The Vietnamese e-commerce market is dominated by ChoDienTu.vn, aVietnamese e-commerce product, which holds 29 percent of market share.However, the situation may change in the immediate future, said theEnglish language news website VietNamNet Bridge on June 12.
In2006, when ChoDienTu.vn completed the 300th transaction, Nguyen HoaBinh, the founder and president of PeaceSoft, the owner of ChoDienTu.vn,said in an interview to the Financial Times that he hoped e-Bay, thegiant, would knock at his company’s doors some day.
His words turned into reality in early 2011 when e-Bay agreed to buy 20 percent of the stakes of ChoDienTu.vn.
Expertsbelieve that ChoDienTu.vn has been successful because its ownersunderstand the importance of the online payment solutions.
ChoDienTu.vnjoined hands with Techcombank in 2006, Dong A Bank in 2007, and OnePayand other international institutions in 2008 to insure all thetransactions made by customers on the website.
In 2011,ChoDienTu.vn launched NganLuong.vn, an online payment tool developed byitself. NganLuong is now the leading online payment portal in Vietnamwith 27 percent of the market share.
In 2013, PeaceSoft sold 50 percent of the capital in NganLuong.vn to a Malaysian partner, MOL Access Portal.
However, the map of the e-commerce market may have to be redrawn once other players have jumped on the bandwagon.
Binh of PeaceSoft admitted that Lazada, with such huge investment capital, would be a formidable rival for any domestic rival.
However, he said PeaceSoft has a “powerful eco-system” which can help it provide high quality services and attract customers.
Thepowerful system Binh mentioned includes ChoDienTu.vn and eBay.vn,the two retail websites, NganLuong.vn, an online payment tool, andShipChung.vn, an online delivery services, and AdNet.vn, and an adnetwork that helps retailers promote sales.
While Lazada and ChoDienTu.vn are busy fighting for the No. 1 position, they have to deal with smaller rivals as well.
Therivals include VatGia.com, which is now in third position in the marketwith 16 percent of the market share, and is described as an “unpleasantplayer”.
A report said that the website attracted 50 percent ofthe Vietnamese unique visitors in 2013. It now accommodates 24,000shops, which generate 4 trillion VND (188 million USD) worth oftransactions every year.
Many owners of Groupon websites have also seen great opportunities in the market if they change their business strategies.
Fouryears ago was the time which witnessed the mushrooming of a series ofGroupon websites in Vietnam, including NhomMua, CungMua, MuaChung andHotDeal, which followed the US Groupon’s business model.
But most of the Groupon websites of this kind follow a new model – daily deal – with no limitation on time and number of buyers.
HotDealsaid it receives 10,000 orders a day on average. It has completed aplan to expand the storehouse area by three times for new expansion.
Tiki.vnis considered a “phenomenon” in the e-commerce market. Established as abook trading website in 2010, Tiki.vn now displays 55,000 products innine different business fields, and is called Vietnam’s Amazon.com.-VNA
In2006, when ChoDienTu.vn completed the 300th transaction, Nguyen HoaBinh, the founder and president of PeaceSoft, the owner of ChoDienTu.vn,said in an interview to the Financial Times that he hoped e-Bay, thegiant, would knock at his company’s doors some day.
His words turned into reality in early 2011 when e-Bay agreed to buy 20 percent of the stakes of ChoDienTu.vn.
Expertsbelieve that ChoDienTu.vn has been successful because its ownersunderstand the importance of the online payment solutions.
ChoDienTu.vnjoined hands with Techcombank in 2006, Dong A Bank in 2007, and OnePayand other international institutions in 2008 to insure all thetransactions made by customers on the website.
In 2011,ChoDienTu.vn launched NganLuong.vn, an online payment tool developed byitself. NganLuong is now the leading online payment portal in Vietnamwith 27 percent of the market share.
In 2013, PeaceSoft sold 50 percent of the capital in NganLuong.vn to a Malaysian partner, MOL Access Portal.
However, the map of the e-commerce market may have to be redrawn once other players have jumped on the bandwagon.
Binh of PeaceSoft admitted that Lazada, with such huge investment capital, would be a formidable rival for any domestic rival.
However, he said PeaceSoft has a “powerful eco-system” which can help it provide high quality services and attract customers.
Thepowerful system Binh mentioned includes ChoDienTu.vn and eBay.vn,the two retail websites, NganLuong.vn, an online payment tool, andShipChung.vn, an online delivery services, and AdNet.vn, and an adnetwork that helps retailers promote sales.
While Lazada and ChoDienTu.vn are busy fighting for the No. 1 position, they have to deal with smaller rivals as well.
Therivals include VatGia.com, which is now in third position in the marketwith 16 percent of the market share, and is described as an “unpleasantplayer”.
A report said that the website attracted 50 percent ofthe Vietnamese unique visitors in 2013. It now accommodates 24,000shops, which generate 4 trillion VND (188 million USD) worth oftransactions every year.
Many owners of Groupon websites have also seen great opportunities in the market if they change their business strategies.
Fouryears ago was the time which witnessed the mushrooming of a series ofGroupon websites in Vietnam, including NhomMua, CungMua, MuaChung andHotDeal, which followed the US Groupon’s business model.
But most of the Groupon websites of this kind follow a new model – daily deal – with no limitation on time and number of buyers.
HotDealsaid it receives 10,000 orders a day on average. It has completed aplan to expand the storehouse area by three times for new expansion.
Tiki.vnis considered a “phenomenon” in the e-commerce market. Established as abook trading website in 2010, Tiki.vn now displays 55,000 products innine different business fields, and is called Vietnam’s Amazon.com.-VNA
