1. Market size and growth
Rapid growth: According to a report released by Metric, the total sales of Vietnam’s e-commerce market reached 227.7 trillion VND (approximately US$9 billion) in the first nine months of 2024, a year-on-year increase of 37.66%. This shows that Vietnam’s consumer electronics market is in a stage of rapid growth.
Future Forecast: It is expected that Vietnam’s e-commerce market will grow to US$39 billion by 2025, becoming one of the fastest-growing e-commerce markets in Southeast Asia. At the same time, Vietnam’s household appliance market revenue is expected to reach US$8.68 billion and continue to grow.
2. Consumer behavior and preferences
Online shopping habits: Vietnamese consumers are increasingly inclined to shop online, especially young consumers. According to a report released by Q&Me, the majority of people shop online every month, and the level of online shopping expenditure varies greatly, but people in the middle spending range account for a considerable proportion.
Category preferences: Beauty, home and lifestyle, and home appliances are the top three online shopping categories in Vietnam. Among them, the market size of the beauty category increased by 42% from US$856 million in the first 12 months to US$1.213 billion; the market size of home and lifestyle increased by 51% to US$1.053 billion; the market size of household appliances increased by 64% from US$381 million to US$1.053 billion. $626 million.
Decision-making factors: Price and promotion are the most important factors for Vietnamese consumers when making online shopping decisions, followed by product quality and review ratings. This shows that consumers are very concerned about the quality of the product itself and the shopping experience of other users.
3. E-commerce platform performance
Mainstream platforms: Shopee, TikTok Shop, Lazada and other e-commerce platforms dominate the Vietnamese market. These platforms attract a large number of consumers through rich product categories, favorable prices and fast delivery speeds.
Emerging platforms: In addition to mainstream platforms, there are also some emerging platforms that are also actively expanding into the Vietnamese market. These platforms have won the favor of consumers through innovative marketing strategies and quality services.
4. Market Opportunities and Challenges
opportunity:
The Vietnamese government has promulgated many policies and regulations to help enterprises achieve digital transformation and provide a good development environment for the consumer electronics market.
With a high proportion of young people, the demand for consumer electronics products is increasing.
With the development of the economy and the increase of consumer income, the demand for high-end consumer electronics products in the Vietnamese market is also growing.
challenge:
Vietnam’s local electronics companies are mainly composed of small and medium-sized enterprises, facing challenges such as a lack of skilled labor and advanced technology, and unfavorable order and payment terms.
Competition in the global consumer electronics market is fierce, and Vietnamese companies need to continuously improve their competitiveness to occupy a place in the global market.
5. Exhibition Overview
Name: Vietnam International Electronic Components and Consumer Electronics Exhibition (VIETNAM ELECTRONICS)
Held period: Held once a year
Exhibition location: Saigon Convention and Exhibition Center, Ho Chi Minh City, Vietnam
6. Exhibition Features
Large scale: The exhibition area usually reaches tens of thousands of square meters, with a large number of exhibitors and visitors. It is one of the important consumer electronics and components exhibitions in Vietnam and even Southeast Asia.
Rich exhibits: Exhibits cover various types of electronic components, consumer electronics, home appliances, etc., including but not limited to server systems, desktop computers, personal computers, tablets, smartphones, peripherals, control equipment, HDD, SSD, flash memory cards, USB data storage devices, etc., as well as various types of TVs, audio equipment, smart homes, video cameras, digital cameras, game equipment, etc.
High degree of internationalization: The exhibition attracts exhibitors and visitors from many countries and regions around the world, providing exhibitors with opportunities to communicate and cooperate with international counterparts.
Strong professionalism: A series of technical forums, seminars and other activities about the electronics industry are usually held during the exhibition, providing a platform for exhibitors and visitors to understand industry trends and share best practices.
7. Exhibition value
Promote communication and cooperation: The exhibition provides a platform for communication and cooperation for consumer electronics manufacturers, suppliers, industry professionals and related institutions, helping to promote the development of the global consumer electronics industry.
Understand market trends: Exhibitors and visitors can learn about the latest developments and trends in Vietnam and the global consumer electronics market through the exhibition, providing reference for enterprises’ strategic planning and product development.
Expand the market: The exhibition provides exhibitors with opportunities to expand the Vietnamese and Southeast Asian markets, helping companies to develop new business areas and sales channels.