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30% of Vietnamese population to shop online by 2020

03/02/2017

VOV | February 02, 2017 07:54 PM

The Ministry of Industry and Trade has set a goal to get 30% of Vietnamese people shopping online by 2020.

The target is part of the general plan for e-commerce development during the 2016-2020 period, which has been approved by the prime minister.

 

30% of Vietnamese population to shop online by 2020

The plan aims for an average growth rate of 20% per year for business-to-customer transactions to reach USD10 billion by 2020, accounting for 5% of total retail and consumer service value, with an average spending at USD350 per capita.

Nguyen Thu Thuy, Senior Manager of Consumer Insights Board of Nielsen Vietnam, said Vietnam boasts many favourable conditions for economic development when young people account for a third of the country’s population. Meanwhile, the middle class is expected to rise to 33 million by 2020.

Around 50% of Vietnam’s urban residents who use smart phones engage in online shopping activities. Meanwhile, 92% of internet users in Hanoi and HCM City also shop online, particularly those aged between 21 and 34.

The draft plan for e-commerce development in the 2016-2020 period has also set a goal of approximately 60% of businesses having a presence on the internet, regularly updating information to introduce and sell products, with 80% of businesses taking orders online.

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