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Over half of Vietnam’s population expected to choose online shopping in 2025

The Saigon Times

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An online shopper visits an ecommerce platform to buy face masks. Vietnam aims to see 55% of its population shop online by 2025 – PHOTO: THE SAIGON TIMES

HCMC – Vietnam aims to see 55% of its population shop online by 2025, with average annual spending of US$600 per person.

Deputy Prime Minister Trinh Dinh Dung on May 18 signed Decision 645 approving a master development plan for ecommerce in the 2021-2025 period, which includes the target, the local media reported.

The master plan also targets an annual rise of 25% in ecommerce sales for business-to-customer (B2C) deals, at US$35 billion, accounting for 10% of the nation’s total retail sales of goods and services.

Apart from this, ecommerce support services and cashless payments are expected to serve 50% of the population, with the use of payment intermediary services making up 80%.

In addition to aiming for 80% of ecommerce websites to allow customers to place online orders, some 70% of transactions on shopping websites are expected to offer electronic invoices.

Hanoi and HCMC are expected to account for 50% of the country’s ecommerce transactions in the next five years.

Aside from this, the Government expects 50% of small and medium enterprises to develop online channels and 70% of water, electricity and telecom suppliers to use electronic contracts for consumers.

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