Vietnamese E-Commerce Grew by 314% Last Year

Experts have long forecast strong E-Commerce growth in Vietnam due to a booming internet population, but new statistics from the country’s E-Commerce and Information Technology Agency (VECITA) have surpassed everyone’s expectations.

Tuoi Tre, citing statistics from VECITA, reports that Vietnam’s E-Commerce sector grew from $700 million in 2012 to $2.2 billion in 2013, a meteoric 314% increase. The data has forced the agency to revise its 2015 revenue forecast from $1.3 billion to $4 billion.

The forecast is based on a projected internet penetration of 65 to 70% amongst the country’s 93 million inhabitants, with per capita E-Commerce reaching $150 per year.  

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 “A VECITA survey of 781 online shoppers in 2013 indicated that 61 percent of them purchased items via e-commerce websites, 51 percent through group-buying websites, 45 percent by means of social forums, 19 percent by way of e-marketplace websites, and six percent via mobile applications,” wrote Tuoi Tre.

The most popular online products were clothes, shoes and cosmetics, accounting for 62% of total purchases followed by technology products (35 percent), household products (32 percent) and air tickets (25 percent).

Between these statistics and the country's obsession with Apple products, it looks like the digital age has truly arrived in Vietnam.

[Tuoi Tre // Photo via InfocuxTechnologies]