Boosting online payments for e-commerce growth Online shopping has become more and more popular and received a lot of attention in the past five years, especially amid the COVID-19 pandemic. The Institute for Brand and Competitiveness Strategy organised a forum titled “Consumption tendency in Viet Nam: The future of online payments and consumption” in Ha Noi on Thursday. Dang Thuy Ha, director of Nielsen in the northern region, said that there were four billion people connected to the internet worldwide this year with 30 per cent of retail sales done through electronic applications. It is predicted that the global sharing economy will reach a value of US$300 billion by 2025. Viet Nam’s internet users will account for nearly 60 per cent of the population this year and 33 per cent of Vietnamese consumers will make direct money transfers online when shopping. Commenting on the future of Viet Nam’s retail industry, Dinh Thi My Loan, honourary Chairwoman of the Vietnamese Retailers’ Association, said that now was the era of e-commerce. The fourth industrial revolution was putting businesses in a race, said Loan. Digital transformation is considered to be an irreversible trend, but many Vietnamese businesses fail due to incorrect understanding and… Read full this story
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