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Vietnam’s e-commerce is projected to continue booming in 2023 and developing firmly in the following years, aided by a series of growth drivers such as the wave of digital transformation, consumers’ trust, technological infrastructure, and favourable mechanisms and policies issued by the Government.
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<h4 style="text-align:justify">Vietnam’s e-commerce is projected to continue booming in 2023 and developing firmly in the following years, aided by a series of growth drivers such as the wave of digital transformation, consumers’ trust, technological infrastructure, and favourable mechanisms and policies issued by the Government.</h4> <p style="text-align:justify"><img alt="vietnam s e-commerce forecast to continue booming in 2023 picture 1" src="https://media.vov.vn/sites/default/files/styles/large/public/2023-02/vietnams_ecommerce_forecast_to_continue_booming.jpg" title="vietnam s e-commerce forecast to continue booming in 2023 picture 1" /></p> <p style="text-align:justify">Boasting some 100 cross-border e-commerce platforms, Vietnam has been ranked among the top five nations with regard to the sector’s growth of 20% a year by eMarketer. Last year, the country’s top four platforms – Shopee, Lazada, Tiki, and Sendo – generated VND135 trillion (US$5.73 billion) in revenues.<br /> <br /> Meanwhile, the scale of the country’s retail e-commerce market was estimated to reach US$16.4 billion last year, accounting for 7.5% of the country’s goods and service revenues. There were approximately 57-60 million Vietnamese people shopping online, with their spending averaging US$260-285.<br /> <br /> According to the White Book on Vietnamese E-Business 2022, up to 74.8% of Vietnamese internet users purchased goods and services online, with the most consumed commodities named apparel and cosmetics, household items, and technological and electronic devices.<br /> <br /> Nguyen Thanh Hung from the Vietnam E-commerce Association (VECOM) assessed that the market sees extensive room for growth as it obtained significant attention from the Government for related institutions, policies, human resources training, and cashless payments.<br /> <br /> Nguyen Thi Minh Huyen, deputy director of the Vietnam E-commerce and Digital Economy Agency, said the Government targets pushing the rate of e-commerce in the country’s total retail to over 20%. The local retail market is now worth some US$250 billion.<br /> <br /> Tran Trong Tuyen, general director of Sapo Technology JSC, highlighted advantages of the Vietnamese market such as foreign capital inflows, domestic technology development, and a comprehensive and convenient e-commerce ecosystem, among others. He also forecast a quick and firm growth for the sector in the time to come.</p> <p style="text-align:justify">https://english.vov.vn/</p>
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