E-commerce activities continued to grow by double digits, reaching 28% in 2022. (Photo tapchitaichinh.vn)This is one of the sustainable development trends for Vietnam e-commerce marketwhich is predicted in a report called “Sustainable development in eCommerce:Driving force for the digital economy” released by Vietnam Chamber of Commerceand Industry (VCCI) and e-commerce platform, Lazada.
From in-depth analysis and assessment of areas in e-commerce sustainabledevelopment, the report asserts that Vietnam e-commerce is entering a new stageof development, focused on sustainable development based on market technologydevelopment, through selective investment and cost optimisation during a phaseof elevated economic uncertainties.
According to the report, the rate of e-commerce users in Vietnam iscontinuously increasing, reaching 52 million in 2022, a 13.5% increase year onyear, and within them has risen a new generation of consumers – generation Z –with clear manifestations that have led to significant changes in shopping.
Current consumers also shop smarter, looking for more refined experiences andexpecting higher value as opposed to hunting discounts; they are alsoincreasingly seeking eco-friendly products.
Data from Lazada shows that 57% of Vietnamese consumers have purchased certainproducts or services because of their impact on the environment.
The application of technology is indispensable to effectively improve customerexperience. Current effective technologies for consumer experience one-commerce include shoppertainment, customisation, personalisation and virtualreality.
The other trend in the market is that sustainable e-commerce will continue tofocus on long-term investments in infrastructure, technology, logistics andhuman resources.
In the current time, building a sustainable business model based on Environment,Society and Governance (ESG) has become indispensable for businesses, helpingthem gain clear vision and strategic direction within fast-paced, digitalisedindustries.
Sustainable e-commerce will also create more value for stakeholders as itbuilds a community based on synergised values for and from partners, businessesand consumers.
Sustainable e-commerce will also give priority to connecting technologies, suchas the usage of Application Programming Interface (API) at all touchpoints withpartners to connect and leverage partner services on e-commerce platforms.
Another trend is in the payment sector, where payment in e-commerce will growin features and options, connecting to a variety of financial partners andtransitioning towards ‘buy now, pay later’ to meet consumer demands whilemaking purchases on e-commerce increasingly more flexible and easier.
Sustainable e-commerce will bridge the gap in knowledge and understanding ofe-commerce for businesses and consumers nationwide, contributing to increasedknowledge according to the national e-commerce development plan for the period2021-2025, the report said.
As part of the release of the 2023 e-commerce report, Lazada Vietnam willcontinue to work with VCCI and experts to bring the report to thousands oflocal businesses, while also participating in a series of talks at universitiesand exploring speaking opportunities at industry events to promote sustainabledevelopment in e-commerce./.
VNA
