The country’s e-commerce sector is entering a new stage of development, focusing on sustainability based on the combination of market and technology with selective investment and cost optimisation for sustainable development goals (SDGs), the report says.

Sustainability and responsible business will be the trend of e-commerce in Vietnam in the future as 57 per cent of users in the country stop buying products or services that have an adverse impact on the environment or society, according to the E-Commerce Industry 2023 Report released recently by the Vietnam Chamber of Commerce and Industry and Lazada.

In terms of business, the sector will create more value for stakeholders by building a community for partners in fields like payment, operations and logistics, sellers, brands and consumers.

The sector will also prioritise investment in technologies that support trade openness and use of application programming interfaces to connect and take full advantage of services of many partners on e-commerce platforms, according to the report.

In terms of investment, the sustainable development of e-commerce will continue to focus on long-term investments in infrastructure, technology, logistics and human resources.

And in payment, e-commerce firms will increasingly expand connections with a variety of financial partners and develop the ‘buy now, pay later’ model to meet the payment needs of consumers and create more flexible and easier manners in shopping on e-commerce, a Vietnamese news outlet cited the report as saying.

The report, with the theme ‘Sustainable E-Commerce: Driving the Digital Economy’, was recently released by the Vietnam Chamber of Commerce and Industry (VCCI) and Lazada.

Fibre2Fashion News Desk (DS)