Vietnam's retail market is undergoing major transformation.

On the afternoon of October 28, within the framework of the first Autumn Fair, the Department of Domestic Market Management and Development (Ministry of Industry and Trade) organized a forum on domestic trade development policy.

Overview of the forum. Photo: PL

Mr. Bui Nguyen Anh Tuan, Deputy Director of the Department of Domestic Market Management and Development, said that integration is not only about exporting but also about opening up to receive new flows of goods, services and technologies, creating healthy competition. The domestic market is an inseparable part of the global value chain.

The Department of Domestic Market Management and Development has proposed a number of policy orientations for domestic trade development, including policies for developing new markets for Vietnamese goods.

The Department proposed developing a specialized e-commerce platform to introduce and sell Vietnamese products to international markets, integrating tools to support translation, payment and logistics.

Along with that, providing training programs and technical support to help Vietnamese enterprises improve production capacity, meet international standards and participate in the global supply chain.

People shop for goods at the Autumn Fair taking place in Hanoi . Photo: PL

Ms. Tran Thi Phuong Lan, Chairwoman of the Vietnam Retailers Association, emphasized that the Vietnamese retail market is transforming from a traditional to a modern model, from mass consumption to smart and sustainable consumption.

To adapt to the new market, retail businesses need to promote digital transformation, upgrade infrastructure and improve customer experience. Investing in multi-channel sales systems, applying AI in order management, inventory forecasting and personalizing incentives helps increase operational efficiency and revenue...

In parallel, developing modern logistics, especially cold supply chains or phygital store models – combining direct and online shopping – is considered a new direction to retain customers.

Small and medium-sized enterprises also need support to participate in e-commerce, standardize labels, promote digital payments and ensure safe transactions. AI and Big Data become “competitive weapons” to help understand customer behavior, optimize prices and forecast consumption trends.

However, the human factor is still the foundation, retail human resources need to be equipped with digital skills and smart customer care.

Enterprises also proposed issuing financial support mechanisms, training human resources, improving competitiveness for domestic enterprises and building reasonable technical barriers to protect the market.

Source: https://hanoimoi.vn/thi-truong-ban-le-viet-nam-dang-chuyen-doi-lon-721328.html