Mobile shopping is outpacing traditional e-commerce channels in terms of growth
Mobile commerce is gaining momentum is growing markets. In Vietnam, more consumers are beginning to use their smartphones to make purchases rather than their conventional computers. PC-commerce is shrinking at a slow rate, with the mobile space thriving as more retailers begin to offer mobile-centric services. Lazada, the largest e-commerce company in Vietnam, expects the mobile space to continue growing, noting that the majority of its business now comes from mobile shoppers.
Lazada has high hopes for its mobile shopping endeavors
According to Lazada, approximately 60% of its sales come from mobile shoppers. The company has taken note of an aggressive rise in the demand for mobile shopping support and Lazada is working eagerly to engage consumers and satisfy this demand. In 2015, about 45% of the transactions that were made through the Lazada website came from mobile devices. Lazada expects that this will grow to 65% by the end of this year as more consumers use their smartphones and tablets to shop online.
Consumers in Vietnam consider mobile shopping to be convenient and effective
Mobile shopping is growing quickly throughout the Asian market, with smartphone penetration accelerating significantly. In Vietnam, consumers are finding that shopping with their mobile devices is more convenient and, in some ways, more secure. Retailers are embracing this trend, allowing consumers to shop on their websites with their smartphones. Notably, many consumers prefer to use web browsers rather than applications, as browsers provide them with a more enjoyable shopping experience.
Mobile commerce will likely continue seeing strong growth in Vietnam
Mobile commerce has had a major impact on the overall e-commerce market in Vietnam. Many retailers have begun engaging the mobile space, hoping to find more success by supporting mobile shoppers. There are more than 20 million smartphone users in the country, which represents approximately 24% of Vietnam’s populace. Most of these consumers are between the ages of 18 and 35 and are quite comfortable with the concept of mobile shopping.
The funding raised by Payleven will be used to expand into new product lines and accelerate customer acquisition. The funding will also help the company stay competitive in the financial technology space. The market has become extremely competitive, with several companies, some of which are quite large, have become involved in this space, introducing new and highly popular mobile payments platforms. This competitive environment has fostered innovation, but some companies have found it difficult to connect with both consumers and businesses.