Today, January 24th, the quarterfinals of the Asian Cup will be held.
Japan’s opponent will be Vietnam. Vietnam is famous for Vietnamese cuisine such as pho, fresh spring rolls, and banh mi.
Currently, Vietnam is experiencing an unprecent soccer boom. Apart from soccer, the country has continu to develop remarkably, with a high GDP growth rate of 6.81% in 2018 and a trade surplus of about $3.3 billion in the first half of 2018, the highest ever.
The Internet is also being develop
and the online shopping (EC) market jamaica whatsapp data is growing at a pace of 35% increase year on year, just like the growth of the economy.
In this article, we will look into the Internet and EC situation in Vietnam, where it is said to be difficult to enter the cross-border EC market.
Basic information about Vietnam
Vietnam’s official name is the social media platform thinks your content is relevant Socialist Republic of Vietnam.
The long, narrow, S-shap country borders China to the north, Laos to the northwest, and Cambodia to the southwest.
Vietnam has a population of approximately 95.56 million, and the time difference from Japan is minus two hours. Travel time from Japan is approximately five hours. The country is characteriz by a long summer and a hot, humid climate. Basic information is summariz below.
- Population: Approximately 95,562,435 (2017)
- Area: 329,241 km2 (about 90% of Japan)
- Race/Ethnicity: Viet, other minorities
- Government: Socialist republic
- Capital: Hanoi
- Religion: Buddhism, Christianity, Islam, Cao Daiism, others
- Language: Vietnamese
- Currency: Vietnamese dong
- Time difference: -2 hours When it is noon in Japan, it is 10:00 a.m. in Vietnam.
- GDP: Approximately US$223.5 billion
- GDP per capita: US$2,385
- Economic growth rate (2017, annual average): 6.81%
- 1 dong (VND) = 0.005 yen (as of the end of October 2017)
- Average salary: Approximately 20,000 to 30,000 yen
Vietnam’s Internet Situation
Vietnam is focusing on information and communication technology nationwide, and the number of internet users is increasing by nearly 30% every year. Smartphone ownership is about 53%, and this is also expanding along with internet usage. Compar to
Japan, the free Wi-Fi environment is more abundant. Rather than buying a PC, people seem to buy a smartphone and enjoy social networking sites, online games, video calls, etc. at cafes.
Below is a summary of internet-relat data.
- Internet penetration rate (as of the end of December 2017): 66.3%
- Internet-connect population: Approximately 46 million
- Internet growth rate (2000 to December 31, 2017): 320 percent increase
- Vietnam’s smartphone ownership rate was 53%, ranking 25th in the world. (The survey was conduct from February 16 to May 6, 2017.)
- In terms of SNS usage, Vietnam was at 53% of the global average.
Vietnam’s e-commerce scene is developing, but there are many challenges
Last year, Amazon announc its entry into Vietnam. It is also estimat that the size of Vietnam’s e-commerce market will reach 1 trillion yen in 2020. What is the situation with e-commerce
in Vietnam? According to Lai Viet An, an executive at the Vietnam Information Technology and Electronic Commerce Agency, “Vietnam’s e-commerce market is growing at a rate of 35% per year, which is about 2.5 times that of Japan.”
In addition, according to data from market research company Kantar Worldpanel, the proportion of online shoppers in Vietnam’s four major cities increas from 5.4% the previous year to 8.8% in 2017.
The estimat size of the e-commerce market in 2017
Was about 500 billion yen, and it is business sale lead prict that this will reach 10 billion dollars (1.94 trillion yen) in 2020. It can be said that Vietnamese e-commerce is a market with great potential.
As e-commerce in Vietnam continues to develop, problems have also been point out. That is, the high cancellation rate.
35% of EC buyers said they have cancel their purchases, pointing to issues such as low consumer trust in products and services and the safety of online payments.
The reason behind this is that 85% of consumers pay by “cash on delivery at the time of delivery.” This is thought to be because “cash on delivery” purchases make it easy to cancel by not paying the price.