Related news Vietnam’s floating markets among Southeast Asia’s most photogenic places Expanding market of Yen Dung fragrant rice Vietnam to open public procurement market HCM City's supermarkets see sales surge during holidays Vietnamese firms tap vegetarian food market

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.

Illustrative image.

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.

Hanoi, HCM City win TPO’s best marketing campaign award

Hanoi and Ho Chi Minh City were presented with the best marketing campaign award at the closing session of the eighth Tourism Promotion Organisation for Asian-Pacific Cities (TPO) Forum on June 22.

 

Vietnam exports first batch of fresh pork to foreign market

Mavin Group has become the first business in Vietnam to officially export fresh pork to a foreign market when the first batch was shipped to Myanmar, a success of not only the company but also the country’s animal farming sector.

 

Vietnam firms advised to penetrate into Middle East market

Besides traditional markets such as the US, EU and Japan, Vietnamese enterprises should make inroads into the Middle East market, according to experts.

 

Vietnamese farm produce showcased at world's largest wholesale market

The Vietnam Agricultural Products Week 2018 kicked off at Rungis International Market, the world's largest wholesale market for fresh produce, in Paris on June 26, in the hope of promoting exports of Vietnamese agricultural products to France and Europe in general.

 

Made-in-Vietnam woodwork conquering international premium markets

Vietnamese woodwork is making a mark worldwide, from furniture in five-star resorts to first class flights.

 

Source: VNA