VN e-commerce sales expected to soar in 2015
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Vietnamese e-commerce sales are expected to hit more than US$4 billion in 2015, thanks to growing Internet users, reports the Vietnam e-commerce and Information Technology Agency (Vecita).
According to Vecita, which is under the Ministry of Industry and Trade, the value of e-commerce sales in Vietnam was estimated at $2.2 billion with an average spending of $120 per capita last year.
Vietnam currently has more than 30 million internet users.
In the report, Vecita forecast that by 2015 Vietnam will have between 40-45 per cent of its population using the internet.
With the rapid pace of economic development and the growing trend in internet use, a Vietnamese is estimated to spend at least $150 on e-commerce purchases per year, bringing an estimated revenue of $4 billion in 2015, Vecita said.
With a population of 93 million, if 70 per cent of internet users shopped online it would generate annual revenue of about $4.3 billion.
If the figure were 65 per cent, $4.08 billion in revenue would be generate.
The percentage of online shoppers via applications installed on mobile devices reached 6 per cent in 2013.
Of the total online shoppers, 59 per cent are women and 41 per cent are men.
In terms of occupation, managers and state employees are most regular online buyers, accounting for 41 per cent of the total number of online purchases.
According to the report, they are usually pressed for time and that is why they shop online so much.
This group is followed by students (37 per cent) and those directly involved in business and production activities (7 per cent).
The major products sold online were fashion and beauty followed by furniture and electronics technology, home appliances and airfares.
In Vietnam, cash-on-delivery remains the most popular payment method used by clients after they ordered products online, followed by banks transfers, card payment accounts, scratch cards, and electronic wallets (an e-commerce payment gateway provided by a third party).
