Vietnam strives to have over half of population shopping online by 2025

Vietnam is aiming to have 55 percent of its population shopping online by 2025, with average consumer spending rising to $600 per year, according to a master plan on e-commerce development for 2021-25 recently approved by Deputy PM Trinh Dinh Dung.

E-commerce is viewed among the pioneering sectors of the digital economy which contributes to modernising the distribution system, raising businesses’ competitiveness and fostering the domestic market and exports.

Revenue in the business-to-consumer (B2C) sector is projected to surge 25 percent per year to hit 35 billion USD, accounting for 10 percent of the total retail sales and service revenues nationwide.

Under the plan, cashless payments will reach 50 percent, of which those made via third-party payment service providers will make up 80 percent of the total.

Economic zones and localities aside from Hanoi and Ho Chi Minh City are forecast to account for 50 percent of the value of the total B2C transactions across the country.

Businesses in 50 percent of the communes and equivalent administrative units nationwide will be encouraged to provide online shopping services.

Meanwhile, Vietnam also wants 80 percent of the e-commerce websites to have online booking functions and 50 percent of the small- and medium-sized enterprises operating on e-commerce platforms, including those on social media sites.

(Source: VNA)