Vietnamese e-commerce on the rise: report

Wednesday, 2018-03-14 16:52:09
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The Vietnam E-business Index 2018 Report was officially announced in Hanoi on March 14 within the framework of the Vietnam Online Business Forum 2018. (Photo: infonet.vn)
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NDO – The Vietnam E-business Index 2018 was officially announced in Hanoi on March 14, showing positive growth in the country’s ecommerce sector.

The announcement was made within the framework of the Vietnam Online Business Forum (VOBF) 2018, which was opened on Wednesday morning by the Vietnam E-commerce Association (VECOM).

Developed by the VECOM since 2012 and published annually, the Vietnam E-business Index is a useful quantitative tool for identifying e-commerce development across the country, as well as in each locality.

According to the VECOM, Vietnam's e-commerce growth in 2017 was estimated at over 25%, among the fastest in the world, and the rate is expected to be maintained during 2018-2020.

The growth rate in several specific fields was very spectacular. Specifically, in the online retail sector, statistics from thousands of e-commerce websites showed a high revenue growth rate at 35% last year. An indirect survey of certain delivery companies showed a 62-200% growth in delivery service revenues.

In the field of payments, information from the National Payment Corporation of Vietnam (NAPAS) shows that domestic online card transactions in 2017 increased at roughly 50% compared to 2016, while the value of transactions was up 75%. Regarding online marketing, several affiliate marketing companies recorded a growth rate of between 100-200%.

The Vietnam Online Business Forum 2018 attracted the attention of the business community. (Photo: infonet.vn)

In tourism, the rate of bookings through online travel agencies increased sharply, reaching 30%. If combined with the two-digit growth rate of tourism revenue, it is estimated that the growth rate of online travel revenue is at over 50%.

The Vietnam E-business Index 2018 also shows that e-commerce continues to grow rapidly throughout the country and Ho Chi Minh City and Hanoi continue to play a pioneering role, creating a huge difference between Vietnam’s two largest cities and the rest.

Based on this data, the VECOM recommended developing strong policies and solutions to promote the role of e-commerce in the two economic centres in both ends of the country, while supporting other localities in creating rapid and sustainable development for the whole nation.

Gathering organisations and individuals that have a great influence in online business, VOBF provides opportunities for agencies, businesses, and individuals to exchange their views on new trends in e-commerce, emerging technologies, and innovative business ideas.

In its second installment, the annual event will take place in the two major cities of Hanoi on March 14 and HCM City two days later.