Blog > Marketplace News > Vietnam’s E-commerce Market Continues to Grow: 95% of Online Consumers Participate in Live Streaming Shopping
Vietnam’s E-commerce Market Continues to Grow: 95% of Online Consumers Participate in Live Streaming Shopping
Jayson 28 Apr 2024 08:00
In the first quarter of 2024, the proportion of Vietnamese online consumers purchasing through live broadcasts was as high as 95%. According to data from the Vietnam E-commerce Association (VECOM), Vietnam's e-commerce market will achieve strong growth in 2023, increasing by more than 25% from 2022 to reach US$25 billion, and online retail sales will reach US$17.3 billion.
At the same time, Vietnam's total retail sales of goods in 2023 was 4859 trillion VND (approximately US$191.8 billion), an increase of 8.6% over the previous year. The e-commerce market accounts for approximately 10% of total retail sales, up from 8.5% in 2022.
According to a report by NIQ, a consumer research and retail monitoring organization, Vietnamese online consumers watch shopping live broadcasts for an average of 13 hours per week. Entertainment elements play a positive role in live shopping. 78% of consumers surveyed said they felt relaxed and happy when watching shopping live broadcasts on platforms such as TikTok Shop and Shopee.
In addition, NIQ stated that one of the success factors of live shopping is the use of influencers (KOL, KOC, etc.) to establish effective connections with consumers. About 50% of the respondents said that their purchasing decisions are affected by the recommendations and suggestions of KOLs and KOCs.
At the same time, Vietnam's total retail sales of goods in 2023 was 4859 trillion VND (approximately US$191.8 billion), an increase of 8.6% over the previous year. The e-commerce market accounts for approximately 10% of total retail sales, up from 8.5% in 2022.
According to a report by NIQ, a consumer research and retail monitoring organization, Vietnamese online consumers watch shopping live broadcasts for an average of 13 hours per week. Entertainment elements play a positive role in live shopping. 78% of consumers surveyed said they felt relaxed and happy when watching shopping live broadcasts on platforms such as TikTok Shop and Shopee.
In addition, NIQ stated that one of the success factors of live shopping is the use of influencers (KOL, KOC, etc.) to establish effective connections with consumers. About 50% of the respondents said that their purchasing decisions are affected by the recommendations and suggestions of KOLs and KOCs.
