More than 10,000 e-commerce websites were registered in Vietnam at the end of last year, twice the number of 2014, according to a new report by released by the Ministry of Industry and Trade on Thursday.
Their combined sales grew 37 percent to US$4.07 billion, accounting for around 2.8 percent of country's total retail sales, the ministry's Vietnam E-commerce and Information Technology Agency said. The sales were forecast to hit $10 billion in the next five years.
The report covered all companies with websites that allow visitors to buy products and services, not just online retailers à la Amazon.
Biggest earners included Lazada, a subsidiary of Germany's Rocket Internet, platform chodientu, and discount website Hotdeal. Vietnam Airlines and The Gioi Di Dong (Mobileworld) was also named among businesses with strong online sales.
Around 62 percent of Internet users in Vietnam did online shopping last year, compared to 58 percent in 2014, according to the agency, which conducted a survey among nearly 970 Internet users around the country.
Each online shopper spent an average of $160, compared to $145 in the year before, the agency said. With the population of 91.3 million, Vietnam's Internet penetration was last estimated at 45 percent.
Clothes, footwear and cosmetics were the most popular among Vietnamese online shoppers, followed by electronics and digital devices.
Despite their increased engagement in online shopping, 91 percent of the interviewed shoppers paid their online orders in cash, the agency said.
Less than half of them transferred money via bank accounts, while 20 percent used credit cards.