Tiktok Shop overtakes Lazada, becomes Vietnam’s second biggest e-commerce platform
Tiktok Shop surpassed Lazada to become the second biggest e-commerce platform in Vietnam in the second quarter of 2023, after Shopee, according to local e-commerce analyst Metric.vn.
The market share of Tiktok Shop, a new player that entered the market in April 2022, rose from 15.5% in Q1/2023 to 20% in Q2/2023, while that of Lazada fell from 19.1% to 16%. Shopee retained its leading position with a market share of 63.1%.
Meanwhile, the market share of two Vietnamese platforms, Tiki and Sendo, halved from 2.2% to 1%.
Overall, the e-commerce sector’s total revenue grew 46% year-on-year to VND92.75 trillion ($3.92 billion) in the first half of 2023. In the period, 394,425 shops sold 907 million products, not including gifts and fake orders.

Tiktok Shop has surpassed Lazada to become the second-biggest e-commerce platform in Vietnam. Photo courtesy of autoshopee.com
Shopee’s revenue in the period was VND59 trillion ($2.5 billion), with 667 million products sold from 254,000 shops. In second place, Tiktok Shop earned revenues of VND16.3 trillion ($689.4 million) with 117 million products sold by 108,000 shops. Lazada followed with VND15.7 trillion ($664 million) in revenue as 117.5 million items were sold by 111,000 shops.
As warehouse locations, the highest revenue of VND26.93 trillion ($1.14 billion), or 45% of the total, was earned by Hanoi; followed by Ho Chi Minh City with VND20.34 trillion ($860.4 million), or 34%; overseas sites with VND4.11 trillion ($173.8 million), or 7%; and the northern province of Bac Ninh with VND1.67 trillion ($70.5 million), or 3%.
Brand-wise, the largest revenue were earned by Apple, Samsung, La Roche-Posay, Xiaomi and toddler product Fatz Baby.
Brands that sold the highest number of items were Deli, Focallure, Baseus, Banobagi and Xiaomi.
Beauty leads
The beauty segment was the revenue topper with VND16.5 trillion ($697.8 million), up 61% year-on-year, with 144 million items sold from 106,500 shops.
Shopee took the lion’s share with 63%, followed by Tiktok shop with 23% and Lazada with 13%.
The biggest market of sub-category products in the beauty segment were for face care, make-up, beauty tools and accessories and perfume.
The brands with highest revenues were La Roche-Posay with VND322 billion ($13.62 million), L’oreal Paris with VND205 billion ($8.67 million), Anessa with VND136 billion ($5.75 million), Cocoon with VND133 billion ($5.62 million), Focallure with VND92 billion ($3.89 million), and Innisfree with VND87 billion ($3.68 million).
Home-lifestyle
The home-lifestyle segment recorded a 49% growth in revenue in the first half to reach VND10.8 trillion ($456.8 million). While the segment stood third in revenue earned, it sold the highest number of items at 149 million.
Shopee again took the lead with a 66% market share, followed by Lazada with 23% and Tiktok Shop with 9%.
The sub-segments with the highest revenues were interior, equipment & utilities, kitchenware and cleaning equipment. The top brands were Lock & Lock with VND102 billion ($4.31 million), Hapo with VND76 billion ($3.21 million), Omo with VND64 billion ($2.71 million), Pehouse with VND58 billion ($2.45 million), and Makita with VND50 billion ($2.11 million).
Electrical & appliance
The electrical & appliance segment ranked fourth in revenue at VND5.6 trillion ($236.8 million), up 21.1% year-on-year. Shopee topped the segment with 59% of the market share, followed by Lazada with 31% and Tiktok Shop with 6%. In the first half of this year, 18 million products were sold from 47,800 shops.
The sub-segments with highest revenues were kitchen appliances, small and large electrical appliances, and television & accessories. The top brand was Samsung with revenues of VND177 billion ($7.49 million), Xiaomi with VND150 billion ($6.34 million), Ecovacs with VND101 billion ($4.27 million), Philips with VND98 billion ($4.14 million), and Bear with VND95 billion ($4 million).
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