Recovery signs in consumer sector a basis for Vietnam to push forward

Amid the difficulties posed by Covid-19, businesses in the consumer sector have shown initiative to adapt and overcome the pandemic, Mr. Ho Quang Loi, Permanent Vice Chairman of the Vietnam Journalists’ Association, told the Ceremony Announcing & Honoring the Top 10 Cool Product Awards 2021, held by Vietnam Economic Times - VnEconomy on December 18.

In the current context, it is even more important for brands and products to promote their investment and expand production and business. Without consumption, the economy will not be able to develop.

Mr. Loi also said this is a problem that requires businesses to use their potential and creativity to actively adapt and find momentum for new development.

Thanks to the strong pace of its development, technology has become a lifeline for all businesses, especially consumer businesses, allowing them to maintain activities and develop the economy and society amid a state of stagnation.

Technology and creativity based on science and technology have helped businesses cut costs, control risks, improve workplace and business efficiency, and reach customers more easily.

Not only well-known brands but also small and medium-sized enterprises (SMEs), especially startups, form part of the market. Consumer trends, meanwhile, have extended to unbranded retailers, discount shops, and online businesses.

In general, Mr. Loi said that any business that has rapidly transformed digitally in recent years also holds an advantage because business processing has become faster and more streamlined. Such changes create a shift in consumer confidence, making the process of communicating with customers via digital content even more important.

Businesses that grasp these trends well and provide sufficient goods to various channels to satisfy consumers and constantly promote safety messages among their employees and the community will easily win the trust of customers.