Vietnamese businesses and the opportunity to break through with e-commerce by the end of 2024

With continuous opportunities and innovations, e-commerce is quickly becoming the main shopping channel, not only boosting sales but also opening up many opportunities for cooperation and development for Vietnamese businesses.

According to reports from Google, Temasek and Bain & Company, the size of Vietnam’s e-commerce market is expected to reach 39 billion USD by 2025, affirming Vietnam’s solid position on the regional e-commerce map. This figure is a testament to impressive growth and promises many opportunities for businesses that are agile in leveraging technology to develop and compete in the near future.

One of the prominent trends is the focus on essential and entertainment products, especially during year-end promotions such as Black Friday, Concentrated Promotion Program, Online Friday and Tet. E-commerce platforms not only compete on price but also focus on improving user experience, personalizing shopping services through artificial intelligence (AI) and big data. These are important tools to help platforms retain customers and increase revenue.

Fierce competition between e-commerce platforms

Competition between major e-commerce platforms is increasingly fierce. Especially during major year-end shopping events, these platforms continuously launch large promotional campaigns, not only to attract consumers but also to improve their position in the market.

In addition to strong discount programs, competition also extends to after-sales services such as fast delivery, flexible return policies and customer care. These are important factors that help e-commerce businesses build trust and consumer satisfaction. If businesses do not optimize these steps, it will be difficult to retain customers and survive in a fiercely competitive environment.

Focus on real value instead of competing on price alone

According to experts, focusing only on discounts to attract customers will not bring long-term effectiveness. Businesses need to improve customer experience and optimize operating costs through the application of new technology. Only then can sustainable development be ensured in an increasingly competitive market.

This shows that, to survive and develop in the long term, businesses need to build real values, not just rely on short-term promotional strategies. Sustainable development needs to be based on technology platforms, supply chain optimization and improved consumer experience.

Prospects for e-commerce development in the future

With the continuous development of technology, logistics infrastructure and increasing consumer demand, the Vietnamese e-commerce market in the last months of 2024 is expected to continue to have strong breakthroughs. Businesses need to be ready to prepare for an increasingly dynamic and competitive e-commerce business environment. Grasping and applying new technology trends will help businesses not only survive but also take the lead in the global e-commerce race.

E-commerce not only brings opportunities for revenue breakthroughs for Vietnamese businesses but also serves as a platform for businesses to participate more deeply in the international supply chain, thereby enhancing the position of Vietnamese goods in the global market.

Digital Vietnamese Goods Experience Space - A meeting place between technology and consumers

One of the most prominent events in the e-commerce sector at the end of the year is the National E-commerce Week and Vietnam Online Shopping Day - Online Friday 2024 organized by the Ministry of Industry and Trade . This has become a space to experience digital Vietnamese goods, where technology and consumers meet in the biggest online shopping festival expected at the end of each year.

Not only is it an opportunity for consumers to access attractive shopping offers, Online Friday is also a playground for businesses in the field of e-commerce and digital technology to announce and introduce advanced products, services and solutions. This event not only promotes the development of e-commerce in Vietnam but also creates conditions for Vietnamese businesses to enhance their position, thereby making a strong breakthrough in this potential market.

Source: https://moit.gov.vn/tin-tuc/bao-chi-voi-nguoi-dan/doanh-nghiep-viet-va-co-hoi-but-pha-voi-thuong-mai-dien-tu-cuoi-nam-2024.html