In recent years, Vietnam has witnessed a significant surge in live commerce activities, driven by the country's rapidly growing internet penetration, smartphone adoption, and a tech-savvy young population. As traditional e-commerce continues to evolve, Vietnam live commerce has stepped in to bridge the gap between online and offline shopping experiences.
The rise of live commerce in Vietnam is not just a passing trend but a fundamental shift in how businesses connect with customers. In this article, we will offer an overview of live commerce in Vietnam, including its current state, impact on businesses, and future outlook, serving as a valuable resource for Vietnamese businesses.
Live commerce is the fusion of live streaming and e-commerce that has emerged as a game-changing trend in Vietnam's digital economy. This innovative approach to online shopping allows businesses to showcase and sell products in real-time through live video broadcasts, creating an interactive and engaging shopping experience for consumers.
Live commerce in Vietnam traces its roots to the country's long-standing tradition of social commerce. The concept evolved from informal buying and selling activities on social media platforms, particularly Facebook, which has dominated Vietnam's social media landscape.
The official introduction of live commerce features by major e-commerce platforms around 2019 marked a turning point, formalizing and accelerating the trend. Since then, Vietnam has quickly caught up with regional leaders like China in adopting and innovating within the live commerce space.
The live commerce market in Vietnam has experienced exponential growth in recent years. Why's that? The numbers can speak for themselves: Over 60% reported making purchases through livestream shopping events, and over 75% expressed interest in live commerce.
For customers in Vietnam, here are the main platforms that support Vietnam live commerce:
>> Learn more: Top 16 Vietnam Ecommerce Sites in 2023
Compared to global trends, Vietnam's live commerce scene shares similarities with other Asian markets, particularly in its rapid adoption and integration with social media platforms. However, it differs in its heavy reliance on influencer marketing and the prevalence of mobile-first consumers, which has shaped unique strategies and content formats tailored to the Vietnamese market.
Vietnam live commerce is just awesome at boosting sales. Sellers can chat with buyers in real time, helping them with any questions or concerns right away, which speeds up the decision-making process. Plus, the limited-time offers and easy payment options create a sense of urgency that nudges people to make quick purchases, resulting in more sales.
Live commerce not only boosts sales but also encourages greater consumer interaction. Live chats and polls make it feel like a community event, and personalized recommendations really make it feel like they understand your style. Plus, exclusive behind-the-scenes content gives you an insider's look at how products are created.
Also, live commerce is a great way to boost brand recognition. Regular live streams help keep your brand in front of people, and the interactive nature of live content makes it more likely to spread and reach more people.
The openness of real-time interactions also helps build trust and credibility, making brands feel more human and forming stronger connections with customers.
One of the great things about live commerce is that it's cost-effective. It allows for a more focused and measurable approach than traditional methods, so you can easily measure the return on investment and make the most of your advertising budget.
Live commerce gives businesses valuable data-driven insights. By providing real-time analytics on viewer engagement and purchase behavior, it offers a wealth of information to help businesses improve product development, marketing strategies, and inventory management decisions.
We all understand how important it is to provide excellent customer service. Live commerce is great for providing instant issue resolution and product education. It's all about addressing concerns and boosting confidence in purchasing decisions, which is key to keeping customers happy and satisfied.
Live commerce provides amazing accessibility and convenience. Its mobile-first experience is perfect for Vietnamese consumers and reaches out to remote consumers with limited access to physical stores.
Several key trends shape how consumers engage with and purchase products through this rapidly growing platform. The diagram below visually summarizes these interconnected trends, highlighting their importance in shaping the Vietnam’s live commerce landscape.
Firstly, popular product categories span a wide range:
Next, data reveals crucial insights into consumer preferences. Over 90% of viewers access live streams via smartphones, emphasizing the dominance of the mobile-first trend. This preference extends to content format, with shorter, more frequent sessions (30-60 minutes) proving more engaging than extended broadcasts.
Importantly, Vietnamese consumers firmly trust influencer-led live commerce events, often favoring them over brand-hosted streams. Finally, value-seeking behavior is evident, with exclusive discounts and promotions as primary motivators for participation.
These trends directly influence the prevalence of impulse buying during live streams. Limited-time offers capitalize on the fear of missing out (FOMO), driving quick purchase decisions. Social proof, witnessing other viewers making purchases in real-time, further contributes to this impulsive behavior.
Live commerce is rapidly gaining traction in Vietnam that offers businesses a powerful avenue to connect with consumers and drive sales. However, navigating this dynamic landscape requires careful planning and execution.
Here's a comprehensive guide to help you get started with live commerce in Vietnam
Your choice of platform is crucial for reaching your target audience for Vietnam live commerce. You can assess popular options like Facebook Live, TikTok Live, Shopee Live, and Lazada LazLive, considering your product category and target demographics.
Tip for 2024: Explore emerging platforms offering AR/VR capabilities for immersive shopping experiences.
We all know the importance of creating an engaging and professional livestream for your audience. To make sure your audience has a great experience, it's important to have a reliable internet connection, preferably 5G where available.
Additionally, you should consider investing in high-quality cameras, microphones, and lighting equipment to improve the visual and audio quality of your streams.
Don't forget that planning is essential for connecting with your audience. It's crucial to develop a content strategy that includes a mix of product showcases, behind-the-scenes content, and educational segments. What’s more, creating a consistent streaming schedule can help build anticipation and nurture a loyal following.
Trend for 2024: Utilize short-form video teasers on platforms like TikTok to drive traffic to your live streams.
Creating a dedicated team with specific roles is important. You'll need a charismatic host, an engaging moderator, reliable technical support, and responsive customer service.
It's also crucial to consider working with influencers or Key Opinion Leaders (KOLs) in your niche to expand your reach and build credibility. Collaborating with KOLs for dedicated live streams can help you use their existing audience and influence to promote your products authentically.
2024 Insight: Explore AI-powered chatbots to assist with customer queries during high-volume streams.
It's important to ensure that your live streaming platform seamlessly integrates with your e-commerce system to create a smooth purchase process for your customers. It's also crucial to optimize the checkout process for mobile devices, considering that most Vietnamese consumers prefer to shop via smartphones.
Additionally, integrating a reliable e-commerce logistics solution is essential to ensure efficient order fulfillment, prompt delivery, and a positive customer experience.
👉 Relevant reading: E-Commerce Logistics Vietnam Overview
Live commerce in Vietnam is experiencing rapid growth and is poised for a promising future. Vietnam is emerging as a key player in Southeast Asia, alongside countries like Indonesia and Thailand, witnessing significant engagement in live shopping streams. Drawing parallels with China, where live commerce could contribute 10-20% of all e-commerce sales by 2026, Vietnam's potential for growth is undeniable.
What should businesses like yours prepare for in Vietnam live commerce in the future? Let's explore the innovations that are shaping the future of live commerce that your customers will love:
>> Learn more: Vietnam Retail Industry: Potential and Fact
What is the difference between live commerce and traditional e-commerce?
Traditional e-commerce involves static online shopping, while live commerce offers dynamic, interactive shopping with live product demos, real-time Q&A, and interaction with sellers and viewers for a more engaging and personalized experience, leading to higher conversions and increased customer loyalty.
How can small businesses benefit from live commerce?
Live commerce benefits for small businesses:
What are the most effective platforms for live commerce in Vietnam?
Several platforms have emerged as popular choices for live commerce in Vietnam, each catering to different audiences and product categories:
How does live commerce impact consumer purchasing behavior?
Live commerce influences consumer purchasing behavior in several ways:
Is live commerce more effective than traditional online sales?
Live commerce is more effective than traditional online sales because it's interactive and engaging. Studies show that it leads to higher conversion rates, increased order values, and better customer engagement. However, its effectiveness depends on content quality, platform choice, and target audience.
In the future, Vietnam live commerce is set for growth and innovation. New technologies, changing regulations, and evolving consumer behaviors will bring challenges and opportunities.
To thrive in Vietnam's competitive live commerce market, brands must prioritize engaging content, effective influencer partnerships, and staying updated with technology and consumer preferences. Success in this space will allow businesses to capture a significant share of Vietnam's growing digital marketplace.
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