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Viet Nam’s e-commerce market to reach US$40 bln by 2027

VGP - Viet Nam’s e-commerce market is predicted to increase by 28 percent, the highest rate among Southeast Asian nations, and reach US$40 billion by 2027.

Posts Thuy Dung

October 15, 2022 4:06 PM GMT+7
Viet Nam’s e-commerce market to reach US$40 bln by 2027 - Ảnh 1.

Viet Nam’s e-commerce market is predicted to record the growth of 28 percent by 2027, SYNC Southeast Asia report shows - Photo: Bain & Company and Meta

This is part of the SYNC Southeast Asia report-Southeast Asia's digital consumers: A new stage of evolution, released by Bain & Company and Meta.

According to the report, the average contribution of e-commerce to total retail in Viet Nam has continued to grow at 15 percent over the past year with the online share to total retail standing at 6 percent.

Within the past year, the Southeast Asian nation recorded an additional 4 million digital consumers making online purchases.

Especially, eight out of every ten people of working age are now digital consumers. This means that the nation has 60 million digital consumers.

In the post-pandemic period, 10 percent of Vietnamese respondents to the report's survey had moved at least one of their shopping categories from offline to online.

The value of online shopping increased from US$45 in 2021 to US$50 in 2022, the report says.

SYNC Southeast Asia's research is done through surveys on approximately 16,000 digital consumers and interviews with over 20 customer experience managers in six Southeast Asian countries, including Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Viet Nam.