Vietnamese e-commerce sales are expected to hit more than 4 billion USD in 2015, thanks to growing internet users, reports the Vietnam E-commerce and Information Technology Agency (VECITA).
According to VECITA, which comes under the Ministry of Industry and Trade, the value of e-commerce sales in Vietnam is estimated at 2.2 billion USD with an average spending of 120 USD per capita last year.
Vietnam currently has more than 30 million internet users. VECITA has forecast that by 2015, Vietnam will have between 40-45 percent of its population using the internet. With a rapid pace of economic development and growing trend in internet use, a Vietnamese is estimated to spend at least 150 USD on e-commerce purchases per year, bringing an estimated revenue of 4 billion USD in 2015, cited VECITA.
With a population of 93 million, the ratio of Internet access for online shopping at 70 percent will bring a revenue of approximately 4.3 billion USD. With a ratio of 65 percent, it will reach 4.08 billion USD, and if the ratio is lower than 60 percent, it will reach 3.7 billion USD.
There are 61 percent online buyers reported in 2013. Some 51 percent of group purchasing websites and social networking websites accounted for 45 percent and 19 percent customers buy products through e-commerce.
In addition, the percentage of online shoppers via applications installed on mobile devices reached 6 percent.
Of the total online shoppers, around 59 percent are women and 41 percent are men. In terms of occupation, managers and state employees are regular online buyers, accounting for 41 percent. According to the report, this group is usually pressed for time, so they usually access the internet for online shopping.
It is followed by students with 37 percent and those directly involved in business and production activities, accounting for 7 percent.
The major products sold online were fashion and beauty related products at 62 percent, furniture and electronics technology at 35 percent, home appliances at 32 percent, and airfares at 25 percent.
In Vietnam , cash-on-delivery remains the most popular payment method used by clients after they ordered products online, which accounted for 74 percent. Bank transfer accounts for 41 percent, card payment accounts for 11 percent, scratch cards accounted for 9 percent, and only 8 percent used electronic wallets (e-commerce payment gateway provided by a third party).
VECITA's report revealed that currently, 10 most popular sites frequented by internet users were Vatgia.com, Alibaba.com, Ecna.vn, 5giay.vn,123mua.vn, Enbac.com, Chodientu.vn, muaban.net, Rongbay.com, and Ebay.vn.
However, Nguyen Hoa Binh, general director of Peacesoft, noted that taking into consideration the vast population, Vietnamese e-commerce companies are tapping aggressively into a particular market of buoyant consumers, but he found that many e-commerce businesses have exploited the legal loopholes in e-commerce transactions to swindle customers, thus leading to discontent among online buyers. As a result, many customers decided to return back to the traditional way of shopping.
Sharing this opinion, Tran Anh Tu, the manager of HC online electronics market stated that the unprofessional and disreputable behaviour of some e-commerce businesses have badly affected the reputation of authentic companies.
Buyers are uncertain whether they will receive their ordered products after transferring money to these companies, Tu added.-VNA
According to VECITA, which comes under the Ministry of Industry and Trade, the value of e-commerce sales in Vietnam is estimated at 2.2 billion USD with an average spending of 120 USD per capita last year.
Vietnam currently has more than 30 million internet users. VECITA has forecast that by 2015, Vietnam will have between 40-45 percent of its population using the internet. With a rapid pace of economic development and growing trend in internet use, a Vietnamese is estimated to spend at least 150 USD on e-commerce purchases per year, bringing an estimated revenue of 4 billion USD in 2015, cited VECITA.
With a population of 93 million, the ratio of Internet access for online shopping at 70 percent will bring a revenue of approximately 4.3 billion USD. With a ratio of 65 percent, it will reach 4.08 billion USD, and if the ratio is lower than 60 percent, it will reach 3.7 billion USD.
There are 61 percent online buyers reported in 2013. Some 51 percent of group purchasing websites and social networking websites accounted for 45 percent and 19 percent customers buy products through e-commerce.
In addition, the percentage of online shoppers via applications installed on mobile devices reached 6 percent.
Of the total online shoppers, around 59 percent are women and 41 percent are men. In terms of occupation, managers and state employees are regular online buyers, accounting for 41 percent. According to the report, this group is usually pressed for time, so they usually access the internet for online shopping.
It is followed by students with 37 percent and those directly involved in business and production activities, accounting for 7 percent.
The major products sold online were fashion and beauty related products at 62 percent, furniture and electronics technology at 35 percent, home appliances at 32 percent, and airfares at 25 percent.
In Vietnam , cash-on-delivery remains the most popular payment method used by clients after they ordered products online, which accounted for 74 percent. Bank transfer accounts for 41 percent, card payment accounts for 11 percent, scratch cards accounted for 9 percent, and only 8 percent used electronic wallets (e-commerce payment gateway provided by a third party).
VECITA's report revealed that currently, 10 most popular sites frequented by internet users were Vatgia.com, Alibaba.com, Ecna.vn, 5giay.vn,123mua.vn, Enbac.com, Chodientu.vn, muaban.net, Rongbay.com, and Ebay.vn.
However, Nguyen Hoa Binh, general director of Peacesoft, noted that taking into consideration the vast population, Vietnamese e-commerce companies are tapping aggressively into a particular market of buoyant consumers, but he found that many e-commerce businesses have exploited the legal loopholes in e-commerce transactions to swindle customers, thus leading to discontent among online buyers. As a result, many customers decided to return back to the traditional way of shopping.
Sharing this opinion, Tran Anh Tu, the manager of HC online electronics market stated that the unprofessional and disreputable behaviour of some e-commerce businesses have badly affected the reputation of authentic companies.
Buyers are uncertain whether they will receive their ordered products after transferring money to these companies, Tu added.-VNA
