Nguyen Ngoc Dung, Vecom Chairman, speaks at the forum. (Photo: haiquanonline.com.vn) During the event, the Vietnam E-commerce Association (Vecom) highlighted thatglobal and domestic economic challenges had adversely impacted trade.
Nonetheless, maintaining the momentum from the two previous waves of growth,Vecom has predicted that e-commerce in our country will still grow at a rate ofmore than 25%, reaching a scale of over 20 billion USD.
Vecom estimated that last year, the retail e-commerce transaction scalecomprised about 8.5% of the total retail sales of consumer goods and servicesof 5,680 trillion VND (240.5 billion USD).
Regarding retailing of goods alone, the proportion of online retail sales ofgoods compared to the total retail sales of goods was about 7.2% last year,higher than the corresponding rate of 6.7% in 2021.
According to the General Statistics Office, the national gross domestic productincreased by 3.3% in the first three months of this year over the same periodlast year.
The total retail sales of consumer goods and services were estimated at 1,505.3trillion VND, up 13.9% over the same period last year. If excluding the pricefactor, it rose by 10.3%.
The two fastest-growing service sectors are accommodation and food services, up26.0%, and wholesale and retail, up 8.1%.
The economy's great difficulties from mid-2022 have extended to the firstquarter and possibly until the end of this year.
Vecom assessed that e-commerce grew by over 22% year-on-year in the firstquarter and could still reach over 25% for the whole year.
Nguyen Ngoc Dung, Vecom Chairman, said that in the context of businesses facingdifficulties due to the economic recession and difficulties in accessing creditcapital, it was urgent to provide smart financial solutions to help businessesmake better use of the capital of financial institutions.
In the context that our country's e-commerce still accounts for a small scale,about 8.5% of total retail sales of consumer goods and services, efforts tobring more Vietnamese goods and products, including seafood, that could belisted on e-commerce platforms, were very important, he added.
Business on social networks about to surpass e-commerce floors
More and more businesses were choosing to do business on social networks,especially TikTok Shop, reported Vecom.
In terms of e-commerce business activities of e-commerce floors and socialnetworks, a survey by Vecom shows that up to 65% of businesses have implementedbusiness activities on social networks.
The number of employees at enterprises who regularly use tools such as Zalo,Whatsapp, Viber, and Facebook Messenger has continuously grown.
Selling on social networks is also considered the most effective, surpassingother forms such as websites or business applications, as well as e-commerce.
A representative of Vecom said that the most prominent among social networkswas the birth and strong growth of TikTok Shop.
Doing business on this platform had great appeal to many traders across thecountry, said the representative.
Besides, business activities on e-commerce floors continued to grow steadily.According to a survey by Vecom, 23% of businesses sold products on e-commercefloors last year.
According to Data Science Joint Stock Company, the total sales of the top foure-commerce platforms, along with Tiktok Shop, amounted to about 6 billion USD.
Shopee and Lazada are the two largest e-commerce platforms.
Although only operating since mid-2022, Tiktok Shop has become the thirdlargest retail e-commerce platform in Vietnam./.
VNA
