The 2023 Cross-border E-commerce Expo Vietnam to be held from August 10-12. — Photo followbee.vn

HÀ NỘI — The 2023 Cross-border E-commerce Expo Vietnam, the first of its kind, will take place in the southern economic hub of HCM City from August 10-12.

During the three-day event, the organiser - Vinexad National Trade Fair and Advertising JSC - will integrate deep cooperation with overseas warehouses, logistics delivery, platform distribution, and mainstream e-commerce platforms. There are also plans to invite a large number of multi-channel networks (MCNs), influencers, anchors, and internet celebrities to fully utilise new media and marketing concepts.

The organiser will also leverage the resources of live streaming sales and agency operations to connect exhibitors with new marketing and sales channels. In addition, the local service team will provide follow-up services for exhibitors.

According to Statista market research company of Germany, online sales will account for about one-tenth of Việt Nam’s total retail sales and revenue of the country’s e-commerce market will reach US$9 billion by 2025.

Products such as cosmetics, home appliances, electronics, fashion, toys and furniture are the fastest growing sectors in Việt Nam's e-commerce. And it is likely that the new retail model will have a strong impact on the traditional sales method.

Statista also revealed that in 2017, the number of online consumers in the country only accounted for about 28 per cent of the total customers. By 2020, the figure climbed to nearly 50 per cent. It is estimated that by 2025, with a population of about 100 million, the number of online consumers in Việt Nam will exceed 70 per cent.

Việt Nam's e-commerce business is rapidly catching up and surpassing other ASEAN countries. In the United Nations 2020 e-commerce survey of 193 countries and territories, Việt Nam ranked 86th, up two places.

In particular, Việt Nam is also actively improving and developing e-commerce with the goal of becoming one of the four major countries in Southeast Asia by 2025. Currently, Việt Nam's 40 million online shoppers' average spending is about $210 a year, ranking second among ASEAN countries. — VNS