700 local retailers to receive support worth VND21 billion

Truong To Linh, CEO of IFind Joint Stock Company, announces a VND21-billion package to support 700 Vietnamese retailers - PHOTO: HUNG LE

Retailers can register for the program at http://ifind.vn/21ty until August 3. The funds can be used for advertising on digital channels and in publications, marketing solutions, sales management, WiFi marketing, email marketing, customer care services and delivery.

IFind will set aside half of the package funds to help retail firms that have been established this year.

Linh said the package would help small and medium enterprises make use of the online to offline (O2O) channel, enhance their competitiveness and proactively employ new sales and marketing models in the era of mobile commerce.

The effective application of mobile apps will bring consumers a better experience and help them find outlets with low-priced goods.

This is the first time so many O2O service providers, including Haravan, S-wifi, KiotViet, iPOS.vn, Chili.vn, Nextify, CloudFone and ODS, have come forward to assist the retail sector.

Linh noted that the IFind app has helped Vietnamese retailers enhance their competitiveness and catch up with the Omni Channel retail trend. With the IFind app, customers can use gift codes and e-vouchers to directly conduct transactions with retailers without making advance payments.

The Vietnamese retail market is considered one of the most attractive in the world, with a high global retail development index. According to the General Statistics Office of Vietnam, total retail sales of goods and services in the first half of the year grew by 10.7% year-on-year.

However, foreign retailers are looking to expand their presence in the local market, making business more challenging for their local peers, especially small and medium ones. Besides the difficulties with locations, finance and operations, domestic retailers are inexperienced in sales and marketing in the era of digital technology and mobile devices.