Saturday,  Jul 21, 2018,18:37 (GMT+7) 0 0
Vietnam sees surge in e-commerce
By Hung Le
Friday,  Jul 6, 2018,18:59 (GMT+7)

Vietnam sees surge in e-commerce

By Hung Le

Suttisak Wilanan (L) shakes hands with Nguyen Ngoc Dung after signing a cooperation agreement on OnlineBiz Vietnam 2019 on July 5 - PHOTO: HUNG LE

HCMC – Domestic e-commerce growth is estimated at some 35% a year on average, according to a survey among enterprises in the sector, said Nguyen Ngoc Dung, vice chairman of the Vietnam E-commerce Association (VECOM), at a press conference on July 5.

Speaking on the introduction of a program, called, “OnlineBiz Vietnam 2019,” organized by VECOM and Thailand-based Reed Tradex, Dung noted that the growth rate of e-commerce in Vietnam was higher compared with other countries in the region.

The vice chairman of VECOM predicts the country’s e-commerce will grow further as more and more local customers turned more interested in online shopping, thanks to the increasing use of smartphones and the internet. The Government too supports the sector, Dung added.

Suttisak Wilanan, deputy managing director at Reed Tradex as one of ASEAN’s leading exhibition organizers, had high praise for Vietnam’s e-commerce market.

He stressed that startups in the country would get multiple opportunities to strengthen their businesses as Vietnam was in the early stages of e-commerce development.

Vietnam’s e-commerce retail sales are targeted to grow by 20% per year and generate an estimated revenue of US$10 billion in 2020.

Wilanan noted that Vietnam’s e-commerce sector was growing constantly, and the number of internet users as well as the value of e-commerce surged by 14% against last year. Vietnam’s e-commerce market holds high growth potential, thanks to a young population accounting for 70% of the total and high consumption demand, he asserted.

The launch of OnlineBiz Vietnam is aimed at supporting the event, “Shop and Store Vietnam 2019,” which will be held at the Saigon Exhibition and Convention Center (SECC) in HCMC’s District 7 from March 27 to 29, 2019, to serve online and offline retail customers.

The annual event is considered a business-to-business solution for retailers to catch up with the omnichannel retail trend.

This year's Shop and Store Vietnam 2018 was held at SECC at the end of March, drawing 70 brands from 18 countries around the world, with as many as 3,294 local and international partners from 24 countries. It featured new technologies, platforms and retail solutions, in addition to showcasing brands from multiple sectors, such as food, beverages, health and education.

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