Shopee, Lazada, Tiki, and Sendo were the leading e-commerce platforms in Vietnam this year in terms of revenue, according to a report by Metric, a local e-commerce analyzer.
Metric estimated the total e-commerce revenue of the top four platforms will exceed VND135 trillion ($5.72 billion) this year, up 18.4% year-on-year.
Of this, Singapore-headquartered Shopee took the largest portion with VND91 trillion ($3.85 billion), or 73% of the total, followed by Singapore-headquartered Lazada with 21%, local player Tiki with 5%, and Sendo, a subsidiary of local tech giant FPT, with 1%.
It added that about 566,000 sellers on the top four platforms sold 1.3 billion items in the period.
The report showed that beauty products were the best-selling category with revenue of VND22 trillion ($931.97 million), or 16.3% of the total, followed by housing-lifestyle and female fashion.
Regarding sale volumes, housing-lifestyle topped the chart with nearly 200 million items, followed by beauty, female fashion, fashion accessories, and consumer goods-foods.
Items with low prices between VND10,000 and VND50,000 ($2.12) accounted for 37% of sales volume, the largest portion; while items at VND100,000-500,000 ($21.2) accounted for the biggest portion of 42.6% of sales value.
The report particularly emphasized the rise of TikTok Shop, the e-commerce arm of social media giant TikTok. After its debut in April, it became the third-largest e-commerce platform in Vietnam in November with a revenue of VND1.7 trillion ($71.93 million), only behind Lazada and Shopee, two foreign players. In the month, 13 million items were sold on TikTok Shop while 32,000 sellers received orders.
Popularity on social media
According to a December report by Reputa, a local social listening firm, Shopee and Lazada remain the most popular, followed by TikTok Shop, Sendo, and Tiki. Analyzing 534,632 social media entries in November, Reputa said Shopee were far ahead of their competitors with a score of 120.51, while Lazada scored 27.39.
TikTok Shop jumped one rank to third position with a score of 12.42, followed by Sendo with 12.37, and Tiki with 10.09.
Reputa’s report showed that Hanoi and Ho Chi Minh City featured the highest number of discussions with 25.89% and 17.64% of the total, respectively; followed by the central city of Da Nang with 4.11% and Dong Nai province, a southern industrial hub, with 2.41%.
Regarding demographics, people aged between 25 and 34 were involved in the most discussions with 62.56% of the total, followed by people aged between 35 and 44 with 20.09%, and young people between 18 and 24 with 11.83%.
The size of Vietnam’s e-commerce market could grow from $4 billion in 2015 to $57 billion in 2025 according to Google, said the Vietnam E-commerce Association (Vecom).
According to the Ministry of Industry and Trade, 74.5 million Vietnamese people, or 75% of the population, use the internet, of whom 55.7 million, or 74.8% of users, shop online.