{"id":5108,"date":"2021-09-27T09:28:39","date_gmt":"2021-09-27T09:28:39","guid":{"rendered":"https:\/\/indochinapost.com\/en\/?p=5108"},"modified":"2021-09-27T09:28:39","modified_gmt":"2021-09-27T09:28:39","slug":"how-can-vietnams-e-commerce-players-foster-greater-market-growth","status":"publish","type":"post","link":"https:\/\/indochinapost.com\/en\/how-can-vietnams-e-commerce-players-foster-greater-market-growth\/","title":{"rendered":"How can Vietnam\u2019s e-commerce players foster greater market growth?"},"content":{"rendered":"

VIETNAM is one of Asia\u2019s most promising e-commerce markets with profits from e-commerce.<\/p>\n

Although neighboring nations such as Indonesia, Singapore, Malaysia, and Thailand dominate the regional e-commerce sector, Vietnam has emerged as a major force to be reckoned with.<\/div>\n
Following Indonesia and Thailand, it is Southeast Asia’s third-largest e-commerce market. What’s more amazing is that these figures were accomplished despite the country’s very poor internet infrastructure.<\/div>\n
This milestone was made feasible by a growing internet population, increased user penetration, and large-scale foreign investments in local retail firms like Tiki, Sendo, and Thegioididong.<\/div>\n
Local shoppers, on the other hand, appear to prefer international e-commerce shops over local ones, particularly Amazon, which joined the market early last year.<\/div>\n
According to one research, consumers’ worries about product quality and delivery time are putting pressure on bigger development opportunities and will most likely contribute to a preference for international merchants.<\/div>\n
When customers were polled, 30% stated that the quality of e-commerce items purchased is not precisely what they expect.<\/div>\n
Twenty-six percent, on the other side, mentioned restricted online product selection compared to physical stores, as well as slow delivery times, as factors influencing their e-commerce activity.<\/div>\n
This indicates that local players must reconsider their business strategies, operational efficiency, logistical capabilities, and suggested selling factors in order to reclaim consumers.<\/div>\n
Despite massive foreign financial inflows into local e-commerce stores and investment by significant retailers themselves, it is obvious that the proper business plans are lacking.<\/div>\n
Local players must work hard to understand the demands of their local market, the constraints of their trips, and the faults that prevent deeper user penetration.<\/div>\n
Not to add, local players, must make greater efforts to diversify goods selection, enhance product quality, provide supply chain transparency, and increase logistical efficiency.<\/div>\n
Some of the above-mentioned issues can be addressed by forming supply chain alliances and using appropriate technologies.<\/div>\n

Again, e-commerce players must understand what it means to be digital and what it takes to truly deliver on the promises of digital convenience and efficiency.<\/p>\n

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E-COMMERCE GROWTH PRESENTS LOGISTICS CHALLENGES THAT ARE HIGHLY PROFITABLE<\/strong><\/h4>\n<\/div>\n<\/div>\n<\/div>\n
Of course, some may question why a preference for foreign shops should be a cause for concern. In order to alleviate poverty, boost employment, enhance the livelihood, and promote more digital initiatives, it is important for a developing country’s economic growth to be supported by local business operations.<\/div>\n
Nonetheless, Vietnam is a developing e-commerce tiger that could soon overtake surrounding countries and emerge as a thriving economy \u2014 as long as local e-commerce firms solve their constraints.<\/div>\n