During a trip to Japan in 2006, Nguyen Hoa Binh saw that the Japanese were keen on online shopping that, he thought, would be an inevitable trend in the future. Returning to Vietnam, Binh was determined to build an e-commerce website, chodientu.vn, though the Vietnamese people were ignorant of this new trading at that time.
During the first years of establishment, chodientu.vn faced tremendous difficulties in popularising and promoting this new trading to customers because the Vietnamese were used to directly selling and buying goods at traditional markets or shops.
With its strategy for selling unique, strange and hard-to-find products on the website together with opening auctions for these products at the floor price of even 1,000VND each, chodientu.vn gradually drew attention from a large number of customers who then became familiar with searching for and buying goodsonline.
Until 2009, chodientu.vn officially coordinated with Ebay, the world’s leading e-commerce group that has generated new opportunities for cooperation and development of e-commerce in Vietnam.
Based on an analysis of Vietnamese income, chodientu.vn focused on a group of common customers, aged 18-24, with upper middle income, thereby providing suitable goods for this group.
Always aware of high competitiveness together with paying much attention to post-services, such as policies on guarantees, returning or changing goods to maximise the benefits for customers, chodientu.vn has now become Vietnam’s top 10 e-commerce websites having coverage of 100%districtsand towns nationwide.
In 2016, chodientu.vn targets to cover 100% of communes in the whole country. It has now three millionregisteredmembers, 600,000 regular members who conduct trade activities on the website and over 10,000 small andmediumenterprises selling goods.
Vietnam now has a total number of nearly 40 million internet users and 60% of them participate inonlineshopping, meaning that over 20 million people participated inonlinetrade. The total e-commerce income between enterprises and their customers in 2014 reached 2,97 billion dollars, accounting for 2.12% of the total income from retail sales in the whole country, an increase of 25% over 2013.
In its master plan on e-commerce development devised by the Ministry of Trade and Industry, by 2020 Vietnam will strive to have 30% of its population participating inonlinetrade with an overall value ofonlineshopping reaching 350 dollars/person and develop e-commerce payment tools.
Source: http://www.vietnambreakingnews.com/
Key words: The E-Commerce Market, in Vietnam
