Vietnam

Vietnam

General Information

  • Population 98.3 m
  • Population 15 + 75.5 m
  • Online Population 70.9 m
  • Area 331,212 km2
  • Currency EUR
  • GDP 368.0 bn USD
  • GDP per Capita 3,744 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"23"},{"label":"Cash-based payments","value":"23"},{"label":"Bank transfer","value":"24"},{"label":"Wallets","value":"25"},{"label":"Other","value":"5"}]
Banked population
  • Vietnam 33%
  • Asia Pacific 71%
  • World 67%
Credit card penetration
  • Vietnam 4%
  • Asia Pacific 13%
  • World 19%
Internet penetration
  • Vietnam 72%
  • Asia Pacific 60%
  • World 62%
Smartphone penetration
  • Vietnam 74%
  • Asia Pacific 71%
  • World 70%

The Viet Nam E-commerce and Digital Economy Agency has said that the country has the highest number of e-commerce consumers in Southeast Asia with 49.3m people shopping online.

According to AEONE supermarket in Vietnam, the number of customers using cashless payment methods has increased by 50% over the first half of the year.

58% of Vietnamese consumers shop for their groceries online and cite convenience as their reason, and 53% state they now think of this as the normal way to do grocery shopping.

76% of consumers currently use mobile wallets and 82% use cards as the number of people carrying less cash has increased to 65%.

Future e-commerce trends (2021-2026)

E-Commerce market size forecast ($US billion)
2022 18.0
2023 21.5
2024 25.0
2025 28.2
2026 31.7
E-Commerce spending per capita ($US)
2022 182
2023 215
2024 248
2025 278
2026 310
E-Commerce spending as % of GDP
2022 5.6
2023 6.0
2024 6.2
2025 6.2
2026 6.2

Vietnam

The E-Commerce Market

Top e-commerce segments

  1. Electronics & Media: 28%
  2. Fashion: 22%
  3. Food & Personal Care: 18%
  4. Furniture & Appliance: 17%
  5. Toys, Hobby & DIY: 15%

Cross-border e-commerce

  1. Online shoppers who have shopped cross-border – 36%

Top 3 cross-border shopping origin markets

  1. US
  2. China
  3. Japan
B2C E-commerce Growth 20->21
  • Vietnam 24.3%
E-commerce % of total retail
  • Vietnam 8%
  • Asia Pacific 23.8%
  • World 20%
E-commerce completed on a mobile device
  • Vietnam 61%
  • Asia Pacific 59%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • Local Schemes
  • Other
[{"label":"Visa","value":"6"},{"label":"Mastercard","value":"5"},{"label":"Local Schemes","value":"88"},{"label":"Other","value":"1"}]
  • E-commerce market size 14.8 bn USD
  • E-Commerce spending per capita 151 USD
  • E-commerce spending as % of GDP 5.1%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

Vietnam

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 GrabPay Type Wallet Regions Asia Pacific Market relevance High Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High 123 Type Bank transfer, Cash Regions Asia Pacific Market relevance High AirPay Type Wallet Regions Asia Pacific Market relevance High Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Moca / Grab Type Wallet Regions Asia Pacific Market relevance High MoMo Type Wallet Regions Asia Pacific Market relevance High NganLuong Type Wallet Regions Asia Pacific Market relevance High Pay@Store Type Cash Regions Asia Pacific Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Samsung Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High VNPAY QR Type Other Regions Asia Pacific Market relevance High WebMoney Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 1 Market relevance High Bao Kim Type Wallet Regions Asia Pacific Market relevance Medium eMonkey Type Wallet Regions Asia Pacific Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium VTC Pay Type Wallet Regions Asia Pacific Market relevance Medium Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium Napas e-commerce service Type Wallet Regions Asia Pacific Market relevance High NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 ZaloPay Type Wallet Regions Asia Pacific Market relevance High

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