International media has many articles about the potential of Vietnam’s e-commerce market, which is considered ‘peaceful’ amid the headwinds of the global economy.
Vietnam is expected to be among the top three countries attracting the most e-commerce investors, and by 2025, its e-commerce market size could be comparable to traditional retail… there are many positive prospects for Vietnam’s e-commerce market as evaluated by international organizations.
A Southeast Asia startup and investment website has a specific analysis of the Vietnamese psychology in both buying and selling with the title “Online shopping pleasure: Discover the e-commerce paradise of Vietnam”.
Social networks, short clips, and livestreams have a powerful influence on a significant portion of young people who are shopping online. They like to experiment with new things, are willing to introduce them to friends, and save money by buying in bulk.
However, at the end of the article, the author notes that although Vietnamese consumers like to shop online, it is important to emphasize that most of what they buy is low-priced due to concerns about product quality and safe payment methods.
Vietnam’s e-commerce development is fast-paced, as shown by the numbers. China’s Xin Chao Vietnam website states that 50% of Vietnamese companies have a high rating on the Alibaba e-commerce platform.
According to the latest report from Amazon Global Selling Vietnam, in 2022, the number of Vietnamese sellers on Amazon increased by over 80%, and the value of exports increased by over 45%. However, the number of Vietnamese sellers is still small compared to the 300 million customer market.
Many articles affirm that Vietnam’s e-commerce market is stable amidst global economic recession. It is forecasted that Vietnam’s e-commerce market could reach 32 billion USD by 2025 with many untapped potentials.
“I believe that Vietnam’s e-commerce market will be stable because compared to Europe and Japan, Vietnamese people adapt to technology very quickly, such as online payment. In addition, factors such as Vietnam’s young population or expensive rental costs in big cities will make online commerce a solution.
Vietnamese consumers are benefiting the most from a fair market. Made-in-Vietnam platforms should analyze and learn from their practices and find their own strengths to become more competitive in this field,” said Mr. Filipo Bortoletti – Representative of Dezan Shira & Associates in Vietnam.