Vietnam’s e-commerce forecast to exceed US $ 11.8 billion | Business

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Illustrative image. (Photo: congthuong.vn)

Experts revealed the information at a recent workshop on the future of Vietnam’s digital economy as part of Techfest Vietnam 2021.

Vietnam’s e-commerce revenue reached $ 11.8 billion last year, showing a growth rate of 18%.

Nguyen Thi Thanh Thuy, head of Voso E-commerce Platform’s e-commerce division, said that the Vietnamese e-commerce market has recorded the fastest growing rate in Southeast Asia.

E-commerce is expected to continue to boom after the Covid-19 pandemic has been brought under control, creating new consumer trends. The demand for online shopping through e-commerce platforms has increased sharply since the start of the pandemic.

So far, more than 70 percent of the Vietnamese population have accessed the internet, of which nearly 50 percent of consumers have tried online shopping and 53 percent of them have used e-wallets and online payments. line.

Thuy said that consumers’ habits changed completely during the pandemic as they cut back on shopping activities and instead focused on essentials and became interested in Vietnamese products.

Tran Chi Dung, head of the technological innovation division of the Vietnam Logistics Business Association, said that a change in purchasing habits has created great opportunities for the development of e-commerce. However, Vietnamese e-commerce still faces many challenges such as consumer confidence when purchasing products online, delivery and payment methods, information security and transportation infrastructure.

Le Thi Mai Anh, head of e-commerce postal sales department at Vietnam Post, said the rapid growth of the market is expected to continue in the future. This growth will bring not only major opportunities but also challenges for the development of logistics platforms to meet growing customer and market demand.

E-commerce logistics companies are also facing a low rate of application of information technology in e-commerce logistics, she said.

Currently, only about 11% of companies apply basic information technology related to tracking and tracing of goods, delivery and warehousing systems. Another challenge is the lack of a legal framework for e-commerce logistics, Anh said.


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