#electroniccommerce

TikTok recently announced that they have already invested around Usd 5 billion in Vietnam in the last seven Years, or since 2019. This means an average of around Usd 714 million per Year in Terms of Investments.

They said that Vietnamese average around 100 million hours watching Videos on the Platform daily, and that there are now six million Vietnamese Content Creators in the Platform.

In Terms of the TikTok Shop, there are now half a million Sellers and another half a million Advertisers there, and up to three billion Electronic Commerce (E-Commerce) Orders are being processed in Vietnam per Year.

Because of that, the Shop is now the second biggest E-Commerce Platform there with a Market Share of 41%, just behind Shopee which is Number One with a 46% Market Share.

As a Result of these, TikTok is now planning to officially open up a local Company in Vietnam which will improve Data Management, simplify Procedures of Data Submission and improve collaboration with Local Authorities.

Trust is important. Customers are more likely to purchase items (such as food) from a retailer he/she trusts. In the area of online reviews, users are more likely to act on a recommendation from a review he/she trusts (thinks is fair and balanced rather than one-sided, is from a recognized expert, provides pictures, and so on).

In web retailing / electronic commerce, customers are more likely to trust a retailer that has more security features. Security is a big issue. If the customer suspects that his/her information could be compromised during transmission or when in the possession of the retailer, then he/she is less likely to purchase items.

I found research that showed the quality of the user interface of a website also impacts trust in web retailing. The research found there is a strong relationship between interface quality and trust. Here is the paper:

The impact of interface usability on trust in Web retailers By: Marie Christine Roy, Olivier Dewit, Benoit A. Aubert https://www.emerald.com/insight/content/doi/10.1108/10662240110410165/full/html