Vietnam's online retail market is expected to reach US$39 billion, with these categories attracting the most attention from consumers

According to the report, the scale of online retail in Vietnam has grown steadily over the past five years. In 2016, the scale of online retail in Vietnam was only US$5 billion. By 2019, this figure doubled to about US$10 billion. In 2021, the scale of online retail in Vietnam could reach US$13 billion. Citing data from Statista, the report pointed out that by 2025, the scale of online retail in Vietnam will reach US$39 billion.

In 2020, there were approximately 49.3 million online consumers in Vietnam, with an average annual consumption of approximately US$240 per person (an increase of 42% from 2016). In the first half of 2021, there were 8 million new online consumers, 55% of whom were from non-urban areas.

58% of Vietnamese consumers believe they will continue to buy groceries on e-commerce platforms, and 53% of consumers say online grocery shopping has become a normal part of life.

When it comes to choosing a platform for shopping, consumers consider the following factors: reputation of the e-commerce website and app ( 70%), frequent promotions (41%), consumer-friendly shipping policies (40%), cheap prices (39%), a wide variety of products (34%), good product quality (34%), easy order tracking (26%), easy access to the website and app (21%), good customer service (20%), and live shopping (8%).

On the Lazada platform, the most searched categories in 2021 are: clothing, personal care, interior decoration, food (such as breakfast cereal), garden supplies, kitchen supplies, games and puzzles, medical supplies, food supplements, school and office supplies.

In addition, to maintain the chances of growing online sales, sellers can also consider the following trend forecasts:

The first is the rise of social commerce. Sellers can use highly interactive content sales methods and direct communication with consumers, such as live broadcasts, virtual store experiences, and shopping entertainment activities, which will help drive sales.

Additionally, user-generated content will be more powerful than ever. With the rise of many high-engagement social media platforms and the trend of leaving comments, getting users to share more content /reviews related to your brand or product will help with sales.

Vietnam

E-commerce