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Roughly 20-30 per cent of the COVID-related shift to digital globally is expected to be permanent, according to a fresh report from Mastercard Put another way: in 2020, e-commerce made up roughly $1 out of every $5 spent on retail, up from about $1 out of every $7 spent in 2019. As COVID-19 kept consumers around the world at home, nearly everything from groceries to gardening supplies was purchased online. For retailers, restaurants, and other businesses large and small, being able to sell online provided a much-needed lifeline as in-person consumer spending was disrupted. Roughly 20-30 per cent of the COVID-19-related shift to digital globally is expected to be permanent, according to Mastercard’s Recovery Insights: Commerce E-volution. Roughly 20-30 per cent of the COVID-related shift to digital globally is expected to be permanent, according to Mastercard’s Recovery Insights: Commerce E-volution. The report draws on anonymised and aggregated sales activity in … [Read more...] about New Mastercard report: E-commerce a COVID-19 lifeline for merchants

Efforts to stimulate domestic consumer market continue as pandemic threatens exports The Ha Noi Department of Industry and Trade will organise five Vietnamese Goods Weeks this year to stimulate demand. Photo baodauthau.vn The Ministry of Industry and Trade will organise conferences to connect producers, suppliers and retailers, and events for producers and traders, especially small traders, to help take goods to residential areas, industrial parks and rural and mountainous regions, the Sai Gon Giai Phong (Liberated Sai Gon) newspaper reported. It will help encourage consumption by fostering the evening economy and holding fairs and exhibitions of products and services. It continues to implement the ‘Vietnamese people give priority to using Vietnamese goods’ programme. It will also promote the adoption of IT and foster e-commerce. The Ha Noi Department of Industry and Trade will organise five Vietnamese Goods Weeks this year to stimulate demand. To be held in … [Read more...] about VIETNAM BUSINESS NEWS APRIL 16

LG refuted rumours that it is looking to sell its Haiphong smartphone plant At the meeting with leaders of the Ministry of Planning and Investment's Foreign Investment Agency on April 14, Jung Hai Jin, general director of LG Electronics Vietnam Haiphong in Haiphong's Trang Due Industrial Zone confirmed that the company is not looking for a buyer for its Haiphong smartphone factory. He said that it would restructure the major business lines of LG that would have no impact on LG Electronics' operation in Haiphong and the employment of workers there. He reiterated that LG is not looking to sell its factory for $90 million. The LG Electronics factory in Haiphong was invested $1.5 billion to manufacture smartphones, TVs, air conditioners, vacuum cleaners, and washing machines. It also provides after-sales services, installation, maintenance, repair, and other services for all LG products. Earlier, after announcing to withdraw from the smartphone business, LG Electronics was … [Read more...] about LG refuses to sell Haiphong smartphone plant