In 2023, the trend of expanding multi-channel sales will continue to be applied by many units. Statistics show that up to 55.4% of sellers are doing business on at least two channels – in-store and some online channels. E-commerce platforms continue to be the most used online sales channel in the retail industry.
A special highlight in 2023 is that sellers tend to expand the TikTok Shop channel (the proportion of businesses selling mainly on the TikTok channel accounts for 5.9%, a slight increase compared to 2022).
Omnichannel sales are identified as a “lifesaver” in a volatile economic situation.
Omni-channel sales are identified as a “lifesaver” in a volatile economic situation, with erratic fluctuations in rental prices in big cities and tightening of regulations on e-commerce platforms. Large, algorithmic changes on social networks – affecting the marketing and product offering process of the retail industry.
Although it is forecasted that 2024 will still have many difficulties affecting development, through survey results, regarding 75% of sellers expect that the market in 2024 will have recovery and growth.
In the retail industry, the most common intention of sellers is to expand sales channels (29.37%) to social networking channels such as Facebook and Zalo (27.07%); followed by commercial platforms (21.96%) and TikTok Shop (20.66%). In the FnB food and beverage industry, restaurant and cafe owners largely choose to diversify their business products (40.9%).
The sales channel chosen to expand the most is social network channel (33.3%). With 3 popular food ordering apps today, respondents choose to expand their business: Shopee Food (23.6%), GrabFood (12.4%) and Go Food (6.7%), respectively.
Clearly, retailers must adapt and innovate to stay competitive in an environment defined by the exponential growth of e-commerce, the emergence of omnichannel retail, and the need to Consumer demand for same-day delivery is increasing.
Here are the leading retail trends of 2024:
Firstly, expand sales channels, put products on many different business platforms, and take advantage of the power of online sales channels. In recent years, omnichannel sales are showing advantages in revenue efficiency and marketing costs. According to the general trend, sellers will promote the expansion of sales channels to reduce cost pressure on one channel.
Vietnamese people love online shopping. Photo: Thanh Tung.
Second, shopping combined with entertainment, with fast delivery: Platforms like TikTok are paving the way for live video shopping, providing an innovative way for retailers to interact with consumers. This interactive shopping experience enables real-time interactions and personalized recommendations, creating a unique and engaging shopping environment.
As consumer expectations increase, same-day delivery is becoming the norm rather than the exception. Retailers are under pressure to streamline their fulfillment processes to meet this demand. Companies like Amazon have set the standard with their Prime delivery service, pushing other retailers to follow suit.
Third, payment via QR codes will increasingly account for a high proportion of non-cash payment forms. Therefore, technology businesses will coordinate closely with the retail segment of commercial banks and financial institutions to keep up with the market’s payment trends and provide comprehensive support solutions for merchants. sales and buyers.