Business

Vietnam e-commerce revenue grows 18 percent

E-commerce revenue in Vietnam hit 11.8 billion USD in 2020, posting a growth rate of 18 percent.
 
Vietnam e-commerce revenue grows 18 percent ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – E-commercerevenue in Vietnam hit 11.8 billion USD in 2020, posting a growth rate of 18percent.

According to Vietnam E-commerce White book 2021, released by the Vietnam E-Commerce and Digital Economy Agency (IDEA),revenue from e-commerce activities surged in the past five years, from 5 billion USD in2016 to over 10 billion USD in 2019.

Amidst the complicated developments of the COVID-19 pandemic over the past twoyears, Vietnam has seen positive changes in online purchasing with bothconsumers and firms moving online.

Another report from Google showed that Vietnam’s e-commerce would reach 29billion USD by 2025 with the growth of 34 percent compared to the figure of2020.

According to the IDEA, Vietnam has continuously recorded the strong growth interms of the rate of internet users and the number of online shopping users andpurchase value.

Statistics from theE-commerce White Book showed that the rate of new internet users shoppingonline also increased from 77 percent in 2019 to 88 percent in 2020.

The value of goods purchased online also increased from 229 USD in 2019 to 240USD in 2020 per person.

Essential items such as food and household appliances account for an increasingproportion of online sales. The data showed that 53 percent of users shop forfood online; 43 percent shop for shoes, clothes, and cosmetics; and 33 percentshop for household appliances.

Specifically, in 2020, 74 percent of people were shopping on websites and e-commerceplatforms. Alternatively, online shoppers buying on forums and social networksreached 33 percent. This was a significant increase from the previous year with52 percent buying on e-commerce channels and 57 percent on social networks in2019./.

VNA
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