Vietnam 4th in Asia-Pacific for online shopping
92% of Vietnamese people shopped online in first half and 96.2% said they would make at least one online shopping transaction, latest Mastercard report finds.
More than nine in ten people in Vietnam (92 per cent) shop online, putting the country fourth in the Asia-Pacific region following South Korea (96.7 per cent), India (95.8 per cent), and Japan (95 per cent), according to Mastercard’s latest online shopping survey for Asia-Pacific.
While online security remains a vital consideration for consumers in the region, this doesn’t stop them from shopping online. In Vietnam, only 34 per cent of Vietnamese consumers feel safe when shopping online, but when asked, up to 96.2 per cent of respondents said they would make at least one online purchase transaction in the first half of 2017, which ranked the country second in the region, behind China (97.3 per cent).
The survey’s results show that although nearly 54 per cent of consumers in Asia-Pacific feel safe when shopping online, the factor that plays the most important role in attracting consumers in the region to shop online is still safe payment methods (85.9 per cent), along with price (85.5 per cent), and convenience (85.1 per cent).
This is most evident in Indonesia, with 95.3 per cent, followed by the Philippines (92.2 per cent), Taiwan (91.5 per cent), and Malaysia (91.2 per cent).
Keenness for online shopping in Vietnam ranks second only to China (97.3 per cent), and above India (92.9 per cent), Malaysia (92.8 per cent), and Thailand (87.1 per cent).
To drive growth in e-commerce in the region, more work can be done to improve the user’s shopping experience, with free or low delivery charges (62.9 per cent), guaranteed secure transactions (45.9 per cent), and the minimization of incidents in transaction processes (44.1 per cent) topping the list of suggested improvements to online shopping by respondents.
“Consumers in Asia-Pacific want to have more convenience and safety when shopping online,” said Mr. Ben Gilbey, Senior Vice President, Payment & Research, at Mastercard Asia Pacific. “Although our research shows that the majority of consumers feel safe, we cannot stop developing solutions to address and prevent potential safety concerns and security. As such, we will continue to work collaboratively with stores and leading industry partners to design, develop, and deliver a fast, simple, smooth and secure e-commerce experience, which includes digital wallets and biometric payments that can help reshape and redefine the shopping experience for consumers.”
Vietnam’s online shopping market is projected to continue booming in the years to come, with online sales estimated to reach $10 billion by 2020, accounting for 5 per cent of total retail sales, according to the Vietnam E-commerce Association.
According to a government master plan, up to 30 per cent of Vietnam’s population will be involved in online shopping by 2020, with annual spending estimated at $350 per shopper.
More than nine in ten people in Vietnam (92 per cent) shop online, putting the country fourth in the Asia-Pacific region following South Korea (96.7 per cent), India (95.8 per cent), and Japan (95 per cent), according to Mastercard’s latest online shopping survey for Asia-Pacific.
While online security remains a vital consideration for consumers in the region, this doesn’t stop them from shopping online. In Vietnam, only 34 per cent of Vietnamese consumers feel safe when shopping online, but when asked, up to 96.2 per cent of respondents said they would make at least one online purchase transaction in the first half of 2017, which ranked the country second in the region, behind China (97.3 per cent).
The survey’s results show that although nearly 54 per cent of consumers in Asia-Pacific feel safe when shopping online, the factor that plays the most important role in attracting consumers in the region to shop online is still safe payment methods (85.9 per cent), along with price (85.5 per cent), and convenience (85.1 per cent).
This is most evident in Indonesia, with 95.3 per cent, followed by the Philippines (92.2 per cent), Taiwan (91.5 per cent), and Malaysia (91.2 per cent).
Keenness for online shopping in Vietnam ranks second only to China (97.3 per cent), and above India (92.9 per cent), Malaysia (92.8 per cent), and Thailand (87.1 per cent).
To drive growth in e-commerce in the region, more work can be done to improve the user’s shopping experience, with free or low delivery charges (62.9 per cent), guaranteed secure transactions (45.9 per cent), and the minimization of incidents in transaction processes (44.1 per cent) topping the list of suggested improvements to online shopping by respondents.
“Consumers in Asia-Pacific want to have more convenience and safety when shopping online,” said Mr. Ben Gilbey, Senior Vice President, Payment & Research, at Mastercard Asia Pacific. “Although our research shows that the majority of consumers feel safe, we cannot stop developing solutions to address and prevent potential safety concerns and security. As such, we will continue to work collaboratively with stores and leading industry partners to design, develop, and deliver a fast, simple, smooth and secure e-commerce experience, which includes digital wallets and biometric payments that can help reshape and redefine the shopping experience for consumers.”
Vietnam’s online shopping market is projected to continue booming in the years to come, with online sales estimated to reach $10 billion by 2020, accounting for 5 per cent of total retail sales, according to the Vietnam E-commerce Association.
According to a government master plan, up to 30 per cent of Vietnam’s population will be involved in online shopping by 2020, with annual spending estimated at $350 per shopper.
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