Vietnam’s B2C e-commerce revenue rose by 25 percent to 10.08 billion USD in 2019, according to the e-Commerce White Book 2020 released by the Ministry of Industry and Trade (MoIT)’s e-Commerce and Digital Economy Agency (iDEA).
The number of online shoppers grew about 1.12 percent year-on-year to 44.8 million people last year from 39.9 million people in the previous year, says the book. Average spending for online shopping was 225 USD per person, 23 USD higher than in 2018.
Head of the iDEA Dang Hoang Hai said 2019 saw a big change of Vietnam’s e-commerce sector when the country was implementing the government’s master plan for e-commerce development between 2016 and 2020.
He noted that e-commerce has smoothed the way for the flow of goods and services and supported firms, especially small- and medium-sized enterprises, in seeking business opportunities in the era of international integration and the Fourth Industrial Revolution.
The book provides readers with an overall picture of Vietnam’s e-commerce industry from legal environment, logistics infrastructure, payment to use of e-commerce among businesses, exporters and people.
Vietnam has set a target that the e-commerce industry would grow by 25 percent per year to 35 billion USD with more than half of the population shopping online by the end of 2025.
According to the e-Commerce White Book 2019, e-commerce revenue jumped 30 percent from 6.2 billion USD in 2017 to 8.06 billion USD in 2018.
The size of the local e-commerce market was expected to reach 13 billion USD this year.
The e-Conomy SEA 2019 report by Google and Temasek predicted that e-commerce in Vietnam would expand 43 percent per year in the 2015-25 period, making it the fastest growing e-commerce market in the region.
Vietnam is now the second fastest growing e-commerce market in Southeast Asia, after Indonesia./.VNA
“Covid-19 has given e-commerce a push,” said Nguyen Thuy Anh from the Department of E-commerce and Digital Economy.
After Tiki and Sendo complete their merger, the e-commerce market will be controlled by three big players – Tiki-Sendo, Lazada and Shopee.