Applying technology in the retail industry is the next step in its evolution and will enable the offering of new experiences for customers while, conversely, retailers that are sluggish to update and innovate face being left behind.
The retailer community last week was stirred up by the news that a Vietnamese enterprise had acquired a famous foreign retail brand just after one month of negotiations.
For a long time, Vietnam has been considered as a potential retail market thanks to crowded population and strong purchasing power but not every retailer is able to succeed in doing business here.
VOV.VN - Local retailing, which has often been considered as a lucrative business, becomes an uninspiring market with many retailers vying to maintain their existing operations and market share, experts have said.
The developer of the IFind promotion program collection app and a dozen providers of retail support services have announced a package worth VND21 billion (US$908,700) to support 700 domestic retailers in marketing and online sales.
More and more investments have been seen in the pharmaceutical industry, from production to distribution.
Many retailers have announced sales promotions to attract shoppers during the long Reunification Day-Labour Day weekend.
VinaCapital has invested US$32.5 million in Ba Huan, a poultry egg producer, while Kido plans to join forces with a Thai partner to make bottled milk tea and herbal drinks.
Foreign retail businesses who came and introduced modern trade methods, technology together with professional management skills, have posed a big challenge to Vietnamese retailers.
VOV.VN - The retail industry has changed dramatically in the digital age where everything is connected, requiring retailers to continue to innovate to better serve customers’ diverse needs, speakers have said at a one-day summit held in Ho Chi Minh City.
Starting July 31, only pork with traceable origins is ostensibly allowed to enter HCM City’s two wholesale markets, but inspections by authorities found that only around 13% of the pork in the markets actually had clear origins, according to the Department of Industry and Trade.
For the first time Ho Chi Minh City has started a new tax collection campaign targeting retailers on Facebook, the most popular social network in Vietnam.
VOV.VN - Phuong My, a leader in creating the perfect dress for any occasion, showed his latest banquet dresses at a gala in Hanoi and received exceptionally positive reviews from buyers and retailers.
VOV.VN - Quang Ba night flower market in Tay Ho district, Hanoi has become hectic and bustling as from early the Valentine Day which falls on February 14.
The year-end peak season has been an excellent one for the retail sector in Ho Chi Minh City.
The capital's retailers are looking to cash in before they close up for Tet.
Many Vietnamese furniture makers are struggling to win large orders from global retailers due to a significant shortage of wood.
VOV.VN - The coming year will be another challenging one for domestic sector retailers as they seek to maintain market share and compete with the growing foreign sector for sales revenue, said experts at a recent business forum in Hanoi.
More and more retailers in the country are shaking hands with big e-commerce companies in order to widen their business activities while ensuring cost savings.
The Thai Department of Internal Trade has asked retailers to put price tags on black and white clothes, to prevent them from taking advantage of grieving customers.