eCommerce trending towards sustainability

Data from Lazada shows that 57% of Vietnamese consumers have purchased certain products or services because of their impact on the environment. — Reuters

HO CHI MINH CITY: Sustainable eCommerce will connect individual shopping behaviours towards long-term shopping trends including search, selection, purchase, payment and exchange.

This is one of the sustainable development trends for Vietnam eCcommerce market which is predicted in a report called Sustainable development in eCommerce: Driving force for the digital economy released by Vietnam Chamber of Commerce and Industry (VCCI) and eCommerce platform, Lazada.

From in-depth analysis and assessment of areas in eCommerce sustainable development, the report asserts that Vietnam eCommerce is entering a new stage of development, focused on sustainable development based on market technology development, through selective investment and cost optimisation during a phase of elevated economic uncertainties.

According to the report, the rate of eCommerce users in Vietnam is continuously increasing, reaching 52 million in 2022, a 13.5% increase year on year, and within them has risen a new generation of consumers – generation Z – with clear manifestations that have led to significant changes in shopping.

Current consumers also shop smarter, looking for more refined experiences and expecting higher value as opposed to hunting discounts; they are also increasingly seeking eco-friendly products.

Data from Lazada shows that 57% of Vietnamese consumers have purchased certain products or services because of their impact on the environment.

The application of technology is indispensable to effectively improve customer experience. Current effective technologies for consumer experience on eCommerce include shoppertainment, customisation, personalisation and virtual reality.

The other trend in the market is that sustainable eCommerce will continue to focus on long-term investments in infrastructure, technology, logistics and human resources.In the current time, building a sustainable business model based on environment, social and governance has become indispensable for businesses, helping them gain clear vision and strategic direction within fast-paced, digitalised industries.

Sustainable eCommerce will also create more value for stakeholders as it builds a community based on synergised values for and from partners and consumers.

Sustainable eCommerce will also give priority to connecting technologies, such as the usage of Application Programming Interface at all touchpoints with partners to connect and leverage partner services on platforms.

Another trend is in the payment sector, where payment in eCommerce will grow in features and options, connecting to a variety of financial partners and transitioning towards “buy now, pay later” to meet consumer demands while making purchases on eCommerce increasingly more flexible and easier.Sustainable eCommerce will bridge the gap in knowledge and understanding of eCommerce for businesses and consumers nationwide, contributing to increased knowledge according to the national eCommerce development plan for the period 2021-2025, the report said. — Viet Nam News/ANN

As part of the release of the 2023 eCommerce report, Lazada Vietnam will continue to work with VCCI and experts to bring the report to thousands of local businesses, while also participating in a series of talks at universities and exploring speaking opportunities at industry events to promote sustainable development in eCommerce. - Viet Nam News/ANN.

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Vietnam , eCommerce , Lazada , payments , technologies , environs


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