E-commerce paves way for Australian exporters in Vietnam
25 Mar 2019
Austrade's new report, A Tiger Awakens: E-commerce in Vietnam introduces Australian e-commerce companies and potential exporters to digital retail in Vietnam.
The e-commerce market in Vietnam is growing in leaps and bounds. Vietnam’s
business-to-consumer (B2C) e-commerce sector tripled in value between 2014
and 2017. It is forecast to reach US$10 billion in 2020 and become the
third-largest e-commerce market in Southeast Asia.
This report highlights the big picture opportunity for Australian
businesses to tap into Vietnam’s emerging e-commerce market. The population
is young and incomes are rising. Vietnam’s affluent and middle classes are
also growing faster than elsewhere in Southeast Asia, from 12 million in
2012 to an estimated 33 million in 2020.
According to Yvonne Chan, Senior Trade Commissioner for Austrade in
Vietnam, the pace of e-commerce activity in Vietnam is generating fresh
‘Vietnam could provide an exciting, vibrant and fast-growing market for
Australian export companies that want to sell products through e-commerce
platforms,’ she says. ‘Just as important, Vietnam is now a huge opportunity
for the technology, marketing and logistics companies that enable
e-commerce to flourish.’
The report contains valuable market insights. These include some of the key
metrics for e-commerce uptake in Vietnam such as smartphone penetration
rates, online purchase rankings and preferred methods of payment.
It also includes a survey of digital consumption habits and engagement with
various social media platforms, as well as profiles of the eight principal
e-commerce companies in Vietnam.
The report surveys risks and challenges, such as policy changes and
regulation. It explains consumers’ concerns about substandard delivery
services, false advertising and poor customer service that could impact
Australian exporters selling through e-commerce platforms.
Last, the report offers practical advice. It draws on Austrade’s in-country
expertise and includes tips on developing relationships with existing
distributors. It also reviews some of the factors Australian companies
should consider before embarking on an e-commerce strategy.
Contact Austrade for more information on opportunities in Vietnam’s