientation.

"In addition to the general difficulties of the world economy, along with many unfavorable domestic factors, the development of Vietnam's economy and trade has been negatively affected, especially in the last months of 2022 and extending into 2023. However, VECOM estimates that Vietnam's e-commerce will still maintain a growth rate of over 25% and reach a scale of over 20 billion USD," said Mr. Nguyen Ngoc Dung.

VOBF 2023 Forum aims to help businesses connect with leading businesses in providing online business solutions, trade promotion and online export.

Specifically, the Chairman of the Vietnam E-commerce Association pointed out that the most important mark of e-commerce is that the number of new online consumers continues to increase in both quantity and quality. Consumers buy more, the value of purchases is increasingly higher; a large number of buyers have become smart consumers, more proficient in online shopping skills.

E-commerce businesses have been actively transforming digitally, transforming digitally to adapt to the pandemic as well as preparing for business operations in the “new normal”. However, in parallel with the current rapid growth rate, it is necessary to orient e-commerce so that it can develop more sustainably. From there, it will help promote this sector to grow steadily and long-term in the future.

Ms. Dang Thuy Ha, Director of Customer Behavior Research, Northern region representative at NielsenIQ Vietnam

To promote sustainable e-commerce development, sharing at the forum, Ms. Dang Thuy Ha, Director of Customer Behavior Research, representative of the Northern region at NielsenIQ Vietnam said, it is necessary to focus on human resources for e-commerce.

Over the past years, about 70% of the retail e-commerce scale has been concentrated in the two economic hubs of Hanoi and Ho Chi Minh City. Meanwhile, the remaining 61 provinces and cities are places with large populations, large trading opportunities and especially have a diverse and quality supply of goods but have not been promoted to develop commensurate with their available advantages and potential.

Green e-commerce comes with rapid development, e-commerce also gradually reveals some negative impacts on the environment. Therefore, many policies are needed to encourage and promote the development of e-commerce along with environmental protection, towards a green e-commerce.

Ms. Ha also pointed out that, in terms of import and export, this is considered one of the important pillars of the Vietnamese economy. However, due to the impact of Covid-19 and its consequences, the import and export sector has also been greatly affected, especially when the movement and trade connection are limited, which has a more negative impact on the scale and growth rate of the industry.

In that context, many export enterprises have proactively applied online business solutions through e-commerce, expanding access channels to domestic and foreign customers at low cost and high efficiency.

"Online export is also gradually becoming a trend that has attracted the attention of many businesses in the industry recently," said Ms. Ha.

Many students are interested in digital transformation applications.

Assessing the potential of digital businesses today, Mr. Do Huu Hung, CEO of Accesstrade Vietnam, said that before 2000, the world's leading companies were mostly energy and retail companies... Just 10 years later, nearly 80% of the world's Top 4 leading businesses were technology companies, such as Facebook, Apple...

In Vietnam, over the past 10 years, we have seen traditional taxis, but they are now gradually being replaced by technology taxis. Traditional markets have e-commerce platforms such as Lazada and Shoppee.

Accordingly, from the actual figures pointed out by Mr. Do Huu Hung, businesses like Facebook and Google have revenue of several hundred billion USD but profit of about 40%, in contrast to traditional sales companies, revenue can be several thousand billion but profit is only a few%.

"This shows that a strong digital transformation race is taking place and in the near future, technology businesses will dominate market share on the stock exchanges," Mr. Hung emphasized.

Mr. Do Huu Hung, CEO of Accesstrade Vietnam shared at the forum

Synchronized solutions for businesses

From this evidence, Mr. Do Huu Hung pointed out that in order to transform digitally in sales, businesses need to have a synchronous solution. Firstly , digital solutions are needed, including accompanying units and especially a team of experts, that is, architects who build digital businesses to support businesses. Secondly , in addition to investing in information technology, it is necessary to improve infrastructure issues and, more importantly, awareness of strategy and vision. The last thing is the competitiveness of each business, building a sustainable brand.

Regarding this issue, Mr. Nguyen Tien Huy - founder and CEO of Pencil Group - a media and technology group operating mainly in the field of branding and communications, expressed that in order to stand firm in the market, businesses need to focus on building brand value for the business.

"Brand growth is like planting a tree. If you want it to be sustainable and grow quickly, you need to have a foundation in corporate culture. Corporate culture is the root of the tree, from which you get the seed for the brand, which is the philosophy of developing products and services," said Mr. Huy.

At the forum, speakers also shared expert perspectives on the online consumer market and assessed potential export trends and markets. They also discussed current B2B or B2C export trends; and technological solutions to support e-commerce business activities in general and online export.

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