Illustrative image (Photo: VNA) Hanoi (VNA) - According to General Statistic Office, in thefirst six months of 2021, total retail sales of goods and services went up 4.9 percentcompared to the same period in 2020 to 2,463.8 trillion VND (over 107 billion USD), of which goods retail revenue hit 1,985.4 trillion VND, up 6.2 percent.
According to economists, the results could be attributed to the fact that the people, household businesses and firms have been quick to adapt their business operation to the new normal situation amid the pandemic and actively apply technological solutions in trading and payment. This means digital transformation has played a important role in promoting the growth of the retail sector in particular and maintaining stabilityfor the business community in general.
Vice Chairman of the Vietnam Chamber of Commerce and IndustryHoang Quang Phong stressed the importance of digital transformation to the development of Vietnamese businesses, especially those in the retail sector. The rapid changes in technology enable retail companies to optimise their resources and place consumers at the centre of their businesses,therefore helping them survive, stabilise their operations and thrivesustainably in the context of the complicated development of COVID-19pandemic.
The application of new technology such as Internet of Things(IoT), Big Data, AI and Machine Learning have allowed businesses to providecustomer services with unique and valuable experiences, optimising managementstrategies as well as supply chain, hence improving revenue.
Do Khac Cuong, Sales Director of Corporate Banking andPartner Channel Manager, Microsoft Vietnam, said that in a global survey of 800 business executives conducted by The Economist and Microsoft, respondents in theretail industry said that improving customer experience was the top factordriving their digital transformation in the past time (49 percent compared to thesurvey average of 36 percent). This showed that the COVID-19 pandemic has made digital transformationmore important than ever, especially for the retail industry.
The survey also showed that retailers that deploy onlineshopping channels and have deep understanding of customers managed to better survivethe impacts of pandemic./.
Vice Chairman of the Vietnam Chamber of Commerce and IndustryHoang Quang Phong stressed the importance of digital transformation to the development of Vietnamese businesses, especially those in the retail sector. The rapid changes in technology enable retail companies to optimise their resources and place consumers at the centre of their businesses,therefore helping them survive, stabilise their operations and thrivesustainably in the context of the complicated development of COVID-19pandemic.
The application of new technology such as Internet of Things(IoT), Big Data, AI and Machine Learning have allowed businesses to providecustomer services with unique and valuable experiences, optimising managementstrategies as well as supply chain, hence improving revenue.
Do Khac Cuong, Sales Director of Corporate Banking andPartner Channel Manager, Microsoft Vietnam, said that in a global survey of 800 business executives conducted by The Economist and Microsoft, respondents in theretail industry said that improving customer experience was the top factordriving their digital transformation in the past time (49 percent compared to thesurvey average of 36 percent). This showed that the COVID-19 pandemic has made digital transformationmore important than ever, especially for the retail industry.
The survey also showed that retailers that deploy onlineshopping channels and have deep understanding of customers managed to better survivethe impacts of pandemic./.
VNA
