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E-commerce market in Vietnam to keep growing from $11.8 billion last year: Techfest



The size of the e-commerce market in Vietnam is growing strongly, with current revenue already having surpassed last year’s full-year figure of $11.8 billion, experts said at Techfest Vietnam 2021. The event is an annual technology-focused conference held at the beginning of November in Hanoi that focuses on next-generation technological innovation and digital entrepreneurship. Nguyen Thi Thanh Thuy, head of the e-commerce division of Voso, the e-commerce platform of Vietnam’s telecom operator Viettel, noted that the Vietnamese e-commerce market recorded the fastest growth rate in Southeast Asia last year and was forecast to keep growing in the Covid-19 pandemic recovery…

The size of the e-commerce market in Vietnam is growing strongly, with current revenue already having surpassed last year’s full-year figure of $11.8 billion, experts said at Techfest Vietnam 2021.

The event is an annual technology-focused conference held at the beginning of November in Hanoi that focuses on next-generation technological innovation and digital entrepreneurship.

Nguyen Thi Thanh Thuy, head of the e-commerce division of Voso, the e-commerce platform of Vietnam’s telecom operator Viettel, noted that the Vietnamese e-commerce market recorded the fastest growth rate in Southeast Asia last year and was forecast to keep growing in the Covid-19 pandemic recovery period, Vietnam News Agency reported.

Last year’s e-commerce revenue in Vietnam of the aforementioned $11.8 billion represented already a growth rate of 18 per cent over the previous year.

Changing consumer behaviour

Changing shopping behaviour during the Covid-19 pandemic has created new consumption trends which are manifested in higher demand for online purchases through e-commerce platforms, the experts said.

Of the 70 per cent of Vietnam’s population who have access to the Internet, nearly 50 per cent have already made online purchases and 53 per cent of the latter used e-wallets and other online payment options.

Challenges remain, among other sin information security and logistics

However, despite the new opportunities for e-commerce in Vietnam, the industry still faces many challenges such as consumer mistrust when buying online products, issues with delivery and payments, information security and transportation infrastructure, the experts noted.

That said, the growth would not only bring about major opportunities but also challenges for the industry, including the development of adequate logistics platforms to meet the increasing demand.

Currently, only about 11 per cent of businesses in Vietnam are applying basic information technology related to tracking and tracing goods, delivery and warehousing systems. Another challenge is the absence of a legal framework for e-commerce logistics, visitors of Techfest Vietnam were told.



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