The picture of e-commerce revenue is a solid basis for evaluating the current status and development potential of the e-commerce industry globally, in Southeast Asia, and in the Vietnamese market specifically.

In recent years, e-commerce has increasingly developed clearly in the economic market, affirming the advantages of the modern and convenient online shopping model.

From early 2020 until now, the emergence of the Covid-19 pandemic has turned the world upside down, with economic sectors constantly adapting to maintain a "new normal" due to the severe impact of the pandemic. At that time, e-commerce was the only industry to record normal growth amidst the stagnation of global economies.

Global growth stems from business advantages

This reality is a common situation worldwide, as the e-commerce industry possesses distinct advantages that can fully cope with the challenges of the Covid pandemic. The complex and unpredictable developments of the pandemic acted as a springboard, creating momentum for the e-commerce industry.

Amidst the general context of the pandemic, to ensure personal and family safety, people gradually shifted their shopping habits to online shopping. Gradually, online shopping became a preference and an effective form of entertainment, deeply integrating into people's lifestyles and daily routines.

Thanks to the advantages of fast, safe, convenient shopping with many promotions, the e-commerce industry has leveraged its strengths, gradually boosting revenue growth.

The e-commerce market is predicted to continue strong revenue growth in the coming years. According to statistical reports from eMarketer.com, the White Paper compares: If global B2C e-commerce revenue reached 4,280 billion USD in 2020, it is predicted to be 4,891 billion USD in 2021 and increase to 5,424 billion USD in 2022. In 2023, revenue will continue to rise to 5,908 billion USD, and in 2024, it will be 6,388 billion USD.

China is the country with the largest B2C e-commerce revenue, reaching 2,297 billion USD in 2020, and predicted to be 2,779 billion USD in 2021. Meanwhile, the United States has lower revenue, with 794 billion USD in 2020. It is predicted to increase to 843 billion USD in 2021.

In Southeast Asia, B2C e-commerce revenue was 38 billion USD in 2019, increasing to 62 billion USD by 2020.

Thus, the Covid-19 pandemic has strongly impacted the development of the e-commerce industry in the region and globally. According to Google's 2020 Internet Economy report for Southeast Asia, the number of internet users surged from 360 million in 2029 to 400 million in 2020.

The report also cites that the proportion of new online shoppers in Vietnam is the highest (Over 40%), while the average in Southeast Asia is 36%, Indonesia and the Philippines are 37%, Malaysia is 36%, and Singapore and Thailand are 30%.

During the pandemic, the average number of hours users spent online shopping each day also increased from 3.7 hours/day to 4.7 hours/day.

The essential items chosen by new online shoppers accounted for the following proportions: Education (55%), followed by food, lending services, and food delivery services....

E-commerce revenue in the Vietnamese market continuously grows strongly

Although it is still a relatively new industry in the Vietnamese market, e-commerce has developed extremely strongly and has a very high ripple effect.

According to the 2021 E-commerce White Paper, Vietnam's B2C e-commerce revenue has continuously increased sharply over the past 5 years as follows: 2016 (5 billion USD), 2019 (10