Stores
Walmart caters to mobile shoppers
Diving deeper into mobile apps, WalmartLabs – which is Walmart Stores’ innovation lab – has acquired Stylr, a mobile app that allows shoppers to find...
Walmart caters to mobile shoppers
Diving deeper into mobile apps, WalmartLabs – which is Walmart Stores’ innovation lab – has acquired Stylr, a mobile app that allows shoppers to find...
Robinsons Retail seeks to expand through acquisition
Robinsons Retail of the Philippines plans to acquire small chains to increase its competitiveness.
Senior executives boost Myer's development
Australian retailer Myer has announced a series of executive appointments to put in place a strong executive team for its next phase of development.
China still attracts foreign retailers
Even as the Chinese economy slows and conditions become more difficult for foreign retailers, China is still the world’s second top destination for...
Gap is first US retailer to enter Myanmar
Retail brand Gap has announced it plans to produce clothing in Myanmar, making it the first American retailer to enter Myanmar since the country began...
Furla expands presence with new stores in Asian airports
Italian retailer Furla is continuing to expand its presence in travel retail across Asia.
Foreign brands face squeeze in China
Foreign brands are facing a sales squeeze in China as market growth slows and local companies grow and establish their presence.
Bernie Brookes: A true-blue world-class retailer
Retail is not a one-trick pony, says Bernie Brookes, CEO of Myer Holdings, and therefore he bets on a strategic five-point plan aimed at delighting...
Chow Tai Fook shines with gold
Hong Kong-based jeweller Chow Tai Fook said its net profit in the year to March 31 rose 32% as sales of gold products in China improved.
Walmart China to triple food safety spending
Walmart China has announced it will increase its spending on food safety to 300 million yuan (more than US$48.3 million) in 2013, 2014 and 2015, up...
Tetra Pak's Charles Brand on trends
At the World Processing Tomato Congress last month, Charles Brand, vice-president, Marketing and Product Management at Tetra Pak, spoke on global...
A winner in pizza packaging
A new pizza box concept has been introduced by plastic packaging specialist Faerch Plast, in which the base is produced from crystalline polyethylene...
KFC China to revamp restaurants to create social hangout ambience
US-based KFC, the biggest foreign fast-food chain in China, is planning a major revamp and makeover of its 130 restaurants in China.
Food processors unprepared for digital revolution, warns expert
The global food industry is on the eve of an online retailing revolution that will lead to fundamental changes for players along the supply chain...
El Nino predicted to raise India's edible oil Imports and affect major crops in SE Asia
Warnings about the effect of the El Nino factor on the world’s food crops have grown. The latest is a prediction by the Associated Chambers of...
CP Kelco's new Singapore facility aims to bring it closer to customers in Asia
US-based CP Kelco, a specialty hydrocolloids manufacturer, has opened a hub facility for South Asia alongside its dairy beverage centre of excellence...
WeChat users can now sell online
WeChat users can now set up “mini online stores” through the messaging app.
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1. South Korea's e-commerce market hits $115.1b in 2023 2. Rakuten and Thailand join hands to showcase Thai products 3. Deliveroo opens third Hop site in Kwun Tong 4. How TikTok drives consumer behavior through ‘shoppertainment’ 5. ShopUp to establish 700 distribution hubs across Bangladesh by 2025Resource Center
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Global uncertainties influence Vietnamese consumer preferences
![Global uncertainties influence Vietnamese consumer preferences]()
Still, the country’s retail and e-commerce sectors continue to expand.
THINK of the lingering global uncertainties in the market, and that well explains why consumer spending in Vietnam remains cautious.
At the recent Retail Asia Forum in Ho Chi Minh City, Lam Thi Ngoc Hao, partner head of clients and markets and head of business transformation at KPMG, said global uncertainties, including the effects of the COVID-19 pandemic and geopolitical tensions, continue to shape Vietnamese’s consumer behaviour.
She said the combined challenges make economic recovery difficult. Consequently, consumers become more cautious and deliberate in their spending decisions.
With Vietnam’s GDP per capita projected to rise significantly by 2030, driven by a youthful demographic and increasing disposable incomes, Hao emphasised the immense potential for businesses to capitalise on shifting consumer preferences.
She said that the average increase for retail apartments is around 7%–8%, with those sold outside the shop experiencing a range of 6%–7%. Additionally, e-commerce is expected to see significant growth, potentially reaching up to 17.7%.
Technological innovation plays an important role in enhancing customer experiences and driving business growth.
Hao highlighted the growing demand for artificial intelligence (AI)-driven solutions amongst businesses, with a majority expecting tangible returns on their investments within a few years.
She cited two primary categories of AI adoption, including everyday AI, aimed at boosting operational efficiency and customer satisfaction, and game-changing AI, poised to revolutionise industry dynamics in the coming years.
Urging businesses to embrace technological advancements whilst mitigating risks, she stressed the importance of strategic foresight in navigating the evolving landscape.
She said that over the past four years, KPMG conducted extensive global research involving 21 countries and over 82,000 participants, with 1,549 participants from Vietnam.
Utilising their customer experience measurement framework, KPMG assessed satisfaction, loyalty, and brand advocacy amongst participants, providing valuable insights for businesses to enhance customer experiences.
Their framework, employed across 150 countries, identified six key pillars influencing customer experiences, including product differentiation, personalised solutions, prompt issue resolution, empathetic customer service, proactive problem-solving, and continual innovation.
Still, the country’s retail and e-commerce sectors continue to expand.
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1. South Korea's e-commerce market hits $115.1b in 2023 2. Rakuten and Thailand join hands to showcase Thai products 3. Deliveroo opens third Hop site in Kwun Tong 4. How TikTok drives consumer behavior through ‘shoppertainment’ 5. ShopUp to establish 700 distribution hubs across Bangladesh by 2025Awards
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