E-commerce to continue booming in 2021

Shopping on Shopee e-commerce platform. — Photo congthuong.vn The Vietnamese e-commerce market is forecast to continue to boom in 2021, with revenue surpassing last year’s figure. A report by the Viet Nam e-Commerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade showed that with 53 per cent of the population participating in online shopping, the e-commerce market in Viet Nam grew 18 per cent, reaching $11.8 billion last year, accounting for 5.5 per cent of total retail sales of consumer goods and services nationwide. Nguyen The Quang, the agency's deputy director, said e-commerce had had an impressive year of growth and would continue to explode this year and beyond. According to the national master plan on e-commerce development in 2021-2025, by 2025, up to 55 per cent of the population will participate in online shopping, with the average value of online purchases of goods and services reaching US$600 per person annually. The revenue of the B2C e-commerce model increases by 25 per cent each year, reaching $35 billion, accounting for 10 per cent of the total retail sales of goods and services in the whole country. Viet Nam has a growth rate of retail market share… Read full this story

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