Vietnam is fast becoming one of the biggest e-commerce markets in Southeast Asia. In 2023, Vietnam E-commerce Market Expansion was valued at $20.5 billion. By 2025, it’s expected to more than double to $45 billion. That places the country among the top three markets in the region and in the top ten fastest-growing globally. The numbers don’t stop there. From 2025 to 2032, the market is projected to grow at a compound annual growth rate (CAGR) of 18.9%, potentially reaching a massive $144.9 billion by 2032. What drives this number?
Vietnam E-commerce Market Expansion: Strong and Steady Momentum
Growth is not just projected—it’s already happening. In 2023, Vietnam’s e-commerce sector grew by 25% year-on-year. Over the past decade, retail e-commerce sales have increased at an average rate of 20% annually.
This shows that online shopping in Vietnam isn’t just a trend—it’s a long-term shift in consumer behavior. Local businesses and foreign investors alike are taking notice.
Cross-Border Vietnam E-commerce Market Expansion Drives New Value
A key part of the Vietnam E-commerce Market Expansion story is cross-border trade. In 2023, over 17 million Vietnamese products were sold through digital platforms to international buyers. This led to a 50% increase in export revenue and a 40% rise in the number of sellers.
Cross-border e-commerce grew by 28.5% compared to the previous year, proving it’s a major growth engine for small and medium-sized Vietnamese enterprises.
Government Support and Ambitious Goals
Vietnam’s government is also helping to drive e-commerce adoption. National plans aim to boost e-commerce usage to 55% of the population and raise per capita e-commerce spending to $600 by 2025. This shows strong public-sector support for the digital economy, which helps build trust and infrastructure. In rural and underserved regions, this is especially important.
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Growth Beyond the Cities
Vietnam’s online economy is expanding well beyond big cities like Hanoi and Ho Chi Minh City. E-commerce is now growing in provinces nationwide, helping bring modern retail to more consumers. Local businesses are thriving, with revenue and output growing by more than 50% in 2023. As internet access and digital payments become more widespread, even more growth is expected in second-tier cities and rural areas.
Tech Investment to Fuel the Future of Vietnam E-commerce Market Expansion
To keep up with demand and competition, 60% of companies operating in Vietnam plan to invest in digital payments, e-commerce platforms, and artificial intelligence. These investments are not just about convenience—they help reduce costs, improve efficiency, and create better customer experiences.
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Buyer Behavior and Market Confidence
Vietnamese consumers are also embracing the digital shift. In 2023, the number of buyers choosing local products online grew by 55%, and the volume of Vietnamese goods listed on e-commerce platforms increased by 24%.
This growing confidence is key. When people trust online platforms and see value in local products, the entire ecosystem becomes stronger.
The Road Ahead: Vietnam E-commerce Market Expansion
The future of e-commerce in Vietnam looks bright. From $20.5 billion in 2023 to a projected $144.9 billion by 2032, the growth is undeniable. The Vietnam E-commerce Market Expansion is not only creating business opportunities—it’s changing how the country shops, sells, and connects with the world. For businesses, now is the time to act. Whether it’s expanding logistics, upgrading tech, or entering the cross-border space, those who move fast will gain the biggest rewards.
