Vietnam is witnessing outstanding growth in its e-commerce sector as customers more and more flip to on-line purchasing for a variety of services and products. In 2024, the full worth of on-line purchases made by Vietnamese customers is estimated to succeed in roughly US$16 billion, underscoring the increasing function of digital commerce within the nation’s economic system.
This surge in on-line buying locations Vietnam among the many prime three e-commerce markets in Southeast Asia. The fast enlargement displays broader regional traits, the place complete e-commerce transaction values have grown steadily, supported by rising web entry, smartphone use and enhancements in logistics and cost programs.
Inside Vietnam, a good portion of e-commerce exercise is concentrated in a small variety of dominant digital marketplaces. These platforms collectively account for almost all share of on-line transaction quantity and gross merchandise worth. Alongside these, different digital gross sales channels comparable to brand-operated web sites, multi-brand retailers, social media commerce and messaging apps are additionally contributing considerably to the general on-line retail market.
The expansion of e-commerce in Vietnam is pushed by shopper demand for larger comfort, aggressive pricing and a wider collection of merchandise. On-line platforms have streamlined the buying course of, enabling consumers from numerous elements of the nation, together with distant and fewer accessible areas, to entry high quality items and companies extra simply than ever earlier than.
Moreover, worldwide shopper manufacturers are more and more returning to the Vietnamese market with enhanced product choices and extra domestically tailor-made methods. This renewed focus goals to raised seize shopper curiosity and adapt to the distinctive preferences of Vietnamese consumers.
Trying ahead, consultants predict that the digital commerce sector in Vietnam and the broader area has vital potential for additional progress. The adoption of superior applied sciences, notably synthetic intelligence, is anticipated to boost numerous features of e-commerce operations, from gross sales and logistics to customer support, unlocking billions of {dollars} in extra transaction worth by 2030.
AI can be poised to develop into a major catalyst for Vietnam’s digital economy, with projections estimating an financial contribution of between 120 and 130 billion USD by 2040. This vital influence underscores AI’s function not solely as a transformative expertise but additionally as a core driver of sustainable financial progress throughout the nation.
The estimated financial advantages of AI come up from two foremost sources: consumption income and productiveness good points. Consumption income, anticipated to generate between US$45 – US$55 billion, displays the rising adoption of AI-powered services and products throughout numerous sectors.
As Vietnamese companies and customers more and more combine AI into every day operations and existence, demand for progressive AI functions is anticipated to surge, broadening the digital economic system’s scope and scale. Productiveness good points, accounting for an anticipated US$60 – US$70 billion, will stem from AI’s skill to optimise processes, cut back operational prices and improve effectivity.
By automating routine duties, bettering decision-making and enabling smarter useful resource administration, AI applied sciences will allow Vietnamese industries to function extra competitively each domestically and internationally. This enhance in productiveness is essential for Vietnam’s ambition to raise its financial standing and competitiveness within the world market.
Constructing a robust AI ecosystem is vital to those advantages. Collaboration amongst authorities, worldwide companions and the personal sector drives innovation and ensures AI options match native wants whereas following world requirements.
The nation’s robust dedication to AI and supportive insurance policies replicate its aim to make use of digital expertise for financial transformation. By embedding AI in its digital economic system, Vietnam seeks new progress, higher companies and larger resilience.
Vietnam’s rising e-commerce and AI sectors are driving its digital economic system ahead quickly. By supporting innovation, collaboration and infrastructure growth, the nation is ready to unlock new alternatives, enhance companies and enhance world competitiveness for a stronger, extra inclusive financial future.
