The year-end online shopping frenzy has kicked off with giant local and foreign players like Lazada, Tiki, Sendo, and Shopee rolling out promotions since the middle of last month.
Despite non-stop spending, Lazada remains overwhelmed by local platforms Sendo and Mobile World, in addition to other players Shopee and Tiki.
VOV.VN - Despite remarkable progress, the e-transaction market still fails to meet the demand of sustainable development. E-transactions need to become even more popular in anticipation of a digital economy.
As online commerce has boomed, agencies fear that it will be difficult to prevent banned goods, goods restricted for import and export, and origin fraud.
E-commerce in Vietnam is growing, however many individuals and businesses are taking advantage of online platforms to sell poor quality and fake goods, harming customers and causing lost tax revenues.
The Ministry of Finance is building a draft scheme on the management of e-commerce activities for imports and exports.
Each e-commerce platform needs to spend millions of US dollars to gain a single per cent of market share from competitors, showing just how serious the competition is.
Tiki is pouring money into warehousing and Lazada is live-streaming videos on social media as competition intensifies in Vietnam’s e-commerce market.
Many foreign giants have continuously invested in leading e-commerce sites in Vietnam even as they incur big losses as they continue to see the long-term potential of the country’s rapidly expanding online shopping sector.
Online shops could be the major clients of the firms as they have diverse service requests.
VOV.VN - Lazada has failed to hold its crown as the most visited ecommerce platform nationwide amid increasing competition in the domestic market.
As service platforms now have a large number of users, online marketplaces have begun thinking of removing the payment fee exemption to ease losses.
Shopee and Lazada have begun collecting fees from sellers, while Tiki has exempted fees for two years.
As the laws set light sanctions on violators, e-commerce websites and sellers would rather pay fines than obey the law.
In tackling violations by e-commerce firms related to low-quality goods and fake discounts, the opening of dedicated shopping websites is set to become an inevitable trend in order to avoid negative impacts from conducting business on common e-commerce platforms, and reducing dependence on them.
Online Black Friday retailers failed to enthuse customers with usual discounts, while brick and mortar stores saw heavy traffic.
Renowned brands like Samsung, Oppo, LG, Jetstar, Vinamilk, Mattana, Canifa, and Uma, among others, will offer their products at a substantial discount during the fifth Online Friday scheduled for December 7.
The country’s shift towards a globalised economy will be driven by the strength of its workforce, according to company Michael Page Vietnam specialising in search for professionals at middle management to leadership levels.
The strong growth of the e-commerce sector has been turning Vietnam into a major magnet for investment in the capital-thirsty logistics industry.
Auchan Retail Vietnam and Lazada Vietnam, an Alibaba-owned online retailer, has recently signed a memorandum of understanding on strategic cooperation to allow customers to purchase French products online with rapid delivery through Lazada.
