The rapid growth of the digital economy in recent years has speeded up the evolution of the retail industry and changed consumers’ shopping behaviours. This has required retailers to make greater efforts to better serve customers’ diverse needs, and provide them with better shopping experiences.

The application of digital technologies in retail activities benefits both buyers and sellers

Recently, many large retailers in Viet Nam such as Big C, Saigon Co.op, Mega Market, Lotte Mart and Vinmart have developed their own online retail channels.

In particular, Saigon Co.op has developed online retail channel, HTV Co.op TV, and some online sales channels on its website.

Most recently, Vingroup has launched Viet Nam’s first virtual store chain to take advantage of a tech-savvy population and the widespread use of smart devices.

VinMart 4.0 is a new concept, providing images of more than 100 product groups, which are arranged as if in a real supermarket, in public spaces for customers to scan and order. The virtual stores are available in 20 locations in Ha Noi and Ho Chi Minh City, especially in highly-populated residential and crowded areas such as apartment and office buildings, schools, and bus stops.

Accordingly, customers can open their VinID app, select the Scan&Go function, and scan QR codes of the product they would like to buy at VinMart 4.0 and pay with VinID. The products will be delivered in between 2 and 4 hours.

Also, The Gioi Di Dong (Mobile World) - one of the largest mobile phone and electronic product distribution chains in Viet Nam - has applied e-price list instead of paper one.

In Da Nang, the Cosevco Ceramic Tiles JSC has applied business management software over recent years. Accordingly, the company has been actively involved in promoting the application of information technology (IT) in paying corporation tax, salaries for its employees, introducing new products and contacting its customers.

Mr Hoang Van Chien, Deputy Director of the company, highlighted the significance of the IT application in helping businesses expand their consumers' markets.

In addition to businesses and supermarkets, drinking and eating restaurants, fashion shops, and retail agents have taken the advantage of technology in their trading activities.

Ms Nguyen Thi Phuong Dung, the owner of the May 94 Clothing store on Nguyen Hoang in Hai Chau District, stressed the need for small traders to apply technology to promote their trading activities in the current fiercely competitive environment.

Apart from selling products at the store, Dung has to post video clips introducing her products on social network sites.

Lecturer Ho Nguyen Khoa from the Faculty of Business Administration of the city-based Duy Tan University highlighted the necessity for enterprises to apply digital technology, design eye-catching virtual stores and develop more attractive marketing programmes in a bid to increase their competitiveness and satisfy the increasing demand of customers.