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Sunday, July 14, 2024

To succeed in cross-border e-commerce

The Saigon Times

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“We need to think about a strategy to build a common brand for Vietnamese goods, so that when consumers think of Vietnamese goods, they think of quality that matches the price,” said Dr. Thai Kim Phung, vice principal of the School of Technology and Design, University of Economics Ho Chi Minh City (UEH), and a member of the Ho Chi Minh City E-Commerce Development Council, in an interview with The Saigon Times. Why are we lagging behind? The Saigon Times: e-commerce is believed to strongly boost the consumer economy, with each product having a shorter lifecycle and competition primarily based on price. However, for production bases that are not yet strong, like Vietnam, we face pressure on the supply of goods and product costs. How should this be understood? Dr. Thai Kim Phung: Since its inception, e-commerce has made life increasingly convenient, optimizing the shopping experience for users, thereby promoting growth in consumption. According to the latest report from the Department of E-Commerce and Digital Economy under the Ministry of Industry and Trade, the size of Vietnam’s e-commerce market in 2023 reached US$20.5 billion, up by about US$4 billion, or 25%, compared to the same period in 2022. By 2023, […]
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