Thirty percent of Vietnam’s population to shop online by 2020

A man delivers goods to an online shopper (Photo: SGGP)

The Vietnam e-Commerce and Digital Economy Agency under the Ministry of Industry and Trade said fastest-growing retail e-commerce markets have seen in Vietnam for five recent years. The ecommerce markets grow gradually and stably at over 20 percent annually from $2.2 billion in 2013 to $6.2 billion in 2017.

Economists forecast that e-commerce revenue will continue growing by around 20 percent for the period 2018-2020 and it will reach $10 billion in 2020 accounting for 5 percent of the country’s retail and consumer service turnover.

Thirty percent of online shoppers will spend nearly $350 each annually.

Most online shoppers prefer cash on delivery (COD), the sale of goods by mail order where payment is made on delivery rather than in advance. This mode of payment increased from 74 percent in 2013 to 82 percent in 2017. Additionally, those buying things on the Internet pay through banks.

54 percent of Vietnamese shoppers are satisfied with their online shopping experiences in 2017./.

SGGP News