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Vietnamese e-commerce likely to reach US$39 billion by 2025

Vietnam’s e-commerce market has recorded strong growth over the years and is likely to bring in US$39 billion in value by 2025, according to data released by the German market research firm Statista.

A global e-commerce report unveiled by Metric.vn, a data researcher, also indicates that Vietnam has become the second largest e-commerce market in Southeast Asia, behind only Indonesia, by taking advantage of consumers’ increasing demand during the recent COVID-19 period.

The e-commerce index 2022 report released by the Vietnam E-commerce Association (VECOM) points out that as of March, 44 out of 63 provinces and localities have built and operated e-commerce floors. Most notably, up to 75% of the platforms have used the country domain name .vn, while the remaining 25% have adopted international domain names instead.

Due to the geographical preference of search engines like Google and Bing, all websites using the domain name .vn enjoy advantages of search engine optimization (SEO). The move has brought about a higher search value when users have a domestic IP address.

Last year witnessed e-commerce services expand 20% to generate over US$16 billion in revenue despite the negative impact caused by the pandemic. The growth rate is projected to be much higher this year thanks to COVID-19 pandemic containment efforts.

Since the fourth outbreak of the pandemic in the first half of last year, Vietnam has added an additional eight million new digital consumers, more than half of whom do not come from major cities.

At present, 99% of Vietnamese digital consumers intend to continue making use of online services in the future which is expected to open up bright prospects for Vietnamese e-commerce growth.

Source: VOV

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