Retailers are feeling the bite of COVID-19 as business grows scarce According to Nishitohge Yasuo, CEO of AEON Vietnam, business was fairly good in January thanks to buoyant transactions ahead of Vietnam’s traditional Lunar New Year holiday. Sales, however, saw a decline this month. He attributed this to the emergence of COVID-19, which has brought a plunge of 20-30 per cent in visitor number to AEON’s shopping venues. … [Read more...] about Retailers striving to mitigate COVID-19 implications
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With emerging channels growing in popularity, including minimarkets, convenience stores and ecommerce, there will be a continuing shift from traditional shopping behaviors to omni-channel and multi-channel shopping, reinforcing the rising omnichannel trend in the retail and FMCG market in the coming time. — VNS … [Read more...] about What effect will COVID-19 have on Vietnam’s FMCG market?
Zara, with two stores in Hanoi and HCM City, had revenue of VND1.7 trillion in 2018, which was six times higher than 2017. Meanwhile, H&M, with seven stores, had revenue of VND653 billion in the 2018 fiscal year, or 4.3 times higher than 2017. Zara, with two stores in Hanoi and HCM City, had revenue of VND1.7 trillion in 2018, which was six times higher than 2017. Meanwhile, H&M, with seven stores, had revenue of VND653 billion in the 2018 fiscal year, or 4.3 times higher than 2017. … [Read more...] about Foreign brands shake up Vietnamese fashion market
Hanoi (VNA) – Vietnamese e-commerce platforms has forced the removal of thousands of medical supplies from online shops for selling at inflated prices, as part of efforts to keep the market stable during the COVID-19 outbreak. According to the Ministry of Industry and Trade (MoIT), as of February 24, Vietnamese top e-commerce players such as Sendo, Shopee, Lazada, Tiki, chotot, fado, bibomart and concung, among others, examined 463,865 online stores with more than 1.75 million medical products. As many as 5,200 sellers with over 21,000 products were handled for pricing violations during the inspections. On Sendo.vn, 3,000 products in the category of medical mask and 500 alcohol hand-wash gel items were removed. Meanwhile, the numbers of removed items on Shopee.vn were over 3,500 and 500, respectively. The ministry said that other e-commerce platforms also tackled nearly 1,000 merchants selling nearly 10,000 face mask items, and 700 others selling nearly 1,000 hand-washing gel … [Read more...] about Medical supplies with inflated prices removed from e-commerce sites
On February 18, Singapore announced a financial package worth US$4.6 billion to cope with the epidemic, which would focus on providing support to companies operating in sectors suffering the most from the epidemic, including aviation, tourism and retail and low-income households. … [Read more...] about Singapore firms seek suppliers of agricultural products in Viet Nam