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By 2025, 55% of Vietnam’s population will participate in online shopping

May 21, 2020 TECH NEWS

E-commerce is one of the pioneering areas of the digital economy, where the advanced technologies of the Fourth Industrial Revolution (Industry 4.0) have been widely applied to increase the efficiency of the business cycle. business, contributing to modernizing the distribution system, improving the competitiveness of enterprises, promoting the development of domestic and export markets.

Accordingly, in terms of the size of the e-commerce market, 55% of the Vietnamese population participates in online shopping, with the value of buying goods and services online. the average route is 600 USD / person / year; e-commerce revenue of the business-consumer e-commerce (B2C) model (for both online consumer goods and services) increased by 25% / year, reaching USD 35 billion, accounting for 10% compared to the total retail sales of consumer goods and services nationwide.

Regarding ancillary services infrastructure for e-commerce, non-cash payment in e-commerce reached 50%, of which payments made through intermediary payment service providers accounted for 80% ; the average cost for delivery and final order completion accounted for 10% of the product cost in e-commerce; 70% of purchases on e-commerce websites / apps have e-invoices; building and putting into operation the shared database on e-commerce.

Regarding the correlation of e-commerce development among economic regions, localities outside Hanoi and Ho Chi Minh City account for 50% of the country’s B2C e-commerce transaction value; 50% of communes and equivalent administrative units across the country have merchants doing goods sale or online service provision.

Regarding the application of e-commerce in enterprises, 80% of e-commerce websites have integrated online ordering function; 50% of small and medium enterprises conduct business activities on e-commerce trading floor, including social network with the function of e-commerce trading floor; 40% of businesses participate in e-commerce activities on mobile applications; 70% of electricity, water, telecommunications and communication service providers deploy electronic contracts with consumers.

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In order to achieve the above objective, it is necessary to perfect mechanisms and policies to meet the needs of e-commerce development in the context of Industry 4.0; improve the management and organization of e-commerce activities, fight against commercial frauds, infringe upon intellectual property rights and unfair competition in e-commerce; building markets and improving consumer confidence in e-commerce; strengthening the capacity of infrastructure systems and support services for e-commerce; promoting e-commerce applications to support key export industries, expanding domestic goods consumption and promoting e-commerce development in localities.

The national master plan on e-commerce development is organized in a coherent and synchronized manner with strategies, plannings and plans for the development of sectors of industry and trade and economic sectors, especially export, distribution, and other services; strategies, plans, schemes and programs on information technology development and application; administrative reform programs and information technology applications in state agencies’ operations.

About InApps Technology

As a leader in developing applications and providing software offshore development services, InApps has over 10 years in creating and developing innovative e-commerce solutions, which will be delivered to you by our experts.

Learn more about our E-commerce app development services: https://www.inapps.net/services/e-commerce-application-development-service/

InApps Technology
Offshore Development Center
A leading software development outsourcing company in Vietnam and a trusted technology partner of every customer.

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