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|Visa launches Where You Shop Matters campaign to help SMEs go digital and support Vietnamese retailers|
The onset of COVID-19 has seen consumers turn to online shopping in record numbers with Vietnamese consumers making a daily average of 30 million online purchases. In a recent report by Kantar, 62 per cent of Vietnamese consumers confirmed that they had increased their online purchases significantly, while in a separate report, 72 per cent of Vietnamese respondents agreed it was important for retailers to have an online presence and 75 per cent said that it is important for retailers to accept digital payments.
Dang Tuyet Dung, Visa country manager for Vietnam and Laos, said, “The Where You Shop Matters initiative is part of Visa’s broader vision of supporting small- and medium-sized enterprises (SMEs). It follows Visa’s pledge to support 10 million small and micro-businesses across the Asia-Pacific, and a global commitment from the Visa Foundation to provide $210 million in COVID-19 emergency relief to the small business sector. Here in Vietnam, the campaign will help to connect shoppers with merchants across Vietnam, enabling SMEs to access new customers quickly, capitalise on the trajectory in favour of e-commerce, and maximise their revenue streams in this difficult period.”In the wake of the pandemic, experts have identified that digitalisation is key to stimulating growth and accessing new customers, and the government has responded by passing policy directive No. 11, focusing on creating favourable conditions for accessing electronic payments, removing administrative difficulties and costs for businesses, and encouraging imports and exports.
Shifts in favour of e-commerce and the removal of barriers to digitalisation are already being reflected in the behaviour of business owners, with 71 per cent of Vietnamese SMEs saying that they’ve adopted new methods for getting products and services to customers since the onset of the pandemic (including e-commerce, curbside pickup, and delivery).
“Taking business online can be a daunting prospect for many SMEs who might not know where to start. We’re excited to offer Visa’s support through partnerships with popular e-commerce enablers Shopee, the leading e-commerce platform in Southeast Asia and Taiwan, and NowFood, a pioneering food delivery service operating nationwide. In providing onboarding and advertising support, as well as issuing cardholder incentives and promotions for newly onboarded SMEs, Visa is helping to drive online traffic and making digital adoption easier for SMEs across the country,” announced Dung.
Shopee will apply discounts of up to VND30,000 ($1.30) for Visa cardholders purchasing over VND300,000 ($13) on the platform, in order to encourage more activity and sales. “As Vietnam braces for the second wave of the COVID-19 pandemic, Shopee is committed to further strengthening our ecosystem to offer all our users a more secure, seamless and rewarding way to shop and do business online.
With Visa's fast, easy and secure payments network, our shoppers will be able to make purchases with an ease of mind, while our sellers can reach new customers and unlock tangible business growth through exclusive incentives and promotions. This reflects our efforts to elevate the online shopping experience, and we will continue to explore new ways to better serve our users,” said Tran Tuan Anh, managing director, Shopee Vietnam.
Meanwhile, Now has seen rapid growth in recent years, onboarding over 70,000 sellers and covering 16 cities with population over 30 million. The platform will be offering a VND20,000 (87 US cent) promotion code for transactions exceeding VND100,000 ($4.35) for existing merchants, and 20 discount e-vouchers worth VND20,000 (87 US cent) each for newly onboarded merchants on NowFood.Dang Hoang Minh, founder and CEO of Foody Corporation, said: “Throughout the pandemic, Now has been offering safe ways for customers to continue to enjoy their favourite food outlets, which in turn has enabled restaurants and food outlets to survive in challenging times. As consumers continue to utilise modern technology for their everyday needs moving forward, we’re happy to be working with Visa to make onboarding more attractive for small businesses.”
“By going online, SMEs can expand their customer base not only to consumers in their city, region, or country but they will join a global marketplace that can be accessed by the millions of Visa cardholders around the globe,” said Dung.