Ecommerce growth to run ahead of schedule
Ecommerce growth to run ahead of schedule
Vietnam will see revenue from the ecommerce sector amount to US$13 billion by 2020 instead of the US$10 billion target set for the 2016-2020 ecommerce growth plan if its current growth rate remains unchanged, the Vietnam Ecommerce Association told the Vietnam Online Business Forum 2019, which was held on March 26.
In 2015, the domestic ecommerce sector earned some US$4 billion in revenue, but the figure nearly doubled to US$7.8 billion in 2018. Statistics show that ecommerce growth reached 30% in 2018.
Speaking at the event, some experts attributed the rapid growth of the domestic ecommerce sector to the gradual emergence of the market, attracting new investment from multiple enterprises.
However, in Vietnam, the most popular method of payment is cash on delivery, while the number of customers paying online is small due to a lack of confidence in sellers. Many buyers are worried about the quality of products that do not match what was advertised by the online store.
At the forum, the association also published the Vietnam Ecommerce Index 2019. Five provinces and cities taking the top spots on the index were HCMC, Hanoi, Haiphong, Danang and Binh Duong, while Bac Can, Lang Son, Tuyen Quang, Binh Phuoc and Kon Tum provinces held the worst positions.
The Vietnam Ecommerce Index 2019 indicates that the gap in the ecommerce growth between cities and provinces remains wide. HCMC took the lead with 87.2 points, while Bac Can Province had 25.4 points in ecommerce growth.
