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The size of Vietnam’s e-commerce sector in 2018 was estimated at $8.06 billion, up 30% from the previous year, according to a white paper published by the Department of E-Commerce and Digital Economy of the Ministry of Industry and Trade. The growth rate has been rising dramatically in the past three years, compared to 23% and 24% respectively in 2016 and 2017 (Nhandan, 2019). White Book stated that nearly 39.9 million Vietnamese consumers purchased consumer products online in 2018, contributing $1.2 million of sales of products.Read More “Online grocery shopping in COVID-19 outbreak”
Technology-based Personal Finance Solution is a rising trend in the dynamic fintech market in Vietnam. From nearly 400.mil USD market value in 2017, it expects to have a CAGR of 31,2% during the period 2017 – 2025 to reach 24% of total fintech market share in 2025, according to a report by consulting firm Solidiance.
A survey conducted in May 2020 by B&Company on its online survey platform BEAN Survey with 484 respondents above 18 y.o shows that demand for Personal Finance activities are significant with 56% of respondents wanting to track and manage their expenses. Respondents also shared desire to get advice on personal finance investment (32%) and obtain loans for consumption purposes (31%).Read More “Emerging personal finance applications in Vietnam”
As of May 3rd, 2020 | Consolidated by B&Company Vietnam & BEAN Survey team
By 20th April 2020, more than 200 countries have been fighting against COVID-19 outbreak, with most countries applied nationwide closures (Source: WHO). This incident has heavily impacted more than one billion students, or over 90% of the world’s student population according to UNESCO’s estimation.
The market for functional food is one of the fastest growing markets. According to a report published in 2019 by Grand View Research, the global scale was worth USD 161.49 billion in 2018. The global market size is projected to reach USD 275.77 billion by 2025 and is anticipated to expand at a CAGR of 7.9% during the forecast period. In South East Asia, since 2011, functional food markets have experienced rapid growth, worth USD 17.4 billion in 2016 and 9% CAGR is forecast between 2015 and 2020 (L.E.K. Research & Analysis, 2018). The market size for functional food in Vietnam was worth USD 1,792 million in 2015, ranked 3rd among ASEAN countries. However, its’ growth rate from 2015-2020 was highest among all countries in the region.Read More “The rapid development of Vietnam’s functional food market”
Chain business is a fairly fast-growing model in Vietnam in recent years and many players across different industries have chosen this method to expand their market share. From food and beverages to technology, we have seen lots of giants doing well with this model. As a huge potential market that always has tough competition, pharmaceutical industry cannot stay out of this trend.
As of March 11, 2020 | Consolidated by B&Company Vietnam & BEAN Survey team
The COVID-19 outbreak has disrupted the lives of hundreds of millions of people worldwide only 2 months after the first case was found in Wuhan (China), creating uncertainty for the whole world. Since the mechanism of this virus has not been fully understood, no one could be sure until when the epidemic would last, let alone the consequent increase of economic instability. Read More “An overview of COVID-19 outbreak affecting on Vietnamese social-economy”
Television has long been a main source of entertainment, but nowadays, as the content unfolds in real-time and more people are more busy, they want to watch whatever, whenever and wherever they want instead of gathering the entire family around the TV to watch a show that is aired in a certain time. Though being the youngest comparing with traditional TV services, pay TV services (cable, satellite, IPTV), OTT TV is in the spotlight. Read More “The future of television in Vietnam”
The development of Vietnam non-public higher education sector has been performing well in the recent years. With appealing revenue and profit, there are both increased numbers in students and schools. Despite all the growth in the market, there are still targets set by government that have not been met, indicating the potential is still high for the years to come.
Food Delivery Service has been in business since the 20th century, especially for Chinese cuisine. Since Pizza Hut launched their delivery service in 1994, this market has become a billion-dollar business. However, as in many other sectors, the rise of digital technology is reshaping the market. Food Delivery now can be applied to any kinds of food and the emergence of 3rd party companies providing platform-to-consumer delivery services have made the market even hotter.
Vietnam is not an exception. Vietnam’s revenue in the food delivery market reached USD 146 million in 2018, according to Statista. In particular, the restaurant-to-consumer delivery reached USD 117 million, while platform-to-consumer delivery accounted for USD 32 million, and grew 46% in a year from 2017 to 2018. As a forecast for the future, the overall CAGR in the Vietnamese market from 2017 to 2023 is 28.5%. In comparison, 3rd party services are expected to be 41.6%, and further growth is predicted in the future.