(Source: Inside Retail Asia| 25 October 2016)
Korean retailer Lotte is entering the Vietnam eCommerce market with Lotte.vn after six months’ preparation.
By launching its first online shopping website on October 28, the Korean retailer is expecting to acquire 20 per cent of the online market. And it sees Lotte.vn as completing the full spectrum of retail services: physical stores, TV shopping, mobile shopping and now online.
Despite joining the market a little later than other eCommerce sites such as adayroi.com and tiki.vn, Lotte.vn has some advantages such as its products being available – and sourceable – from its local Lotte Department Stores.
According to Lotte.vn GM Seo Tae Ho, all products from the department store will be sold online, with cosmetics and apparel expected to be the two most popular categories.
Furthermore, Lotte is planning to encourage more purchasing by developing a shopping app for Android and iOS.
Vietnam is still seen to be a leader in the Southeast Asian eCommerce market in the next five years along with Indonesia.