VietNamNet Bridge - As the laws set light sanctions on violators, e-commerce websites and sellers would rather pay fines than obey the law. Several days ago, Lazada.vn, a well known e-commerce website in Vietnam, was discovered selling equipment to assemble antipersonnel guns. Lazada is not the only website that displays prohibited products. Other sites even offer to sell bows and arrows, gun accessories (such as rifles and pistol holsters), toys that affect children's psychology and personality, and sex products. How to punish Lazada? Lazada is not the only website that displays prohibited products. Other sites even offer to sell bows and arrows, gun accessories (such as rifles and pistol holsters), toys that affect children's psychology and personality, and sex products. Dang Hoang Hai, director of the E-commerce and Digital Economy Agency on February 18 told Nguoi Lao Dong’s reporters that the agency was coordinating with the police to find out if the displayed … [Read more...] about E-commerce websites continue to violate laws, operate like flea markets
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The Hanoitimes - Single-market merchants and digital payment will certainly become even more notable in the upcoming year. Vietnam e-commerce sales grow 20% annually Vietnam’s e-commerce, which is predicted to growth 43% from now until 2025, will go through 2019 with three notable dimensions in which single-market merchants would be the market trend. Illustrative photo Digital payment and entertainment while shopping would be other interesting market movements this year thanks to exciting activities experienced in 2018, according to Dang Dang Truong, Content Marketing Executive at iPrice Group. The rise of domestic single-market merchants Domestic single-market merchants such as Tiki, Thegioididong, and Sendo.vn are expected to outperform other rivals after impressive improvements in 2018 for attracting both user traffic and investment, according to iPrice’s data on the Vietnamese market. The most impressive is Tiki. Its monthly website … [Read more...] about Three dimensions of Vietnam’s e-commerce in 2019
Amazon and Alibaba to compete in Vietnam e-commerce’s ring, source: Pinterest Amazon begun its foray into Vietnam by striking up a partnership with Vietnam Trade Promotion Agency (VIETRADE) under the Ministry of Industry and Trade to support Vietnamese businesses to boost exports via Amazon’s marketplaces. Vietnam is the second fastest growing market in Southeast Asia (just behind Indonesia), according to a report by Google and Temasek, and already features Alibaba. The Vietnamese e-commerce sector is worth about $2.8 billion, with an annual growth rate of 87 per cent. Simon Baptist, global chief economist at The Economist Intelligence Unit, pointed out: “Vietnam has a young population proficient in technology who are making it a habit to buy goods online, with their rising income. In addition, Vietnam is trying to promote the non-cash economy with the goal of having 50 per cent of urban households use electronic payments for daily transactions by 2020,” … [Read more...] about Amazon and Alibaba to compete in Vietnam e commerce’s ring
Vietnam’s e-commerce websites are still receiving heavy investment to develop despite big losses, but when will these projects stop losing? The Vietnamese e-commerce market is one of the leading markets in the region for investment. According to Nielsen, the annual growth speed of the e-commerce market is 22% and is expected to hit US$10 billion in annual revenue by 2022 from the current US$4 billion. The Vietnamese e-commerce market shows huge potential for development and receives great attention from new investors. In a recent report by Topica Founder Institute, e-commerce attracted US$83 million of foreign investment through 21 deals. Startup SEA (used to be Garena, which was termed as a unicorn in Asia), ranked first among investors pouring capital into Vietnamese startups in 2017. SEA spent US$64 million acquiring 82% of the shares in Foody, a food delivery website and app. CyberAgent Ventures, a Japanese venture investment fund, continues its activities in Vietnam. In … [Read more...] about When will Vietnam’s e-commerce players stop “burning money”?
Photo for illustration (Source: thoibaonganhang.vn) Vietnam is one of the world’s fastest growing e-commerce countries, according to Lai Viet Anh, Deputy Director of Vietnam E-commerce and Information Technology Agency (VECITA) under the Ministry of Industry and Trade. The country’s e-commerce is growing 35 percent per year, 2.5 times faster than Japan, he said. The number of Vietnamese businesses capable of taking advantage of the internet and technology has grown 2.1 times faster than those with less use of the internet. Small- and medium-sized enterprises (SMEs) that spend more than 30 percent of their budget on technological innovation are growing nine times faster than those spending less than 10 percent of their budget. Vietnam’s e-commerce retail sales growth in the 2016-2020 period is estimated at 20 percent per year, and the country’s total retail e-commerce sales is expected to reach USD10 billion by 2020, Anh said. However, e-commerce has faced … [Read more...] about E-commerce expected to grow strongly in 2018