HCM City (VNA) – E-commerce has rocketed in Vietnam over the past five years,with online retail sales expanding 20 percent annually, according to theDepartment of E-commerce and Digital Economy under the Ministry of Industry andTrade.
Le Thi Ha, head of the department’spolicy office, said Vietnam’se-commerce retail sales had reached 6.2 billion USD as of late 2017, withe-commerce accounting for about 3.6 percent of the country’s total consumerrevenue.
The Vietnamese e-commercemarket is expected to hit 10 billion USD by 2020, meaning each person will spend about 350 USD on online shopping per year,she said.
Infographics: VNA
E-commerce in Vietnam hasbeen seen as one of the fastest-growing markets in SoutheastAsia, with transactions conducted not only via websites, but also throughshopping applications on mobile phones and e-commerce platforms. Meanwhile, thenumber of Vietnamese smartphone users is also on the rise.
Statistics show thatconsumers shopping on mobile phones increased from 6 percent in 2013 to 41percent in 2017, and websites with mobile phone versions also rose from 15percent in 2013 to 72 percent last year.
E-commerce has become anoption for both urban and rural residents.
However, the scale ofe-commerce transactions has remained small in comparison with other countriesand the value is still low in relation to regional and global averages,according to Nguyen Thanh Hung, President of the Vietnam E-CommerceAssociation.
He pointed out that with apopulation of 90 million and a high rate of young Internet users, Vietnam holdsgreat potential to develop its e-commerce market in the time ahead.
Furthermore, e-commerce inrural areas should be a target for major businesses, he said, noting thatcross-border e-commerce has also opened up opportunities for Vietnameseproducts and services to further their reach around the world.
However, the rapid growth ofe-commerce in Vietnamhas posed challenges to State management work and caused a range of issuesduring transactions. As such, experts have suggested changes in management inorder to help e-commerce develop healthily, benefiting both businesses and thecommunity.
Ha underlined the need toreview policy infrastructure on e-commerce and amend the 2005 Commerce Law tosupplement framework regulations on e-commerce, including operationalregulations and the rights and obligations of stakeholders in the industry. –VNA
Le Thi Ha, head of the department’spolicy office, said Vietnam’se-commerce retail sales had reached 6.2 billion USD as of late 2017, withe-commerce accounting for about 3.6 percent of the country’s total consumerrevenue.
The Vietnamese e-commercemarket is expected to hit 10 billion USD by 2020, meaning each person will spend about 350 USD on online shopping per year,she said.
Infographics: VNA E-commerce in Vietnam hasbeen seen as one of the fastest-growing markets in SoutheastAsia, with transactions conducted not only via websites, but also throughshopping applications on mobile phones and e-commerce platforms. Meanwhile, thenumber of Vietnamese smartphone users is also on the rise.
Statistics show thatconsumers shopping on mobile phones increased from 6 percent in 2013 to 41percent in 2017, and websites with mobile phone versions also rose from 15percent in 2013 to 72 percent last year.
E-commerce has become anoption for both urban and rural residents.
However, the scale ofe-commerce transactions has remained small in comparison with other countriesand the value is still low in relation to regional and global averages,according to Nguyen Thanh Hung, President of the Vietnam E-CommerceAssociation.
He pointed out that with apopulation of 90 million and a high rate of young Internet users, Vietnam holdsgreat potential to develop its e-commerce market in the time ahead.
Furthermore, e-commerce inrural areas should be a target for major businesses, he said, noting thatcross-border e-commerce has also opened up opportunities for Vietnameseproducts and services to further their reach around the world.
However, the rapid growth ofe-commerce in Vietnamhas posed challenges to State management work and caused a range of issuesduring transactions. As such, experts have suggested changes in management inorder to help e-commerce develop healthily, benefiting both businesses and thecommunity.
Ha underlined the need toreview policy infrastructure on e-commerce and amend the 2005 Commerce Law tosupplement framework regulations on e-commerce, including operationalregulations and the rights and obligations of stakeholders in the industry. –VNA
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