HANOI, Dec. 9 (Xinhua) -- Vietnam's potential revenue for e-commerce development in the retail sector could hit 10 billion U.S. dollars by 2020, accounting for half the country's total retail sales, according to the Association of Vietnam Retailers (AVR) on Friday.
In 2015, e-commerce retail surpassed 4.07 billion U.S. dollars, with a growth rate of 20 percent, Vietnam's state-run news agency VNA quoted the AVR as saying.
Dinh Thi My Loan, AVR's chairwoman, said there were many factors promoting e-commerce development, including the popularity of mobile devices.
According to Ho Thi Kim Thoa, Vietnamese Deputy Minister of Industry and Trade, e-commerce was a vital development trend in the retail sector.
Last year, the growth rate of the retail sector was 9.5 percent. Traditional retail made up 80 percent, while modern retail including supermarkets, convenience stores and e-commerce accounted for some 20 percent.
The official urged local businesses to catch up with e-commerce trends and have plans to enhance e-commerce development.
