Viet Nam’s e-commerce to reach US$20 bln by this year’s end
VGP - Viet Nam’s e-commerce market is predicted to expand 25 percent, with the market scale projected to increase to US$20 billion by the end of this year, according to the Viet Nam E-Business Index (EBI) 2023 rankings.
The booming of e-commerce in 2023 and developing firmly in the following years is aided by a series of growth drivers such as the wave of digital transformation, consumers' trust, technological infrastructure, and favorable mechanisms and policies issued by the Government.
Boasting some 100 cross-border e-commerce platforms, Viet Nam has been ranked among the top five nations with regard to the sector's growth of 20 percent a year by eMarketer.
Last year, the country's top four platforms – Shopee, Lazada, Tiki, and Sendo – generated VND135 trillion (US$5.73 billion) in revenues.
Meanwhile, the scale of the country's retail e-commerce market was estimated to reach US$16.4 billion last year, accounting for 7.5 percent of the country's goods and service revenues.
There were approximately 57-60 million Vietnamese people shopping online, with their spending averaging US$260-285.
The White Book on Vietnamese E-Business 2022 noted that up to 74.8 percent of Vietnamese internet users purchased goods and services online, with the most consumed commodities named apparel and cosmetics, household items, and technological and electronic devices.
HCM City tops EBI 2023 rankings
Ho Chi Minh City - Viet Nam's economic locomotive, scoring 89.2 points, continues to top the rankings this year. With 85.7 points, the capital city of Ha Noi ranks second, followed by the central city of Da Nang with 39.5 points.
Meanwhile, the Central Highlands provinces of Dak Nong and Kon Tum are the worst performers with 10.6 and 10.2 points, respectively.
The report was based on three sub-indexes – information technology human resources and infrastructure, business-to-consumer e-commerce, and business-to-business e-commerce.