Digitize Real Estate, Retail, Consumer and One Mount’s Billion Dollar Goals

Changing “traditional” habits

For more than a decade of receiving a “hereditary” grocery store in Thanh Cong collective area (Hanoi), Mr. Nguyen Hai Thanh (39 years old) has never thought of changing the way of manual operation from selling groceries, until the plague hit.

“Even in the middle of the epidemic season, the shop can live well with many regular customers, but the supply is interrupted, unable to import goods for sale.“, Thanh said that he even had to close because of lack of goods, before finding a new direction.

“Technology can solve the biggest inadequacies in operating a grocery store, which is the source of goods and capital, with just one mobile application.”, Mr. Thanh considers “going up to technology” with VinShop as a turning point for his family’s grocery store.

Thanks to technology from VinShop, the traditional retail model has reached more than 4,000 items on the application. Even during a time of supply disruption due to the epidemic, grocery owners only need to operate on their phones to order and receive goods at home; as well as access to up to 40 days interest-free capital advances.

Just over a year into the market, VinShop has become a “companion” on the way of getting richer for more than 100,000 grocery stores like Mr. Thanh thanks to its outstanding advantages.

The turning point from VinShop in the traditional retail market shows that technology platforms are creeping into all areas of life and changing the consumption habits of tens of millions of people in Vietnam. Even in other areas such as real estate trading, the development of proptech (real estate technology platform) is also gradually overcoming the weakness of the market.

In particular, OneHousing is a pioneer proptech using technology and big data to value millions of homes automatically – backed by the banking system – thereby promoting the transparency of the second real estate market. grant.

In addition, the superiority of a loyal customer base like VinID also helps customers have a smarter, more convenient and economical consumption experience than before. With just a few taps on the app, users can easily shop online, buy tickets, pay bills, manage expenses, or even donate to community projects.

“We decided to cooperate with VinID because it is a platform with a large number of users, with outstanding technology, which can help deploy charity programs quickly and transparently.“, a representative of the Hanoi Youth Union said that with this application, it brought more than 5,000 “sharing gift baskets” from VinID users to difficult situations in the epidemic center of Ho Chi Minh City at the end of July 2021, only after briefly launched.

VinID, VinShop, and OneHousing are typical products of One Mount – a company invested by Vingroup and a strategic partner Techcombank, which is recording strong growth and is expected to become a new “unicorn” in Vietnam. Vietnam.

Aim to serve 75% of Vietnamese households

One Mount’s technology ecosystem provides solutions and services throughout the value chain, from financial services – distribution – real estate – retail, contributing to changing traditional consumption habits. of Vietnamese people in the direction of modernization, eliminating manual processes, opening a new direction to improve economic efficiency. By 2025, One Mount aims to serve 75% of Vietnamese households – a huge ambition, but experts appreciate it as well-founded.

Economist Dr. Bui Trong Phat, Institute of Urban Economic Development and Consulting, said that digital technology is being seen as an important key to help people, businesses and the economy adapt and thrive, especially in the context of an epidemic.

“Vietnam’s digital economy is experiencing double-digit growth with a total market value expected to reach 57 billion USD by 2025. The new post-COVID-19 context is a time of favorable weather, favorable conditions, and harmony for successful companies. Technology companies like One Mount accelerate, assert their leading role‘, said the expert.

For example, the retail market is up to 36 billion USD (2021), the traditional retail market share (grocery systems, markets) that VinShop is targeting still accounts for 70% of the market share, Mr. Phat said.

“Over 1.4 million groceries in Vietnam is a fertile market that VinShop can approach and capture thanks to its technological and financial capabilities.“, said Dr. Phat.

Experts also expect that OneHousing’s participation with many breakthrough technology solutions is at the forefront of the potential proptech market in Vietnam. An expert perspective also points out that proptech will develop strongly in the next 5 years – like what fintech (financial technology – including VinID Pay) has done in the past years.

In particular, by changing the capital contribution ratio structure at One Mount, Vingroup continues to participate as a strategic partner and investor in the vision of building a large technology ecosystem. The most reliable and most reliable for Vietnamese businesses and customers of One Mount. At the same time, this restructuring also allows the One Mount ecosystem to expand to more partners and businesses, thereby bringing the best values ​​to Vietnamese consumers.