The retail industry is utilizing advantages from digitization to better integrate and dominate markets, and multi-media and multi-form platforms play an increasingly important role, especially online shopping channels and e-commerce platforms.

Chairman of the Vietnam Union of Science and Technology Associations (VUSTA) Phan Xuan Dung made the statement at the “Cool Product Awards 2022” organized by Vietnam Economic Times / VnEconomy on December 7.

“The majority of Vietnamese consumers are still familiar with traditional retail sale models,” he said. “However, their consumption habits, psychology, and behavior have undergone significant changes after two years of pandemic.”

Reality shows that, in digital transformation, the winners are those who dare to think and dare to do to make a difference. Enterprises should therefore be fully prepared in the rapidly changing digital economy.

“Digitization is not about losing the old models but about taking advantage of changes so that the retail industry can well integrate and dominate the future market,” Mr. Dung said. “They are looking for a tool to handle existing problems in the traditional retail model while maximizing opportunities of e-commerce to recover and grow post Covid-19.”

He added that he expects the “Cool Product Awards” will further help consolidate the retail community, promoting links between producers, distributors, and consumers for a transparent and valuable consumption market.

The “Cool Product Awards 2022”, organized for the 16^th year, recognized and honored quality and prestigious products and services that meet national and international standards for a healthy environment.