Digital Transformation In Southeast Asia With Facebook's Khoi Le ...

Vietnam and Southeast Asia: Making a breakthrough in digital transformation

Southeast Asia is considered a leading region in digital transformation. According to a report by SYNC Southeast Asia, by the end of 2022, there will be 350 million digital consumers (who are over 15 years old), accounting to 80% of consumers across the region.

Khoi Le, Head of Business and Solutions for Facebook Vietnam, said that in Southeast Asia, nearly 100 million people have switched to digital consumption due to the impact of the pandemic in 2020-2021. In Vietnam alone, it is estimated that about 53 million Vietnamese people have switched to digital in the past two years.

The above figures are the springboard for the explosive growth of the e-commerce market in Southeast Asia, with the number of transactions growing by 1.4 times compared to previous years. E-commerce sales are expected to double by the end of 2026, equivalent to about $250 billion.

In Vietnam, e-commerce sales in 2021 also increased by 50% compared to the same period of last year. The Vietnamese market is also predicted to have the strongest growth in the region — by 4.5 times within the next 5 years, corresponding to 56 billion USD by the end of 2026.

These figures prove the strong development of the Southeast Asian market. With these evident changes in consumer behavior, Le said brands need to consider all the digital touchpoints that customers are likely to interact with during their online purchase.

According to Le, social media serves as a bridge that helps brands reach the right customers. With the rapid pace of digital transformation, the problem here is no longer attracting but retaining customers and increasing the conversion rate.