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Over the past decade, most shopping activities have been conducted on smartphone
and mobile platforms, rather than on more traditional laptops. Tapping into this
trend, a number of retailers have come up with new business models to adapt to
virtual shopping experiences and information searches online.
Jason Moy from the Boston Consulting Group highlighted the need to build proper
models that forecast consumption trends, using advanced technologies and
artificial intelligence.
In order to survive the rapid waters of modern technology, he suggested
improving traditional models with online shopping apps.
He advised them to stay well connected with loyal consumers, and increase
interaction and brand recognition.
Le Thi Thuy Trang, director of Niesel Vietnam’s consumer behavior research unit,
said that consumers today spend more on goods rather than fast consumption ones
such as electronics and pharmaceuticals.
According to experts, retailers could do with learning about consumers’ tastes
to better meet their demand via big data analysis.
Nguyen Anh Duc, permanent Deputy General Director of the Saigon Union of Trading
Cooperatives (Saigon Co.op), said the union will adopt technology to lead the
market in food and organic products.
It will also develop new retail models to reach 2 million consumers across more
than 2,000 points of sale in Vietnam and nearby regions by 2020.
Source: VNA
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