During the seminar on April 22, hosted by the Ho Chi Minh City Union of Business Association to promote the participation of Vietnamese goods in domestic and international e-commerce, Mr. Nguyen Ngoc Hoa, the Chairman of the association, stated that e-commerce is the most cost-effective channel to explore markets.
More importantly, it is the best way to measure customer demand to improve production and business operations, thereby having more appropriate market access solutions.
Mr. Nguyen Huy, Co-founder of Kardia Labs and Director of KardiaChain, has provided some key statistics highlighting the potential for e-commerce in Vietnam. He notes that there are currently 5 billion people online globally, with the average user spending almost 7 hours a day on the Internet. Moreover, it is predicted that the market value for technology that connects the real world and digital space will reach US$35.8 billion by 2025.
In Vietnam, over 70 percent of the population owns smartphones, and more than 65 percent have Internet access, making it an ideal market for e-commerce. These figures demonstrate the necessary factors to promote Vietnamese goods and expand the market through e-commerce.
Vietnamese products have the advantage of being diverse, but they lack sufficient investment in branding to raise their value in the global market. To take advantage of the potential of the e-commerce market, enterprises need to invest in personnel who specialize in online export. Moreover, products need to be diverse and competitively priced. Additionally, the approach to buying and selling must be synchronized across multiple channels and adaptable to flexible working hours to meet global demand.
