Vietnam's e-com sector maintains sound growth momentum in 2021

27 May '22

2 min read

Pic: Shutterstock

In spite of the pandemic, Vietnam's e-commerce sector maintained a sound growth momentum in 2021, with an increase of about 20 per cent and a scale of $16 billion, according to Nguyen Ngoc Dung, chairman of Vietnam E-commerce Association (VECOM). The country now has one of the largest e-commerce markets in the region, besides Indonesia, Thailand and Malaysia.

Vietnam's internet economy grew by 31 per cent last year compared to 2020 and reached a scale of $21 billion. Of that, the online retail sector expanded by 53 per cent and touched a scale of $13 billion.

During the first two waves of COVID-19, the number of online consumers increased drastically in both quantity and quality. The second wave created a fresh and stronger stimulus for e-commerce in the medium and long term and the digital transformation of both traders and consumers was more evident.

The number of new online consumers continues to climb, and a large number of buyers have become smart consumers, more proficient in online shopping skills. A part of consumers even has prioritised online shopping over traditional shopping, according to a Vietnamese media report.

Many traders, especially e-commerce businesses, have actively carried out digital transformation activities to adapt to the pandemic, as well as prepare for business activities in the new normal state after the fourth wave of COVID-19.

Fibre2Fashion News Desk (DS)

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