The Gross Merchandise Volume (GMV) of Vietnam’s E-commerce market reaches 13 billion USD in 2021, accounting for 62% total value of the digital economy. The market promptly grows thanks to foreign investment capital, government’s incentive policies and improved internet access.
Vietnam E-commerce market in 2021
1. Vietnam is the third largest market in Southeast Asia in terms of digital transformation speed, only after the Philippines and Thailand. The total value of goods of Vietnam’s digital economy in 2021 reached 21 billion USD. In which, E-commerce accounted for 13 billion USD, Online Media made up 3.9 billion USD, Online Travel represented 1.4 billion USD and Transport & Food accounted for 2.4 billion USD.
By 2025, it is expected that the GMV of Vietnam’s digital economy will increase by 2.7 times, reaching 57 billion USD.
2. In 2021, the number of products purchased online by Vietnamese consumers increased by 50% compared with 2020, while the number of online retailers increased by 40%, resulting in the total of online retail sales rising 1.5 times.
3. In 2021, recording more than 69 million people – equivalent to 70% of Vietnam’s population using the Internet. That includes 53 million digital consumers out of a total of 350 digital consumers in Southeast Asia.
4. In 2021, 53% of Vietnamese digital consumers made a payment by e-wallets. This is the potential payment method in Southeast Asia.
5. In 2021, E-commerce spending accounted for 10% of the total retail spending of the Vietnamese market. It is estimated that by 2030, this number will reach 50%.
The positioning factors of Vietnam’s E-commerce market
Automated E-commerce Warehouses promoted in recent years in Vietnam. The automated warehouse market is estimated to reach $69 billion by 2025.
Vietnam is a potential technology resources country due to the dynamism, adaptability and prompt transformation of digital enterprises.
About Boxme: Boxme is the premier E-commerce fulfillment network in Southeast Asia, enabling world-wide merchants to sell online into this region without needing to establish a local presence. We deliver our services by aggregating and operating a one-stop value chain of logistic professions including: International shipping, customs clearance, warehousing, connection to local marketplaces, pick and pack, last-mile delivery, local payment collection and oversea remittance.