Summary:
- Vietnamese digital economy witnessed an outstanding development in both scale and speed.
- 2018-2019 is the period that saw the rise of Vietnamese e-commerce businesses in the regional playground, as well as the strong investment of foreign investors in this field.
- The most popular form of payment used by Vietnamese consumers is still cash-on-delivery (COD). Clothing and shoes are the most popular online purchases. Next are electronics and refrigerators, followed by mom and baby care products.
- Along with the development of the e-commerce industry, logistics and delivery service experienced outstanding growth and fierce competition.
- Despite favorable positive conditions for e-commerce businesses, there are still barriers that have not been overcome, including: Infrastructure, material facilities, digital technology, legal frameworks; lack of consumer confidence; and limitations in the company's own operations.
To see the contents of the article, please visit: https://www.iseas.edu.sg/images/pdf/ISEAS_Perspective_2020_4.pdf.
The article has been published in a number of regional and domestic newspapers such as the South China Morning Post (https://www.scmp.com/week-asia/opinion/article/3048038/vietnams-e-commerce-sector-booming-why-do-consumers-prefer-amazon), Voice of Vietnam (https://english.vov.vn/Print.aspx?id=409357), Vietnamnet (https://vietnamnet.vn/en/business/singaporean-outlet-names-vietnam-fastest-growing-digital-economy-612172.html), Eurasia Review (https://www.eurasiareview.com/30012020-vietnams-booming-e-commerce-market-analysis/), quoted and re-posted the summary.
Translator: Đỗ Nguyễn Ngọc Anh