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HomeeCommerce NewsVietnam expects to generate $35 billion turnover from e-commerce by 2025

Vietnam expects to generate $35 billion turnover from e-commerce by 2025

Vietnam e-commerce

While we have been concentrating on e-commerce markets such as the US, Canada, Europe and even India, we have to acknowledge that many of the growing markets in this space are being left behind. But that does not mean they are not making progress in the space and the fact is that they are making quite a lot of progress.

Talking about progress and e-commerce revenue, the biggest marker for any market is the turnover that e-commerce generates for them. This is the total amount of sale that the entire market is making regardless of profit or loss or gross revenue and all those figures.

This is also a good figure to be pointed out when we are looking at the raw data of any market’s contribution to the economy. Now, we have a new report regarding Vietnam and this shows that one of the biggest markets was being neglected by us in being reported. As per the report, Vietnam is expecting to have a strong turnover of close to $35 billion by the year 2025 which is in the next five years.

Also, these are not just numbers given by the Vietnam government but they have made an action plan for the same as well which has been announced on Monday in the country.

According to the Vietnamese officials, “more than half of Vietnam’s 96 million people are set to shop online by 2025”. This way, they will be able to generate more revenue and turnover from online sales rather than offline and local markets.

The government also mentions that “Each online shopper is expected to spend an average of $600 a year by 2025”. It also mentions that “online shopping should account for 10% of Vietnam’s total retail sales of goods and services by then”. As of 2019, Vietnam’s turnover in e-commerce is said to be $19 billion and the country hopes to double this in next five years.

Sonali Minocha
Author: Sonali Minocha

Passionate about Innovation and Technology. I love to contribute to high impact projects/ products. I have co-created/contributed to technology solutions touching 100 million ++ humans. I am also fond of e-commerce & PIM solutions. As editor of eCommerceNext, I am bringing news, events, opinions, experts, reviews from the world of e-commerce and PIM Besides technology and innovation, I am usually involved in setting up and running complex operations and human capital systems. I have been grateful to be acknowledged by getting “Great Places to Work – Top 100”, “Great Places to Work – Top 50”, “Great Place to Work – Top 5” awards for my company. I am a people and relationship person and bring in a balance of empathy and realistic solutions. I thrive on building processes and building control systems. I led the team that achieved CMMI Level 3. I have managed large teams and in-turn managed projects worth 15-20 Million (Annually) Want me to cover an interesting story around eCommerce or PIM? Reach me on [email protected]

Author

Passionate about Innovation and Technology. I love to contribute to high impact projects/ products. I have co-created/contributed to technology solutions touching 100 million ++ humans. I am also fond of e-commerce & PIM solutions. As editor of eCommerceNext, I am bringing news, events, opinions, experts, reviews from the world of e-commerce and PIMBesides technology and innovation, I am usually involved in setting up and running complex operations and human capital systems. I have been grateful to be acknowledged by getting “Great Places to Work – Top 100”, “Great Places to Work – Top 50”, “Great Place to Work – Top 5” awards for my company.I am a people and relationship person and bring in a balance of empathy and realistic solutions. I thrive on building processes and building control systems. I led the team that achieved CMMI Level 3. I have managed large teams and in-turn managed projects worth 15-20 Million (Annually)Want me to cover an interesting story around eCommerce or PIM? Reach me on [email protected]