Vietnam's customers are among the most demanding on e-commerce. (Photo bbqv.org)
Hanoi (VNA) –Vietnam’s e-commerce may be one of the world’s fastest-growingmarkets, but the country’s customers are also among the most demanding.
Nielsen has forecast that the Vietnamese e-commerce market will grow 22 percentthis year and 13.2 percent by 2020.
According to the Vietnam E-commerce Association (VECOM), the local e-commercesector will become a 10-billion-dollar business in the next five years.
However, local consumers are also demanding, with many complaints about price,product information and authorisation, which should be addressed by merchantsto improve customers’ trust.
A research conducted by iPrice and Trusted Company based on more than 30,000reviews on 5,000 websites in Vietnam, Malaysia, Singapore, Indonesia and thePhilippines found that Vietnamese customers have the lowest trust on e-commerceand spend less money on shopping online.
Vietnamese customers complain the most about “fake products”, 15 per centhigher than Thailand, the country with the second maximum complaints, giventhat fact that Thailand ranked 4th worldwide in the fake goods trade.
The second maximum complaints on e-commerce sites by Vietnamese customers areabout the price of products. Despite being an aggressive promotion hunter, theVietnamese still think products listed by e-commerce merchants are overpriced.
Given that 80 percent of consumers prefer cash on delivery (COD) payment, thecountry also has the highest order cancellation rate, with 30 percent ofproducts not being accepted due to product failure, the research said.
Unlike consumers in other Southeast Asian countries such as Singapore andIndonesia that have shared concerns on buying products, the most common queriesof the Vietnamese are on product authorisation (store address) andavailability. They are revealed to often use feedback forms to ask about products.
Of all Southeast Asian countries, Vietnam has an average rating of 3.7 out offive stars, the research has revealed. This is due to the fact that only largemerchants have developed a rating scheme for a better shopping experience forconsumers.-VNA
E-commerce is a market with numerous opportunities for businesses in Vietnam, recording an annual growth rate of 35 percent – one of the fastest rates in the world.
As many as 13,422 Facebook account holders are conducting trading activities through this social network, the Hanoi Taxation Department announced on June 20.
Electronic wallet (e-wallet) services are becoming more popular in Vietnam, with a number of new e-wallet services officially licensed in the last year and a half.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Vietnam's customers are among the most demanding on e-commerce. (Photo bbqv.org) 
