E-commerce in Vietnam is entering a new stage focused on sustainable development and based on market technology through selective investment and cost optimisation during a phase of elevated economic uncertainties, according to a report released recently by the Vietnam Chamber of Commerce and Industry (VCCI) and e-commerce platform Lazada.

The number of e-commerce users in Vietnam is continuously rising. It reached 52 million in 2022—a 13.5 per cent increase year on year (YoY), said the report, titled ‘Sustainable development in e-Commerce: Driving Force for the Digital Economy’.

Sustainable e-commerce will connect individual shopping behaviours towards long-term shopping trends including search, selection, purchase, payment and exchange, it said.

A new generation of consumer—generation Z—has been cultivated with clear manifestations that have led to significant changes in shopping, a news agency cited the report as saying.

Consumers now also shop smarter, looking for more refined experiences and expecting higher value as opposed to hunting discounts; they are also increasingly seeking eco-friendly products, it said.

Fifty-seven per cent of Vietnamese consumers have purchased certain products or services because of their impact on the environment, data from Lazada shows.

Current technologies effective for consumer experience on e-commerce include shoppertainment, customisation, personalisation and virtual reality.

Sustainable e-commerce will continue to focus on long-term investments in infrastructure, technology, logistics and human resources. It will also create more value for stakeholders as it builds a community based on synergised values for and from partners, businesses and consumers, the report said.

Payment in e-commerce will grow in features and options, connecting to a variety of financial partners and transitioning towards ‘buy now, pay later’ to meet consumer demands, while making purchases on e-commerce increasingly more flexible and easier, it added.

Fibre2Fashion News Desk (DS)

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