Vietnam’s Digital Economy Growth Rate Highest in Southeast Asia

DNHN - Of the three major digital economies in Southeast Asia, Vietnam has the fastest growth rate (31%), followed by Indonesia (21%) and Thailand (21%).

"Consumer Industries' Journey to Digital Maturity," a new research on the consumer goods industry, was just launched by Deloitte Vietnam. Vietnam is one of the three biggest digital economies in Southeast Asia, according to the survey. The economy of the area is expanding, particularly in the field of the digital economy.

In the consumer industry, Deloitte's research focuses on creating digital commerce strategies and data analytics in Southeast Asia's three biggest digital economies: Vietnam, Thailand, and Indonesia.

According to the report, consumer digital adoption has increased significantly. This trend is predicted to continue driving sustainable growth through 2025. Investing in data analytics is thought to be a good approach to boost revenue growth while cutting expenses.

One of the most generally appreciated advantages of using digital commerce platforms is digital marketing. Nevertheless, there are still certain obstacles to overcome when using e-commerce channels, such as channel conflict, worries about losing market share, and inadequate IT assistance.

Three major trends that are influencing the consumer products industry's digital maturity are outlined in the report:

Developing a digital business: To meet customer expectations and boost business performance, consumer enterprises in Southeast Asia are using data analytics in their digital commerce strategy.

Fostering a digital culture: To create a cultural environment, businesses must concentrate on consciously altering the organisational culture while also fostering digital mindsets and reshaping leadership.

Putting into practice a smooth omnichannel strategy: Businesses should concentrate on creating and putting into practice a seamless omnichannel strategy that integrates consumer experiences across online and physical channels.

Of the three major digital economies in Southeast Asia, Vietnam has the fastest growth rate (31%), followed by Indonesia (21%) and Thailand (21%). Vietnam is estimated to have a $200 billion digital economy by 2030, having grown from $23 billion in 2022 to $49 billion in 2023.

P.V