What Should Retail Businesses Do To "Survive" In Vietnam?

2020/02/03 03:57

Strong market competition

Tran Anh, Shop & Go, FiviMart, Giant or Auchan are some of the retail brands that have disappeared from the Vietnamese market in recent times. Despite some of these brands having been in the market for a long time, having ""imposing" scale and reputation worldwide, they ultimately still can't escape the harsh reality of the retail industry in Vietnam, which often involves fierce competition and challenges to maintain relevance.

The pressure from dominant retail giants has made it difficult for many small and medium retail businesses to survive. Their shortcomings in management capabilities, technology adoption, trend adaptation, and the implementation of ERP, CRM software, CRM... have led these businesses to relinquish market share through mergers, acquisitions, or selling shares to larger enterprises.

Ms. Do Thi Thu Hang, Director of Research and Consultancy at Savills Hanoi, shared her observations on the intense competition in the Vietnamese retail market: "The success or failure of a retail business likely lies in its business strategy, as well as the integration of technology to align with modern consumer habits.".

Which technology are applicable for enterprises?

The technology continues to significantly impact the retail industry in the digital age. The era of passive selling is long gone, and retail businesses now need to proactively connect with their customers, understand their needs, and anticipate their preferences through the use of enterprise software solutions.

Kaleigh Moore, an expert at Forbes, says: "Applying technology is how retailers are striving to surpass their competitors, providing innovative solutions to the market while enhancing the customer experience through various forms".


Choosing the right enterprise software solutions is considered a crucial step. To build a comprehensive retail business model, you need the necessary software solutions that help provide customers with a consistent and seamless shopping experience. Here are some essential types of software that any retail business should try:

  • E-commerce software: this platform allows businesses to sell products and services online. With the support of e-commerce software, businesses can quickly start their online operations at a reasonable cost, and customers can easily access and purchase products anytime, anywhere.
  • Inventory control software: It allows businesses to establish and manage inventory items, customers, suppliers, and warehouses. It helps manage the purchasing process, such as order placement and import, as well as track sales, inventory levels, and stock management.
  • Point of sale software: It allows businesses to record the quantity of products sold and purchased within a specific time period. Setting up and implementing point of sale (POS) software helps businesses closely manage products, minimize losses, and efficiently meet customers' shopping and payment needs in a fast, convenient, and professional manner.

Some popular and widely used e-commerce software on a global scale include Magento, OpenCart, WordPress with WooCommerce or Jigoshop plugins. The common feature of these platforms is that they provide comprehensive support for the necessary software for retail, including the three software mentioned above.


Currently, Magento, OpenCart, and WordPress are all provided on VNG Cloud Marketplace. Customers can customize the features on your websites according to your needs. Moreover, these platforms are SEO-friendly and compatible with mobile interfaces, ensuring a seamless user experience across different devices.

  • ERP software: ERP is an abbreviation for Enterprise Resource Planning, which involves the comprehensive planning of a company's resources and the application of technology to manage its entire production and business operations. Using ERP software allows us to easily manage the activities of a business, focusing on the connection among departments such as sales, marketing, and human resources. This helps the business gain a holistic view of its operations.

Odoo is the largest ERP service provider in the world, offering a wide range up to thousands of applications. One of the main advantages of Odoo is its low investment and implementation costs. Odoo impress users with features such as cost-effectiveness, speed, and user-friendliness. It also offers scalability, feature updates, and all-in-one integration capabilities.

  • CRM software: CRM short for Customer Relationship Management, allows businesses to manage and nurture customer relationships. It primarily focuses on supporting customer service, sales support, and creating a strong connection between the business and its customers to drive revenue.

Speaking of CRM software, one cannot overlook the name SuiteCRM. It is considered the best customer relationship management software in the world, offering advantages such as being completely free, high customization capabilities, and multi-platform compatibility.

Both ERP software Odoo and CRM Suite CRM re currently available on VNG Cloud Marketplace for customers to choose from.

Which software should business choose?

Choosing an e-commerce platform for small and medium businesses can be a daunting task for many directors and business owners. Therefore, it requires attentive and accurate advice from service providers. At VNG Cloud, our sales and consulting team will always be dedicated to helping you choose the most suitable solution for your business.

Mr. Vu Minh Tri, VNG Cloud CEO, Deputy Managing Director of VNG" src="https://statics-cls.vcdn.com.vn/blog_doanh_nghiep_ban_le_phai_lam_gi_de_song_duoc_tai_viet_nam_3_2e128d3137.jpg" alt="blog-doanh-nghiep-ban-le-phai-lam-gi-de-song-duoc-tai-viet-nam-3.jpg" srcset="https://statics-cls.vcdn.com.vn/thumbnail_blog_doanh_nghiep_ban_le_phai_lam_gi_de_song_duoc_tai_viet_nam_3_2e128d3137.jpg 245w,https://statics-cls.vcdn.com.vn/small_blog_doanh_nghiep_ban_le_phai_lam_gi_de_song_duoc_tai_viet_nam_3_2e128d3137.jpg 500w," sizes="100vw" width="500px">
Mr. Vu Minh Tri, VNG Cloud CEO, Deputy Managing Director of VNG

For small and medium businesses, increasing revenue, acquiring more customers, and selling more products in a short period of time are essential goals. Therefore, choosing to use CRM software in advance will provide better support in sales and marketing activities, ultimately increasing revenue and helping the company thrive in the short term.

Afterwards, when the company has expanded, ERP software will help you reduce costs and optimize company operations as the number of employees increases and the processes between departments become more complex.