The arrival of COVID-19 caused Vietnamese e-commerce to accelerate in 2020 and this continued in 2021. Due to the repetitive lockdowns and ongoing social distancing, many more consumers have been doing their shopping online.
Consumer electronics is the largest product area in e-commerce by value sales, supported by young tech-savvy consumers who are not only the most prominent online shoppers, but also the most interested in new consumer electronics products. Indeed, younger people in Vietnam often see personal electronics such as smartphones and smartwatches as a way to express social status.
Amongst e-commerce players, Shoppee gained most in value share during 2020 and 2021. Shoppee is also the platform that recorded the highest number of visits during 2020 and 2021.
While sales growth rates in Vietnamese e-commerce are likely to be lower over the forecast period compared with the review period, they will remain very strong, with channel performance supported by government policy. In May 2020, the government approved a master plan for national e-commerce development through to 2025.
Cash on delivery (COD) remains one of the most common payment methods for online businesses in Vietnam. COD allows consumers shopping online to inspect products before making payment.
More players in e-commerce are expected to develop an omnichannel strategy in order to maximise their reach and appeal. With the high popularity of social media platforms such as Facebook and Instagram in Vietnam, it is becoming easier and cheaper for small and new businesses to set up online shops in the country.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the E-Commerce (Goods) industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the E-Commerce (Goods) industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Sales of consumer goods to the general public via the Internet. Please note that this includes sales through mobile phones and tablets (i.e. m-commerce). E-commerce includes sales generated through pure e-commerce websites and through sites operated by store-based retailers. Sales data is attributed to the country where the consumer is based, rather than where the retailer is based. The definition of e-commerce is agnostic as to where actual payment takes place; if an order is initiated online, it is considered to be an e-commerce transaction, even if the order is ultimately paid for in-store (or elsewhere). As a result, all ‘click-and-collect’ and ‘collect-at-store’ transactions are counted as e-commerce sales. E-commerce excludes sales of: (a) Consumer-to-consumer (C2C) and business-to-business (B2B) sales, although please note that sales between businesses and consumers (i.e. B2C sales) on sites such as eBay are included; (b) Sales of motor vehicles, motorcycles and vehicle parts; (c) Tickets for events (sports, music concerts, etc.) and travel; (d) Sales of travel and holiday packages; (e) Revenue generated by online gambling sites; (f) Returned products/unpaid invoices; and (h) Internet sales from direct selling companies, as these are tracked in Direct Selling market size/shares. Example e-commerce brands include Amazon.com, Zappos.com, Apple.com, iTunes, Rakuten, Tesco.com, Dell.com, Coles Online, etc. 3rd Party Merchant sales through online marketplaces, such as Amazon.com, eBay.com and Walmart.com, are included and split out in shares. 3rd party merchants are the summation of sales that come from businesses that are present on an online marketplace (e.g. Amazon, Alibaba). Marketplaces are websites that allow multiple merchants to sell on the marketplace website, with the marketplace operator processing the transactions, but many marketplaces provide offer other services as to help with shipping, handling, payment, and product storage. The marketplace is not the merchant of record legally, but for the sake of shares, sales from 3rd part merchants are attributed to the marketplace brand operator.See All of Our Definitions
This report originates from Passport, our E-Commerce (Goods) research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!