Vietnamese E-Business 2023, retail e-commerce revenue increased by 25% year on year to US$20.5 billion in 2023. - Photo of baochinhphu.vn

HÀ NỘI – The Vietnam Online Business Forum 2024, themed “Sustainable E-Commerce”, kicked off in Hà Nội on April 25.

The annual event, held by the Vietnam E-Commerce Association (VECOM), aimed to provide a comprehensive overview of e-commerce in the past year and shed light on the latest technology trends impacting the industry through a market research on smart consumer behavior and overview of the 2024 e-commerce market and its prominent trends.

Speaking at the event, Director of the Vietnam E-commerce and Digital Economy Agency under the Ministry of Industry and Trade Le Hoang Oanh said e-commerce has experienced the most robust growth in the past decade, with an annual growth rate of 16-30%.

According to the White Book on Vietnamese E-Business 2023, retail e-commerce revenue increased by 25% year on year to US$20.5 billion in 2023. However, it represented only 8% of the total retail sales of goods and consumer services in the country, much lower than the global average of 90.4%.

The forum delved into trends for Vietnam to leverage sustainable practices in its e-commerce sector, develop human resources to strengthen consumer rights protection and narrow the gap in e-commerce development.

Attendees also explored solutions to creating a greener and more sustainable e-commerce environment.

Market research on consumer behavior trends in e-commerce, handbooks for e-commerce growth, optimising affiliate and key opinion consumer (KOC) marketing campaigns to accelerate sales, and the application of AI technology were among the many prominent topics discussed at the forum.

The event also featured a roundtable discussion with experts to share views on lingering issues in the field of sustainable e-commerce. - VNS