Vietnam ranks in the top 3 countries with the largest online retail growth in Southeast Asia

, Vietnam ranks in the top 3 countries with the largest online retail growth in Southeast Asia

According to the 2022 E-Commerce White Paper of the Department of E-commerce and Digital Economy – Ministry of Industry and Trade, Vietnam’s e-commerce in 2021 will maintain a stable growth rate at 16%, retail revenue will reach $13.7 billion.

The content of the White Paper is built from the results of surveys of nearly 5,000 consumers and about 10,000 businesses, along with aggregated data from a number of reputable organizations around the world.

The report shows that in 2021, Vietnam’s e-commerce will reach 13.7 billion USD, up 16% compared to 2020. In Southeast Asia, Vietnam ranks in the top 3 countries with growth rates largest online retailer in the region, after Indonesia and Thailand.

On average, how much does each Vietnamese spend on online shopping?

On average, how much does each Vietnamese spend on online shopping?

Compared to 2015 (the year when the e-commerce boom started in Vietnam), it is forecasted that in 2022, the retail e-commerce value will increase four times, from 4 billion USD to more than 16 billion USD. It is forecasted that by 2025, Vietnam will reach $39 billion, ranking second in terms of e-commerce growth in Southeast Asia.

According to the Report, in 2021, Vietnam will have 54.6 million consumers shopping online, an increase of 10.75% compared to 2020. It is forecasted that in 2022, Vietnam will have about 57 – 60 million consumers shopping Online.

On average, how much does each Vietnamese spend on online shopping? - Photo 1.On average, how much does each Vietnamese spend on online shopping? - Photo 1.

Source: Department of E-commerce and Digital Economy

In 2017, it was estimated that each Vietnamese person spent 186 USD (equivalent to about 4.4 million VND) for online shopping. However, by 2021, the amount of money a Vietnamese person spends online shopping has increased to 251 USD (nearly 6 million VND), an increase of 35% compared to 2017.

According to a forecast of the Department of E-commerce and Digital Economy, in 2022, on average, a Vietnamese person will spend from 260 – 285 USD (from 6.1 – 6.7 million VND) for online shopping.

In terms of groups of goods and services, a survey by the Ministry of Industry and Trade shows that in 2021, the most purchased goods groups are clothes, shoes and cosmetics, with 69% of people shopping online.

Household appliances and technology and electronics are the next two most purchased items, with 64% and 51% respectively of online shoppers. Books, stationery, flowers, gifts and food are also items of interest in 2021.

On average, how much does each Vietnamese spend on online shopping? - Photo 3.On average, how much does each Vietnamese spend on online shopping? - Photo 3.

These types of goods and services are often purchased online. Source: Department of E-commerce and Digital Economy

In addition, in 2021, 73% of online shoppers choose to pay cash on delivery. Only 37% of users choose to pay by e-wallet, up 14% compared to 2020.

Notably, consumers buying goods on foreign e-commerce websites accounted for 43%. The reason why consumers choose to buy goods from foreign sellers on the e-commerce trading floor of Vietnam is cheaper prices, better product quality, foreign-branded goods, and only foreign traders.

In addition, the 2022 E-commerce White Paper also shows that the criteria consumers care about when shopping online are the reputation of the website, the e-commerce application, and fast and flexible delivery according to the customer’s booking schedule. products, many promotions, cheaper prices than buying at the store…

In contrast, obstacles when buying online come from poor quality goods compared to advertising, fear of personal information being disclosed, high shipping costs, poor quality of shipping and delivery services; poor customer service.

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The reason why users do not shop online is that it is more convenient to shop at stores, difficult to verify the quality of goods, do not trust sellers, fear of revealing personal information, and have no experience in online shopping…

Source: CafeF

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