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The Saigon Times

Saigon Times Group is a leading Vietnamese media organization with prestigious business and consumer publications. After three decades of development, we have built a good reputation through our publications on economy, business and markets for Vietnamese and foreign readers.

Basic

Free

  • Free access to daily domestic news, podcasts and videos

Premium

$5 $1 /month
(VND 23,900)
Monthly Annual

  • Unlimited access to domestic news, podcasts, videos and magazine articles on current social / economic / trade / investment issues, commodity / financial/securities markets, M&A activity, FDI, local and foreign business communities and more.

AUTOMATIC RENEWAL REMINDER

  • Your payment method will then be automatically charged ₫ 899.000 every 365 days thereafter.
  • Your subscription will continue until you cancel.
  • You can cancel by using My account. Under My account, select "Unsubscribe" and then follow the instructions to cancel.
  • You can notify us of your intent to cancel at any time during your billing period. Cancellations take effect at the end of your current billing period.
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Sunday, June 1, 2025

Vietnam’s online retail sales hit US$13.7 billion in 2021

By Van Ly

Must read

HANOI – Vietnam’s overall online retail sales hit US$13.7 billion in 2021, up US$1.9 billion over 2020, according to the Vietnam E-commerce White Book 2022 released by the Vietnam e-Commerce and Digital Economy Agency.

The Vietnam E-commerce White Paper 2022 showed that online retail sales accounted for 7% of the total retail sales of consumer goods and services nationwide in 2021, increasing two percentage points year-on-year.

Compared to the US$6.2 billion figure in 2017, the online retail market doubled in size in just five years. It is estimated that Vietnam’s online retail sales will soar to US$16.4 billion this year.

The number of online transactions increased from 33.6 million in 2017 to 54.6 million in 2021. Some 58.2% of internet users bought a product or service online on a weekly basis in Vietnam, almost equal to the global average of 58.4%.

Cash on delivery was still the most common payment method for online purchases in 2021, followed by e-wallets, domestic debit cards and credit cards.

Within 11 years, the rate of cash payment for online purchases slightly declined from 78% to 73%. E-wallet payments increased from 23% to 37%, while payments via domestic debit cards fell to 27%.

Retailer reputation, delivery time, promotion programs, price comparison with brick-and-mortar stores, the variety of products and quality are among the most important evaluation criteria when an online consumer makes a purchase decision.

However, consumers have still faced difficulties with online shopping, including the lower-than-expected quality of products, personal information leaks, high delivery costs, poor customer service and bad delivery service.

According to the Vietnam e-Commerce and Digital Economy Agency, Vietnam’s internet economy was equal to that of Malaysia, exceeding the Philippines and Singapore in 2021.

Revenue of Vietnam’s internet economy reached US$21 billion in 2021 and is expected to shoot up to US$57 billion in 2025, ranking second in Southeast Asia.

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