Over 3,000 enterprises to join Online Friday

The 2016 Online Friday will be held on December 2, attracting more than 3,000 enteprises with 50,000 promotional products under the guarantee of the organising board.

Press briefing on the 2016 Online Friday
Press briefing on the 2016 Online Friday

The information was released by Deputy Director of the Vietnam E-Commerce and Information Technology Agency (VEITA) under the Ministry of Industry and Trade Lai Viet Anh at a press briefing in Hanoi on August 18.

This year, the organising board will ask enterprises to sign a commitment on properly providing promotional products as well as publicise the original and listed price before the Online Friday.

Major commodities showed at this year will be electronics, household appliances, fashion and tourism produced and distributed by numerous famous bands in Vietnam, offering most preferred prices to consumers.

The first Online Friday was held in 2014, with over 160,000 purchases and a total transaction value of VND154 billion (around US$6.9 million). In 2015, 2,500 enterprises participated in the Online Friday, generating around VND500 billion (around US$22.4 million).

The 2016 Online Friday is expected to gain a total revenue of VND1 trillion (around US$44.8 million) from purchasing promotional products and services.

According to the plan for development of e-commerce during the 2016-2020 period, the turnover from business-to-consumer type of e-commercial transactions will reach US$10 billion in 2020, increasing 20% per year; meanwhile turnover from business-to-business will account 30% of export turnover.

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