Online business boosted amid COVID-19

(VOVWORLD) - The COVID-19 pandemic raised the importance of digital transformation and digital technology, particularly in business. E-commerce has allowed businesses to reach more customers while cutting transaction costs.
Online business boosted amid COVID-19 - ảnh 1

Doan Thuy of the Glovimex Company, which sells fine arts products, said the company has been selling online for nearly three years. Since shifting from offline to online transactions, Glovimex has promoted its products on online marketing pages, the B2B channel, social networks, and other websites.

Thuy said: "Since we engaged in e-commerce, our sales have doubled. We have cut our travel and personnel costs and are reaching more customers. As a result, we are receiving more orders and our revenue has increased."

Nguyen Thien Phuc, Director of the Innovative Hub Vietnam Company, said businesses need to take advantage of smart digital technologies to make their online business more effective.

Phuc said it’s important to build a trade mark in online channels, search tools, and websites: "In addition to having good products, we need to build an image for those products and provide detailed, accurate, persuasive information about them. That will make it easier for customers to find our products and increase their trust in us."

Online selling has spread to import-export activities. Le Trong Them, Director of the LTT and Lawyers Law Firm, warns, however, that businesses should work out a detailed business plan and be aware of the rules of e-commerce platforms to minimize risks and economic losses: "Businesses need to listen to the instructions of e-commerce platform providers in order to protect their revenues. They also need to learn the rules governing international transactions to minimize their risks. They should participate in associations and cooperate with state agencies in addressing disputes."

The Vietnam E-Commerce Association forecasts that Vietnam’s e-commerce will increase 30% this year, surpassing 15 billion USD and reaching 52 billion USD by 2025. Under the master plan for national e-commerce development in the 2021-2025 period, e-commerce will continue to be the vanguard of the digital economy and a driver of business competitiveness and export market expansion.