Shipping to Vietnam represents a prime opportunity for eCommerce businesses looking to expand cross-border.
Per Export.gov, trade between the U.S. and Vietnam in particular has boomed since former U.S. President Bill Clinton lifted a trade embargo against the Asian nation in 1994, resulting in greatly increased trade between the two countries. The resulting boom has created an outstanding opportunity, especially for online merchants who wish to tap into the country’s growing market.
Before your company starts shipping to Vietnam, it’s important to better understand it’s eCommerce market. This guide offers some market insights, information on popular online marketplaces in the country, important information about shipping and selling to Vietnam and more!
Vietnam Market Insights
Vietnam is a very promising eCommerce market. It’s current GDP per capita is $2,327, though this figure is estimated to grow to $3,105 by 2021.
Out of the country's population of approximately 92 million, 35.4 million currently are eCommerce users. By 2021, this number will increase an additional 6.6 million users, meaning that 58 percent of the population will be using eCommerce on a regular basis.
Further studies show that the average eCommerce user spends about $62 online, which is expected to increase to $92 by 2021. Younger people are generally more Internet savvy in Vietnam, though older generations also use the web fairly frequently.
Online Marketplaces in Vietnam
Many global online marketplaces like eBay are used in Vietnam, though national marketplaces are also popular in the country.
Some popular national online marketplaces of Vietnam include:
Popular international online marketplaces also include:
What Do the Vietnamese Like to Buy Online?
People in Vietnam spend money on a wide array of items, particularly personal care products, electronics and media. Electronics in particular has led the market in recent years, generating $842 million in sales annually.
Toys and hobby items come in second, accumulating $387 million in market share.
By 2021, electronics will still be leading the market with an estimated $1.3 billion in sales while fashion is estimated to grow to second in terms of market share, reaching about $900 million in total.
When is the Best Time to Sell in Vietnam?
Tet, or Vietnamese New Year, is the most important holiday in the country and is celebrated annually near the beginning of the calendar year.
Notably, many merchants, both online and brick-and-mortar, hold sales leading up to and around Tet every year. eCommerce entrepreneurs looking to enter the Vietnamese market should keep this in mind to optimize their online stores for sales in the country.
Shipping to Vietnam
Before shipping to Vietnam, online merchants need to know what import restrictions and prohibitions are currently in place. Just as importantly, it’s important to know about shipping costs to Vietnam and whether major eCommerce markets like Amazon currently operate in the country.
Here’s a quick look at just that!
Is Shipping to Vietnam Cheap?
Many shipping companies offer affordable shipping solutions to Vietnam. Be sure to use the Easyship rate calculator to find the cheapest, fastest and best overall value options when shipping to Vietnam!
Simply add your destination and origin with parcel dimensions and the list of most affordable couriers will be displayed to help you choose which one suits your needs best. For example, DHL shipping to Vietnam is currently displayed in the list as one of the fastest and affordable options for Vietnam, making it a great option to consider.
Is Amazon Available in Vietnam?
Does Amazon ship to Vietnam? Yes, Amazon does indeed ship to Vietnam. The U.S.-based eCommerce giant has increasingly focused on the East Asian nation as of late, meaning that shipping to Vietnam via Amazon will likely become considerably easier in the years ahead.
Restricted and Prohibited Items in Vietnam
Vietnam, like any country, has its own sets of import restrictions and prohibitions.
Understanding them before shipping and selling to the country is crucial if you want to avoid any unwelcome surprises!
Restricted Items in Vietnam
Restricted items in Vietnam include some of the following:
- Endangered animals
- Perishable items
A more exhaustive list can be found here.
Prohibited Items in Vietnam
Items completely prohibited from entering Vietnam include:
- Firearms and explosives
- Counterfeit items
- Cultural heritage items
More detailed information about the import rules and regulations in Vietnam can be found here.
Vietnam: One of Asia’s Top eCommerce Opportunities
Vietnam is a very promising opportunity for eCommerce business in light of its recent market growth. Online merchants looking for lucrative cross-border opportunities in Asia should definitely consider Vietnam very closely.
Easyship is a great partner when it comes to shipping to Vietnam. We offer a hybrid solution for shipping and order fulfillment as well as useful guides for additional information on the Vietnamese eCommerce market.
Sign up for free today to explore eCommerce opportunities in the booming Vietnamese market!