E-commerce revenue reaches 13.2 billion US dollars! Vietnam's e-commerce market will continue to grow in 2021

Many analysts claim that Vietnam's e-commerce will continue to grow in 2021, and the Vietnam E-Commerce Index 2021 was also released at a conference held on April 20.

A representative of the Vietnam E-Commerce Association (VECOM) said that currently, Vietnam's e-commerce is mainly concentrated in Hanoi and Ho Chi Minh City, the two largest economic centers.

Several experts predict that Vietnam's e-commerce will develop rapidly between 2021 and 2025, with a compound annual growth rate of 29%, and Vietnam's digital economy will reach US$52 billion by 2025.

The latest report on the Vietnam E-Commerce Index 2021 released by the National E-Commerce Association ( VECOM) stated that Vietnam's e-commerce sales reached US$13.2 billion in 2020 .

Previously, according to VECOM data, Vietnam's e-commerce market grew from US$4 billion in 2015 to US$11.5 billion in 2019.

In 2020, businesses have become more active and adaptable to online business, and online consumption has grown faster than ever before. This also explains the amazing growth of Vietnam’s e-commerce market.

The report points out that among the fastest growing market segments, the following markets have more concerns about growth toxins ↓

Online retail sales ( +46%), ride-sharing and food shopping (+34%), and online marketing, entertainment and gaming (+18%).

As the e-commerce market continues to grow, Vietnam's logistics industry has also grown strongly.

In JLL's forecast for Vietnam's warehousing-related logistics industry , the logistics of the domestic market supply chain will grow faster and faster with the development of e-commerce.

Despite the short-term impact of the COVID-19 outbreak, JLL ’s Asia Pacific Logistics Report shows that the key trend among investors remains the logistics sector.

The growth of e-commerce in Vietnam has also led to a high demand for logistics warehouses. It is estimated that the logistics space for e-commerce in Vietnam will be 3 times larger than it is now. Currently, the total warehouse area in Vietnam is about 4 million square meters, of which 880,000 square meters are in the north and 3,033,000 square meters are in the south.

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