A report by market research firm Statista highlights that Vietnam’s e-commerce market is currently dominated by major platforms such as Shopee, TikTok Shop, Lazada, and Tiki.

The e-commerce market in Vietnam recorded an impressive growth rate of 40% last year, reaching 13.82 billion USD in transaction value, according to a recent report by YouNet ECI, a leading firm in e-commerce market data analysis.

Vietnam’s e-commerce market is estimated at 22 billion USD this year, ranking third in Southeast Asia behind Indonesia (65 billion USD) and Thailand (26 billion USD).

The national e-commerce week will take place from November 25 to December 1, while the Vietnam Online Friday 2024 will run from the beginning of November 29 to noon of December 1, according to the Ministry of Industry and Trade. The events will be held on the national scale.

Vietnamese consumers spent 143.9 trillion (5.68 billion USD) buying 1.53 million items on five e-commerce platforms in the first half of this year, representing a rise of 54.91% and 65.55% over the same period last year, respectively, according market analysis firm Metric.

Vietnam and Thailand have emerged as the two fastest-growing e-commerce markets in Southeast Asia, according to a report recently released by OpenGov Asia, a content platform dedicated to sharing ICT-related knowledge and information to better serve citizens and customers.

Capturing and updating information and new regulations for business on risks in the e-commerce market place are extremely important, said Nguyen Duc Trung, Deputy Director of the Agency for Enterprise Development (AED) under the Ministry of Planning and Investment (MPI).

The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.

Vietnam’s e-commerce market is forecast to increase by 25% to 20 billion USD by the year’s end, according to a report on the Vietnam E-Business Index (EBI) 2023 conducted by the Vietnam E-commerce Association (Vecom).

Many women in Vietnam’s northern mountainous areas have become wealthy in recent years after running cooperatives and applying information technology. The dynamism of these women has helped create more jobs with good incomes for local people.

Vietnam can become the second largest digital economy in Southeast Asia in 2025, while the country’s e-commerce market will draw more large-scale businesses, forecast experts at an online seminar in Ho Chi Minh City on April 20.

Policies are needed to support local e-commerce platforms and counter the might of cashed-up international e-commerce giants entering the Vietnamese e-commerce market, said Chairman of Nextech, Nguyen Hoa Binh, who owned chodientu.vn.

Vietnam’s e-commerce market is forecast to continue growing strongly in the time to come thanks to a big population with high rates of young people and internet users.

Businesses should take advantage of both online and offline platforms to increase their ability to adapt to disruptions due to the COVID-19 pandemic, speakers said at an online seminar on May 15 in HCM City.

The e-commerce market in Ho Chi Minh City has developed significantly, with total online spending growth up by more than 12 percent annually since 2015, according to the municipal Department of Industry and Trade’s report on e-commerce development.

Vietnam’s e-commerce market is projected to grow at a compound annual growth rate (CAGR) of 16.3 percent from 9.4 billion USD last year to 17.3 billion USD in 2023, data analytics company GlobalData forecast.

The logistics sector is forecast to continue growing strongly this year, with expansion in both retail and e-commerce channels.

The Department of Agriculture and Rural Development of Hanoi has so far managed and granted administrative account codes for 2,527 for facilities, cooperatives, businesses and shops which trade safe food, agro, forestry and fishery products in the capital city.

The country’s biggest online shopping event, Online Friday, will return on December 6 with the participation of a large number of Vietnamese businesses and brands on various e-commerce platforms.

E-commerce is a potential goldmine for businesses over the next two years with a potential reach of 10 billion USD.