Annual e-commerce sales expected to reach an average of $350 per person by the end of the decade.
At a meeting on September 18 to launch Vietnam’s e-commerce policy, Mr. Tran Huu Linh, Director General of the Vietnam E-commerce and Information Technology Agency (VECITA) under the Ministry of Industry and Trade (MoIT), said about 30 per cent of Vietnamese people will shop online by 2020.
He added that, with such numbers, annual e-commerce sales will reach an average of $350 per person. B2C (Business-to-Consumers) sales will also increase 20 per cent by this time, reaching $10 billion and accounting for 5 per cent of total retail sales.
Shopping on the mobile platform is predicted to continue to be the main trend around the world over the next five years, accounting for about 25 per cent of total global retail sales and reaching about $850 billion in 2018. In Vietnam e-commerce is expected to reach $300 million.
According to a survey by VECITA, e-commerce enterprises not only actively introduce products, brands and promotions on the mobile platform but also now design apps. As a new model, however, there should be guidelines and regulations from the State to ensure the benefits of businesses and consumers, Mr. Linh believes.
The draft plan for e-commerce development in the 2016-2020 period has a target of approximately 60 per cent of businesses having a presence on the internet, regularly updating information to introduce and sell products, with 80 per cent of businesses taking orders online.