Vietnamese retail sales rise as exports via e-commerce increase

Vietnamese retail businesses have been profiting as a result of increasing e-commerce exports. The COVID-19 pandemic has indirectly paved the way for e-commerce to flourish in the country as cross-border sales see a jump of over 20 per cent annually. Vietnam’s cross-border retail sales reached 75.4 trillion VND last year and are anticipated to make 256.1 trillion VND in 2026, as per a report by e-commerce company Amazon.

More than 64 per cent of the total sales made were by micro, small, and medium enterprises (MSMEs). Cross-border e-commerce is projected to expand widely in Vietnam in the coming five years. Vietnamese products, primarily farm produce, handicrafts, furniture, home appliances and medical supplies, are being traded on international e-commerce platforms like Amazon, JD.com, Alibaba, and Shopee Global, according to figures released by Southeast Asia’s top logistics provider Ninja Van Company.

Global B2C e-commerce revenue is forecast to reach $2.88 trillion in 2023, said Dang Hoang Hai, director of the e-commerce department under the Ministry of Industry and Trade. E-commerce markets of Vietnam’s big trade partners like China, Japan, South Korea, and EU countries will go on to boost opportunities for Vietnamese businesses with products appropriate for their markets.