E-commerce grows steadily despite Covid-19
By Van Ly
|E-commerce has grown sturdily amid the Covid-19 pandemic – PHOTO: VNA|
HCMC – Although the Covid-19 pandemic led to the downturn of most sectors, e-commerce grew steadily in Vietnam last year and would maintain its solid growth momentum this year, according to the E-Business Index 2021 Report of the Vietnam E-commerce Association (Vecom).
The E-business Index was based on three criteria comprising human resources and infrastructure in information technology, e-commerce transactions between businesses and consumers, and e-commerce transactions among businesses.
Data of Vecom showed that Vietnam's e-commerce market grew 15% last year to some US$13.2 billion. Of this, online retail grew 46%, ride-hailing and food delivery rose 34% and online marketing and games rose 18%.
Online marketing revenues increased to US$820 million in 2020 from US$329 million in 2015 and US$716 million in 2019. Online marketing revenues are expected to reach nearly US$1 billion in 2021.
Online transactions by domestic payment cards through the National Payment Corporation in 2020 rose 185% in volume and 200% in value compared with 2019.
Momo, the biggest e-wallet in the country, recorded 403 million transactions worth some US$14 billion last year, a 3.5-fold increase in both volume and value compared with 2019. The number of new users in 2020 reached 23 million, nearly doubling that of the previous year.
HCMC still led the E-business Index with 67.6 points, followed by Hanoi with 55.7 points. Danang trailed far behind in third place with 19 points.
Binh Duong Province ranked fourth, while Dong Nai Province climbed two notches from last year to the fifth place this year. Haiphong City moved down to sixth place from third last year.
Most of the provinces with the weakest growth of e-commerce are located in the North or the Mekong Delta.
A representative of Vecom said the e-commerce development gap between HCMC, Hanoi and other cities and provinces remained very large. The two biggest cities accounted for half of the country's total business-to-customer e-commerce transaction value.
According to Vecom, businesses in Vietnam have become more dynamic and gradually adapted to e-commerce. The growing number of online consumers has resulted in growth in many e-commerce industries such as ride-hailing, food delivery, online payments, online training and online marketing.
The E-Business Index 2021 Report was released by Vecom within the framework of the Vietnam Online Business Forum on April 20.
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