Truc Ngoc prefers online Vietnamese wet markets over traditional markets for cheapest prices, discounts, and home delivery, citing convenience and return policy.

Thanh Thu and Pham Hong Hai, both 35 and 55, have become addicted to online shopping during the pandemic, citing its high-quality goods, convenience, and easy budget management. This trend is affecting many urban dwellers.

The COVID-19 pandemic has significantly impacted Vietnamese consumer behavior, with a shift from young people to the 40-60 year old group. E-commerce platforms’ revenue grew 54% in Q3 2023, reaching 63 trillion. Vietnamese consumers shop online 104 times per year, primarily for fast-moving goods.

The economy is recovering, but income declines, traditional markets are degraded, and goods are not guaranteed. Online shopping and shopping malls offer better alternatives, saving time, and providing convenient shopping areas. Online shopping saves time and allows families to enjoy holidays without the hassle of traditional markets.

Traditional markets in Vietnam are facing difficulties due to the increasing popularity of modern methods, causing a decrease in purchasing power. Many famous markets, such as Dong Xuan Market, Hang Da Market, Hom Market, An Dong Market, Xom Cui Market, and Tan Binh Market, have vacant or rented areas, causing a 60-70% decrease in purchasing power.

Traditional markets need upgrading, repair, convenience, quality, hygiene, and price listing to thrive. Customers will abandon overcharging and lack diversity, so small businesses must adapt to new shopping methods.