Title [METRIC] Online Retail Market 2023 & forecast 2024.pdf ✅

*Statistical data from 01/01/2023 – 12/31/2023 FULL VERSION Online Retail Market 2023 Comprehensive report Forecast 2024
2 | Foreword Comprehensive report on the Vietnamese Online Retail market in 2023 With an estimated growth rate of 9.6%, the total revenue from retail of goods and services in 2023 has exceeded the industry's planned target (target growth rate of 8% - 9%). Notably, E-commerce continues to shine, positively impacting the digital economy, especially in domestic distribution and consumption. According to data from the E- commerce and Digital Economy Bureau, E-commerce has grown by 25%, ranking among the world's top performers. However, businesses faced challenges throughout the year 2023. While experts consider the development of E- commerce to be rapid, numerous barriers still exist. Firstly, the competition on E-commerce platforms is fierce, with hundreds of businesses selling the same product, turning the market into “red ocean”. Secondly, the prevalence of counterfeit and low-quality products directly affects the credibility of genuine brands and the entire E-commerce economy. The consumers’ mentality of using E-commerce platforms for cheap and less important items persists. Lastly, uneven development among provinces hinder many local businesses from accessing E- commerce platforms systematically and accurately. Entering the year 2024, as the market share on E-commerce platforms is shaped by prominent brands, businesses need a more strategic and systematic approach to this platform. Within this context, prioritizing optimal business models and adopting technologies like AI or Big Data,... will be one of the most popular solution to this business challenge. The comprehensive report on the Online Retail market in 2023 and the forecast for 2024, conducted independently by Metric, relies on public data and is not influenced by third-party entities. The report excludes two types of products: service packages and gifts with abnormal volumes which are not commensurate with consumers’ feedback and ghost orders. This objective market insights will serve as a foundation for businesses and sellers to conduct deeper analyses and timely adjust your business and marketing strategies for the year 2024.
3 | Content Comprehensive report on the Vietnamese Online Retail market in 2023 04 07 Overview of the Online Retail market Highlight numbers A snapshot of the period 2021 - 2023 Analysis of the Online Retail market in 2023 Highlight numbers in 2023 Statistics by sectors and price segments Market share by brands and Sellers Market share by shop types and regions Statistics by buyer reviews 18 43 Detail analysis on key The Beauty The Grocery, Food & Beverage The Home Appliance Forecast of the Online Retail market in 2024 Market size growth Online Shopping Trends
I. Overview of the Online Retail Market Statistical data from 01/01/2021 – 12/31/2023