Wednesday, September 21 2022
Many attractive promotions on the Shopee e-commerce site. (Photo: VietnamPlus)

Hanoi (VNS/VNA) – from Vietnam B2C retail e-commerce revenue this year is estimated at $16.4 billion, marking the first year to reach this milestone, the White paper on e-commerce in Vietnam 2022.

A representative of the Vietnam E-Commerce and Digital Economy Agency (Ministry of Industry and Commerce) said the white paper on e-commerce in Vietnam was designed to provide a comprehensive view of the country’s e-commerce application situation under the impact of the pandemic in the global e-commerce chart this year, as well as new legal regulations coming into effect.

Similar to previously published publications, this whitepaper is built on the results of a survey of nearly 5,000 consumers and approximately 10,000 businesses, as well as aggregated data from a number of reputable organizations across the world.

The COVID-19 pandemic severely affected Vietnam’s and the world’s trade and service activities last year, Vietnam’s Electronic Commerce and Digital Economy Agency said.

Negative growth in some service industries accounted for a large share, reducing the overall growth rate of the service sector and the economy as a whole.

In this context, Vietnamese e-commerce has always maintained a stable growth rate of 16%, retail revenue reached $13.7 billion last year.

The share of online retail revenue in total retail sales of goods and services reached 7%, up 27% from the same period in 2020.

Going into 2022, Government Decree No. 85/2021/ND-CP of September 25 last year amending and supplementing a number of articles of Decree No. 52/2013/ND-CP of May 16, 2013 on the e-commerce has officially entered into force.

The legal framework for e-commerce activities has been improved to meet development requirements, especially in the context of the rapid and strong growth of e-commerce in Vietnam in recent years, accounting for an increasing share in the national trading system, contributing to enhance consumer confidence, as well as ensure the management role of the state.

Vietnam’s e-commerce value will reach $39 billion by 2025, ranking second in terms of e-commerce growth in Southeast Asia.

The total revenue of Vietnam’s internet economy is expected to reach $57 billion by 2025, second only to Indonesia. Vietnam also has the second highest percentage of consumers shopping online in the region, after Singapore.

Moreover, according to data published in Vietnam E-commerce White Paper 2022, Vietnam’s e-commerce economy is expected to set a number of annual records this year.

Specifically, it is estimated that for the first time, the number of online shopping consumers in Vietnam will reach 57 million people and may reach 60 million.

The value of online shopping for the first time reached 260-285 USD per person. The proportion of B2C e-commerce revenue will exceed 7%, reaching a market share of 7.2% to 7.8% in total retail sales of consumer goods and services in Vietnam.

Globally, the Vietnam E-commerce White Paper 2022 predicts that retail e-commerce revenue will reach USD 5.545 billion this year, up about 12.7%.

This number is expected to reach USD 7.385 billion by 2025./.

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