Vietnamese people spent VND1,860 billion ($79 million) last year on buying 24.97 million kids toys on Shopee, Lazada, Tiki, and Sendo, the most popular e-commerce sites in the country, according to a report of Metric, a local e-commerce analyzer.
Singapore-headquartered Shopee led the market with a sales revenue of VND1,458 billion ($61.75 million), or 78.4% of the total; followed by Lazada with VND362.71 billion ($15.36 million), or 19.5%.
Tiki and Sendo, two local players, recorded revenues of VND35.13 billion ($1.49 million) and VND3.85 billion ($163,600), respectively.
IBest-selling items were priced at VND100,000-500,000 ($4.25-21.25), followed by items of VND50,000-100,000 ($2.12-4.25) and VND10,000-50,000 ($0.42-2.12).
The report added that the two best-selling items were the VND379,000 ($16.11) set of kitchen toys and 60-centimeter Barbie doll priced at VND380,000 ($16.15).
Educational toys topped the list with the revenue of nearly VND450 billion ($19.12 million), followed by outdoor and exercise toys of nearly VND430 billion ($18.27 million). Other popular ones were model toys, game toys, dolls and stuffed animals.
Metric noted branded items accounted for only 7.87% of the sales revenue, while non-branded items took the major bite of 92.13%.
Lego was among the leaders of branded items with 23.7% of the sales revenues, followed by local players of Memon with 6.1%, Hoan Thanh with 5.7%, Pikaboo with 4.3%, and others. Original equipment manufacturer (OEM) items accounted for 42.4% of the market share.
According to the General Statistics Office, Vietnam's population reached 99.46 million in 2022, including 955,500 newborns, or a growth of 0.97%. The education system featured 4.9 million kids in nursery schools and 9.2 million in primary schools.