Vietnam’s e-commerce websites are still receiving heavy investment to develop despite big losses, but when will these projects stop losing? The Vietnamese e-commerce market is one of the leading markets in the region for investment. According to Nielsen, the annual growth speed of the e-commerce market is 22% and is expected to hit US$10 billion in annual revenue by 2022 from the current US$4 billion. The Vietnamese e-commerce market shows huge potential for development and receives great attention from new investors. In a recent report by Topica Founder Institute, e-commerce attracted US$83 million of foreign investment through 21 deals. Startup SEA (used to be Garena, which was termed as a unicorn in Asia), ranked first among investors pouring capital into Vietnamese startups in 2017. SEA spent US$64 million acquiring 82% of the shares in Foody, a food delivery website and app. CyberAgent Ventures, a Japanese venture investment fund, continues its activities in Vietnam. In … [Read more...] about When will Vietnam’s e-commerce players stop “burning money”?
Vietnam e commerce website
The announcement was made within the framework of the Vietnam Online Business Forum (VOBF) 2018, which was opened on Wednesday morning by the Vietnam E-commerce Association (VECOM). Developed by the VECOM since 2012 and published annually, the Vietnam E-business Index is a useful quantitative tool for identifying e-commerce development across the country, as well as in each locality. According to the VECOM, Vietnam's e-commerce growth in 2017 was estimated at over 25%, among the fastest in the world, and the rate is expected to be maintained during 2018-2020. The growth rate in several specific fields was very spectacular. Specifically, in the online retail sector, statistics from thousands of e-commerce websites showed a high revenue growth rate at 35% last year. An indirect survey of certain delivery companies showed a 62-200% growth in delivery service revenues. In the field of payments, information from the National Payment Corporation of Vietnam (NAPAS) shows that domestic online … [Read more...] about Vietnamese e-commerce on the rise: report
Once the deal is completed, JD will become one of the biggest investors of Tiki. JD declined to reveal the investment capital it pledged to inject into Tiki, but Tiki said it has raised US$50 million which will be used to expand business. The latest investment deal made by the second largest Chinese e-commerce firm and the world’s third largest shows that cutthroat competition in the Vietnamese e-commerce market. Winston Cheng from JD said that it will provide high-quality distinctive services to Vietnamese suppliers and consumers because of its professionalism in promoting social media in the field of e-commerce, and partnership between Tiki and VNG in social networks and mobile payments. An analyst said the decision by JD to invest in Tiki shows that Vietnam is an attractive market in the eyes of Chinese e-commerce firms. Alibaba, the largest e-commerce firm owned by Jack Ma, began in Vietnam in April 2016 after the takeover of Lazada. Shopee, a rising star in the … [Read more...] about Local e-commerce market now a playing field for Chinese businesses
Local firms are demonstrating their strength in winning hearts of Vietnamese consumers in e-commerce, an interactive E-commerce study conducted by iPrice has revealed. Eight of the 10 biggest e-commerce merchants in terms of traffic are Vietnamese firms. The study, conducted from April to June this year, compared 50 e-commerce websites in Viet Nam in various parameters including traffic (based on Similarweb), application downloads and social media followers. The survey found that eight of the 10 biggest e-commerce merchants in terms of traffic are local firms who are already familiar with Vietnamese customers such as The Gioi Di Dong (Mobile World), Sendo, Tiki, Vat Gia, FPT Shop, Dien May Xanh, A Day Roi and Nguyen Kim. Lazada and Shopee, who are operating across South East Asian countries, are the only international firms in the top 10. The three biggest e-commerce websites in Viet Nam are Lazada, The Gioi … [Read more...] about Local firms dominate e-commerce in Vietnam
Vietnam holds strong e-commerce growth potential - reportMinh Tam HCMC – E-commerce in Vietnam has much room for growth but local companies have yet to tap its potential, according to a market research report. The next source of growth is Connected Spenders, who have the ability to access the Internet and are willing to spend their discretionary income, according to the report by Nielsen Vietnam and the Demand Institute. The report predicts these consumers will account for nearly 40% of the global population, thereby contributing more than 50% to annual spending. Thanks to growing access to the digital economy and all that comes with it, the East Asia and Pacific region will witness the greatest increase in the number of Connected Spenders, especially in emerging markets like Indonesia, the Philippines, Thailand and Vietnam. The report says there were 23 million Connected Spenders in Vietnam in 2015 and the figure is expected to nearly double to 40 million by 2025. Their … [Read more...] about Vietnam holds strong e-commerce growth potential – report