Around 44.8 million people, or nearly 50% of Vietnam's population, shopped online last year, according to the latest e-commerce report conducted by the Vietnam ecommerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade (MoIT).
iDEA also pointed out that 77% of Internet users, mostly between 18 and 25 years old, shopped online at least once in 2019, most of whom accessed online shops through mobile devices.
Online sales platforms reported a 57% year-on-year rise in sales in 2019 compared to 36% in 2018
The Vietnamese e-commerce industry is expected to continue to grow by 25% per year to US$35 billion in 2025 with more than half of the population shopping online.
Average spending for online shopping would be about US$600 per person a year.
Vietnam is one of Asia’s fastest growing ecommerce markets, however most international retailers are finding it difficult to break into because of high international shipping costs to Vietnam from their respective countries.
International ecommerce Retailers need to identify a local Vietnamese Warehouse & Fulfilment Partner which will bring down their freight costs, and receive and warehouse their shipped goods.
If International Displayers at one of Vietmarkets Expos also desire to increase their ecommerce sales to Vietnam, our team will identify on your behalf a number of Low Cost Warehousing & Fulfilment options for your consideration.
Last mile or to-door delivery costs are very cheap in Vietnam, starting at about US$1 for 200grams nation wide. This price includes the courier collecting the money at the door upon delivery, and depositing it into your account.
Furthermore, local ecommerce sites such as Lazada and Shopee are very easy ways for international ecommerce companies to promote their product ranges across Vietnam.
Hence after establishing a relationship with a low cost warehouse & fulfilment center and deciding on the best vehicle to promote your product ranges in Vietnam, any international ecommerce sales company, could quite easily grow their ecommerce business in Vietnam dramatically, and take advantage of this very fast growing industry sector.
LATEST VIETNAMESE E-COMMERCE NEWS
Vietnamese conglomerate Vingroup announced the launch of VinShop offering store owners a digital platform where they can order directly from suppliers and vendors.
In Quarter 2, according to iPrice Group and App Annie, the total number of sessions on shopping apps on Android phones in Southeast Asia has reached 65.1 billion, its highest ever.
For some such as Vietnam, Thailand, and the Philippines, the number of visits to Android shopping applications jumped over 40 per cent within just three months, an impressive statistic that surpassed all expectations.
In Vietnam, digital payment startup VNPay achieved the unicorn status in late 2020, while their competitor MoMo acquired 10 million new users, doubling their user base within 2020.
Among the top five Asian countries with the highest number of new Shopify stores in 2020, three are in Southeast Asia, namely Singapore, the Philippines, and Vietnam. This means selling cross-border (either through Shopify, Amazon, or their own platforms) into the West will continue to be huge for Southeast Asian businesses.
The Vietnamese eCommerce market is getting crowded with numerous different companies to choose from, a Financial Times (FT) report says, leading to a clash between Shopee and Alibaba. Shopee, the article says, has become a favorite for its free deliveries and low fees. The company, owned by Singaporean tech group Sea, received 62 million monthly visits in Vietnam in 2020's third quarter, an over 80 percent increase from a year earlier. Shopee has also had a robust expansion in Vietnam during the pandemic, and that, according to FT, is part of the development in Southeast Asia's $100 billion digital economy. This market is ready to become a new cornerstone of eCommerce, bringing a spate of rivalries and team-ups trying to build a new digital world and service varied customer needs.