E-commerce market value in Vietnam 2014-2020
In 2020, e-commerce revenue amounted to approximately 11.8 billion U.S. dollars, accounting for approximately 5.5 percent of the total retail sales of goods and services in Vietnam that year. Vietnam has one of the fastest growing internet economy in Southeast Asian, with a growth rate of 36 percent in 2020.
Key figures of e-commerce in Vietnam
The growth rate of retail sales on e-commerce between businesses and customers (B2C) continued to increase by over 25 percent. This growth will be higher than the goal stated in the 2016-2020 plan for e-commerce development. Overall, e-commerce will take up 8.1 percent of total retail sales in Vietnam. The forecasted market size of e-commerce logistics for 2020 was at 268.8 million euros.
E-commerce development in Vietnam
The e-commerce boom in 2018 was supported by the improvements in electronic payment methods in 2019. In that year, the Ministry of Industry and Trade also successfully organized an online shopping program, called “Online Friday” to strongly promote the development of e-commerce and digital economy in Vietnam. “Online Friday 2019” attracted more than 11.9 million interactions, 35 thousand mobile app downloads and 1.6 million QR code scans to participate in raffles and prize competitions.
Key figures of e-commerce in Vietnam
The growth rate of retail sales on e-commerce between businesses and customers (B2C) continued to increase by over 25 percent. This growth will be higher than the goal stated in the 2016-2020 plan for e-commerce development. Overall, e-commerce will take up 8.1 percent of total retail sales in Vietnam. The forecasted market size of e-commerce logistics for 2020 was at 268.8 million euros.
E-commerce development in Vietnam
The e-commerce boom in 2018 was supported by the improvements in electronic payment methods in 2019. In that year, the Ministry of Industry and Trade also successfully organized an online shopping program, called “Online Friday” to strongly promote the development of e-commerce and digital economy in Vietnam. “Online Friday 2019” attracted more than 11.9 million interactions, 35 thousand mobile app downloads and 1.6 million QR code scans to participate in raffles and prize competitions.
