Vietnamese consumers spent $5.68 billion on e-commerce in the first half of the year

HANOI, July 25 (Xinhua) — Vietnamese consumers spent 143.9 trillion VND (5.68 billion U.S. dollars) to purchase 1.53 million items on five e-commerce platforms in the first half of this year, the Vietnam News Agency reported on Thursday, citing market analysis firm Metric.

This represented an increase of 54.91 per cent and 65.55 per cent, respectively, compared to the same period last year.

The company said the growth came mainly from TikTok Shop and Shopee. Both platforms recorded positive growth rates of 150.54 percent and 65.96 percent in revenue during the cited period.

As stated in the report, these figures show that Vietnam has a strong e-commerce market and that retailers are able to take advantage of online shopping trends.

In its latest report, OpenGov Asia, a content platform dedicated to sharing ICT-related knowledge and information, said that Vietnam’s e-commerce market has recorded an average annual growth of 16-30 percent over the past four years, the highest among the Association of Southeast Asian Nations member states.