E-commerce forecast to hit $39bln by 2025
Vietnam has over 53 million digital customers.
Total revenue in e-commerce is forecast to increase to $39 billion by 2025, accounting for nearly 70 per cent of value in the country’s digital economy, according to the Ministry of Industry and Trade (MoIT).
As of the end of 2021, Vietnam had 53 million digital customers, while 70 per cent of the population had access to the internet and 53 per cent used e-wallets for online payments.
The number of goods categories purchased by Vietnamese online shoppers this year went up 50 per cent compared to 2020, while the number of online stores rose 40 per cent year-on-year, resulting in a 1.5-fold increase in total online retail sales nationwide.
Social network users in Vietnam were estimated to make up 75.7 per cent of the population in 2022 and the figure is predicted to skyrocket to 85.74 per cent by 2030, according to figures from Statista.
The “Vietnam: New E-Commerce Hotspot in Southeast Asia by 2026” report from Facebook and Bain & Company said e-commerce in Vietnam will develop strongly in the future.
By 2026, the country is forecast to become the fastest-growing e-commerce market in Southeast Asia, with the total value of e-commerce products reaching $56 billion.
However, comprehensive measures are required from enterprises, e-commerce vendors, and government agencies to fulfill targets in e-commerce development, MoIT said.