Vietnam's cross-border e-commerce has been robust and is forecast to grow strongly in the next five years.
While e-commerce is an increasingly powerful trend, pandemic fallouts have unwittingly spurred and opened the way for many Vietnamese businesses to start cross-border sales.
According to a report released by Amazon, Vietnam’s cross-border retail sales increase over 20% annually, hitting VND75.4 trillion ($3.19 billion) last year, and are projected to reach VND256.1 trillion in 2026. Of this, 64% is generated by micro, small and medium enterprises.
Statistics from Singapore-headquartered Ninja Van Company, Southeast Asia's leading logistics provider, show that Vietnamese products, mainly farm produce, handicrafts, furniture, home appliances and medical supplies, are being sold on international e-commerce platforms such as Amazon, JD.com, Alibaba, and Shopee Global.
Vietnam is leading Southeast Asia in online purchases, with an average of 104 orders per year per person, a Ninja Van Group report said.
Dang Hoang Hai, director of the Ministry of Industry and Trade's e-commerce department, said the global B2C e-commerce revenue is expected to reach $2.88 trillion in 2023.
The e-commerce markets of Vietnam’s major trade partners such as China, Japan, South Korea and EU countries will increasingly open up opportunities for Vietnamese businesses. Taking advantage of thriving e-commerce markets will help businesses enter choosy markets they previously had no access to, he added.
A recent survey by Ninja Van Group on 'e-commerce beyond borders' shows that 73% of Vietnamese respondents said they regularly shop on e-commerce platforms, and 59% said they have ordered or shopped on international websites many times.
Vietnam currently accounts for 15% of Southeast Asia's online shopping market, after Thailand with 16%, and on par with the Philippines, the firm noted.
The report said that Vietnamese people love online shopping and lead the region in many indicators.
"With strategic research demonstrating the development of the e-commerce and e-postal industries in Southeast Asia, we believe that the Vietnamese market is one of those with the most potential thanks to its sustainable and clear growth in recent years," said Phan Xuan Dung, sales director of Ninja Van Vietnam.