According to a report by Google and Temasek, the size of the Vietnamese e-commerce market will increase by 5.3 times in the next seven years from US$2.8 billion in 2018 to $15 billion in 2025. — Photo baomoi.com
As the Vietnamese e-commerce market booms, businesses still face many challenges to stay afloat.
This statement was made by Matthew Heller, director at Google-Channel Sales South East Asia and India, at the "E-commerce Day 2019" seminar organised by Novaon Internet Corporation and Google, attracting more than 400 e-commerce businesses in the northern region.
According to a report by Google and Temasek, the size of the Vietnamese e-commerce market will increase by 5.3 times in the next seven years from US$2.8 billion in 2018 to $15 billion in 2025.
Speaking at the event, Matthew Heller said e-commerce has been growing at a dizzying rate of more than 43 per cent per year. The proportion of e-commerce revenue in the entire retail channel will increase from 3 per cent in 2018 to more than 10 per cent in 2025.
However, millions of e-commerce businesses are still facing challenges including difficulties with building and designing websites, advertising techniques and policies, expanding sales channels and sales management strategies, Heller said.
The average size of an e-commerce company in Viet Nam is still quite small at just about 10 orders per day with an average order value of VND200,000 ($8.60). Their average monthly income is about VND40-60 million per month.
Because they remain so small, solutions are needed to help businesses overcome difficulties to grow and thrive, and tap the great potential of e-commerce, he said.
At the event, Novaon Internet Corporation introduced its online sales platform Onshop, which can help solve problems for millions of e-commerce companies in Viet Nam.
The Onshop platform offers users a package solution from starting a sales channel to expanding sales channels, advertising techniques, website designs and sales management, said Nguyen Kim Tuyen, technology director of Onshop.
It also helps businesses connect their websites with other sales channels such as social networks, shops and other e-commerce platforms like Shopee and Tiki to create a multi-sales system, increasing efficiency and reducing operating costs. — VNS