E-commerce web traffic from Vietnam is double that of Thailand and triple that of Malaysia in Q3, showing high demand for online shopping amid the pandemic, a report has found.
Digital consumption has become a new habit as the number of online vendors increases, with Vietnam becoming “a star” on the Southeast Asian e-commerce market, according to the Q3 market report by iPrice Group.
Vietnam is set to exceed Thailand by 2025 to become the second-biggest internet economy in Southeast Asia with a scale of $57 billion, behind Indonesia at $146 billion, according to the e-Conomy Southeast Asia 2021 report by Google, Temasek, and Bain & Co.
However, foreign companies are still dominating Vietnam’s e-commerce market in terms of web traffic.
Singapore’s Shopee accounted for 57 percent of traffic in the third quarter, followed by another Singaporean company Lazada at 16 percent.
Vietnamese startup Tiki ranked third with 13 percent of traffic.
The report also pointed out Vietnamese consumers interact on the social media pages of e-commerce platforms more frequently than Thai but less than Malaysians, showing the importance of Facebook in promoting brands in Vietnam.