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, stated that integration is not only about exports 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 several policy directions for the development of domestic trade, including policies to develop 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.

In addition, it provides training programs and technical support to help Vietnamese businesses improve their production capacity, meet international standards, and participate in global supply chains.

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

Ms. Tran Thi Phuong Lan, President 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 accelerate digital transformation, upgrade infrastructure, and improve customer experience. Investing in multi-channel sales systems, applying AI in order management, inventory forecasting, and personalized offers helps increase operational efficiency and revenue.

Simultaneously, developing modern logistics, especially cold chain supply or the physical store model – combining in-person and online shopping – is seen as a new direction to retain customers.

Small and medium-sized enterprises (SMEs) also need support to participate in e-commerce, standardize labeling, promote digital payments, and ensure secure transactions. AI and Big Data are becoming "competitive weapons" that help understand customer behavior, optimize pricing, and predict consumer trends.

However, the human element remains fundamental; retail workers need to be equipped with digital skills and smart customer service abilities.

Businesses also proposed the issuance of mechanisms to support financial assistance, human resource training, enhance the competitiveness of domestic businesses, and build reasonable technical barriers to protect the market.

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