Vietnamese leads Southeast Asia in online shopping
Vietnamese purchases of goods online and the value of online orders both increased significantly in 2022, according to market analysis firms.
To prepare for the 2023 Tet holiday, Nguyen Thi Ngoc in Thanh Xuan district, Hanoi, has ordered 4 kilograms of maize vermicelli made in Cao Bang and mushroom and bamboo shoots via Postmart, an e-commerce platform run by Vietnam Posts.
Ngoc is pleased that she can place orders online and receive deliveries, which saves her time and money.
For young people, especially Gen Z, online shopping is common. Nguyen Hong Trang, a student at Hanoi University, orders 3-4 products via e-commerce platforms each week and food via Grab.
“I can buy everything from e-commerce platforms, from clothes and books to makeup,” she said.
A survey of online consumer behavior of people in Southeast Asia conducted by Lazada and Milieu Insight found that 73 percent of consumers in the region consider online shopping an indispensable part of their daily life. The figure was around 60 percent two years ago.
Vietnam’s digital economy witnessed the highest growth rate in Southeast Asia with estimated gross merchandise value (GMV) of 28 percent, from $18 billion in 2021 to $23 billion in 2022 thanks to a 26 percent growth rate of e-commerce compared with the year before.
Eight out of every 10 people continue to shop online because of convenience, though average spending per customer has been lower than two years ago.
It is a tendency that consumers still maintain the habit of shopping online. Eight of every 10 people still shop online for the convenience, though the average spending is lower than two years ago.
Consumers also spend more time and effort to seek products with good prices and discounts. The the most searched keywords are ‘ao khoac nam’ (men’s jacket), ‘tui xach nu’ (women’s bags), ‘dep nu’ (women’s sandals), ‘san pham duong da’ (skin care products), ‘son moi’ (lipsticks).
According to Khoi Le, Vietnam Country Director of Meta, value of online orders in Vietnam increased from $45 in 2021 to $50 in 2022.
Tran Trong Tuyen, CEO of Sapo, a technology firm, said e-commerce marketplace is the most favorite shopping channel which is used by 49.69 percent of sellers, followed by Facebook with 39.13 percent, and websites with 9.94 percent.
Tuyen said that e-commerce will lead Vietnam’s digital economy growth. Buyers will become ‘digital consumers’, who will still use e-commerce platforms and online shopping in the next 12 months.