Experts stated at Techfest Vietnam 2021 that the size of Vietnam’s e-commerce market is growing strongly, and its current revenue has surpassed the US$11.8 billion in the entire year of last year. The event is an annual technology-focused conference. Held in Hanoi in November, it focuses on next-generation technological innovation and digital entrepreneurship. Nguyen Thi Thanh Thuy, head of the e-commerce department of Voso, the e-commerce platform of Vietnamese telecom operator Viettel, pointed out that the Vietnamese e-commerce market recorded the fastest growth rate in Southeast Asia last year and is expected to continue to grow in the recovery of the Covid-19 pandemic.. .
Experts said that the size of Vietnam’s e-commerce market is growing strongly, and its current revenue has exceeded the US$11.8 billion in the entire year of last year. Vietnam Technology Festival 2021.
The event is a technology-focused annual conference held in Hanoi in early November each year, focusing on next-generation technological innovation and digital entrepreneurship.
Nguyen Thi Thanh Thuy, head of the e-commerce department of Voso, the e-commerce platform of Vietnamese telecom operator Viettel, pointed out that the Vietnamese e-commerce market recorded the fastest growth rate in Southeast Asia last year and is expected to continue to grow during the recovery period of the Covid-19 pandemic. Vietnam news agency Report.
Last year, Vietnam’s e-commerce revenue was US$11.8 billion, an increase of 18% over the previous year.
Change consumer behavior
Experts say that the changed shopping behavior during the Covid-19 pandemic has created new consumer trends, manifested in the increased demand for online purchases through e-commerce platforms.
Among the 70% of the Vietnamese population who have access to the Internet, nearly 50% have already shopped online, and 53% use e-wallets and other online payment methods.
Challenges remain, including information security and logistics
However, experts pointed out that despite the new opportunities in e-commerce in Vietnam, the industry still faces many challenges, such as consumer mistrust when purchasing online products, delivery and payment issues, information security and transportation infrastructure.
In other words, growth will not only bring major opportunities for the industry, but also challenges, including the development of sufficient logistics platforms to meet growing demand.
Currently, only about 11% of enterprises in Vietnam are applying basic information technology related to tracking and tracing goods, delivery and warehousing systems. Another challenge is the lack of a legal framework for e-commerce logistics. Vietnam Science and Technology Festival Be told.
