E-commerce growth rate forecasted to be above 30 percent

The Vietnam e-Commerce and Digital Economy Agency under the Ministry of Industry and Trade on June 25 said that the country’s e-commerce growth rate exceeded 32 percent last year.
E-commerce growth rate forecasted to be above 30 percent

The scale of retail e-commerce of consumer goods and services was at US$11.5 billion last year.

The Vietnam E-commerce Association forecasted that the growth rate of e-commerce this year will continue to be maintained at over 30 percent and the scale of Vietnam's e-commerce will surpass $15 billion.

From early February to April this year, most socio-economic activities were stopped, but the e-commerce sector was still forecasted to be optimistic by experts. According to an analysis by the Vietnam e-Commerce and Digital Economy Agency, the Covid-19 pandemic is considered as a catalyst to change consumer behavior. Vietnamese consumers still keep optimism and quickly shift to the online shopping channel.

Currently, enterprises in the e-commerce sector have almost been able to maintain their staff in the peak-three months of the Covid-19 outbreak, and are likely to increase their personnel shortly. Noticeably, the e-commerce index in recent years showed that most of the e-commerce activities took place in two big cities, namely Hanoi, and Ho Chi Minh City. In 2019, Hanoi and Ho Chi Minh City accounted for over 70 percent of electronic transactions while only accounting for 18 percent of the population.