Illustrative image (Source: blog.paycorp.co.za)Hanoi (VNA) – Vietnam’se-commerce market is predicted to boom in the near future, given that 53percent of the population uses the internet and nearly 54 million people usesmartphones.
Statistics from the Ministry of Industry andTrade (MoIT)’s E-Commerce and Information Technology Agency showed 70 percentof purchases via social media were made on Facebook this year, up slightly from2017.
Facebook was more regularly visited byshoppers, with 77 percent of online shoppers using it for purchases, comparedto 5 percent on Zalo.
Among more than 1,000 respondents to asurvey by CBRE Vietnam, a quartercurrently or previously sold products online. Some 66 percent used Facebook forsales, 49 percent used Shopee and 26 percent used Lazada.
According to experts, trade volume viae-commerce reached 4.07 billion USD in 2015, hit 5.1 billion USD in 2016 and6.2 billion USD in 2017. The figure is forecast to surge to 10 billion USD by2020, giving Vietnam a great chance to develop the digital economy.
A recent study by the Institute for GlobalLeadership under the US’s Tufts University showed Vietnam ranks 48th out of 60 countries globally in terms of rapidly switching to digital economy,and 22nd in terms of digitalisation.
The United Nations E-Government Survey 2018 alsopointed out that since 2014, Vietnam has jumped 11 places to the 88th out of 193 countries and territories in the e-government development index. Italso ranks seventh in ASEAN, behind Singapore, Malaysia, the Philippines,Thailand and Brunei.
Dang Hoang Hai, head of the MoIT’sDepartment of E-Commerce and Digital Economy, admitted that infrastructure for thedigital economy, including electronic payment, distribution, human resources,information technology and security and safety remain limited.
Most Vietnamese firms, including e-commerceones, don’t pay attention to the rapid changes of modern technology, he said.
Experts have called for more investment in technologyand human resources amid the fourth industrial revolution. Apart from virtualtechnology, artificial technology and blockchain are breakthrough technologytrends which are applicable in many fields.
Analysts have forecast that around 30percent of Vietnam’s population will shop online by 2020, spending an average350 USD per person yearly.
In particular, social e-commerce is set tothrive in 2019, especially among small and medium-sized enterprises.
Deputy Minister of Industry and Trade CaoQuoc Hung said apart from refining the national e-commerce payment system, itis necessary to issue favourable mechanisms and optimise business models toeffectively use smart supply chain as well as manage intellectual property.-VNA
Statistics from the Ministry of Industry andTrade (MoIT)’s E-Commerce and Information Technology Agency showed 70 percentof purchases via social media were made on Facebook this year, up slightly from2017.
Facebook was more regularly visited byshoppers, with 77 percent of online shoppers using it for purchases, comparedto 5 percent on Zalo.
Among more than 1,000 respondents to asurvey by CBRE Vietnam, a quartercurrently or previously sold products online. Some 66 percent used Facebook forsales, 49 percent used Shopee and 26 percent used Lazada.
According to experts, trade volume viae-commerce reached 4.07 billion USD in 2015, hit 5.1 billion USD in 2016 and6.2 billion USD in 2017. The figure is forecast to surge to 10 billion USD by2020, giving Vietnam a great chance to develop the digital economy.
A recent study by the Institute for GlobalLeadership under the US’s Tufts University showed Vietnam ranks 48th out of 60 countries globally in terms of rapidly switching to digital economy,and 22nd in terms of digitalisation.
The United Nations E-Government Survey 2018 alsopointed out that since 2014, Vietnam has jumped 11 places to the 88th out of 193 countries and territories in the e-government development index. Italso ranks seventh in ASEAN, behind Singapore, Malaysia, the Philippines,Thailand and Brunei.
Dang Hoang Hai, head of the MoIT’sDepartment of E-Commerce and Digital Economy, admitted that infrastructure for thedigital economy, including electronic payment, distribution, human resources,information technology and security and safety remain limited.
Most Vietnamese firms, including e-commerceones, don’t pay attention to the rapid changes of modern technology, he said.
Experts have called for more investment in technologyand human resources amid the fourth industrial revolution. Apart from virtualtechnology, artificial technology and blockchain are breakthrough technologytrends which are applicable in many fields.
Analysts have forecast that around 30percent of Vietnam’s population will shop online by 2020, spending an average350 USD per person yearly.
In particular, social e-commerce is set tothrive in 2019, especially among small and medium-sized enterprises.
Deputy Minister of Industry and Trade CaoQuoc Hung said apart from refining the national e-commerce payment system, itis necessary to issue favourable mechanisms and optimise business models toeffectively use smart supply chain as well as manage intellectual property.-VNA
VNA
