Over 80,000 online shops in Vietnam record no orders in H1

Vietnam’s e-commerce landscape is undergoing a more intense shakeout, with over 80,000 online shops recording no orders in the first half of 2025.

The market is increasingly focusing on large-scale sellers capable of maintaining stable order volumes, as smaller players struggle to compete.

Shopee leads in market share, TikTok Shop tops in growth

According to an H1/2025 online retail platform market report by intelligent data platform metric.vn, Vietnam’s total e-commerce market revenue (analyzed across four platforms: Shopee, Lazada, Tiki, and TikTok Shop) reached VND202.3 trillion ($7.74 million) in the first six months of 2025, up nearly 42% year-on-year. Total sales volume reached 1.923 billion products, up 25.44%.

The report also indicated a significant shift in market share structure, reflecting a growing consumer preference for platforms that integrate entertainment and shopping.

TikTok Shop led in growth with a 69% surge in revenue compared to the same period last year, boosting its market share from 29% to 39%, underscoring the strong momentum of the “shoppertainment” model.

Meanwhile, Shopee maintained its market-leading position with 58% market share, despite modest growth of 16% and a decline from 63% in the same period last year, signaling increasing competitive pressure.

In contrast, Lazada and Tiki continued to face challenges, with sales dropping 48% and 63%, respectively. Their market shares also further declined, highlighting a clear shift in consumer behavior and signaling a need for these platforms to rethink their strategies, particularly by investing in content-driven and interactive shopping experiences.

Increasingly fierce market shakeout

In H1/2025, the number of online shops generating orders dropped sharply compared to both the same period and the end of 2024. Specifically, there were over 80,000 fewer active shops than in the first half of 2024, and more than 55,000 fewer than in the last half of 2024.

According to Metric, this trend reflects a more intense shakeout in the e-commerce landscape, as the market increasingly concentrates on large-scale sellers capable of maintaining steady order flows.

Metric’s report also showed that official brand stores (Mall shops) are becoming increasingly dominant in consumer preferences and are now a key driver of revenue growth across e-commerce platforms.

“Although they account for only 3.4% of total shops, Mall shops contribute up to 28.7% of total revenue on Shopee and TikTok Shop. Consumers are prioritizing authentic stores to ensure product quality and service reliability,” Metric noted.

Another trend highlighted by Metric is the continued expansion of the mid-range price segment, while the premium segment shows a slight decline.

In H1, the VND100,000-200,000 ($7.65) price segment led both in revenue and volume, with its revenue share rising significantly from 24.2% to 26.3%.

The VND200,000-350,000 segment also saw a slight increase from 15.7% to 16.5%. Conversely, the over VND1 million ($38.25) segment experienced a decline in market share from 16.3% to 15.1%.

“This sign indicates that consumers continue to prioritize reasonably priced products, while the high-end segment - though maintaining stable revenue - is showing signs of weakened purchasing power. It reflects more cautious spending behavior, focusing on affordable essentials, especially in categories like fashion, home goods, and mother & baby,” Metric said.

Vietnam’s total gross merchandise value (GMV) on four major e-commerce platforms - Shopee, Lazada, TikTok Shop, and Tiki - reached $16 billion in 2024, a 15.9% increase compared to 2023, Singapore-based venture capital firm Momentum Works said in a new report.

Shopee and TikTok Shop dominated the market, accounting for 65% and 28% of total GMV, respectively, it added.