The explosive growth of e-commerce has made Vietnam one of the most potential markets in the ASEAN region.
One of the outstanding events that made a mark of success of the Industry and Trade sector in 2019 reported at the Conference on the Industry Review 2019 and Discussion of 2020 Plan is the breakthrough growth of e-commerce.
The report of the Ministry of Industry and Trade shows that in 2019, the breakthrough growth of e-commerce makes Vietnam become one of the most potential markets in the ASEAN region.
Vietnam is currently considered as one of the fastest growing e-commerce markets in Southeast Asia with an average annual growth rate of more than 25% in the current period and is forecasted to reach 13 billion USD by 2020.
Revenue from e-commerce activities increasingly accounts for a high proportion in total revenue of retail and consumer services (approximately 4% and is growing fast).
According to the “Southeast Asia Internet Economy in 2018” Report by Google - Temasek, Vietnam’s e-commerce growth in the period 2015 - 2025 is forecasted at 43%, making Vietnam a country with the fastest growing e-commerce in the region.
Ministry of Industry and Trade has been promoting trade promotion, cross-border e-commerce application with understanding and connecting with Amazon Global Selling with Amazon’s global sales program to increase trade promotion and export via e-commerce platform, through which many businesses have been supported to export goods through the Amazon e-commerce platform.
Mr. Dang Hoang Hai, Director of the Department of E-Commerce and Digital Economy, confirmed that reaching 300 million customers on Amazon is a great opportunity for Vietnamese businesses, creating a new turning point for Vietnamese businesses to look for new markets and customers around the world.
In 2018, the value of Vietnam's e-commerce market reached about 8 billion USD, an increase of more than 30% compared to 2017. Revenue from online business increased sharply thanks to the excitement of the applied economy, estimated to 6.4 billion USD. Experts rank this business within e-commerce, selling services and goods through application channels such as Facebook, Grab, Zalo, Go-Viet…
According to the latest report of Nielsen Vietnam, internet usage rate is 85% of the Vietnamese population, exceeding the regional average. On average, consumers spend nearly 7 hours a day online, being among the highest in the Asia-Pacific region. Percentage of smartphone ownership of urban consumers is more than 90% and this figure in rural areas is also more than 50%.