During the epidemic, the number of new users of Vietnam's e-commerce platforms surged by 41%!

The number of new users of Vietnamese e-commerce platforms has increased by 41% since the outbreak , and most new users said they would continue to use this new way of shopping even after the epidemic is over.

During the epidemic, Vietnam's e-commerce achieved an astonishing growth of 18%, with a market value of US$11.8 billion, accounting for 5.5% of total retail sales.

According to a report by Adsota and SOL Premier , as many as 91% of new users of Vietnamese e-commerce platforms said they would continue to use these e-commerce platforms even after the epidemic is over . With such amazing growth, Vietnamese e-commerce has become an attractive market in Southeast Asia.

A report from the Vietnam E-Commerce Association ( VECOM) shows that Vietnam's e-commerce revenue reached approximately US$13.2 billion in 2020, with a growth rate of 15%.

Google, Temasek and Bain also predict that the average growth rate will reach 29% during the 2020-2025 period, and that Vietnam's e-commerce market will reach US$52 billion by 2025.

During the pandemic , Vietnamese consumers' behavior has changed. Traditional offline shopping activities such as supermarkets, stores or wet markets have decreased, and more consumers choose to shop at home .

In 2020 , Vietnam's e-commerce market saw strong sales growth in many product categories , especially necessities ( food , personal care), internet services, housing and utilities, and healthcare.

At the same time , spending on beauty and entertainment products and services has plummeted as some areas have implemented strict lockdown measures .

The pandemic has driven the development of more online platforms . In addition to online shopping , users can also use social networks and searches to research and compare products before shopping .

Adsota cited a Google study showing that as many as 83% of Vietnamese consumers carefully research online products before making a decision, and 69 % of them choose to use Google.

It is worth noting that according to experts, price is no longer the main factor affecting consumer shopping . Adsota said that consumers tend to save more, but they will not choose cheap products. Products with good quality and health benefits are more popular .

In terms of food, more than 60% of Vietnamese households use sugar-free or low-sugar beverages, according to the survey. Dairy-free products and related alternatives are also becoming increasingly popular, such as "nut milk" .

Vietnam

E-commerce