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Business

Annual e-commerce growth to reach 30-50%

Released at: 08:55, 25/02/2017

Annual e-commerce growth to reach 30-50%

Photo Hai Van

Vietnam Online Business Forum in Hanoi hears of current status of country's e-commerce market.

by Hai Van

The growth of e-commerce in Vietnam is expected to reach 30-50 per cent per year, Mr. Tran Trong Tuyen, General Secretary of the Vietnam E-commerce Association (VECOM), told the Vietnam Online Business Forum (VOBF) 2017 held in Hanoi on February 24.

“The size of Vietnam’s e-commerce market may reach $10 billion within the next five years,” he added.

Ms. Dang Thuy Ha, Chief Representative at market researcher Nielsen in Hanoi, said the e-commerce market was worth up to $4 billion last year.

Of Vietnam’s 91 million people, she said, 45 per cent access the internet and 28 per cent use e-commerce.

Each person spends $160 a year on shopping via e-commerce platforms. Therefore, growth in e-commerce is 22 per cent, according to Nielsen’s report.

The report also notes that the number of people using smartphones has increased sharply, giving a boost to e-commerce.

Thirty-two per cent of enterprises have set up business relations with foreign partners through online channels and 11 per cent have participated in electronic trade floor and website activities, according to a VECOM report.

Ms. Tran Thi Phuong Lan, Vice Director of Hanoi Industrial and Trade, said that retail revenue via e-commerce in the capital stood at VND30 trillion ($1.3 billion) last year, representing 6 per cent of total retail revenue and up 15 per cent against 2015. More than 5,600 e-commerce websites are registered in Hanoi.

VOBF 2017 had five sessions: Overview, Cloud Technology and Mobile Phones with E-commerce, Omni Channel, Cross Border E-commerce, and Online Startups. The Vietnam E-commerce Index 2017 was also released.

This is the first time the Forum has been held. Speakers included representatives from the Vietnam E-commerce and Information Technology Agency, Nielsen, Google, Facebook, Vietnam Post, Verisign, and Lazada.

Attendees had the chance to meet with representatives from Z.com, VeriSign, Matbao, Bizweb, Gimasys, TrustPay, Interspace, Netnam, and iNet. The special features of startups in the sector was also discussed.

VOBF 2017 will be held in Ho Chi Minh City on March 3.

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