Technologization and modernization challenge of the traditional market in Vietnam

Abstract

The thesis aimed to give readers a perspective of Vietnamese traditional markets, including both the long-standing cultural characteristics and challenges that these markets were now experiencing as a result of the over three-year decline in business. Furthermore, the thesis strived to find out the primary causes of this decline, along with analysing new consumer demands and available resources that small traders can leverage to recover the business.

Data collection for the thesis was done using both qualitative and quantitative methodologies. On the consumer side, survey questionnaires were distributed to better identify current customer needs while also upcoming consumer trends. At the same time, the thesis conducted interviews with small trades operating in traditional markets to have a better understanding of the challenges that small businesses are facing. All information and data gathered will be utilized to further assess the problems of present traditional markets in view of new challenges such as technological advancement application, the explosion of contemporary markets, and other pertinent aspects.

The thesis's results can be utilized to recommend that small trades make changes to adapt to the new circumstances, in addition to proposing that the government conduct policies to support small businesses to sustain and develop a key sector in Vietnam's economy.