New report from yStats.com suggests continued expansion of online retail in Vietnam
A recent publication from Hamburg-based business intelligence company yStats.com, "Vietnam B2C E-Commerce Market 2019" projects continued strong growth of the online retail sector in the Southeast Asia nation through the middle of the next decade
By: yStats.com GmbH
Online retail sales year on year to increase at a double-digit rate for next 6 years
Even though the logistics infrastructure presents challenges and digital payment options are limited, Vietnam is projected to have one of the Southeast Asia region's fastest B2C E-Commence sales growth rates through 2025. The yStats.com publication cites information indicating that part of the background of this rapid growth is the young tech-savvy population and the growing number of smartphones that permits access to the Internet and web-based merchants.
Social and M-Commerce contribute to B2C E-Commerce growth
The smartphone's role in increased online retail sales in Vietnam is reflected in the numbers of shoppers who make purchases through digital merchants' apps. The yStats.com report also cites surveys indicating that social commerce is a driver of online retail sales as over forty percent of social media users purchased goods or services through social media such as Facebook.
Regional and global E-Commerce sellers compete in growing Vietnamese market
The recent expansion of online retail in Vietnam attracts the attention of merchants prepared to capture a share of the market. As cited in the yStats.com report, the most popular E-Commerce websites in the country were Shopee, Tiki and Alibaba-supported Lazada, which had been the leader until recently. Other players in the top five were local retailers Sendo and Thegiodidong.com. China's JD.com has recently invested heavily in Vietnam's Tiki.vn, an indication of the competition for attention of the growing number of online shoppers in the country.
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