Vietnam among world’s top five competitive retail markets
Thursday, November 8,2018AsemconnectVietnam - Vietnam’s retail market is one of the top five competitive compared to others in the world, heard a seminar held in Ho Chi Minh City on November 7.
Over the past decade, most shopping activities have been conducted on smartphone and mobile platforms, rather than on more traditional laptops. Tapping into this trend, a number of retailers have come up with new business models to adapt to virtual shopping experiences and information searches online.
Jason Moy from the Boston Consulting Group highlighted the need to build proper models that forecast consumption trends, using advanced technologies and artificial intelligence.
In order to survive the rapid waters of modern technology, he suggested improving traditional models with online shopping apps.
He advised them to stay well connected with loyal consumers, and increase interaction and brand recognition.
Le Thi Thuy Trang, director of Niesel Vietnam’s consumer behavior research unit, said that consumers today spend more on goods rather than fast consumption ones such as electronics and pharmaceuticals.
According to experts, retailers could do with learning about consumers’ tastes to better meet their demand via big data analysis.
Nguyen Anh Duc, permanent Deputy General Director of the Saigon Union of Trading Cooperatives (Saigon Co.op), said the union will adopt technology to lead the market in food and organic products.
It will also develop new retail models to reach 2 million consumers across more than 2,000 points of sale in Vietnam and nearby regions by 2020.
Jason Moy from the Boston Consulting Group highlighted the need to build proper models that forecast consumption trends, using advanced technologies and artificial intelligence.
In order to survive the rapid waters of modern technology, he suggested improving traditional models with online shopping apps.
He advised them to stay well connected with loyal consumers, and increase interaction and brand recognition.
Le Thi Thuy Trang, director of Niesel Vietnam’s consumer behavior research unit, said that consumers today spend more on goods rather than fast consumption ones such as electronics and pharmaceuticals.
According to experts, retailers could do with learning about consumers’ tastes to better meet their demand via big data analysis.
Nguyen Anh Duc, permanent Deputy General Director of the Saigon Union of Trading Cooperatives (Saigon Co.op), said the union will adopt technology to lead the market in food and organic products.
It will also develop new retail models to reach 2 million consumers across more than 2,000 points of sale in Vietnam and nearby regions by 2020.
Source: Vietnamplus.vn
Fertilizer export markets in first 5 months of 2023
Exports of animal feed reached 426.3 million USD in first 5 months of 2023
Imports of animal feed reached over 1.93 billion USD in first 5 months of 2023
DAILY: Vietnamese pepper prices fell by 500 VND on June 23
DAILY: Vietnamese coffee prices rose by 200 VND on June 23
Exports to China reached 20.3 billion USD in first 5 months of 2023
Coffee exports surpassed 2 billion USD in first 5 months of 2023
Vietnam considered rising star to become emerging market
Vietnam logistics sector offers attractive investment opportunities
Hanoi’s economy sees effective recovery
Reference exchange rate on upward trend
Vietnam lychee market update: Harvest in Central Highlands a success
DAILY: Vietnamese pepper prices fell by 500 VND on June 22
DAILY: Vietnamese coffee prices fell by 500 VND on June 22
Plan on implementing national strategy on climate change ...
Actively and effectively adapting, reducing vulnerability, loss and damage due to climate change; reduce greenhouse gas emissions ...Scheme on attracting, restructuring and improving quality ...
Urban development plan of Binh Phuoc province in a period ...
Plan on implementing Decision No. 327/QD-TTG dated March ...
Hung Kings Temple Festival 2023 kicks off
The Hung Kings Temple Festival 2023 and the Culture and Tourism Week of Ancestral Land 2023 kicked off in the northern province of Phu Tho ...Vietnam trounce Palestine at AFC U-17 Women's Asian ...
Phu Tho: Festival honours UNESCO intangible cultural ...
Saigontourist Group Food and Culture Festival 2023 opens
Vietnam’s top swimmer Huy Hoang to hold Vietnamese flag at ...