30% of Vietnamese to shop online by 2020

Sep 22nd at 10:47
22-09-2015 10:47:58+07:00

30% of Vietnamese to shop online by 2020

At a meeting on September 18 to launch Vietnam’s e-commerce policy, Mr. 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 per cent of Vietnamese people will shop online by 2020.

He added that, with such numbers, annual e-commerce sales will reach an average of $350 per person.

B2C (Business-to-Consumers) sales will also increase 20 per cent by this time, reaching $10 billion and accounting for 5 per cent 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 per cent of total global retail sales and reaching about $850 billion in 2018.

In Vietnam e-commerce is expected to reach $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, Mr. Linh believes.

The draft plan for e-commerce development in the 2016-2020 period has a target of approximately 60 per cent of businesses having a presence on the internet, regularly updating information to introduce and sell products, with 80 per cent of businesses taking orders online.

vietnamnet



NEWS SAME CATEGORY

VN optimistic about economic growth, even if oil prices fall

The Vietnamese economy is projected to continue recovery in the four remaining months of the year, bolstered by Government efforts to maintain macro-economic...

Lawmakers discuss lessons drawn from 8 years of Vietnam’s entry into WTO

Vietnam’s lawmaking National Assembly held a hearing on Friday to discuss what the country has achieved after eight years of entry into the World Trade Organization...

Bloomberg: Vietnam among top 5 emerging markets

An article in Bloomberg on September 17 said that investors would do well to look at much smaller countries around the world, with Central Europe providing a...

Retail & Franchise Show 2015 for November

The Vietnam International Retail & Franchise Show 2015 (VIETRF) will be held from November 5 to 7 at the Saigon Exhibition and Convention Center in District 7, Ho...

A decade of passion to bring McDonald's to Vietnam

CEO of McDonald's Vietnam, Mr. Henry Nguyen, told local media about his ten-year plan to bring McDonald's to Vietnam.

Lotte makes bid for vital rail route

Lotte Engineering & Construction, part of South Korean conglomerate Lotte, has submitted a document to the Ministry of Transport expressing its interest in...

TPP potential paves the way for US investments

A wave of American investment is hitting Vietnam’s shores in anticipation of benefits from the Trans-Pacific Partnership.

Billions to modernise VN's railway

The modernisation of Viet Nam's railway system is projected to cost about US$5.1 billion, experts said during an event on detailed plans to upgrade the 1,726 km...

Can Gio company eyes $235m bridge

The Can Gio Urban and Tourism JSC has sought approval from the HCM City People's Committee to do a feasibility study to build a bridge over the Soai Rap River...

Vietnam unveils $9bn railway revamp plan to 2030

The Vietnamese railway system is set to be given a complete overhaul in the next 15 years under a two-phase revamp plan that costs a whopping US$9.11 billion in...


MOST READ


Back To Top