E-tail turnover forecast to reach $10 billion by 2020

Electronic retail turnover reached US$4 billion in 2015 and is forecast to hit US$10 billion by 2020 accounting for 5 percent of Vietnam’s retail revenue, reported the Vietnam E-Commerce Association (VECOM).

In 2015, e-commerce helped 43 percent of businesses in Vietnam increase revenue. 62 percent internet users across the country used to buy goods online with the total value of US$160 a person.

According to the association, the current revenue is small compared to the market’s huge potential because of customers’ low belief in online purchase.

By T. Tuyet – Translated by Hai Mien

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