Vietnam’s e-commerce – promising market for RoK firms

 Nearly 75% of Vietnamese Internet users optimised online platforms to shop for a wide range of products. (Photo: Kyanon)

Seoul (VNA) - Shopee Korea, one of the biggest e-commerce platforms in Southeast Asian, said Vietnam has emerged as a rapidly growing market, ranking first in the number of orders and second in sales among the markets where Shopee offered its mega sale - 9/9 Super Shopping Day.

Last year, the Vietnamese e-commerce market was valued at 16.4 billion USD, a three-fold rise over the past five years. Vietnam was also recognised by the US’s eMarketer as one of the top five countries in the world for e-commerce growth.

Shopee Korea cited statistics by the White Book on Vietnamese E-Business 2022 showing that nearly 75% of local Internet users optimised online platforms to shop for a wide range of products.

The average annual purchase amount per person was expanded by more than double digits as compared with the previous year, and the purchasing power was also increasing.

Notably, Korean beauty products were among the best-sellers on Shopee Vietnam, followed by those related to K-pop and food, Shopee Korea said, forecasting that the demand for Korean products in Vietnam will continue to rise in the time ahead.

Kwon Yoon-ah, Branch Office Manager of Shopee Korea, called the Vietnamese market a “blue ocean” expected to grow further in the future./.

VNA