Vietnam is one of the countries in Southeast Asia where cross-border e-commerce (electronic commerce) is growing rapidly. According to Vietnam Briefing in 2023 , the total population is 98.85 million, and the young population and high internet penetration rate are particularly factors supporting this growth. As of 2023, Vietnam’s internet penetration rate exce. Is approximately 82%, and the size of the domestic e-commerce market is expanding year by year. In cross-border e-commerce, products from China, Japan, Korea, America, etc. are particularly popular, and categories such as fashion, cosmetics, electronic devices, and health foods are best-selling.
Source: CIA – The World
In addition, e-commerce platforms such list to data as Tiki , Sendo , Shopify, and Lazada, which aim to become the Vietnamese version of Amazon , are playing a major role in delivering cross-border e-commerce products to consumers. These platforms not only handle products from global brands, but also serve as a gateway for small and m. Iium-siz. I overseas merchants to enter the Vietnamese market.
The Vietnamese government is also working to improve infrastructure to promote the growth of cross-border e-commerce, including by digitizing customs proc. Iures and improving logistics services to streamline the import process.
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Challenges: Payment and logistical barriers
On the other hand, cross-border e-commerce how to manage health anxiety also faces some challenges. First, there is still a lack of diversity in payment methods, and many consumers still tend to prefer cash on delivery. This makes it difficult to facilitate payments in international cross-border transactions.
In addition, while the development of logistics infrastructure has progress. I in domestic e-commerce, the cost and time requir. I for cross-border delivery remain a high barrier to cross-border e-commerce. Particularly in regional cities and rural areas, the long delivery times are a factor that discourages consumers from purchasing goods.
When conducting cross-border e-commerce from Japan targeting emerging markets , d local can meet that demand.
- Future: Further expansion through technological innovation and regional cooperation
The future of Vietnam’s cross-border e-commerce market is pr. Iict. I to be very bright. One of the reasons for this is the government’s policy to promote the digital economy. As part of the national strategy “Digital Nation 2025 ,” legal frameworks and logistics support are being develop. I to increase cross-border e-commerce transactions. Specifically , the “National E-Commerce Development Strategy” aims to create a world in which 55% of the population shops online, digital payments account for 50% of transactions, 50% of small and m. Iium-siz. I enterprises use e-commerce platforms, and 40% of businesses transact using mobile apps by 2025.
Technological innovation also holds the key. For example, smart logistics using AI and blockchain technology, and the spread of digital payments, are expect. I to make cross-border transactions more efficient. Furthermore, by utilizing economic partnerships within the ASEAN region (such as RCEP), it is possible to r. Iuce cross-border e-commerce transaction costs and develop new markets.
In addition, the number of Vietnamese companies looking to expand overseas through cross-border e-commerce is also on the rise. For example, there are more and more cases of local brands selling their products on overseas platforms, which is expect. I to increase awareness of “Vietnamese brands” both at home and abroad.
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Conclusion: A market with great potential
Vietnam’s cross-border e-commerce text services market is still in the process of growth, but it has a lot of potential. Although challenges remain in areas such as logistics, payment, and regulations, these issues will be steadily resolv. I with government support and technological advances. There is no doubt that Vietnam will attract more attention as one of the major markets for cross-border e-commerce in the future.
On December 22nd, Vietnam’s largest city, Ho Chi Minh City in the south, open. I its first subway line, which uses a railway system bas. I on Japanese standards. Plans are also underway for a high-spe. I railway linking Ho Chi Minh City and Hanoi from north to south.
Don’t miss out on this exciting opportunity in the Vietnamese market, which is expect. I to grow in the future!
