E-commerce sales in Vietnam are likely to surpass the US$30 billion mark by the end of 2024 thanks to local growing consumer trends that help drive up online sales via e-platforms, said delegates at a meeting in Ho Chi Minh City on July 29.

Instead of setting floor levels, it would be better to let supply and demand determine e-commerce shipping fees, experts say.

The growth and development of e-commerce has created opportunities, but also challenges in state management, especially in building a healthy business environment, contributing to promoting the economy.

While Shopee reported a market share increase from 63 percent to 69 percent, Tiki maintained a modest figure of one percent.

Vietnam E-commerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade (MoIT) said that the number of e-commerce websites and applications confirmed by the ministry increased significantly from 2019 to 2021.

This is to assist the parties to the transaction using protected online payments.

MSMEs in Vietnam are poised to reap significant benefits from the rapid growth of the e-commerce sector.

Free shipping is the factor that has the strongest impact on Vietnamese users’ buying goods online.

Vietnam’s e-commerce market is predicted to expand 25 percent, with the market scale projected to increase to US$20 billion by the end of this year, according to the Vietnam E-Business Index (EBI) 2023 rankings.

An increase in online sales has put pressure on the logistics system, thereby triggering the race to invest in Vietnam's e-commerce logistics, according to insiders.

 Business-to-customer (B2C) e-commerce in Viet Nam garnered a total revenue of US$2.97 billion in 2014, accounting for 2.12 per cent of the country's gross retail sales of goods.