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Change strategy
Developing multi-channel marketing and sales strategies is a growing trend among businesses, as consumer spending is heavily influenced by economic conditions and consumer prices. Many domestic businesses have strived to find new markets and restructure their production and business operations to maintain and develop their businesses, creating new competitive advantages.
Mr. Nguyen Ngoc Luan, CEO of Meet More Coffee, said that the company is actively diversifying its export market portfolio. Recently, the company has continuously participated in trade fairs and exhibitions to find partners and promote markets. In addition to domestic consumption, the company's coffee products with mint, mango, taro, and coconut flavors are now available on supermarket shelves in numerous European countries, as well as in South Korea, the US, Australia, and India. In the future, the company aims to target the markets of China, Singapore, and the Philippines.
Seeking new export markets is also a way for this business to overcome difficult times. Mr. Nguyen Hoang Dat, Director of Vinahe Co., Ltd. ( Binh Phuoc ), said that the company recently spent four days researching the market and promoting trade in the tourist province of Mondulkiri, Cambodia.
According to Mr. Dat, while the place name may sound unfamiliar to many, the demand for its products is actually quite promising. Cambodia doesn't produce or process many agricultural products domestically; most are imported. Cambodian partners highly appreciate the quality of cashews from Binh Phuoc. Vinahe plans to develop the distribution of its main product – flavored broken cashews with garlic, chili, butter, etc. – to supermarkets, restaurants, and hotels in Mondulkiri.
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| Businesses are developing new products for export. (Illustrative image) |
"In the context of stagnant product consumption in traditional markets, seeking out other markets will increase opportunities for businesses," Mr. Dat said.
According to Nguyen Duc Tung, Deputy General Director of Lothamilk Joint Stock Company, the company proactively diversifies its marketing channels to develop and expand its market. Besides traditional channels, the company is also boosting online marketing channels, from its website to social media, to attract more customers and thus develop its sales channels.
According to businesses, in the current context of declining demand and unpredictable market conditions, it is very difficult for them to develop long-term strategies. Instead, they focus on maintaining production in the short term, even adjusting plans on a monthly basis to suit the reality.
Multichannel selling trend
Along with seeking new markets, the trend of expanding sales channels and bringing products to various business platforms is a way many businesses are choosing to overcome difficult times. Mr. Le Bach Long, Director of Nam Long Co., Ltd., shared that in previous years, the company proactively invested in technology to create a competitive advantage in the market.
Over the past period, in the face of numerous economic difficulties, the company has proactively connected with marketing and advertising channels, participated in trade promotion programs, expanded sales channels, increased brand awareness among consumers, and balanced domestic and export market share to maintain production appropriately.
Meanwhile, Ms. Tran Thi Yen Phi, Director of DSW Trading & Services Co., Ltd., reported that, to date, the company's agricultural export revenue on e-commerce platforms is growing by 350% compared to the same period last year. This result is thanks to the two key markets of China and South Korea. Revenue from the Chinese market alone is currently estimated at approximately $2 million USD. With this growth momentum, Ms. Phi aims for export revenue of $3.5 million USD by the end of the year and to penetrate the EU market in the near future...
In reality, shoppers today have become "digital consumers," maintaining traditional purchasing channels while increasingly using e-commerce platforms and online shopping.
According to Mr. Nguyen Ngoc Dung, Chairman of the Vietnam E-commerce Association (Vecom), the shoppertainment trend – combining sales channels with entertainment – is a new trend that has been widely discussed recently and is attracting increasing attention from businesses. For consumers, accessing any website or e-commerce channel that only provides information without interaction can be boring. Therefore, incorporating entertainment elements such as watching idols perform, live streams, and simultaneously providing links to purchase desired products will make shopping more comfortable, convenient, and diverse for customers.
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