E-com in Vietnam projected to surpass last year's figure of $11.8 bn

10 Nov '21

2 min read

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Vietnam’s e-commerce market is projected to continue growing in the post-pandemic period, with revenue surpassing last year's figure, experts told a recent workshop on the future of the the country’s digital economy at the Techfest Vietnam 2021 event. E-commerce revenue in Vietnam hit $11.8 billion last year, posting a growth of 18 per cent.

E-commerce is expected to continue expanding after the pandemic gets controlled, creating new consumption trends. The demand for online purchases through e-commerce platforms has increased sharply since the outbreak of the pandemic, according to Vietnamese media reports.

Up to now, more than 70 per cent of Vietnam's population have accessed the Internet, of which nearly half have tried online shopping and 53 per cent have used e-wallets and online payment.

Though a change in shopping habits has created great opportunities for e-commerce platforms, they face many challenges like consumer trust, forms of delivery and payment, information security and transportation infrastructure, Tran Chi Dung, head of the technology-innovation division of the Vietnam Logistics Business Association, said.

Le Thi Mai Anh, head of the e-commerce postal sales department at Vietnam Post, said the rapid growth of the market will continue in the future. This growth will not only lead to opportunities but also challenges for the development of logistics platforms to meet the increasing demand of customers. Logistics enterprises for e-commerce are also facing a low rate of information technology application in e-commerce logistics, she said.

Currently, only about 11 per cent of businesses in the country are applying basic information technology related to tracking and tracing goods, delivery and warehousing systems. Another challenge is the absence of a legal framework for e-commerce logistics, Anh added.

Fibre2Fashion News Desk (DS)

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