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Vietnam Online Classifieds Market will be Driven by Increasing Number of Property Launches Coupled with Rising Consumer Spending in the Country: Ken Research
October 2019

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“In 2018, Vietnam’s nominal GDP per capita reached USD 2,211, an increase of 5.4% compared to 2017. A solid increase in GDP per capita suggested that an average Vietnamese have more disposable income to spend, which acted as one of the major growth factors for online classifieds market in the country”.

The report titled Vietnam Online Classifieds Market Outlook to 2023 - By Horizontal and Vertical Classifieds, By Source of Revenue (Listings and Advertising), By Verticals (Automobile, Properties and Recruitment)by Ken Research suggested that the online classifieds market in Vietnam has been increasing due to rising government initiatives, entry of new players with unique business models, value added services, innovative advertising campaigns, introduction of various value added services and enhanced technology features such as 360 degree view and virtual tours coupled with rising interest rate on purchase of new goods through EMI options.  The online automotive, property and recruitment classifieds market is expected to register a positive CAGR of 12.3%, 21.8% and 12.5% respectively in terms of revenue during the forecast period 2018-2023E.

Changing Consumer Mindset: As Vietnam started to expeditiously adopt the internet, the migration from print to digital in Vietnam was inevitable and has proven itself to be quite lucrative for digital players. The people in Vietnam have showcased a positive attitude towards online classifieds and shifted their focus from large display ads to online classifieds owning to their cheap running cost. With the current internet penetration and increasing number of smart phone users in the country, it is expected that online classifieds market will continue to exhibit notable growth across various verticals.

Urbanization and Increase in Consumer Spending- Vietnam’s consumer market is constantly evolving, driven by changing consumer lifestyles, income, and behavior. The country has experienced a steady progression of disposable income in recent years, which can be seen in its rapid growth of total consumer expenditure from USD 80 billion to USD 171 billion between 2010 and 2018. The country is also experiencing urbanizing at a rate of 3.4% per year, most of which is in and around Ho Chi Minh City and Hanoi. Urbanization, especially in the two large economic centers, has a central role to play in Vietnam's economic growth and online classifieds industry as a whole.

Increase in Government Expenditure: The increase in government expenditure after the prolonged housing crisis in 2009 is one of the major drivers for the increase in online listings of residential units in Vietnam. The government provided the real estate market with a USD 1.4 billion stimulus package in 2013, subjected developers to stricter financial requirements, and bought USD 8 billion of non-performing loans especially from the real estate sector. The State Bank of Vietnam (SBV), the country’s central bank, slashed the refinance rate and discount rate several times, and a VND 5 trillion (approximately USD 215 million) credit package was given to homebuyers by the Vietnam Bank for Industry and Trade (Vietinbank).

Key Segments Covered:-

Vietnam Online Automotive Classifieds Market

By Vehicle Type

Premiums and SUV’s

Hatchbacks

Motorbikes

Others

By Revenues Source

Listing Revenues

Advertisement Revenues

By Listings

Free Listings

Paid Listings

Vietnam Online Property Classifieds Market

By Property Type

Residential Sector

Commercial Sector

Industrial and Others

By Sale or Rental Listings

Rental Listings

Sale Listings

By Market Structure

Secondary Market (Brokers)

Primary Market (Builders)

By Revenues Source

Listing Revenues

Advertisement Revenues

By Region

Ho Chi Minh

Hanoi

Da Nang

Others

Vietnam Online Recruitment Classifieds Market

By Industry

Sales

Marketing

Customer Service

Others

By Sources of Revenue

Recruiters

Job Seekers

By Recruiters Revenue

Job Listing

Advertisement Revenues

Database Access

By Type of Registered Customers

Companies

Consultants

By Region

Ho Chi Minh

Hanoi

Bin Duong

Others

Snapshot of Vietnam Online B2B Classifieds Market

Snapshot of Vietnam Online C2C Classifieds Market

Key Target Audience:-

Online Classified Companies

Advertising Agencies

Automobile Companies

Construction Companies

Real Estate Brokers

HR Consultancies

E-Commerce Companies

B2B Businesses

Investors and VC Firms

Time Period Captured in the Report:-

Historical Period: 2013- 2018

Forecast Period: 2019E - 2023E

Companies Covered:-

Online Automotive Classifieds Market:-

Bonbanh

Oto.com

Carmudi

Online Property Classifieds Market:-

Batdongsan.com

MuaBannhaDat

Propzy

Rever

Online Recruitment Classifieds Market:-

Vietnamworks

Careerbuilder

Vieclam24h

Jobstreet

Careerlink

Online B2B Classifieds Market:-

Vietnamesemade

Tradekey

Tradeboss

Vietaz

EC21

Online C2C Classifieds Market:-

Chotot

Muaban

Rongbay

Phomuaban

For more information on the research report, refer to below link:-

Vietnam Online Classifieds Market

Related Reports:-

Philippines Online Classifieds Market Outlook To 2021 - Growing Real Estate Market & Demand For Used Cars To Gain Traction In Future

Indonesia Online Classified Market by Categories (B2B, C2C, Property, Auto, Recruitment) and By Source (Listing and Advertisement) - Outlook to 2021

Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249



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