Vietnam e-commerce trends in 2021, sellers should take a quick look!

The epidemic has had a huge impact on Vietnam's traditional offline industries. Many companies and sellers have turned to online platforms, and this trend will continue in the future.

In this context, Shopee made three major predictions for Vietnam's e-commerce market in 2021, covering the fields of payment , logistics and digitalization. These three major e-commerce trends include: strengthening the application of digital payments , leading logistics services , and innovative retail strategies for brands and merchants.

1. Strengthen the application of digital payment

Digital payment trends are the most popular mode of transactions on e-commerce platforms. Hence, as the number of consumers continues to increase, the usage of digital payment apps will also increase.

Shopee recorded a three-fold increase in total orders paid via Airpay e-wallet in Vietnam , with the fastest growth among users aged 50 and above, demonstrating that the Airpay wallet ’s simplicity is suitable for all age groups.

AirPay said it doubled the number of partners in Vietnam in 2020 , including 7-Eleven , MyKingdom and Guardian, among others.

2. Leading logistics services

As consumers’ trust in e-commerce platforms and expectations for efficient delivery grow, logistics services are becoming increasingly important , as evidenced by the increasing demand for daily necessities and home appliances.

In Vietnam, Shopee recorded a three-fold increase in transactions for food, hygiene and household-related goods . Therefore, businesses and sellers need to use technology efficiently and reasonably to ensure that goods can be delivered in the shortest time and save costs as much as possible .

By 2020, Shopee Express had expanded its reach to all rural areas . Many businesses on the platform have made full use of the logistics infrastructure, increasing the number of items shipped from warehouses threefold .

At the same time, Lazada Vietnam has a comprehensive logistics infrastructure with 2 distribution centers , 2 automatic goods sorting centers , 70 distribution centers and about 700 delivery and receiving points.

The number of users on the Tiki platform has tripled since 2017 , and user spending on the platform has doubled. In addition, by 2020, their logistics costs per order had dropped by at least 25%, with a payment rate of only 1% .

3. Retail strategy innovation for brands and sellers

According to Shopee, the epidemic has prompted everything from high-end brands to small and medium-sized enterprises to quickly implement digital strategies in order to attract more users in this context.

For example, Shopee is working with brands to integrate its AI-based beauty technology solution Skin Advisor Live into the online shopping experience, allowing shoppers to experience personalized skincare analysis online for free and make more informed purchasing decisions.

Mr. Tran Tuan Anh, CEO of Shopee Vietnam , said that 2020 has special significance for e-commerce. Consumers are beginning to turn to online platforms to meet both basic needs and entertainment purposes.

The craze for streaming and mini-games will continue this year . During last month’s Chinese New Year shopping festival, Lazada ’s platform Lazlive saw more than six times the number of hits compared to the 2020 shopping festival.

According to the E-Commerce and Digital Economy Bureau, Vietnam's e-commerce grew by 18% in 2020. iPrice Group believes that under this development trend, e-commerce has opportunities, and e-commerce platforms must also constantly change to meet consumer needs , which will be a challenge .

Vietnam

Lazada