Retail Delivery - Vietnam

Vietnam

Highlights

The revenue in the Reail Delivery market in Vietnam is projected to reach US$1.09bn in 2024.
This is expected to show an annual growth rate (CAGR 2024-2029) of 13.96%, resulting in a projected market volume of US$2.10bn by 2029.
In Vietnam's Reail Delivery market, the number of users is expected to amount to 14.4m users by 2029.
The user penetration is projected to be 10.3% in 2024 and is expected to hit 14.1% by 2029.
The average revenue per user (ARPU) is expected to be US$106.30.
In global comparison, United States generates the most revenue in the Reail Delivery market, with US$195.40bn in 2024.
The United States has the highest projected user penetration rate in the Reail Delivery market, with a rate of 30.4%.
Vietnam's retail delivery market is experiencing a surge in demand as online shopping becomes increasingly popular among its tech-savvy population.

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Retail Delivery market in Vietnam has experienced significant growth in recent years, driven by changing consumer preferences and advancements in technology.

Customer preferences: Vietnamese consumers are increasingly turning to online shopping, with a preference for fast and convenient delivery options. This has led to a rise in demand for same-day and next-day delivery services, as well as a greater emphasis on transparency and real-time tracking of orders. Additionally, consumers are placing a greater importance on eco-friendliness and sustainability, leading to an increase in demand for environmentally-friendly packaging and delivery options.

Trends in the market: The Retail Delivery market in Vietnam is characterized by intense competition, with both domestic and international players vying for market share. E-commerce platforms are investing heavily in logistics infrastructure, with a focus on expanding their last-mile delivery capabilities. The rise of online marketplaces has also led to an increase in demand for cross-border delivery services, as Vietnamese consumers look to purchase products from overseas.

Local special circumstances: Vietnam's geography presents unique challenges for logistics providers, with the country's long and narrow shape making transportation of goods more difficult. Additionally, the country's underdeveloped road and transportation infrastructure can lead to delays and increased costs for delivery companies. However, the government has made significant investments in infrastructure in recent years, with a focus on improving transportation networks and reducing bottlenecks.

Underlying macroeconomic factors: Vietnam's strong economic growth and rising middle class have contributed to the growth of the Retail Delivery market. With a population of nearly 100 million people, Vietnam represents a significant market opportunity for e-commerce companies and logistics providers. Additionally, the country's young and tech-savvy population is driving demand for online shopping and delivery services. Overall, the Retail Delivery market in Vietnam is expected to continue to grow in the coming years, driven by changing consumer preferences and favorable macroeconomic conditions.

Data coverage:

The data encompasses B2C enterprises. Figures are based on Gross Merchandise Value (GMV) and represent what consumers pay for these products and services. The user metrics show the number of customers who have made at least one online purchase within the past 12 months.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on predefined factors for each market. As a basis for evaluating markets, we use annual financial reports of the market-leading companies, third-party studies and reports, as well as survey results from our primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, GDP per capita, and internet connection speed. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing. The main drivers are internet users, urban population, usage of key players, and attitudes toward online services.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. GCS data is reweighted for representativeness.