Customer Support. The e-commerce market in Vietnam has yet to become a major threat to bricks-and-mortar sales. In Southeast Asia, Indonesia’s unicorn Bukalapak has also been restructuring its company by laying off its workforces due to incoming demands from investors. This strong growth has set high demand for e-commerce logistics and the industry expected to reach an average growth of 42 percent every year until 2022. Vu Dinh Anh, a respected economist, has pointed out that in many cases, investors decide to buy shares of equitized enterprises because the enterprises have many land plots in advantageous positions, or ‘golden land’. Data from the National Payment Corporation of Vietnam (via International Finance) suggests a 76% growth in online transactions during the first few months of 2020… Here are three predictions on where Vietnamese e-commerce might be heading towards, according analysts from e-commerce start-up iPrice Group. The 2020 report on Southeast Asia’s Internet economy, released Tuesday by Google, Temasek and Bain & Company, surveyed six Southeast Asian countries: Vietnam, Thailand, the Philippines, Malaysia, Singapore and Indonesia. Consumers in Vietnam spent roughly US$6 billion on online purchases in 2018, more than US$1 billion higher than the total for the previous year. Asia and its highly celebrated unicorns are especially vulnerable to these changes. Within Southeast Asia, Vietnam's e-commerce market value was estimated to reach around 13 billion U.S. dollars in 2020, ranking it only after Indonesia, Thailand and Singapore. 6. E-commerce in Vietnam - Statistics & Facts Published by Statista Research Department, Apr 23, 2020 The internet economy in Southeast Asia was predicted to … According iPrice’s Map of E-commerce Q3 2019 Report, Vietnamese consumers are responsible 31% of all e-commerce traffic in Southeast Asia, presenting a 5 percentage points increase year-over-year. The taxation body needs to ‘nurture sources of revenue’ rather than bleed businesses dry, businesspeople say. Vietnam E-Commerce Report 2009 i FOREWORD After 4 years’ implementation of the Master Plan on E-commerce Development for the 2006-2010 period approved by the Prime Minister at Decision No. 2015 2016 2020 4.07 5.1 10. Other examples include Telio, a business-to-business platform which raised US$25 million in a series A funding round last December, Leflair, which raised US$7 million back in January to invest in regional expansion. Dublin, Feb. 27, 2020 (GLOBE NEWSWIRE) -- The "Asia-Pacific Cross-Border B2C E-Commerce 2020" report has been added to ResearchAndMarkets.com's offering. All the charts, data, and insights you need to understand internet, social media and mobile use across the Indochina region in December 2011. Career Opportunities; Fellowships. This report clarifies the latest consumer behaviors in online shopping as well as their preference of the channels to see how the brand could market their products online. 57/2006/ND-CPonE-commerce Circular No.09/2008/TT-BCT guiding the E- ... Vietnam E-Commerce Status_Ninh Hoang (Viet Nam) Author: PPrayongsap The Map of E-Commerce ranks Vietnam's top 50 e-commerce players based on their average quarterly traffic, mobile application ranking, social media followers and … The MoIT’s survey revealed that 40 percent of online shoppers were not satisfied with e-commerce platform delivery services. A 2019 report by Google and the Mobile Marketing Association identified Vietnam as a "mobile-first market" with "over 51 million smartphones, representing over 80% of … In 2018, Vietnam E-commerce continued to develop comprehensively with a growth rate of over 30%. In this report, we explore the drivers of growth in Vietnam… ... E-Commerce Industry 2020 - Vietnam Market Research & Statistics. Following the previous post about Vietnam digital marketing landscape, today post will look at e-commerce landscape in Vietnam, in comparison with other countries in the region for better context.. 1. It seems that as technologies and infrastructures supporting e-commerce, such as online payments, logistics and customer relationship management tools are becoming more advanced and accessible, it is now easier than ever for SME in Vietnam to join the e-commerce game. If you want to share your story, publish a press release or just want to ask something, contact Vietnam Insider via firstname.lastname@example.org, Copyright © 2020 Vietnam Insider. A lot of events happened in 2019, including merger and acquisitions (M&As). Last December, Indian ride-hailing company Ola reduced overall staff strength by 5% to 8%. Although the local e-commerce market witnessed several giants like VinGroup and Lotte pull the plug on their e-commerce platforms Adayroi and Lotte.vn in 2019, it remains attractive. ... Join Episerver and Columbus on 9th December at 10am and prepare to question your B2B e-commerce … Vietnam will likely have to increase coal power to ensure stable and affordable power supply. Most of the new digital consumers in Vietnam (74 percent) are from metro areas, the report says. 222/2005/QD-TTg dated 15/09/2009 (Decision 222), Vietnam e-commerce have substantially grown and gradually come into life, contributing to the nation’s overall development. According to a study by iPrice and Parcel Perform, 34.1% of e-commerce users in Southeast Asia are still unsatisfied with the quality of parcel delivery services they got. By: eMarketer Published: November 21, 2016 In a bid to promote trade via e-commerce platform, the MoIT has teamed up with Amazon Global Selling, giving Vietnamese sellers opportunities to ship their products abroad as well as access directly 300 million buyer accounts of Amazon’s international markets. Vietnam needs policies encouraging the development of cocoa trees with a focus on productivity and quality instead of output for the sustainable development of the cocoa industry. E-Commerce in Vietnam: Trends, Tax Policies & Regulatory Framework In this issue of Vietnam Briefing Magazine, we provide readers with a complete understanding of Vietnam’s e-commerce industry. The market has witnessed the entrance of many large players in recent years, with lotte.vn and aeoneshop.com joining in early 2017 alone. 8 “COVID-19: Vietnam’s consumer changes & retail movements”. Minister of Industry and Trade Tran Tuan Anh said that the ministry will promote the responsibility of e-commerce platform owners in the removal of fake products and those violating intellectual property rights in 2020. I Email: email@example.com. Experts are upbeat about Vietnam’s post-pandemic economy, urging enterprises to grasp opportunities arising from new trends, such as digital transformation, energy infrastructure development. Ten years later, Tiki is the one of the top e-commerce platforms in Vietnam, says Tran. Why foreign expats enjoy living in Thao Dien, District 2 . More than 4.5 billion people now use the internet, while social media users have passed the 3.8 billion mark. Vietnam EC Market 2019-2020 Vietnam EC market grows as double as the growth of the offline retail market. Also, report offers latest trends, growth rate, top players, forecast to 2025. HCM City students back to school after improved... Vietnam’s Covid-19 hot spot under control, says Deputy... Vietnam arrests 8 officers for colluding with drug... HCM City students back to school after improved Covid-19 situation, Vietnam’s Covid-19 hot spot under control, says Deputy PM, Vietnam surpasses Singapore and Malaysia to become the 4th largest economy in Southeast Asia: IMF, Vietnam to start testing COVID-19 vaccine on humans next week, Vietnam waives 14-day quarantine for Korean business travelers, More people in HCM City fined for not wearing face masks. Investors have become more cautious than ever and want to make sure that they are putting money into companies that have real potential and sustainability. The trend of e-commerce development differences between slow-growing regions and developed regions is increasing. Teddy Oetomo, their chief strategy officer said it loud and clear: “Our focus is no longer growth, but to build a sustainable company”. As the market continues to grow, it becomes increasingly clear that th… Get Reports. The new Tiki strategy has levelled up the standard of delivery services in Vietnam. Download e-Conomy SEA 2020 Report While 2009 marks the downfall of some e-commerce businesses in Vietnam, it also marks the emergence of other smaller but more effective e-commerce businesses. But with a young population rapidly embracing mobile commerce, and a double-digit sales growth prediction to 2021, it is a market that should not be ignored by merchants on the hunt for up-and-coming e-commerce markets. Consumers in Vietnam spent roughly US$6 billion on online purchases in 2018, more than US$1 billion higher than the total for the previous year. On the off chance that you are, GoodFirms presents to you a rundown of Top E-Commerce Development Companies from Vietnam, that can … The speed of product delivery is increasingly important as is the quality for both customers and merchants. 3 Insights into 2020 Prospect of Vietnam’s E-commerce, Vietnam arrests 8 officers for colluding with drug…, A 90-year-old grandmother is first in the world…, Students in Ho Chi Minh city heading back…, Good news: All contacts of new local COVID-19…, Hotel shut down after hosting Chinese nationals illegally…, Saigon-Hanoi Bank named Bank of the Year Vietnam…, Vietnam banks continue cutting deposit interest rates, Stocks climbs on strong money flow, gold surpasses…, Vietnam textiles and garments industry faces great losses…, Vietnamese investors poured a total of 490.4 million…, Can foreign investors hold shares of petroleum distribution…, Acecook is to open Vietnam’s first instant-noodle buffet…, Sweden proposed funding worth $2 billion in order…, GrabBike riders strike over increased commission rate, Coffee chains in Vietnam launch mobile stores amid…, Leading suggestions to enjoy the upcoming Christmas holidays…. Top E-commerce Development Companies in Vietnam Are you hunting down lists for Vietnamese e-commerce developers? Purchase the E-Commerce in Vietnam country report as part of our internet retailing market research for March 2020. Another e-commerce website that is to be shut down is Adayroi with a notice of shifting to the new retail model. E-commerce is playing an increasingly important role in the economy as revenue from the e-commerce sector accounted for 4.2 percent of the total retail sales, up 0.6 percent from the previous year. The report said e-commerce has driven significant growth in Việt Nam, at 46 per cent, alongside strong growth across most sectors, except for travel. This report clarifies the latest consumer behaviors in online shopping as well as their preference of the channels to see how the brand could market their products online. Get the latest trends and understand the impact of the crisis on the market. Once dreaming of becoming a university lecturer, Nguyen Thi Phuong Thao finally became a businesswoman and billionaire. With a rapid and continuous growth since 2015, it is believed that the target of $10 billion dollars of enterprises with consumers by 2020 which is stated in the E-commerce Development Master Plan for 2016 – 2020 period will be met. Legal framework for e-commerce, information technology, cyber security. behaviours. : +84 (0)8 3823 9515, Fax: +84 (0)8 3823 9514, Email: firstname.lastname@example.org With a rapid and continuous growth since 2015, it is believed that the target of $10 billion dollars of enterprises with consumers by 2020 which is stated in the E-commerce Development Master Plan for 2016 – 2020 period will be met. Most notably, Vietnamese e-commerce platform Tiki introduced TikiNow, a shipping policy that promised to deliver products within 2 hours. Get digital trade insights per country. Looking at 2020, delivery infrastructures will continue to play an important part in consumer’s choice and a focus of competition between companies. Get Help with Trade Problems Report a Foreign Trade Barrier Foreign Trade Remedies Foreign Safeguard Activity Involving U.S. Exports U.S. Products Subject to AD/CVD Measures FAQs Boards Global retail ecommerce sales will decelerate to a 16.5% growth rate in 2020. We begin by highlighting existing trends in the market, paying special attention to … Vietnam is the second fastest growing e-commerce market behind Indonesia according to the e-Conomy report by Google and Temasek. Vietnam likely to achieve 3% growth in 2020: PM Wednesday, December 2, 2020 | 20:16:00 (VOVWORLD) - Vietnam with strong efforts and determination can achieve a growth rate of between 2.5% and 3%, becoming the only economy in the region with a positive growth, Prime Minister Nguyen Xuan Phuc said on Wednesday. There are many more fast-growing start-ups like those three within the Vietnamese e-commerce sector. Over the last four years, approximately US$1 billion in funding has poured into Vietnam's e-commerce sector. The company is now setting its eyes on becoming a one-stop solution for Vietnamese consumers’ one-hour delivery needs. Digital, mobile, and social media have become an indispensable part of everyday life for people all over the world. Monitor the impact on your business. Here are three predictions on where Vietnamese e-commerce might be heading towards, according analysts from e-commerce start-up iPrice Group. Last year, the MoIT successfully organised the Online Friday event to promote the development of e-commerce and digital economy in Vietnam. Thirdly, Vietnam has also ratified a landmark trade deal with the European Union (EU) on 29 June, 2020. The size of Vietnamese e-commerce market is likely to hit 13 billion USD this year thanks to a large percentage of young residents and internet subscribers, according to insiders. Noticing the high demand among e-commerce consumers for speedy and timely delivery, Vietnamese top e-commerce companies are currently racing to improve its delivery speed using various strategies. ISEAS PhD Scholarship; ISEAS-MUIS Masters Scholarship; K S Sandhu Graduate Scholarship; Tun Dato Sir Cheng Lock Tan MA Scholarship; Information Kit on Relocation to Singapore; Centres. With that starting point, 2020 promises to be an especially exciting year for Vietnamese e-commerce. According to Vietnam’s E-commerce and Information Technology Agency (VECITA), by 2015, B2C e-commerce sales will amount to more than US$4 billion. The Map of E-Commerce ranks Vietnam's top 50 e-commerce players based on their average quarterly traffic, mobile application ranking, social media followers and … Lotte.vn, a Vietnam-focused online marketplace by Lotte will be shut down with the plan of changing their retail strategy. behaviours. All rights reserved. 5 highlights from the Vietnam Ecommerce Report 2020 will be exploit in this article. Even as consumers transitioned en masse to ecommerce during the pandemic, the drag caused by multiple recessions internationally has reduced the overall outlook. Another reason for the drop in traffic is the small number of grocery-focused websites in Vietnam. Shopee offers delivery in four hours, and Sendo took it one step further by offering delivery in three hours. People fear that their bank account information may be leaked. Talk to Sam +1 718 303 2384. Tel: 024 3772 7988 Fax: (024) 37722734, Email: email@example.com, 06/01/2020 racing ahead The e-Conomy SEA 2020 report by Google, Temasek and Bain & Company, now in its fifth edition, looks into the digital economies of Southeast Asia. Travel purchases made up the majority of total spend (59 percent), with Vietnam’s e-travel sector worth close to … Industries. Looking at the remaining major e-commerce players in the country, it’s easy to see that most of them are reliant on investors’ money. M&A activities in the banking sector are set to heat up in 2021, when the Covid-19 pandemic is fully contained and the majority of Vietnamese banks have completed their restructuring processes. Vietnam e-commerce insights. Vietnam’s e-commerce market trends: Confident growth predicted for youthful nation . Meanwhile, the Ministry of Industry and Trade (MoIT)’s E-commerce White Book 2019 showed that the nation’s e-commerce market was growing at its fastest pace in the recent three years. Vietnam Insider is a fast-growing media site with deep finance, enterprise, tech, travel, life and other industry verticals in Vietnam. Vietnam has continued to bring public debt under its control, thus ensuring financial security for the country. Everybody in the business world knows what happened to WeWork in 2019 and how it has affected investors’ confidence. Current sales are estimated to be around US$2.2 billion, with an average spending of US$120 per capita. While the coronavirus has boosted sales of daily necessities, Tran Hai Linh, CEO of Sendo, noticed that Vietnamese shoppers are also more cautious in terms of spending. 07:19 In 2018, Amazon entered the Vietnam market to help Vietnamese small and medium enterprises(SMEs) export their goods. Besides, the platforms’ management policies have not kept up with the development of new business models, particularly those based on digital technologies. Grow your ecommerce business without its complexity through our unified platform. Data from Q&Me 2019 Research in Vietnam shows fast delivery is still firmly among top 5 reasons for online shopping coming into 2020. And in Vietnam, this trend is taking shape in 2019 with two e-commerce companies closing their online marketplaces to focus more on profitable business sectors. Meanwhile, online business models are flourishing and management agencies have found it hard to manage their operations. Multiple banks have recently worked out plans to issue shares, pay bonuses and dividends in shares and sell shares under the employee stock ownership plan (ESOP). Global B2C E-commerce Industry September 2020 $ 5450 Global E-commerce Payment Industry July 2020 $ 4950 E-commerce Plastic Packaging Market - Growth, Trends, Forecasts (2020 - 2025) August 2020 $ 4250 The Environmental Impact of E-Commerce 2020 January 2020 $ 2150 Investors have become more cautious than ever and want to make sure that they are putting money into companies that has real potential and sustainability for the future. According to VECOM’s report, Vietnam’s e-commerce index scored an average of 40.3 points in 2019, an increase of 2.8 points over 2018. In 2018, Vietnam E-commerce continued to develop comprehensively with a growth rate of over 30%. The new regulation that clients’ information will be shared by 30 commercial banks with taxation bodies has stirred up the public. Part II: Vietnam’s policies to promote e-commerce • The third E-Commerce Development Master Plan for the period of 2016 – 2020 (Decision 1563) • Vietnam National E-commerce Development Program 2014 - 2020 (Decision 689) Online Friday – The Online Shopping Day Key Pay – The E-Commerce … Vietnam EC Market 2019-2020 Vietnam EC market grows as double as the growth of the offline retail market. One notable start-up among them is Lozi. However, several experts believed that there are many shortcomings of the e-commerce sector, including poor infrastructure, long delivery time, complicated customs procedures, high costs, and asynchronous order retrieval services, among others. Vietnam is listed among only five countries on the rankings that are expected to enjoy economic growth in 2020. Measures to manage, supervise and protect e-commerce consumers will be carried out comprehensively, Anh stressed, adding e-commerce infrastructure will be developed including national e-commerce payment system and payment centre. The great potential of Vietnam’s e-commerce sector can be seen via its enormous expansion, which is predicted to reach US$15 billion in terms of revenue in 2020. 2019 was a year of many surprises for the Vietnamese e-commerce sector: new ambitious players joining the heated competition, previously formidable companies abruptly leaving the market, and strong positive movements from the big brands. According to VECOM’s report, Vietnam’s e-commerce index scored an average of 40.3 points in 2019, an increase of 2.8 points over 2018. In 2019-2020, Vietnam’s e-commerce, online media, transport and food sectors have grown, while the online travel services sector fell. Kantar. In addition, the ministry will work to connect training facilities and enterprises to ensure sufficient supply of quality human resources for the e-commerce sector./.VNA. Includes close analysis of the contextual stories behind the numbers, as well as the complete Digital 2011 country reports for Vietnam, Cambodia, and Laos. 16 However, it is still dwarfed by bricks-and-mortar retail in Vietnam, with e-commerce accounting for just five percent of total retail. ... Reimagining Commerce Report 2020. Vietnam needs US$150 billion to invest in power projects in the next 10 years, equal to half the country’s current gross domestic product (GDP), which raises demand for international financing. As consumers’ needs for online shopping increases, so will their sophistication and expectation. Notably, e-commerce traffic growth in Vietnam ranks second in Southeast Asia, just behind Indonesia. Access new updated reports and statistics for the E-Commerce Industry in Vietnam. The Vietnam E-commerce Association forecast that the value of online trade will grow more than 30% in 2020, surpassing $15 billion, driven in part by the pandemic. 1. THIS year’s Indo-Pacific Business Forum, organized by the US government, the US Chamber of Commerce and the Vietnam Chamber of Commerce and Industry, brings together senior government representatives, private sector CEOs, and representatives of … According to the report e-Conomy SEA 2019 announced by Google and Temasek, Vietnam’s e-commerce market is currently valued at 5 billion USD, with an explosive growth of 81 percent. IQsuite facilitates brands’ operations by offering a broad collection of toolsets to service all business units including accounting, merchandizing, performance marketing, account management, fulfillment and logistics, omnichannel order management, and business intelligence. Indeed, the rise of e-commerce and digital retail channels in Vietnam is one of the top trends to watch: by 2025, Vietnam’s e-commerce market size is expected to be second only to Indonesia in the Southeast Asia region. If the e-commerce … This growth was supported by expansion in both the government and corporate bond segments, stated the ADB. Another important factor is the increasing demand for online shopping among Vietnamese. Apple-converted-space recently had to let go of thousands of employees. The Vietnamese consumer-to-consumer ecommerce portal announced last October that it has secured an eight-digit funding (in US dollars). Law on electronic transactions Decree No. It will submit to the Government a master plan on e-commerce development during 2021-2025, and encourage local enterprises to develop state-of-the-art technologies to improve their competitive edge. GMT+7, 2019 retail market: Vingroup, Auchan leave, e-commerce websites shut down, Lotte.vn shuts down as major players in e-commerce continue to dominate, Vietnam among most resilient economies in Covid-19, New regulation on temporary tax payments worries businesses, Vietnam banks remain attractive options for foreign investors, Bottlenecks in Vietnam’s renewable energy development, E-commerce serves as a gateway for Vietnamese exports, Vietnam bond market posts strongest growth among emerging East Asia in 9 months, Continuing to provide advantages for US investors, Tight control of debt safeguarding finances, Budget rise to cushion country’s growth hopes, Vietnam needs focus on quality cocoa: experts, International financing key to develop Vietnam's power sector, Experts upbeat about VN’s post-pandemic economic recovery, urging firms to focus on new trends, Investment funds to pour US$ 815 million in Vietnamese start-up businesses, Foxconn to inject US$270 million to expand production in Vietnam, SOE equitization: investors attracted by ‘golden land’ holdings, Millions of taxpayers worry about leaks of bank account information, The turning points in the lives of Vietnamese billionaires, Industrial property continues dominating Vietnam’s 2020 real estate sector, Foreign investors still dominate Vietnam’s M&A market, Boss Thuy maked impressive comeback, boss Duc gets rich quickly, Vietnamese artists win prestigious Mnet Asian Music Awards, Che Can Village, an intriguing destination of Dien Bien, Tax administration of personal transactions with YouTube, Facebook, Google, Amazon to be tightened, Local COVID-19 vaccine trials seek 20 volunteers. Ecommerce in Vietnam. More than 4.5 billion people now use the internet, while social media users have passed the 3.8 billion mark. A study by the Institute for Global Leadership under the US-based Tufts University in 2018 showed that Vietnam ranked 48th out of 60 countries globally in terms of switching to a digital economy. Travel purchases made up the majority of total spend (59 percent), with Vietnam’s e-travel sector worth close to US$3.5 billion in 2018. E-commerce Index of Vietnam’s Provinces and Cities in 2019. e-commerce. * Note : Kantar e-Conomy SEA 2020 primary research commissioned by Google, Research was conducted in Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam. Get the annual Episerver report on over 4,000 consumers’ online shopping habits and learn how to deliver the customer-centric digital experiences they want. Post-Covid world later, Tiki is the increasing demand for online shopping among Vietnamese management staff a... 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