Many businesses boost exports through e-commerce

Online exporting is gradually becoming a trend.

According to the Vietnam E-commerce Index Report 2023, 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, continuing the two previous growth waves, the Vietnam E-commerce Association (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.

Specifically, VECOM pointed out that the two most important marks of e-commerce today can be mentioned as: 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.

The field of online export is also gradually becoming a trend attracting the attention of many businesses.

Assessing the current digital transformation adaptation process of enterprises, Mr. Nguyen Ngoc Dung - Chairman of the Vietnam E-commerce Association said that traders, especially e-commerce enterprises, have actively transformed digitally. In particular, many enterprises have promoted exports through e-commerce. Online import and export is also considered one of the important pillars of the Vietnamese economy.

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

The proportion of internet users in Vietnam increased rapidly from 60% in 2018 to 74% in 2023; 60.7% of internet consumers shop weekly in Vietnam; 30% of consumers who spend the most contribute 70% of the value to the digital economy in Vietnam.

Predicting the growth of the digital economy, Ms. Dang Thuy Ha - Director of Customer Behavior Research, representative of the Northern region at NielsenIQ Vietnam said that in Vietnam, the digital economy is predicted to grow rapidly and can be considered one of the main growth drivers of Vietnam.

Believing that e-commerce still has a lot of potential, Ms. Ha said that consumer trends have an impact on the digital economy, and that consumers tightening their spending will be an opportunity for e-commerce because online shopping is one of the measures to help consumers cut spending during economic recession. Therefore, businesses need to take advantage of this opportunity.

In addition to the advantages, mentioning the difficulties, Mr. Nguyen Ngoc Dung informed that due to the impact of COVID-19 and its consequences, the import-export sector in recent years has also suffered many major impacts, especially when the movement and trade connection are limited, which has had a more negative impact on the scale and growth rate of the industry.

Omni shopper trend

Regarding the solution, the Chairman of the Vietnam E-commerce Association said that 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. The field of online export is also gradually becoming a trend attracting the attention of many enterprises in the industry in recent times.

In addition, experts said that businesses and retailers agree that online business will be unlimited and change very quickly, so businesses that want to survive must not only compete in product quality, price and delivery time, but also must grasp customer psychology, flexibly use effective marketing tactics to attract customers to products with strengths.

21% of businesses said that investing in information technology and e-commerce infrastructure brings very high practical efficiency.

Specifically, Droppii platform founder Nguyen Huu Son stated that the price factor will only be secondary as consumers increasingly pay attention to reputable products and businesses. They are willing to boycott poor quality goods as well as dissatisfied with delivery services.

Therefore, online marketing businesses must always determine the priority level for brand positioning activities, stabilize product quality as well as prices with many suitable online marketing and advertising scenarios and methods.

Ms. Dang Thuy Ha recommends that businesses need to diversify and build the right platform strategy. Accordingly, e-commerce retailers, food delivery apps and social media sales are the platforms with the highest purchase conversion rates.

Businesses also need to choose a suitable e-commerce platform to build a business website. In particular, it is necessary to clearly identify 5 factors before building a separate e-commerce website: Scale, budget, requirements, what can be done with the platform, and the platform's features.

To set up a suitable e-commerce platform, businesses need to ensure that the supplier understands the online business and grasps the business scenarios. From there, create experiences that are as enjoyable in the online store as they are in the physical store. At the same time, consider whether the customer journey is being fulfilled and determine that high revenue is not the goal; focus more on awareness and operation.

Along with the development of e-commerce, the trend of Omni shopper (multi-channel shopper) is becoming popular. According to the Repota 2023 report, Omni shopper continues to maintain an important position in the shopping field. The most popular shopping channels currently trusted by Vietnamese people are e-commerce websites with 78%, social networks such as Facebook, Instagram, Zalo... with 42% and 47% via mobile shopping applications.

In addition, according to a survey from HubSpot 2023, 80% of marketers said that users tend to buy directly through social networks instead of websites or third parties.

Important factors that consumers care about when shopping online include price, product quality, delivery time and reliability of the e-commerce website. Besides, some users prefer to buy from foreign websites due to cheaper prices, better product quality, foreign brands and special requirements when shopping online.

Although some people are concerned about online safety and security, the rate of users continuing to shop online across channels is still very high. Therefore, there is no doubt about the influence of multi-channel shoppers in promoting the development of the e-commerce industry. This also shows that the door to cross-border e-commerce is always open for businesses.

Director of Customer Behavior Research, Northern region representative at NielsenIQ Vietnam pointed out: Livestream is a potential sales channel, 86% of exclusive offers/promotions are only available on livestream; 85% interact with sellers to get more information (materials, functions...); 81% can observe products more carefully and thoroughly; 78% watch sales via livestream because they find it entertaining, interesting, engaging...

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