E-commerce business moving fast

The e-commerce market is moving aggressively, and vendors who restructure operations and capture flexible customer needs will succeed.

Market fluctuations

The Vietnam e-commerce White Paper in 2020 announced by the Ministry of Industry and Trade shows that the retail sales of e-commerce in 2019 reached 10.08 billion USD, up 25% over the previous year, contribution 4.9% of the total retail sales of consumer goods and services nationwide.

The report also states that the top 20 websites and apps providing e-commerce services (including big brands like Tiki, Shopee, Lazada and Sendo) are holding about 72% of the total market revenue.

Despite such impressive numbers, the e-commerce market over the years is still considered to be volatile. A lots of marketplace had to close; even large marketplace had to continuously suffer high losses.

Flexibility to seize opportunities

The COVID-19 pandemic brings many opportunities for e-commerce businesses to break out in the short term. In March 2020, the online department store was crowned as consumers stayed home to avoid epidemics. Particularly, the number of visits to the Bach Hoa Xanh website increased 49% in the first quarter of 2020 compared to the previous quarter.

In the long term, to succeed in e-commerce business when consumers have so many choices today, businesses cannot just focus on growth, they need to focus on infrastructure.

Source: https://nhipcaudautu.vn/kinh-doanh/thuong-mai-dien-tu-chuyen-dong-cung-thoi-cuoc-3337325/