According to Statista data, by 2025, online sales will account for about 1/10 of Vietnam's total retail sales. The revenue of the e-commerce market will reach 9 billion USD.

Vietnam e-commerce: Revenue growth rapidly

In the past three years, the revenue of the Vietnamese fashion industry has increased by 180%. It is forecasted that in the next 5 years, the fashion industry will grow at an annual rate of 24%, with a revenue of about 2.1 billion USD.

Electronic products also have a fast growth rate in Vietnamese e-commerce, increasing by nearly 27%. By 2025, this industry's revenue is estimated to reach 2.4 billion USD.

Also, Vietnam's e-commerce business is quickly catching up and surpassing other ASEAN countries.

In the United Nations' 2020 e-commerce survey of 193 countries and territories, Vietnam ranked 86th, up 2 places. Vietnam is also actively improving and developing e-commerce to become one of the four major countries in Southeast Asia by 2025.

Vietnam's 40 million online shoppers spend an average of about $210 annually, ranking second among ASEAN countries. Vietnam's e-commerce market will continue to grow as internet usage increases, smartphones become more widely used, and people's confidence in online shopping also increases.

Vietnam e-commerce: An attractive "cake"

The success of Vietnamese e-commerce platforms such as Tiki, Sendo and The Gioi Di Dong proves the acceptance of e-commerce by the Vietnamese consumer market.

Statistical results from iPrice show that more than a quarter of e-commerce traffic in Vietnam comes from Shopee. In the third quarter of 2020, Shopee became the most visited e-commerce site in the market.

The top three e-commerce portals in Vietnam, including Shopee, The Gioi Di Dong and Tiki, have accounted for more than half of the traffic on the e-commerce market.

The vast development prospect of Vietnam's e-commerce has attracted the attention of many investors, most of whom are companies and enterprises from Japan, Germany, the US, Korea, China and Singapore.

It is known that Tiki recently successfully raised 130 million USD from NorthStar Group, and companies like JD.com have also poured capital into it.

Sendo also completed a $51 million deal with Japan's SBI Holding. Additionally, Grab and Gojek, two of Vietnam's most valuable startups, are evaluating the terms of a potential merger. When the merger is successful, it will greatly impact the e-commerce industry across the Vietnamese market.

In addition to mergers and acquisitions between e-commerce platforms, the Vietnam logistics industry report 2021 clearly shows that, with the entry of multinational companies, e-commerce is an important growth point for logistics services in Vietnam, especially the international shipping industry.

As an ASEAN country with a strong economy, Vietnam has attracted the attention of many Chinese companies in recent years. Chinese businesses wish to cooperate with Vietnamese partners to expand and exploit Vietnam's potential e-commerce market.

Moreover, the Government of Vietnam's commitment to promoting the digital transformation of the economy has created leverage for the development of e-commerce, attracting foreign investment in industrial chains related to e-commerce.

It is not just a goods exhibition in the traditional sense but will integrate overseas warehousing, transportation logistics, distribution platforms and extensive cooperation with mainstream e-commerce platforms.

The exhibition will invite many multi-channel networking organizations, experts, presenters, and internet celebrities, use new media and marketing methods, and use agency operating agencies and live streaming resources to connect product sales channels and open new markets for exhibitors.

Within the exhibition framework, the Ministry of Industry and Trade will organize the "Vietnam Digital Economy Development Forum" to help businesses seek cooperation opportunities and accelerate the digital transformation of the commercial market. Vietnamese e-commerce.

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