Consumer Discretionary

<h2 style="text-align: justify;"><span style="font-size: 12pt;">Q1. Could you start by giving us a brief overview of your professional background, particularly focusing on your expertise in the industry?</span></h2><p style="text-align: justify;">I'm currently working in e-commerce consulting, with deep experience supporting brands and merchants across Southeast Asia, particularly Vietnam.</p><p style="text-align: justify;">My background spans store operations, digital marketing, livestream production, and platform advertising. Through my role at KakaOnline, I&rsquo;ve helped numerous clients optimize their performance on platforms like Shopee, Lazada, and TikTok Shop.</p><p style="text-align: justify;">I also provide strategic guidance on market entry, localization, and user acquisition, particularly in areas like gamification and social commerce.</p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">Q2. How are emerging segments like social commerce and cross-border e-commerce expected to evolve in the coming years?</span></h2><p style="text-align: justify;">Both segments are poised for rapid growth in Vietnam and the broader Southeast Asian market. Social commerce is increasingly integrated with live streaming, short-form video, and influencer-driven campaigns. Platforms like TikTok Shop and Facebook are blurring the lines between entertainment and shopping, enabling instant conversion.</p><p style="text-align: justify;">Cross-border e-commerce will accelerate as logistics infrastructure improves, and free trade agreements are established. Chinese, Korean, and Japanese brands continue to expand aggressively, while local platforms are enhancing translation, fulfilment, and payment services to support overseas sellers.</p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">Q3. Who are the dominant players in Vietnam's e-commerce market, and what market share do they hold?</span></h2><p style="text-align: justify;">As of 2024, the leading players are:</p><p style="text-align: justify;"><strong>Shopee</strong>: Estimated to hold over 65% market share in terms of traffic and order volume.</p><p style="text-align: justify;"><strong>TikTok Shop</strong>: Rapidly gaining share (~30%) in social commerce, particularly among Gen Z and FMCG categories.</p><p style="text-align: justify;"><strong>LZD</strong>: 2-3%</p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">Q4. What role does technology play in the growth of B2B e-commerce in Vietnam? Are there specific technologies that are proving essential (e.g., cloud computing, big data analytics, AI)?</span></h2><p style="text-align: justify;">Technology is critical to unlocking efficiency, scalability, and trust in B2B commerce. The most impactful technologies include:</p><ul style="text-align: justify;"><li>Cloud computing</li><li>Big data analytics</li><li>AI and automation</li></ul><p style="text-align: justify;">Adoption is still in its early stages, but sectors such as manufacturing, agri-products, and wholesale distribution are seeing strong momentum.</p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">Q5. What are the key purchasing criteria for buyers on B2B e-commerce platforms in Vietnam? How do these criteria differ from those in B2C transactions?</span></h2><p style="text-align: justify;">Key B2B criteria include:</p><ul style="text-align: justify;"><li>Price transparency and discounts</li><li>Credit terms and invoice support</li><li>Reliable fulfillment and post-sale service</li><li>Certifications and compliance (especially in food, medical, and industrial categories)</li></ul><p style="text-align: justify;">Unlike B2C buyers, who are influenced by emotion, branding, and instant gratification, B2B buyers prioritize trust, consistency, and cost efficiency. The sales cycle is also longer, often involving procurement teams or multiple decision-makers.</p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">Q6. How are e-commerce businesses in Vietnam innovating in terms of product offerings and customer experience?</span></h2><p style="text-align: justify;">Innovation is happening across several fronts:</p><ul style="text-align: justify;"><li>Live streaming and gamification</li><li>Customization and bundling</li><li>Logistics enhancements</li><li>Customer service automation</li></ul><p style="text-align: justify;">The most successful brands are those that treat digital as a two-way interaction &mdash; not just a transaction point.</p><p style="text-align: justify;">&nbsp;</p><h2 style="text-align: justify;"><span style="font-size: 12pt;">Q7. If you were an investor looking at companies within the space, what critical question would you pose to their senior management?</span></h2><p style="text-align: justify;">With rising CAC (Customer Acquisition Cost) and lower platform loyalty, companies need a sustainable edge, whether it's through community building, exclusive partnerships, proprietary data, or ecosystem integration.</p><p style="text-align: justify;">Long-term success depends on retention and margin control, not just top-line GMV growth.&nbsp;</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p><p style="text-align: justify;">&nbsp;</p>