Vietnamese shoppers spend billions of dollars online
Revenue from online retail accounted for 2.8 percent of total nationwide expenditure on goods and services, said the Vietnam E-Commerce and Information Technology Agency (VECITA) under the Ministry of Industry and Trade.
With a population of 93 million, the country was ranked as the smallest e-commerce market in Southeast Asia just three years ago. Now its online retail market is gaining momentum with 48 million internet users increasingly turning to online shopping. VECITA estimates that 70 percent of Vietnamese internet users shopping online would create annual revenue of about $4.3 billion.
Each Vietnamese consumer spent an average of $160 on online purchases last year. More than 60 percent of online purchases were made on clothing, footwear, cosmetics, tech and electronic goods, household appliances and audio-visual equipment.
The shopping portals that earned the highest revenues were suppliers of electronic and tech products and airline tickets sellers.
The survey conducted by VECITA with the participation of 500 people living in Hanoi and Ho Chi Minh City found that 88 percent used mobile devices to search for information before they made online purchases.
About 40 percent of respondents using mobile devices spent an average of less than VND100,000 ($4.5) per purchase. Meanwhile, 36 percent spent from VND100,000 to VND500,000 and 24 percent spent more than VND500,000.