The 4.0 Industrial Revolution has become the motivation for global e-commerce and the E-commerce development of Vietnam. On the other hand, the impact of the Covid-19 pandemic has significantly changed consumers' shopping habits and behaviors.
Vietnam's E-commerce market has been increasingly expanded in recent years and has become a popular business. The diversity of models, participants, processes, supply chains, and services with Internet infrastructure and modern technology applications has made e-commerce a key in economic development.
Although the Covid-19 pandemic has caused serial adverse effects, Vietnamese E-commerce still has vital acceleration steps, becoming one of the fastest-growing e-commerce markets in Southeast Asia. According to the Vietnam E-commerce White Book, in 2020, the growth rate of e-commerce reached 18%, the scale reached 11.8 billion USD. And Vietnam is the only country in Southeast Asia that achieved double-digit e-commerce growth.
In 2020, 70% of the total population used the Internet. The number of online shoppers in Vietnam is estimated at 49.3 million people, and the value of online shopping reached 11.9 billion USD.
Vietnam's digital economy is expected to exceed US$52 billion and hold the third position in the ASEAN region by 2025.
New online shoppers in Vietnam reached 41% compared to total online buyers, holding the highest position among countries in Southeast Asia and 5% higher than the Southeast Asian average.
During the pandemic, the e-commerce market has become more and more exciting, and digital technology application has become an effective solution for Vietnamese businesses to overcome difficulties, bringing opportunities from new market demands. Vietnamese consumers' behaviors are also gradually shifting from traditional purchases to online purchases.
The top 10 most traffic e-commerce websites in Southeast Asia showed the presence of Thegioididong, Tiki, Sendo, Bach Hoa Xanh, FPT Shop, which are all well-known brands in Vietnam.
In conclusion, E-commerce helps consumers reach out to international markets and become "global consumers," making it easy for businesses to sell their products to the world. In addition, participation in the import/ export activities and cross-border e-commerce channels create opportunities for Vietnamese companies to learn and practice. Thereby, they could understand world-class quality and improve goods value originating in Vietnam, bringing Vietnamese brands worldwide.
Source: Media
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