In Vietnam, cash is king and customers are tight.
“Consumers are very money conscious – everything is about price,” said Tran Minh Phuong – CEO and Co-Founder of Chudu24, a hotel booking site.
“They can spend three hours in the office (comparing prices) and at the end save just $10.
He said internet business penetration remains very low. Of an estimated 3000 hotels, “only about 300 are active.” Consumers prefer to pay by cash and “talk with someone”.