Many customers were enthusiastic about online sales and live broadcasts. Tens of 1000’s of individuals like and share posts on Facebook, and tens of millions of individuals watch YouTube channels.
Instead of visiting stores, consumers can order quite a lot of things online, from expensive items to on a regular basis items.
The village of Vu Dai, known for its fish stew, is situated in Ha Nam Province within the north, but local residents can now sell fish to consumers across the country, including the south, due to e-commerce.
The increase within the number of individuals shopping online (from 30.3 million in 2015 to 54.6 million in 2021) and the common value of purchases per capita (from $160 in 2015 to $251 in 2021) demonstrates a robust development of e-commerce in Vietnam.
Analysts predict that by 2022, this number will increase to 57-60 million buyers and $260-285, respectively.
In its reports on the Vietnam e-commerce enterprise index, the Vietnam E-commerce Association (Vecom), which conducted a survey of 6,582 firms in 2021-2022, found a gradual increase within the variety of enterprises selling products through social networks, from 28% in 2015 . to 57 percent in 2021
The percentage of enterprises using e-commerce platforms increased from 13% to 22%.
To increase sales, firms have created quite a lot of business channels. B2B e-commerce is growing in popularity, although at a slower pace than B2C.
The percentage of enterprises accepting orders via e-commerce platforms increased from 13% in 2018 to 29% in 2020.
In 2021, over 88 surveyed firms confirmed orders via mobile sales applications (in 2018 it was 45%).
In 2021, 18% of enterprises used e-commerce web sites/applications of their export activities (32% within the case of enormous enterprises and 17% within the case of small and medium-sized enterprises – SMEs).
The percentage of firms using electronic signatures, contracts and votes is growing yearly.
The digital economy is growing rapidly.
According to Google, Temasek and Bain & Company, Vietnam may have the fastest-growing digital economy in Southeast Asia between 2022 and 2025.
They estimate that Vietnam’s digital economy will probably be price $49 billion by 2025, with an annual growth rate of 31% from 2022 to 2025.
E-commerce grew from $5 billion in 2019 to $14 billion in 2022, with a projected growth rate of 37% to achieve $32 billion by 2025.
According to the Ministry of Information and Communications (MIC), the share of SMEs using digital platforms has exceeded 30%, and the ratio of the added value of the digital economy to GDP in 2022 is predicted to be 14%. in comparison with 12 percent in 2021
The variety of digital technology firms is predicted to achieve 70,000, a rise of 6,200 firms in comparison with December 2021, or 0.7 firms per 1,000 people.
Government Resolution No. 01 states that 2023 is the “yr of digital data”, “the yr of development and use of knowledge to create latest value”.
Vietnam aspires to have essentially the most advanced digital infrastructure in Southeast Asia, with broadband web available in all municipalities.
New modifications
According to the European Center for Digital Competitiveness (ECDC), the best progress in digital transformation by 2021 will probably be achieved by Vietnam in East Asia and the Pacific.
Vietnam achieved a rating of 339, with the best improvement in each areas of the index (ecosystem index increased by 139 and pondering index by 200)
Most governments which have made significant progress in digital transformation have set lofty goals and developed detailed strategies to realize them.
The Vietnamese government has approved a national digital transformation initiative that goals to be certain that the digital economy accounts for 30% of GDP by 2030.
Nguyen Manh Hung, Minister of Information and Communication, said that 2020 will probably be the yr of the beginning of digital transformation, 2021 will probably be the yr of trial of digital transformation, 2022 will probably be the yr of the overall offensive in digital transformation, and 2023 will probably be the yr when digital transformation will bring practical values.
