Experts: E-commerce to grow solidly in 2021

Illustrative image (Photo: blog.paycorp.co.za)

 

Hanoi (VNA) - Vietnam’s e-commerce market will maintain its solidgrowth trajectory this year, analysts said at a ceremony announcing Vietnam’sE-Business Index within the framework of the Vietnam Online Business Forum onApril 20.

Speaking at the event, a representative from the Vietnam E-CommerceAssociation (VECOM) said enterprises have become more dynamic and graduallyadapted to e-commerce. The growing number of online consumers has resulted in growthin retail, ride-hailing, food delivery, online payments, training, andmarketing.

Nguyen Binh Minh, member of the VECOM executive committee, said e-commerceis growing primarily in Hanoi and Ho Chi Minh City, and consumers are spending more onluxury and high-value goods or saving to buy necessities.

Trinh Khac Toan from Amazon Global Selling Vietnam said e-commerce isdeveloping strongly, with growth of 22 percent recorded over the last fiveyears, which is expected to exceed 20 percent in 2021 alone.

Experts said the E-business Index in 2021 was based on three criteria: humanresources and infrastructure in information technology, e-commerce transactionsbetween businesses and consumers, and between among businesses.

Notably, HCM City still led the index with 67.6 points, ahead of Hanoiwith 55.7 points and Da Nang 19.

The southern province of Dong Nai rose to fifth place, behind BinhDuong, with 11.14 points. The northern port city of Hai Phong moved down to sixthplace from third.

During the 2016-2020 period, the e-commerce gap between Hanoi and Ho ChiMinh City and other localities remained virtually unchanged.

Experts forecast that online businesses will grow 29 percent during the2021-2025 period, and Vietnam’s digital economy is expected to reach 52 billionUSD by 2025.

Figures from VECOM show that Vietnam’s e-commerce market increased 16percent last year to over 14 billion USD. Of this, online retail grew 46percent, ride-hailing and food delivery 34 percent, and online marketing andgames 18 percent. Online tourism, meanwhile, fell 28 percent./.

VNA