In the first half of 2024, Vietnamese consumers spent a staggering VND143.9 trillion ($6 billion) on online shopping, highlighting the explosive growth of the country’s e-commerce sector.

In an era of e-commerce and online shopping, traditional fashion shops are in danger of closing as rent is rising while the number of clients is decreasing.

Selling fresh fruit and agricultural products through live streaming, a trend that has exploded in the Chinese market recently, will likely boom in Viet Nam as well, trade experts have forecast.

Consumers were increasingly attaching importance to sustainability over time, said Dang Thuy Ha, northern director of NielsenIQ Viet Nam, at an event in Hanoi on Wednesday.

Vietnamese have had to cut their spending amid difficulties globally, but 96 percent of consumers surveyed by PricewaterhouseCoopers (PwC) said they are willing to spend more money on products from reputable companies with strong business ethics.

According to Vietnam E-Business White Paper 2022, the online marketplace is an important distribution channel in the digital era.

Vietnamese purchases of goods online and the value of online orders both increased significantly in 2022, according to market analysis firms.

E-commerce platforms are seeking warehouses to store goods to prepare for the year-end sales season.

For Vietnam, in 2021, revenue from the internet-based economy was $21 billion, estimated to rise to $57 billion by 2025, up about 271%.

Possessing an average growth rate of 20 per cent per year, the e-commerce retail market is now not only a private land of e-commerce platforms but also a common game of tech solutions providers such as fintech.

Vietnam’s overall online retail sales hit US$13.7 billion in 2021, up US$1.9 billion over 2020, according to the Vietnam E-commerce White Book 2022 released by the Vietnam e-Commerce and Digital Economy Agency.

As consumption habits have changed during the Covid-19 pandemic, the fashion industry is gradually expanding into online business.

Along with the popularity of online shopping in Vietnam come several cunning tricks of criminals to steal money from consumers. 

E-commerce in Vietnam is estimated to grow by 53% in 2021, creating an impetus for the domestic digital economy to reach revenue of US$21 billion this year, according to a report released recently by Google, Temasek and Bain & Company.

 Online shopping in Vietnam is expected to increase sharply near the end of the year. 

According to a report by iPrice, grocery prices in Vietnam are among the cheapest in Southeast Asia after comparing prices for groceries in Southeast Asia from Numbeo.

Instead of going directly to the market to buy votive paper for the Ghost Festival, which falls on the full moon day of the 7th lunar month, many families are buying products online.

Many HCM City businesses, even small traders in traditional markets who are not usually thought to be tech-savvy, have been focusing on selling online and networking to survive, or even thriving, amidst the ongoing COVID-19 pandemic.

Vietnamese businesses need to prepare and move ahead to win the e-commerce race.