According to a survey by Facebook and Bain & Company, Vietnam is anticipated to be the fastest-growing e-commerce sector in Southeast Asia by 2026, with e-commerce gross merchandise value (GMV) expected to achieve $56 billion, or greater than $4. 5 times greater than the estimated value in 2021.
Two major market observers said of their annual SYNC Southeast Asia report, which analyzes the region’s digital economy, that Vietnam, positioned in a vibrant a part of the world, is on the forefront of driving change and seizing growth opportunities based on digital transformation for a post-pandemic future.
Some 16,700 digital consumers and greater than 20 senior executives were interviewed in six Southeast Asian countries, including 3,579 respondents from Vietnam.
Southeast Asia was recognized as a pioneer of digital transformation within the Asia-Pacific region, and Vietnam was recognized as one of the successful leaders.
The study shows that seven out of ten customers in Vietnam have access to the Internet, and by the tip of 2021, there can be 53 million digital users within the country.
The variety of product categories purchased by Vietnamese online consumers increased by 50% year-on-year this 12 months, while the variety of online sellers in Vietnam increased by 40%, leading to a 1.5-fold increase in total online retail sales across the country.
Over the past three months, 49% of Vietnamese buyers have switched to a brand new online marketplace, citing price incentives (45%), product quality (34%), and product availability (33%).
Cash payments are vulnerable to being dethroned for the primary time, with a major decline from 60% in 2020 to 42% in 2021. For Vietnamese customers who’re considering different payment methods, the essential concerns are security, privacy and repair costs.
This 12 months, Vietnamese people spend most of their time on social media, sending messages, watching videos, shopping online and writing emails. They spent 72% of their time at home as an alternative of going out.
