E-commerce in Vietnam - Statistics & Facts

The internet economy in Southeast Asia was predicted to nearly triple its market value in the next few years, with e-commerce as the second-largest market after online travel. Within Southeast Asia, Vietnam's e-commerce market value reached around eight billion U.S. dollars in 2018, ranking it only after Indonesia, Thailand and Singapore. In Vietnam, the present digital population as well as increasing number of internet users and rising internet penetration indicate good conditions for growing e-commerce business. This is underlined by a steady increase of the e-commerce share of total retail sales as well as the growing market value of e-commerce logistics in Vietnam. In terms of growth, the online channel has surpassed modern retail channels such as minimarkets, specialty stores and supermarkets for FMCG.

Lazada, which is owned by e-commerce giant Alibaba, as well as Singaporean brand Shopee have entered the e-commerce market in Vietnam, establishing a leading position. This might have driven the competition within the country. Among the newly registered e-commerce sites in Vietnam, e-marketplaces account for the highest number. Popular domestic B2C e-commerce sites in Vietnam are Tiki and The Gioi Di Dong. Notably, the number of monthly web visits on Lazada declined while Tiki registered an increase of monthly web visits in the second quarter of 2018.

According to online consumers in Vietnam, the most popular items are clothing, cosmetics, electronics and home appliances that have a good quality and a reasonable price; factors that reflect the popularity of above-mentioned e-commerce sites. With regards to payment methods, Vietnamese consumers prefer to pay cash on delivery or via bank transfer that are likely the most secure methods for the consumers as many consumers also stated concerns about data security as an obstacle not to purchase goods online.

Besides online shopping via desktop, mobile commerce as a form of e-commerce has also gained popularity. Figures show that Asians are among the most avid mobile shoppers globally. In Southeast Asia, smartphones account for the largest share as an electronic device for shopping for both browsing and buying products online. In Vietnam, about 97 percent of the adult population are using a smartphone. Figures also show that consumers prefer to use smartphone browsers to shop online; a preference which has also increased in the last years.



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E-commerce in Vietnam

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