E-commerce revenue in Vietnam hit 11.8 billion USD in 2020, posting a growth rate of 18 percent.
Illustrative image (Photo: VNA)
According to Vietnam E-commerce White book 2021, released by the Vietnam E-Commerce and Digital Economy Agency (IDEA), revenue from e-commerce activities surged in the past five years, from 5 billion USD in 2016 to over 10 billion USD in 2019.
Amidst the complicated developments of the COVID-19 pandemic over the past two years, Vietnam has seen positive changes in online purchasing with both consumers and firms moving online.
Another report from Google showed that Vietnam’s e-commerce would reach 29 billion USD by 2025 with the growth of 34 percent compared to the figure of 2020.
According to the IDEA, Vietnam has continuously recorded the strong growth in terms of the rate of internet users and the number of online shopping users and purchase value.
Statistics from the E-commerce White Book showed that the rate of new internet users shopping online also increased from 77 percent in 2019 to 88 percent in 2020.
The value of goods purchased online also increased from 229 USD in 2019 to 240 USD in 2020 per person.
Essential items such as food and household appliances account for an increasing proportion of online sales. The data showed that 53 percent of users shop for food online; 43 percent shop for shoes, clothes, and cosmetics; and 33 percent shop for household appliances.
Specifically, in 2020, 74 percent of people were shopping on websites and e-commerce platforms. Alternatively, online shoppers buying on forums and social networks reached 33 percent. This was a significant increase from the previous year with 52 percent buying on e-commerce channels and 57 percent on social networks in 2019./.