Speaking at the forum "Business Culture with New Consumer Trends," Mr. Hoang Quang Phong - Vice Chairman of VCCI emphasized: In the context of global uncertainties and unpredictable economic developments, there have been significant impacts on current consumer trends. Emerging new consumer trends and modern consumption patterns are shaping and directing production and business strategies for enterprises in the foreseeable future.

Mr. Hoang Quang Phong - Vice Chairman of VCCI

This change has been mentioned in many domestic and international reports. According to McKinsey's report at the end of 2023, alongside the global consumer trend, Vietnamese consumers tend to be more meticulous in their behaviors and consumption decisions.

As such, consumers have a higher awareness of the value of products and goods; they prefer using multi-channel commerce platforms; they are less loyal to brands; and they seek clear purposes when shopping. Additionally, green and sustainable consumption, augmented reality shopping experiences, and enhanced reality are gradually forming new trends.

Vice Chairman of VCCI further noted: Consumer trends are often influenced by various factors such as cultural, social, economic, technological, and environmental factors. Each stage, each period witnesses distinct emerging trends that shape behaviors and impact consumer decisions.

Therefore, in the current phase and in the future, in light of these significant changes, businesses and relevant departments need to monitor and deeply understand the market's desires and needs, adjust business strategies, and effectively approach the market.

Moreover, culture always serves as the goal and motivation for development. At this moment, in the phase of international economic integration and under the strong impact of the Fourth Industrial Revolution, establishing a business culture that reflects the enterprise's characteristics and embodies the cultural values of the nation is increasingly important and essential.

Business culture plays a pivotal role, helping enterprises and entrepreneurs gain competitive advantages by adapting and innovating quickly to align with modern consumer trends. In a broader sense, this contributes to enhancing the competitiveness of businesses and the economy in the international business environment.

Nearly 200 delegates participated in the forum discussing the establishment of a business culture aligned with new consumer trends for sustainable development of enterprises.

"Business culture is closely linked to production and consumption activities, encompassing consumer culture as well. These are economic values coupled with humanistic values and social significance, reshaping the landscape of the modern economy. To construct consumer culture, or more broadly, business culture that fits the market-oriented socialist economy, reflecting the national cultural values, requires specific strategies and goals," shared Mr. Hoang Quang Phong.

According to the Vice Chairman of VCCI, the forum "Business Culture with New Consumer Trends" is part of a meaningful series of activities organized by VCCI to realize the Party's viewpoints and directives on building Vietnam's business culture, particularly implementing Resolution No. 41 of the Politburo, 13th term, regarding the construction and enhancement of the role of Vietnam's business community in the new era. This forum also continues several practical activities previously initiated by VCCI, such as the announcement and implementation of the 6 Code of Ethics for Vietnamese Entrepreneurs on the occasion of President Ho Chi Minh's birthday on May 19, 2022, and the launch of the "Vietnamese Entrepreneurial Spirit" traditional song competition in 2023.

Starting from 2024, VCCI officially launched the project "Promoting the Establishment of Vietnam's Business Culture to contribute to achieving the goal of making Vietnam a developed country by 2045."