Jason Song from TikTok Asia Pacific said that in the new conditions of the economy, Vietnamese enterprises have been increasingly participating in the digital economy.

He noted that many small and medium enterprises in Vietnam have been expanding marketing and sales activities on online shopping-entertainment platforms.

According to the senior executive of TikTok, short-form video has become a media trend on social networks. In addition, short-form videos are impacting consumers’ confidence, behaviors and decisions to buy goods on online platforms.

Describing a portrait of Vietnamese online consumers, Son said that about 50 percent of Vietnamese users are influenced by free delivery. 

Studies found that during the online shopping process, 38 percent of Vietnamese are affected by reviews from people who have bought the products before, while 36 percent are persuaded by discount coupons and sale promotion campaigns.

Regarding online shopping experiences, Vietnamese consumers want quick and simple payment procedures and a return policy after the purchases. Fast delivery is also expected by Vietnamese.

In current conditions, according to Jason Son, a new phenomenon has appeared, called ‘community trade’, that is the trend of users feeling happy when joining social network platforms.

Digital platforms, therefore, will make an increasingly high contribution to digital transformation, helping small and medium enterprises in Vietnam master new technology trends to do business in the digital environment.

According to the White Book about Vietnam e-commerce in 2022, the B2C retail e-commerce market in Vietnam is expected to have a value of $39 billion by 2025, and Vietnam will have the second highest e-commerce growth rate in Southeast Asia.

Reports showed that more Vietnamese consumers choose to buy goods via foreign websites. The number of consumers buying goods from foreign sellers via e-commerce platforms in Vietnam has also increased rapidly. The proportion of businesses that have business activities on social networks such as Viber, WhatsApp, Skype and Facebook Messenger increased to 57 percent by 2021.

It is expected that by 2025, revenue from e-commerce in Vietnam would reach $39 billion, second to Indonesia in Southeast Asia, while the total revenue of the Internet –based economy would be $57 billion.

Trong Dat