THE HANOI TIMES — Vietnamese consumers spend over VND1.23 trillion (US$48 million) on online shopping each day, highlighting the strong ongoing shift toward digital consumption, according to the latest report by e-commerce growth consultancy YouNet ECI.

The above figure refers to the revenue of all platforms, including both major and smaller ones, or direct sales websites.

The fast-moving consumer goods (FMCG) sector remained a key growth driver, surging 167% on TikTok Shop and 20% on Shopee in the first half of this year.

To boost online transactions, the Ministry of Industry and Trade (MoIT) has approved the National E-Commerce Development Master Plan for 2026-2030, setting a target for 70% of the adult population to participate in online shopping by 2030.

The plan aims to make e-commerce a key driver of the digital economy by outlining strategic goals by boosting digital infrastructure, enhancing consumer trust, and developing online platforms.

The development of e-commerce in the coming years will be in line with national strategies, including the National Digital Transformation Program, the Strategy for Digital Economy and Digital Society Development, and the MoIT's key projects.

The move aims to optimize the entire value chain, from production to consumption, through technological solutions, and boost the domestic and international consumption of Vietnamese products via e-commerce.

The latest report on the online retail market in 2024, conducted by the market data platform Metric, has identified Vietnam as the fastest-growing country for online shopping in Southeast Asia.

The report found that the gross merchandise value of five major e-commerce platforms, including Shopee, Lazada, TikTok Shop, Tiki, and Sendo, reached VND318.9 trillion ($12.7 billion) in 2024, representing a 37.4% increase from 2023. This figure accounted for nearly 6.5% of the country's total retail sales for the year.

In 2024, Vietnamese consumers spent an average of VND873.6 billion ($34.8 million) daily on the top five e-commerce platforms. The volume of goods sold through these five platforms also surged by over 50% compared to 2023, totaling more than 3.4 billion products.