“By going online, SMEs can expand not only to consumers domestically, but to a global marketplace that can be accessed by millions of Visa cardholders.” ‑ Dang Tuyet Dung, country manager for Vietnam and Laos, Visa The current pandemic has acted as a strong tailwind to the already burgeoning e-commerce market in Vietnam. Social distancing measures have driven more consumers to shop online than before. Specifically, a growing number of first-time users have switched to online grocery and delivery models. Many of these first-time buyers are from older age groups that tend to be the later adopters of e-commerce. A McKinsey mid-April consumer survey observed that the shift to digital channels is more telling. Nearly 40 per cent of respondents listed the availability of an online store or mobile app as a primary factor for why they switched to a new grocery store. In addition, respondents who are shopping for groceries online say they are spending more during COVID-19 than they did before, and they intend to continue to do so after the pandemic. “Even within physical stores, this digital shift is apparent as respondents express a stronger preference for contactless payment options, such as card tapping, in-app payment, and… Read full this story
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