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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”
“180 Billion USD Market in 2020”
According to a forecast by the Trade Research Institute (Ministry of Industry and Trade), the retail trade average annual growth rate of Vietnam would reach 11.9% in 2016-2020 period reaching a market size of nearly 180 billion USD in 2020. In particular, the convenience store model is in fierce competition as domestic and foreign investors race to open chains, invest in technology, enhance services to find a firm foothold in the market.
In 2013, 80% of the total consumption was generated from traditional sales channels such as markets and grocery stores. On the other hand, demand for modern sales channels is on the rise, as foreign investment in the market is increasing, the use of convenience stores and mini supermarkets has gradulally become popular. Read More “Promote the competition in convenience store market (Oct 2014)”