Online retailers posted sales of USD 4 billion in 2015, according to The Vietnam E-Commerce Association in-house research, thanhniennews.com reports. Nguyen Thanh Hung, vice chairman of the industry group, said the market has finished its first stage of development, creating technology infrastructure, legal frameworks and a workforce ready for the next phase of growth.
“It now has enough momentum for a new stage,” the source reports citing Saigon Times Online. Hung said the industry will grow by more than 30% a year possibly until 2025, compared to the current 25%. Tran Trong Tuyen, CEO of Hanoi-based DKT, which offers online technical support for around 15,000 retailers in Vietnam, said Vietnam’s ecommerce market now centralizes on Hanoi and Ho Chi Minh City.
The two biggest cities make up for 75% of the total online retail sales, Tuyen said. Once the industry starts to expand to other cities and provinces, it will see a major boom and become five times as big, he said, the source cites.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now