30% of Vietnamese to shop online by 2020
At a recent meeting to launch Vietnam’s e-commerce policy, Tran Huu Linh Director General of the Vietnam E-commerce and Information Technology Agency (VECITA) under the Ministry of Industry and Trade (MoIT), said about 30% of Vietnamese people will shop online by 2020.
He added that, with such numbers, annual e-commerce sales will reach an average of US$350 per person.
B2C (Business-to-Consumers) sales will also increase 20% by this time, reaching US$10 billion and accounting for 5% of total retail sales.
Shopping on the mobile platform is predicted to continue to be the main trend around the world over the next five years, accounting for about 25% of total global retail sales and reaching about US$850 billion in 2018.
In Vietnam e-commerce is expected to reach US$300 million.
According to a survey by VECITA, e-commerce enterprises not only actively introduce products, brands and promotions on the mobile platform but also now design apps.
As a new model, however, there should be guidelines and regulations from the State to ensure the benefits of businesses and consumers, Linh believes.
The draft plan for e-commerce development in the 2016-2020 period has a target of approximately 60% of businesses having a presence on the internet, regularly updating information to introduce and sell products, with 80% of businesses taking orders online.