E-commerce in Vietnam, the bell has sounded !
Launched in 2007 by the Samwer brothers, the German business incubator Rocket Internetinvested significantly in high-potentiale-commerce start-ups and supported them with their development strategies. It enabled different online shopping websites to use the same financial, logistical and operational platforms. In particular, Rocket Internet helped to launch the now famous sites such as CityDeal (bought by Groupon), Zalando, e-Darling…
Based on the success of its launches in Europe, Rocket Internet now has a presence in 20 countries worldwide and made a grand entrance into the south-east Asian market (Malaysia, Singapore, Indonesia, Thailand etc.) in 2011. In the last few weeks the platform even took its first few steps into Vietnam!
E-commerce building up momentum in the land of the dragon
This choice was made with good reason as e-commerce represents an extraordinary opportunity in Vietnam. It is predicted to reach a figure of 6 billion dollars in 2012 according to the CCIFV conference last August.
36% of the population or 30 million people regularly use the internet. This figure is constantly growing and the number of online purchases is rising accordingly. Internet users are not only developing the habit of searching for products on the web but also want to pay for their purchases online. Young people in particular are fans of this way of shopping. Moreover, the under 30s make up 60% of the population – so there is a big opportunity for e-commerce to target these internet users!
Conquering the market
Within this context, this business model has expanded considerably in Vietnam and its south-east Asian neighbours, as indicated by the success of online supermarket123mua.com.vn, launched 6 years ago.
However, the new players in e-commerce need significant financial means and real strategic support to take over this brand new market, as this form of business is just starting out in Vietnam. The Rocket Internet giant, an expert in launching e-businesses has arrived at just the right time. Thanks to their huge financial resources and their experience in the field, they could well transform this emerging market in Vietnam, starting with the retail sector… watch this space!