E-commerce sales in Vietnam surge 300% to $2.2b
Online shopping in Vietnam experienced a boom last year when revenue rocketed to US$2.2 billion, a staggering 314 per cent rise from $700 million in 2012, according to a report released by the Vietnam E-Commerce and Information Technology Agency (VECITA) under the Ministry of Industry and Trade said in the report released last week. The average spending of the Vietnamese people was estimated at $120 per capita in 2013.
The rapid expansion of the country’s e-commerce sector, thanks to the fast growth rate of Internet users, has forced VECITA to revise its 2015 forecast for the sector from $1.3 billion to over $4 billion in revenue.
Given the current Internet population of more than 30 million, economic development will grant Internet access to even more people in the next two years. With 40-45 per cent of its population forecast to use the Internet by 2015, VECITA foretold that every Vietnamese person will spend at least $150 on e-commerce purchases per year.
In a more optimistic scenario, with a population of 93 million projected for 2015, about 65 to 70 per cent of the population with an Internet connection will generate from $4.08 billion to $4.3 billion in online shopping revenue.
A VECITA survey of 781 online shoppers in 2013 indicated that 61 per cent of them purchased items via e-commerce websites, 51 per cent through group-buying websites, 45 per cent by means of social forums, 19 per cent by way of e-marketplace websites, and six per cent via mobile applications.
Over 41 per cent of the online shoppers were managers/office workers, of which around 59 per cent were women and 41 per cent men. They were described as those who do not have much time for traditional shops due to the official working time but do have time to access the Internet.
This group was followed by students with 37 per cent and those directly involved in business and production activities, accounting for seven per cent. The popular online products were clothes, shoes and cosmetics, making up 62 per cent. The second most popular categories were technology products (35 per cent), followed by household products (32 per cent) and air tickets (25 per cent).
The VECITA report revealed that currently, 10 most popular sites frequented by Internet users are Vatgia.com, Alibaba.com, Ecna.vn, 5giay.vn,123mua.vn, Enbac.com, Chodientu.vn, muaban.net, Rongbay.com, and Ebay.vn.
Online shopping in Vietnam experienced a boom last year when revenue rocketed to US$2.2 billion, a staggering 314 per cent rise from $700 million in 2012, according to a report released by the Vietnam E-Commerce and Information Technology Agency (VECITA) under the Ministry of Industry and Trade said in the report released last week. The average spending of the Vietnamese people was estimated at $120 per capita in 2013. The rapid expansion of the country’s e-commerce sector, thanks to the fast growth rate of Internet users, has forced VECITA to revise its 2015 forecast for the sector from $1.3 billion...
Online shopping in Vietnam experienced a boom last year when revenue rocketed to US$2.2 billion, a staggering 314 per cent rise from $700 million in 2012, according to a report released by the Vietnam E-Commerce and Information Technology Agency (VECITA) under the Ministry of Industry and Trade said in the report released last week. The average spending of the Vietnamese people was estimated at $120 per capita in 2013.
The rapid expansion of the country’s e-commerce sector, thanks to the fast growth rate of Internet users, has forced VECITA to revise its 2015 forecast for the sector from $1.3 billion to over $4 billion in revenue.
Given the current Internet population of more than 30 million, economic development will grant Internet access to even more people in the next two years. With 40-45 per cent of its population forecast to use the Internet by 2015, VECITA foretold that every Vietnamese person will spend at least $150 on e-commerce purchases per year.
In a more optimistic scenario, with a population of 93 million projected for 2015, about 65 to 70 per cent of the population with an Internet connection will generate from $4.08 billion to $4.3 billion in online shopping revenue.
A VECITA survey of 781 online shoppers in 2013 indicated that 61 per cent of them purchased items via e-commerce websites, 51 per cent through group-buying websites, 45 per cent by means of social forums, 19 per cent by way of e-marketplace websites, and six per cent via mobile applications.
Over 41 per cent of the online shoppers were managers/office workers, of which around 59 per cent were women and 41 per cent men. They were described as those who do not have much time for traditional shops due to the official working time but do have time to access the Internet.
This group was followed by students with 37 per cent and those directly involved in business and production activities, accounting for seven per cent. The popular online products were clothes, shoes and cosmetics, making up 62 per cent. The second most popular categories were technology products (35 per cent), followed by household products (32 per cent) and air tickets (25 per cent).
The VECITA report revealed that currently, 10 most popular sites frequented by Internet users are Vatgia.com, Alibaba.com, Ecna.vn, 5giay.vn,123mua.vn, Enbac.com, Chodientu.vn, muaban.net, Rongbay.com, and Ebay.vn.
