Vietnam's E-commerce Market to Reach $39 bln in 2025

The COVID-19 pandemic has accelerated e-commerce development, making it an essential growth strategy for retailers.

The report also reveals that for the first time, the estimated number of online shoppers in Vietnam will reach 57 million, with each spending an average of $260-285 in 2022.

The proportion of B2C e-commerce revenue is expected to exceed 7% and reach 7.2% to 7.8% of the total retail sales of goods and consumer services.

Nguyen Thi Minh Thuy, Director of the Center for ICT Application in Trade Promotion, predicts that e-commerce transactions will continue to grow, including in rural areas, due to the e-commerce development plan and the enhancement of people's capacity to conduct e-commerce transactions.

The trend of shifting to mobile platforms is also expected to increase, with e-wallet payments gradually replacing traditional payment methods.

The lychee industry is an excellent example of how e-commerce platforms have supported farmers during the pandemic. 

When Chinese traders bought very little due to the impact of COVID-19, e-commerce platforms such as Sendo, Voso, Tiki, Lazada, Shopee, and Postmart opened sales and distribution channels for lychees on e-commerce platforms, leading to a new direction for consuming agricultural products.

As digital consumption becomes a lifestyle, 97% of new consumers are still using digital services, and 99% intend to continue using them in the future. 

According to the annual report of "SYNC Southeast Asia" by Facebook and consulting firm Bain & Company, Vietnam is expected to be the fastest-growing e-commerce market in Southeast Asia in 2026, with the total value of e-commerce goods reaching $56 billion, 4.5 times the estimated value in 2021. 

James Dong, CEO of Lazada Vietnam, stated that e-commerce has transformed from a complementary channel to a core part of the growth strategy of brands and retailers.

Source: CafeF