Big Day, the online summer shopping promotion of 2018, has started at 12 midnight and will last until 12 p.m. today, the Ministry of Industry and Trade said.
The e-commerce market has taken off in Viet Nam thanks to booming internet usage and smartphone ownership, along with massive investments from key retail players.
Viet Nam is one of the world''s fastest growing e-commerce countries, Lai Viet Anh, deputy director of Viet Nam E-commerce and Information Technology Agency (Vecita) under the Ministry of Industry and Trade, said.
Online Friday 2017, the largest annual shopping event for the e-commerce business and consumer communities in Viet Nam, took place on Friday with discounts ranging from 30 to 50 per cent.
Online Friday 2017, which is this Friday, is expected to achieve sales of VND1.5 trillion (US$220 million), event organiser Viet Nam E-commerce and Information Technology Agency (Vecita) under the Ministry of Industry and Trade said.
The total sales of 30 large companies on Online Friday 2016, falling on December 2, reached VNĐ664 billion (US$28 million), triple the sales compared to last year’s event. Some companies reported sales that were 10 times higher than last year.
The business-to-consumer (B2C) e-commerce sales in Viet Nam reached
US$4.07 billion last year, increasing 37 per cent compared to that of
the previous year.
E-commerce will bring big opportunities for online exports as key
export markets of Viet Nam, including the US, Japan, South Korea and the
EU had high rates of Internet use.
The industry and trade ministry''s E-commerce and Information Technology
Agency (VECITA) has warned consumers and investors to be cautious while
purchasing virtual currencies on e-commerce websites.
Shipping services have been developing in recent years, however, the
service still has not caught up with the development of Viet Nam''s
e-commerce sector.
Business-to-customer (B2C) e-commerce in Viet Nam garnered a total
revenue of US$2.97 billion in 2014, accounting for 2.12 per cent of the
country''s gross retail sales of goods.