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Cloud is the ‘new normal' for today's fast-growing enterprises
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Tesco top-line figures drill down
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SP eCommerce takes retailers & brands online at Cloud-enabled speed
Retailers and brands looking to establish an online presence quickly and efficiently without having to invest in heavy infrastructure and set-up cost can do so by outsourcing this to an e-commerce enabler.
Online Startup - RedMart builds grocery business Cloud-high
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Yum Brands affected by meat scandal
The tainted meat scandal in China has affected US fast-food giant Yum Brands’ fourth-quarter results. The parent of KFC, Pizza Hut and Taco Bell restaurant chains reported a net loss of US$36 million in the October-December quarter, compared with a net income of US$321 million a year ago.
Hungry Panda gobbles up rivals in Asia
Global online food delivery company foodpanda.com has gobbled up key competitors in several Asian countries, thereby consolidating its leading position in the Asian food delivery market.
Easy-to-use frozen fruit ice-cream maker
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Nestlé launches gluten-free cereal
Consumers now have another healthy option for their breakfasts with the launch of Nestlé’s new gluten-free corn flakes.
Manuka Health opens new factory to meet growing demand
Manuka Health has opened a new purpose-built honey processing and distribution centre in New Zealand that will greatly expand its capacity to meet the growing demand of its golden honey.
Arla sets up regional business unit in KL
Arla Foods is setting up a new regional business unit to lead the organisation into the next phase of its development in Asia.
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Global uncertainties influence Vietnamese consumer preferences
![Global uncertainties influence Vietnamese consumer preferences]()
Still, the country’s retail and e-commerce sectors continue to expand.
THINK of the lingering global uncertainties in the market, and that well explains why consumer spending in Vietnam remains cautious.
At the recent Retail Asia Forum in Ho Chi Minh City, Lam Thi Ngoc Hao, partner head of clients and markets and head of business transformation at KPMG, said global uncertainties, including the effects of the COVID-19 pandemic and geopolitical tensions, continue to shape Vietnamese’s consumer behaviour.
She said the combined challenges make economic recovery difficult. Consequently, consumers become more cautious and deliberate in their spending decisions.
With Vietnam’s GDP per capita projected to rise significantly by 2030, driven by a youthful demographic and increasing disposable incomes, Hao emphasised the immense potential for businesses to capitalise on shifting consumer preferences.
She said that the average increase for retail apartments is around 7%–8%, with those sold outside the shop experiencing a range of 6%–7%. Additionally, e-commerce is expected to see significant growth, potentially reaching up to 17.7%.
Technological innovation plays an important role in enhancing customer experiences and driving business growth.
Hao highlighted the growing demand for artificial intelligence (AI)-driven solutions amongst businesses, with a majority expecting tangible returns on their investments within a few years.
She cited two primary categories of AI adoption, including everyday AI, aimed at boosting operational efficiency and customer satisfaction, and game-changing AI, poised to revolutionise industry dynamics in the coming years.
Urging businesses to embrace technological advancements whilst mitigating risks, she stressed the importance of strategic foresight in navigating the evolving landscape.
She said that over the past four years, KPMG conducted extensive global research involving 21 countries and over 82,000 participants, with 1,549 participants from Vietnam.
Utilising their customer experience measurement framework, KPMG assessed satisfaction, loyalty, and brand advocacy amongst participants, providing valuable insights for businesses to enhance customer experiences.
Their framework, employed across 150 countries, identified six key pillars influencing customer experiences, including product differentiation, personalised solutions, prompt issue resolution, empathetic customer service, proactive problem-solving, and continual innovation.
Still, the country’s retail and e-commerce sectors continue to expand.
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1. South Korea's e-commerce market hits $115.1b in 2023 2. Rakuten and Thailand join hands to showcase Thai products 3. Deliveroo opens third Hop site in Kwun Tong 4. How TikTok drives consumer behavior through ‘shoppertainment’ 5. ShopUp to establish 700 distribution hubs across Bangladesh by 2025Awards
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