Press Release (ePRNews.com) - HAMBURG, Germany - May 05, 2017 - In Vietnam, online retail makes up about 1% of the total retail market. Various forecasts cited in the yStats.com publication predict that this number will significantly multiply by 2020. Drivers to this growth are an increase in smartphone and Internet penetration rates as well as growing customer openness to online shopping. Barriers still exist such as poor logistics infrastructure and the dominance of cash payments that stop E-Commerce from reaching full potential. Vietnam’s top players like the FPT Corporation, Mobile World, Lazada, and Tiki have decided to invest into developing their delivery and payment infrastructure to account for the growing demand.
Notably, Facebook has become one of the leading platforms for online purchasing in Vietnam. Surveys cited in the yStats.com report state that a double-digit share of online consumers have placed orders via this social network.
M-Commerce is another key trend in Vietnam’s online retail market. Information from the yStats.com report suggests that as of 2016, 3G connections increased to a medium double-digit figure in the millions, with this number expected to add several more millions by 2020. Over half of digital buyers use their smartphones for online purchases, but computers and laptops are still the most used devices.
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