Korean retailer Lotte is all set to endeavour into the Vietnam eCommerce market with Lotte.vn.
The brand had been doing the groundwork for more than half a month before debuting into the online market. By launching its first online shopping website late this week, the Korean retailer is expecting to acquire 20 per cent of the online market share.
The brand sees Lotte.vn as carrying out the full continuum of retail services — physical stores, TV shopping, mobile shopping and now online.
Though Lotte.vn has been joining the league of the eCommerce sites market a little later than other players such as adayroi.com and tiki.vn, but the company has some advantages in its support. One of the major supports is the availability of its products. It will be easy for the company to source the ordered products from its local Lotte Department Stores.
As per the company spokesperson all the products on the website will be in synchronization as per the stock in the department store. Or in other words, all the products in the store will be sold online. The company expects that cosmetics and apparels are going to be the two most popular categories amidst the wide range of product basket.
Vietnam is considered to be one of the leaders in the Southeast Asian eCommerce markets and it is believed that it will retain the space in the next five years along with Indonesia.
Lotte is also planning to develop a shopping app for Android and iOS which will further encourage more consumers to purchase from at Lotte.