Businesses overcome difficulties to regain growth momentum

Change strategy

Developing multi-channel marketing and sales methods is a trend chosen by many businesses when consumer consumption is affected by the economic situation, consumer prices, etc. Many domestic businesses have made efforts to find markets and restructure production and business activities to maintain and develop operations, creating new competitive values.

Mr. Nguyen Ngoc Luan, CEO of Meet More Coffee, said that the company is actively diversifying its export market portfolio. Recently, the company has continuously participated in fairs and exhibitions to find partners and promote the market. In addition to domestic consumption, the company's agricultural coffee products with mint, mango, taro, coconut, etc. flavors are available on supermarket shelves in many European countries and in Korea, the US, Australia, and India. In the coming time, the company will target the markets of China, Singapore, and the Philippines.

Finding new export markets is also the way this enterprise overcomes the difficult period. Mr. Nguyen Hoang Dat, Director of Vinahe Company Limited (Binh Phuoc) said that the enterprise has just spent 4 days researching the market and promoting trade in the tourist province of Mondulkiri, Cambodia.

According to Mr. Dat, to many people, the above place name sounds strange, but in fact, the demand for consuming the products is quite potential. There are not many agricultural products produced and processed in-depth in Cambodia, mainly imported. Partners from neighboring countries highly appreciate the quality of Binh Phuoc cashews. Vinahe plans to develop the distribution of its main products, which are cashews seasoned with garlic, chili, butter, etc., to supermarkets, restaurants, and hotels in Mondulkiri.

Cashew businesses develop new products for export. Illustrative photo.

“In the context of slowing product consumption in traditional markets, finding other markets will increase opportunities for businesses,” said Mr. Dat.

Deputy General Director of Lothamilk Joint Stock Company Nguyen Duc Tung said that the company proactively diversified its marketing channels to develop and expand the market. In addition to traditional channels, the company also promoted online marketing channels from websites to social networks to attract more customers, thereby developing consumption channels.

According to businesses, in the current context of declining demand and unpredictable market, it is also very difficult for businesses to build long-term strategies but focus on managing to maintain production in the short term, even adjusting plans monthly to suit reality.

Multi-channel sales trend

Along with finding new markets, the trend of expanding sales channels and bringing products to many different business platforms is the way many businesses choose to overcome difficult times. Mr. Le Bach Long - Director of Nam Long Company Limited shared that in previous years, the company has proactively invested in technology to create a competitive advantage in the market.

In recent times, in the face of economic difficulties, the company has proactively connected marketing and advertising channels, participated in trade promotion programs, expanded sales channels, increased brand awareness of the company to consumers, balanced domestic and export market shares to maintain appropriate production.

Meanwhile, Ms. Tran Thi Yen Phi - Director of DSW Trading & Service Company Limited informed that up to now, the company's agricultural export revenue on the e-commerce platform is growing 350% compared to the same period last year. This result is thanks to the two key markets of China and Korea. In the Chinese market alone, the current revenue is estimated at approximately 2 million USD. With this growth momentum, Ms. Phi sets the export target of 3.5 million USD by the end of the year and penetrates the EU market in the near future...

In fact, today's shoppers have become "digital consumers" by maintaining traditional purchasing channels while increasing their use of e-commerce and online shopping platforms.

According to Mr. Nguyen Ngoc Dung - Chairman of the Vietnam E-commerce Association (Vecom), the trend of shoppertainment - that is, combining sales channels with entertainment - is a new trend that has been mentioned a lot recently and is increasingly attracting the attention of businesses. For consumers, usually when accessing any website or e-commerce channel, there is only information, lacking interaction, it will be boring. Therefore, if we combine entertainment elements such as watching idols perform, watching live streams, and at the same time, the shopping link for the products they are looking for appears at that time... it will help customers shop more comfortably, conveniently and diversely.

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