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Vietnam to be fastest-growing e-commerce market in Southeast Asia by 2026: Report

Updated: 08:42, 21/11/2021
Vietnam is expected to be the fastest-growing e-commerce market in Southeast Asia by 2026, with e-commerce Gross Merchandise Value (GMV) reaching 56 billion USD by 2026, 4.5 times the estimated value of 2021, according to a report by Facebook and Bain & Company.

In the annual SYNC Southeast Asia report which looks at the digital economy in the region, the two big market observers said located in a vibrant part of the world, Vietnam is at the forefront of driving change and seizing opportunities to thrive based on digital transformation in a post-pandemic future.

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The study surveyed about 16,700 digital consumers and more than 20 C-level employees in six Southeast Asian countries, including 3,579 survey participants from Vietnam.

The report described Southeast Asia as a leader of digital transformation in Asia-Pacific and Vietnam as one of the best performers.

In Vietnam, seven out of 10 consumers have digital access and the country will have 53 million digital consumers by the end of 2021, the report said.

The number of goods categories purchased by Vietnamese online shoppers this year went up 50 percent compared to 2020, while that of online stores in Vietnam also rose by 40 percent year-on-year, resulting a 1.5-fold increase in total online retail sales nationwide.

Some 49 percent of Vietnamese consumers switched to a new online marketplace within the last 3 months, based on considerations of price incentives (45 percent), product quality (34 percent), and availability of goods (33 percent).

For the first time, the payment using cash is at risk of being dethroned with a significant decrease from 60 percent in 2020 to only 42 percent in 2021. Safety, privacy and service fees are the three main concerns of Vietnamese consumers when considering these types of payment.

This year, Vietnamese people spent most of the time on using social networks, texting, watching videos, shopping online, and emailing. They used 72 percent of their time for regular activities at home instead of going out.

Imports dominate popular categories on e-commerce platforms
Only 17 percent of the most popular goods on e-commerce platforms since last year have been Vietnamese, a market research firm said.
Bac Giang: Farm produce assisted to sold on e-commerce platforms
(BGO) – The Department of Agriculture and Rural Development (DARD) has joined hand with the Department of Industry and Trade, ViettelPost and provincial Post Office in Bac Giang province to support farming households, individual business family, cooperatives and working groups to register at two e-commerce platforms Voso.vn and Postmart.vn.
Vietnam E-commerce White book 2021 released
The Vietnam E-commerce White book 2021 was recently released by the Vietnam E-Commerce and Digital Economy Agency (IDEA) under the Ministry of Industry and Trade.
Over 9,000 tonnes of farm produce consumed on e-commerce platforms
(BGO) – More than 9,000 tonnes of farm produce in the northern province of Bac Giang have been sold on e-commerce platforms including over 7,000 tonnes of lychee and various OCOP products of Ven village tea, Chu rice noodle, corn wine, herbal mushroom..., 1,000 fold increase comparing to the figure last year, said Tran Quang Tan, Director of the provincial Department of Industry and Trade (DoIT).
E-commerce platforms support farmers to consume OCOP products
(BGO) – Now the lychee season ends, some e-commerce platforms such as Sendo.vn, Voso.vn, Postmart.vn... continue supporting the farmers in Bac Giang province to sell various farm prodce. Most of the products are One Commune One Product (OCOP) like Chu rice noodle, Yen Dung fragrant rice, dried lychee, Son Dong wild honey...

Source: NDO/VNA

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