Vietnam E-Commerce Market

Market Overview:

Vietnam e-commerce market size is projected to exhibit a growth rate (CAGR) of 9.36% during 2024-2032. Increasing internet penetration, smartphone usage, changing consumer preferences, expanding digital payment options, rising convenience of online shopping, growing middle-class population, and inflating disposable income, represent some of the key factors driving the market.

E-commerce, or electronic commerce, refers to the purchasing and selling of products and services on the web. This includes a wide range of transactions, such as online retail, digital payments, online auctions, and internet banking, among others. It also utilizes electronic systems, such as computer networks and digital platforms to facilitate complex commercial activities, from marketing and sales to customer service and aftercare. E-commerce encompasses a vast array of activities, from online retail stores selling consumer goods, to business-to-business (B2B) platforms facilitating trade between companies, to digital marketplaces connecting various sellers and buyers. These operations often integrate sophisticated technologies for inventory management, data analytics, and customer relationship management. E-commerce offers minimal geographic limitations and operational overheads, which allows businesses to scale quickly and efficiently. Besides this, it also provides consumers with unparalleled convenience, offering a multitude of options for browsing, payment, and delivery of goods. It has profoundly changed the way businesses operate, breaking down geographical barriers and enabling instant access to a global marketplace.

Vietnam E-commerce Market Trends:

One of the key factors influencing the market growth is the rapid proliferation of internet and mobile usage in Vietnam, creating a fertile ground for digital transactions. In confluence with this, the government's commitment to digitization and improving broadband infrastructure along with a growing young population that is tech-savvy and comfortable with online transactions, are creating a favorable outlook for market expansion. Moreover, significant advancements in payment systems, making them more secure and user-friendly, thereby bolstering consumer trust and encouraging the usage of electronic payments over traditional methods are contributing to the market growth. Besides this, the integration of artificial intelligence (AI) and machine learning (ML) technologies to enable personalized marketing, predictive analytics, and automated customer service is presenting lucrative opportunities for market expansion. Additionally, the logistics and supply chain have seen improvements with the advent of real-time tracking and same-day delivery options, making it convenient for consumers and profitable for businesses, which, in turn, is strengthening the market growth. In confluence with this, the increase in cross-border e-commerce, facilitated by free trade agreements, globalization, and the establishment of special economic zones dedicated to e-commerce to attract foreign investment is supporting the market growth. Concurrently, the rising middle-class population in Vietnam, with inflating disposable income is more inclined to engage in online shopping for both essential and luxury items, thus aiding in market expansion. Furthermore, businesses are capitalizing on targeted advertising through social media channels, search engines, and even in-app ads to direct traffic to e-commerce platforms, thereby bolstering the market growth.

Vietnam E-commerce Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country level for 2024-2032. Our report has categorized the market based on application.

Application Insights:

• B2C E-Commerce          
  • Beauty and Personal Care
  • Consumer Electronics
  • Fashion and Apparel
  • Food and Beverage
  • Furniture and Home
  • Others
• B2B E-Commerce
   

The report has provided a detailed breakup and analysis of the market based on the application. This includes B2C e-commerce (beauty and personal care, consumer electronics, fashion and apparel, food and beverage, furniture and home, and others) and B2B e-commerce.

Regional Insights:

• Northern Vietnam
• Central Vietnam
• Southern Vietnam
   

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern Vietnam, Central Vietnam, and Southern Vietnam.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape in the market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the key players include:

• Bach Hoa Xanh Trading Joint Stock Company
• Cellphone S
• FPT Digital Retail Joint Stock Company
• Hoang Ha Construction and Investment Trading Joint Stock Company
• MEDIAMART Vietnam Joint Stock Company
• Sen Do Technology Joint Stock Company
   

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Vietnam E-commerce Market Report Coverage:

Key Questions Answered in This Report:

• How has the Vietnam e-commerce market performed so far and how will it perform in the coming years?
• What has been the impact of COVID-19 on the Vietnam e-commerce market?
• What is the breakup of the Vietnam e-commerce market on the basis of application?
• What are the various stages in the value chain of the Vietnam e-commerce market? 
• What are the key driving factors and challenges in the Vietnam e-commerce?
• What is the structure of the Vietnam e-commerce market and who are the key players?
• What is the degree of competition in the Vietnam e-commerce market?

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Vietnam e-commerce market from 2018-2032.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Vietnam e-commerce market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Vietnam e-commerce industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.