In September 2016, the ‘.shop’ domain name was officially put up for sale. Nearly 40,000 ‘.shop’ domain names were sold all over the world within 30 minutes and 60,000 domain names were registered within the first day of open sale, a sharp increase compared with 5,000 domain names in the EAP period.
Of 60,000 domain names registered, with the sale price of $150,000, or VND3 billion, beauty.shop became the most expensive ‘.shop’ domain name registered.
Analysts said it was easy to remember and to read, while it bears the typical characteristics of business stores, especially in Vietnam.
Owners of businesses and shop tend to pay more money to obtain beautiful and meaningful domain names to polish their presence on the internet.
Vietnamese FPT, VinaPhone, Bizweb and Sapo (belonging to DKT Technology JSC) have quickly acquired ‘.shop’ domain names. Many institutions and individuals have registered domain names with great potential such as ‘dongho.shop’ (watch), hoatuoi.shop (flora) and ‘ruouvang.shop’ (wine) to serve their business purposes in the future.
‘.shop’ domain name is provided by GMO-Z.com Runsystem through Z.com brand which has developed strongly in Japan and Singapore, and in Thailand and South Korea.
Tran Trong Tuyen, CEO of DKT which develops bizweb.vn, an online sale platform, said DKT has joined forces with Z.com to develop ‘.shop’ domain names in Vietnam.
According to Tuyen, as store chains and retailers grow, ‘.shop’ will be the domain name with the greatest potential in Vietnam.
Currently,‘.shop’ domain names in Vietnam are priced at between VND800,000 and VND5 million, while ‘.com’ and ‘.net’ are priced at VND180,000-300,000.
Most recently, ‘.shop’ domain name appeared at Online Friday 2016, an event organized by the Ministry of Industry and Trade and the Vietnam E-commerce Association (VECOM) on December 2, 2016.
Tran Duc Tam, chief representative of Z.com Vietnam, the distributor of ‘.shop’ domain names in Vietnam, said the domain names are provided to all individuals and institutions, with no preferences to jobs or business fields.
However, Z.com has found that clients registering ‘.shop’ domain names are mostly those who do business in online sales and traditional retail.
Nearly 27,700 “.vn” domain names were created in the first three months of 201, increasing the total number of “.vn” domain names to 354,608, according to the Ministry of Information and Communications (MIC).