In the first half of 2024, Vietnamese consumers spent an impressive VND143.9 trillion ($6 billion) on online shopping, highlighting the rapid expansion of the country’s e-commerce sector.
E-commerce continues to be a significant growth area in Vietnam’s economy. According to market analysis firm Metric, the sector saw over 54% growth in both sales and transaction volume compared to the same period in 2023.
The leading five e-commerce platforms—Shopee, Lazada, Tiki, Sendo, and TikTok Shop—reported remarkable figures, with VND143.9 trillion ($6 billion) in sales and 1.533 million successful deliveries. This marks a 54.91% increase in revenue and a 65.55% rise in transaction volume compared to the first half of 2023.
This growth underscores the strong development of Vietnam’s e-commerce market and shows how businesses are leveraging the shift from offline to online shopping.
A notable trend is the rise of Shop Mall (official store) segments. In the first half of 2024, the number of Shop Malls increased by 12.29% compared to the same period last year.
High-volume sellers on Shopee often have warehouses in Hanoi and Ho Chi Minh City, the country’s major economic hubs with advanced logistics systems. Additionally, the Red River Delta region is emerging as a promising area due to its dense population and high consumer demand.
Beauty products, women’s fashion, and home goods continue to lead in both sales and volume across all five e-commerce platforms. Notably, affordable products priced under VND200,000 remain highly attractive, with a 3% increase in market share compared to last year. This trend reflects a broader pattern of budget tightening amid current economic conditions, with consumers prioritizing affordable options.
In the first half of 2024, technology brands such as Apple, Samsung, and Xiaomi dominated the top sales rankings, highlighting strong consumer demand for tech products.
Among the top 10 highest-grossing brands in Vietnam’s e-commerce market, only one local brand, Vinamilk, made the list. This underscores the intense competition on e-commerce platforms and suggests that domestic brands need more strategic planning to enhance their market presence.
According to Metric, the back-to-school season (late August to early September) is a peak period for office supplies on e-commerce platforms. Sales of stationery items such as pens, notebooks, and various types of paper surged as consumers prepared for the new school year. These products, typically priced under VND50,000, remain popular among Vietnamese shoppers.
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Source: Vietnam Insider