The report by Appota relates to dedicated apps for mobile devices, update market information in Vietnam which is one of the fastest growing mobile application markets in the world.
Most Vietnamese check their mobile phone right after waking up and spend over two hours a day on their phone. Specifically, around 75 percent of Vietnamese adults use their phone within 15 minutes after waking up while just seven percent of their peers don’t.
Most smartphone users in Vietnam are young and middle-class consumers with the user rate of 72 percent who start to look for a product and play game on their phone while 69 percent of them use smartphone for watching video clip and listening to music.
According to Appota’s statistics, approximately 25 percent of smartphone owners visit internet regularly, engaging in all online mobile-related activities; therefore, mobile phone becomes a working device for many people.
Besides, many Vietnamese people own more than two Internet-connected devices, as the national average is 1.7 percent.
Appota said that the fast increase in smartphone owners and frequent mobile internet users proves Vietnam is a giant market for mobile enterprises. The Vietnamese in the report are willing to try new apps, but at the same time they have the highest uninstall rate among APAC markets.
The Vietnamese people install five new apps every month on average resulting in a difficult challenge for publishers to retain user. Three apps are uninstalled every month on average by Vietnamese people; therefore, it is a challenge for app developers to keep users.
Seventy-two percent of total visits on e-commerce websites are from mobile phone and 53 percent of e-commerce purchases are made on mobile phone. E-commerce on mobile phone has fast growth with$6.14 billion in e-payments in 2017 accounting for 22 percent.
Vietnam is a deep-rooted cash society with a majority of transaction is made with cash. 46 percent say they don’t want to use mobile payment because they don’t have a bank account, and concerns about losing banking information. Consequently, 88 of e-commerce payments are cash-on-delivery.
Appota said in the report since mobile fin-tech ecosystem is still under development this time leading to most challenge is to educate the consumer how to use e-banking, as well as gaining trust from the consumer on online payment.
Advertising on mobile phones in Vietnam is not as giant as other Asian countries. However, total spending on mobile ads has been increasing rapidly. If $78 million was spent on mobile ads in 2017, it was forecast that $ 220 million will be by 2020.
Marketing director of Appota Dang Thai Son said that mobile apps develop expand gradually offering more opportunities for both small and large enterprises pushing the country’s economy.