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
Local retailers see their future in the news from developed markets The explosive power of e-commerce The US has seen a series of retail store chains close and go bankrupt, including Toys “R” US, Walgreens, Gymboree, and Walmart, among others. Most recently, Walgreens—the largest pharmaceutical store chain of the US—closed 600 stores due to the mushrooming e-commerce sites. Despite selling at higher prices than other stores, Walgreens was a favourite of customers due to its convenient locations and attractive promotion programmes. Vietnam’s e-commerce retail sales growth in 2016-20 is estimated at 20 per cent per year, and the country’s total retail e-commerce sales is expected to reach $10 billion by 2020. However, Walgreens still stands behind Toys “R” Us in the number of stores closed. Previously, Toys “R” Us, the iconic toys and games retail chain that ruled the market for generations, decided to either close or … [Read more...] about Vietnamese retailers prepare for e commerce landfall
With e-logistics growing in importance every day, firms and agencies are required to look to new solutions to ease the pressure on the environment and the transport system High pressure from e-commerce boom According to the Ministry of Industry and Trade (MoIT), Vietnam is one of the world’s fastest-growing e-commerce countries. The country’s e-commerce market is growing by 35 per cent a year, 2.5 times faster than Japan’s. California-based business consulting firm Frost and Sullivan forecast that the scale of Vietnam’s e-commerce market will increase from $1.6 billion in 2016 to $3.7 billion by 2020. What is happening in the local e-commerce market now proves how lucrative it is. A number of global e-commerce giants, including Alibaba Group, JD.com, and Tencent, have been rushing to invest in Vietnam, while influential domestically-run groups, namely FPT and Vingroup, have invested strongly in e-commerce websites. What’s more, cross-border trade is now … [Read more...] about E commerce requires logistics reboot
Photo for illustration (Source: thoibaonganhang.vn) Vietnam is one of the world’s fastest growing e-commerce countries, according to Lai Viet Anh, Deputy Director of Vietnam E-commerce and Information Technology Agency (VECITA) under the Ministry of Industry and Trade. The country’s e-commerce is growing 35 percent per year, 2.5 times faster than Japan, he said. The number of Vietnamese businesses capable of taking advantage of the internet and technology has grown 2.1 times faster than those with less use of the internet. Small- and medium-sized enterprises (SMEs) that spend more than 30 percent of their budget on technological innovation are growing nine times faster than those spending less than 10 percent of their budget. Vietnam’s e-commerce retail sales growth in the 2016-2020 period is estimated at 20 percent per year, and the country’s total retail e-commerce sales is expected to reach USD10 billion by 2020, Anh said. However, e-commerce has faced … [Read more...] about E-commerce expected to grow strongly in 2018
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