Economy
HCM City hosts international bakery exhibition
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| A consumer shops online. Firms have been urged to adopt new business models to adapt with the fast-changing world. – VNS Photo Đoàn Tùng |
Viet Nam News
HCM CITY — Winning consumers’ trust and developing a business reputation is one of the major challenges toward online business development, experts said at the Việt Nam Online Business Forum – VOBF 2017 in HCM City yesterday.
Nguyễn Hữu Tuấn, from the Department of Electronic Commerce and Information and Communication Technology, said Việt Nam has put in place a legal framework to ensure a favourable environment for e-commerce.
However, customers are still concerned about risks when purchasing online, he said, adding that his department has made efforts to enhance its management capability and strengthen the connection between firms and consumers to protect the legitimate rights of online shoppers and enterprises.
Nguyễn Thanh Hưng, President of the Việt Nam E-Commerce Association, highlighted the potential of Việt Nam’s e-commerce market, which is forecast to grow at between 25-30 per cent a year. He stressed, however, that each firm needs to develop their own development strategy in order to achieve success.
Hưng noted that many firms have joined online e-trade aiming for long-term goals, but they only focused on promotion, failing to pay due attention to connecting with customers, developing a supply chain, and investing in information and communication infrastructure.
Meanwhile, Director General of Nielsen Việt Nam Nguyễn Hương Quỳnh underlined the development trend of the online business on the basis of online connection, urbanisation, consumers, e-payment, and new business models.
Therefore, enterprises in e-commerce should pay attention to basic requirements of consumers, instead of merely offering promotion or discounts, she said.
Quỳnh also advised firms to develop their brand names to improve their competitiveness, while connecting with partners to support each other. — VNS
