Vietnam is one of the few landscapes in Southeast Asia that has an influx of local players where website visits are comparable to giants such as Lazada.
Retail ecommerce in the country is expected to earn $10 billion revenue by 2020 and its ecommerce landscape has been developing at a growth rate of 30% a year as businesses slowly shift from offline to online, with some doing purely online businesses.
Despite it’s key local players and promising growth rate, Vietnam’s local ecommerce websites are PR shy outside of their own country. To start the Vietnam conversation, here are a list of the most downloaded shopping apps and key ecommerce players in Vietnam, on both iOS and android.
Listed as the second leading retailer in Vietnam in 2015, TheGoiDiDong (Mobile World) specializes in selling multi-brand technology goods to consumers, such as tablets and mobile phones from a range of global brands like Apple and Samsung. Last year, the online marketplace targeted $1 billion in revenue and launched 123 mobile phone outlets offline.
Recently, it was reported that Mobile World’s 2017 revenue is expected to reach $2.83 billion. The group is the third largest retailer in Vietnam, right behind Co op Mart and Big C and the company will rely on revenue from the online marketplace until 2018.
Currently, the B2C marketplace sits comfortably in the top 5 most downloaded shopping apps in Vietnam for both Android and iOS. This year, Sendo collaborated with its owner, IT company FTP to launch V-FTP wallet, an e-wallet platform to ease monthly bill payments and simplify ecommerce purchases.
Due to this added feature, Sendo predicts that online payment on its site will rise 30-40% each year compared to only 5% last year.
Currently, the website draws in 8 million visitors. Sendo’s manging director, Tran Hai Linh was included in ecommerceIQ’s SPARK 40 list as one of Southeast Asia’s most notable ecommerce figures.
3. Tiki (B2C)
Tiki is one of Vietnam’s most promising startups. Originally an online bookstore in 2010 which sold English content, Tiki has since then focused on young female readers. This year, Tiki is valued at $44.83 million, making it one of the big boys in Vietnam ecommerce.
It’s founder Son Tran made ecommerceIQ’s SPARK 40 list as one of Southeast…
How will oil prices shape the Covid-19 recovery in emerging markets?
– After falling significantly in 2020, oil prices have returned to pre-pandemic levels
– The rise has been driven by OPEC+ production cuts and an improving economic climate
– Higher prices are likely to support a rebound in oil-producing emerging markets
– Further virus outbreaks or increased production would pose challenges to price stability
A combination of continued production cuts and an increase in economic activity has prompted oil prices to return to pre-pandemic levels – a factor that will be crucial to the recovery of major oil-producing countries in the Middle East and Africa.
Brent crude prices rose above $60 a barrel in early February, the first time they had exceeded pre-Covid-19 values. They have since continued to rise, going above $66 a barrel on February 24.
The ongoing increase in oil prices, which have soared by 75% since November and around 26% since the beginning of the year, marks a dramatic change from last year.
Following the closure of many national borders and the implementation of travel-related restrictions to stop the spread of the virus, demand for oil slumped globally.
In the wake of the Saudi-Russia price war in early 2020, Brent crude prices fell from around $60 a barrel in February that year to two-decade lows of $20 a barrel in late April, as supply increased and demand plummeted. The value of WTI crude – the main benchmark for oil in the US – fell to record lows of around $40 a barrel last year on the back of a lack of storage space.
While global demand for oil remains low, one factor credited with reversing the trend is the decision to make significant cuts to oil production, which subsequently tightened global supplies.
How the Rural-Urban Divide Plays Out on Digital Platforms
It is one thing for entrepreneurs, whether urban or rural, to create and operate an online store, as some digital platforms have made it relatively easy to manage an e-store – even by using just a smartphone.
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