Accelerate digital transformation in commercial business

With the strong development of the Fourth Industrial Revolution, along with the impact of the COVID-19 pandemic, the changing consumer trends have created momentum to accelerate the process of digital transformation more rapidly. This in the commercial and service sectors is seen as an inevitable trend. In Thanh Hoa province, many commercial businesses have gradually adopted DT practices, viewing this as a key factor to enhance business efficiency.

In recent years, Thanh Hoa province has witnessed a significant surge in digital transformation (DT) within the commercial and service sectors. This includes deploying advanced digital technologies to optimize activities such as management, sales, product marketing, and customer interaction. Key implementations encompass e-commerce development, online transactions, digital advertising, technology-based transportation services, QR code integration, electronic wallets, and online payment systems. According to reports from the Department of Industry and Trade, 50% of businesses now have their own websites for information dissemination and product promotion, 35% are engaged in online transactions, 70% facilitate electronic payments, and 10% utilize specialized software for management and business operations such as sales software, enterprise resource planning (ERP) systems, accounting software, electronic invoicing, and digital signatures.

Thanks to the conveniences brought by digital transformation (DT), not only are customer segments unrestricted, but the market for goods consumption is also expanding. For instance, Winmart+, as a pioneering entity in DT, has developed and maintained the VinID application on smartphones. Through this, the stores regularly update products, prices, promotions, and discounts, thereby cultivating consumer shopping habits. Ms. Le Ngoc Hoa, residing in Tan Son Ward (Thanh Hoa City), stated: “As a busy individual with a small child, I have limited time for shopping. Since installing the VinID app on my phone, I can actively track the items I usually use and make purchases immediately when there are discount programs. Especially during the COVID-19, I even ordered goods online from the nearby Winmart+ store, and the store staff promptly and conveniently delivered them to my location.”

 

It is noted that all Winmart+ stores in the province currently utilize digital technology in staff and inventory management, customer care, and sales. By enhancing sales and product introduction on digital platforms, Winmart+ has expanded its customer base and ensured stable revenue for each store, even during the pandemic.

Currently, not only major supermarkets but also smaller convenience stores and traditional retailers in the province are embracing digital platforms to diversify sales and boost product promotion. Live streaming on social media platforms like Facebook and TikTok, along with intensified online sales via e-commerce websites, are common strategies adopted by businesses like Emspo, a women’s fashion store in Thanh Hoa City. These businesses also employ various technological solutions such as cashless payment systems and automated surveillance cameras, resulting in enhanced management capabilities and streamlined customer transactions. Incentives like a 5% discount for customers paying via QR codes on mobile banking apps further encourage digital transactions. These efforts contribute to the growth of the commercial sector, especially in the post-COVID-19 economic recovery phase.

Recognizing the importance of digital transformation (DT) for the development of the digital economy, Thanh Hoa province has issued various plans and policies to support infrastructure investment, management, technology transfer, and financial assistance to encourage DT initiatives. The province aims to have over 2,000 businesses and household businesses instructed on DT-related matters in trade promotion by 2025. The goal is for 55% of the population to participate in online shopping, for 100% of businesses to have updated websites providing comprehensive information on product introductions and promotions, and for 50% of small and medium-sized enterprises to conduct business activities on e-commerce platforms.

Source: Thanh Hoa News