E-Commerce in Vietnam and the World
1. Overview of Global E-Commerce
Market Size: Global e-commerce has experienced explosive growth, becoming one
of the fastest-growing sectors of the economy. By 2023, the total global e-commerce
market value reached approximately USD 6.3 trillion, and forecasts suggest that this
market will continue to expand in the coming years, driven by continuous innovation
in technology and business models.
Leading Markets: China, the United States, and Europe are the dominant regions in
the global e-commerce market. China accounts for nearly 50% of the global market
share, with major corporations like Alibaba and JD.com playing key roles. In the
United States, prominent platforms such as Amazon and eBay have contributed
significantly to the strong development of this sector. Europe also remains a key
market, with a diverse presence of e-commerce businesses.
2. E-Commerce in Vietnam
Market Size: Vietnam is emerging as one of the fastest-growing e-commerce
markets in Southeast Asia. In 2023, the market size reached approximately USD 20
billion, with an expected annual growth rate of 20-25%. The increasing use of the
Internet, along with the rising number of mobile phone users, has driven a strong
online shopping trend, making Vietnam a hotspot for e-commerce in the region.
Major Platforms in Vietnam: The largest e-commerce platforms in Vietnam include
Shopee, Lazada, Tiki, and Sendo. Among them, Shopee is currently leading the
market with a large user base and a comprehensive support system for sellers.
Lazada, with its strong logistics infrastructure, remains a formidable competitor. Tiki,
known for its fast delivery services and trusted products, is a top choice for many
local customers. Sendo is also noteworthy for its flexibility in reaching customers in
rural and provincial areas.
3. Comparison Between E-Commerce in Vietnam and the World
Development: While e-commerce in developed countries like the United States and
China has reached a level of maturity with optimized logistics systems and strong
support policies, Vietnam is in a phase of rapid development but faces some
significant challenges. Improvements in logistics infrastructure and consumer trust
are critical to meeting the growing market demands.
Cashless Payments: In developed countries, digital payments have become the
norm, with widespread adoption of e-wallets and online payment methods. In
contrast, cash-on-delivery (COD) remains prevalent in Vietnam, although cashless
payments are gradually increasing thanks to the rise of e-wallet applications like
MoMo, ZaloPay, and Moca.
Logistics and Shipping: Developed countries have advanced logistics systems that
enable fast and efficient deliveries, sometimes within just a few hours. In Vietnam,
although logistics infrastructure is seeing significant investment, there are still
challenges in terms of cost and delivery times, especially in remote areas. Many
local logistics companies are striving to improve their services to meet the growing
demand of the market.
4. The Future of E-Commerce
In Vietnam: The advancement of cutting-edge technologies such as 5G networks,
artificial intelligence (AI), and blockchain is expected to continue driving e-commerce
growth in Vietnam. To maintain and enhance this growth, businesses must invest
more in technology, improve logistics services, and optimize the customer
experience to meet the increasingly diverse and demanding needs of the market.
Globally: On a global scale, e-commerce will become increasingly integrated with
disruptive technologies like AI, virtual reality (VR), and augmented reality (AR),
offering more personalized and unique shopping experiences. Moreover, specialized
e-commerce platforms will emerge, focusing on specific customer segments, thereby
creating a more diverse and dynamic ecosystem that better caters to consumer
needs.
