Lotte Wants Big Bite into Vietnam’s E-commerce Market

Tuan Minh

18:44 25/10/2016

BizLIVE - South Korean retail giant Lotte will launch an online shopping website to make foray into Vietnam’s well-performing e-commerce market.

Lotte Wants Big Bite into Vietnam’s E-commerce Market

E-commerce revenues in Vietnam are likely to double from $4 billion in 2015 to $8 billion in 2025. Photo: Internet

South Korea’s top retailer will launch an online shopping website in Vietnam this week in a move to capitalize on the rapidly-growing e-commerce market in the country, VnExpress reported.
The website will offer all items on display at Lotte’s physical stores, with clothes and cosmetics expected to play a big role.
Seo Tae Ho, managing director of Lotte E-commerce – which runs the website, said that the company will pursue an aggressive price strategy and launch big promotion campaigns to attract shoppers.
With such a strategy, the firm aims to help Lotte become a leader in Vietnam’s e-commerce market with a market share of 20%, Ho added.
With the latest move, Lotte’s retail operations now covers stores, supermarkets, TV sales, online and mobile commerce.
According to Google and Temasek, e-commerce revenues in Vietnam are likely to double from $4 billion in 2015 to $8 billion in 2025, driven by a young population and the rapid growth of the tech-savvy and middle income class.

TUAN MINH