Business

E-retailing to grow 20% this year

The COVID-19 pandemic has put the brake on Vietnam’s economic growth over the last two years but, on the other hand, it has also fueled a significant uptick in e-commerce which recorded a 16% growth to 13.7 billion USD in retail revenue in 2021, according to the White Book on Vietnamese E-business 2022.
E-retailing to grow 20% this year ảnh 1Illustrative image. (Photo: vneconomy.vn)
Hanoi (VNA) – The COVID-19 pandemic has put thebrake on Vietnam’s economic growth over the last two years but, on the other hand, it has also fueleda significant uptick in e-commerce which recorded a 16% growth to 13.7billion USD in retail revenue in 2021, according to the White Book onVietnamese E-business 2022.

Last year, the economic growth hit the lowest in 30 years, at just 2.58%, with key services sub-sectors experiencing downturn.

Data from the General Statistics Office showed thatretailing and wholesaling declined 0.21% year-on-year, causing the economy todecrease 0.02 percentage point. Warehouse and logistics plunged 5.02% andlodging and catering services 20.81%, leading to a drop of 0.3% and 0.51%,respectively, to the GDP growth.

Meanwhile, the share of turnover from e-retailing to lastyear’s total retail sales of goods and services was 7%, a year-on-year rise of27% from 2020.

E-retailing is forecast to surge 20% this year to 16.4billion USD, compared to 5 billion USD in 2015. A 2022 study by big data analysiscompany Metric.vn indicated that Vietnam is emerging as the second largeste-commerce market in Southeast Asia, only after Indonesia.

The White Book on Vietnamese E-business 2022 also reportedthat with online marketplaces now a vital distribution channel in the eraof digitalisation, Vietnamese enterprises are investing more on expanding theirpresence on these platforms.

Those doing business on social networks, such as Facebook,Zalo and Instagram, spurred 41% in 2021 and 57% in 2022, according to thebook./.
VNA
#COVID-19 #e-commerce #e-retailing #White Book on Vietnamese E-business 2022 #digitalisation #Vietnam #Vietnam News #Vietnam Plus #Vietnam News Agency
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