Vietnam’s top e-commerce site earns $12.6 bln in 2024, up 37%
Top e-commerce sites in Vietnam, namely Shopee, TikTok Shop, Lazada, Tiki, and Sendo, earned a total revenue of VND318.9 trillion ($12.62 billion) in 2024, up 37.4% year-on-year, according to local e-commerce analyzer Metric.
The number of sold items grew 50.76% year-on-year to 3.42 billion. The two figures showed that the e-commerce market is growing fast with high demand, Metric highlighted.
E-commerce couriers in Ho Chi Minh City. Photo courtesy of Thanh Nien (Young People) newspaper.
However, the number of sellers decreased 20.25% year-on-year to 650,000. The trend indicated that the competition is fiercer, and only competent businesses can continue on the market, while weak ones had to leave, according to Metric.
Additionally, Shop Mall (verified sellers) recorded increases of 69.8% and 181.3% in sales on Shopee and TikTok Shop, reflecting the trend that buyers would prefer trusted sellers, data showed.
Regarding brands, Apple was the leading one with the highest revenue of VND5,428 billion ($215 million) in 2024, up 38.1% year-on-year. Other electronics giants, namely Samsung, Xiaomi, and Oppo, were in the second, third, and fourth ranks.
Vinamilk was the only domestic brand in the top 10 brands, with VND650.6 billion ($25.8 million), up 49.1% year-on-year.
Other top ones included dairy products Ensure, cosmetics L’Oreal Paris and La Roche-Posay, mother & baby care products Huggies, and household items Philips.
The market share of e-commerce in Vietnam in 2023 and 2024. Photo courtesy of Metric.vn
About market share, Tencent-affiliated Shopee accounted for the biggest portion of 64%, followed by TikTok Shop with 29% and Alibaba-affiliated Lazada with 6%. Tiki and Sendo, two domestic ones, accounted for the remaining 1%.
For 2025, Metric anticipated that the e-commerce market would continue growing, with revenue going up 21.5% to VND387.5 trillion ($15.3 billion).
- Related News
- Read More
Elon Musk company okayed to pilot Starlink satellite internet service in Vietnam
Vietnam has allowed the U.S.'s SpaceX to pilot Starlink low-orbit satellite internet service in the country on a pilot basis until January 1, 2031.
Industries - Wed, March 26, 2025 | 5:18 pm GMT+7
Danish toymaker Lego to open $1.3 bln Vietnam plant next month
Denmark's Lego will officially open its factory in VSIP III Industrial Park in Vietnam's southern province of Binh Duong on April 9.
Industries - Wed, March 26, 2025 | 4:18 pm GMT+7
Top Singaporean firms earn high incomes in Vietnam
Singapore is the second-biggest foreign investor in Vietnam, with over $84 billion in registered investment capital as of end-January and many prominent investors raking in high incomes.
Companies - Wed, March 26, 2025 | 3:45 pm GMT+7
Vietnam, Singapore ink significant deals in Hanoi
Vietnamese Prime Minister Pham Minh Chinh and his Singaporean counterpart Lawrence Wong on Wednesday witnessed the signing of many cooperation deals between agencies and enterprises of the two countries.
Economy - Wed, March 26, 2025 | 2:51 pm GMT+7
Vietnam's major policies are reshaping economic development
Major policies are reshaping Vietnam's approach to economic development, which focuses on science, technology, and private enterprises, said a leader at the Vietnam Chamber of Commerce and Industry (VCCI).
Economy - Wed, March 26, 2025 | 12:11 pm GMT+7
PM okays over $10 bln urban area project in central Vietnam
The over VND260.3 trillion ($10.16 billion) Cam Lam New Urban Area project in the south-central province of Khanh Hoa has received in-principle approval from Prime Minister Pham Minh Chinh.
Real Estate - Wed, March 26, 2025 | 8:58 am GMT+7
S Korea's KIM Fund raises stake in Vietnam's marine transportation firm VIPCO
South Korea’s KIM Fund has increased its stake in Hai Phong city-based Vietnam Petroleum Transport JSC (VIPCO, HoSE: VIP) to 2.73%, making it the latter’s second-largest shareholder.
Companies - Wed, March 26, 2025 | 8:30 am GMT+7
Vietnam, Singapore seek cooperation chances in semiconductor industry
The Vietnam Trade Office in Singapore, in collaboration with the Singapore Semiconductor Industry Association (SSIA), organized a hybrid seminar on Monday to introduce Vietnam's potential, advantages, and development strategies for the semiconductor industry.
Southeast Asia - Tue, March 25, 2025 | 10:55 pm GMT+7
OV intellectuals in UK suggest blueprint for Vietnam’s int’l financial hub ambition
Vietnam can rise as a major international financial centre, both regionally and globally, with a strategic vision that highlights transparency, a skilled workforce, modern infrastructure, robust financial markets, and strong international branding, the Vietnam Intellectual Society in the UK and Ireland (VIS) told visiting Vietnamese Permanent Deputy Prime Minister Nguyen Hoa Binh in a recent meeting.
Southeast Asia - Tue, March 25, 2025 | 10:55 pm GMT+7
Vietnam Deputy PM discusses financial center development with ECB
Vietnam's Standing Deputy Prime Minister Nguyen Hoa Binh on Monday met with representatives of the European Central Bank (ECB) to discuss plans for the establishment of financial centers in Vietnam, as part of his working visit to Germany – the final stop in his European tour.
Southeast Asia - Tue, March 25, 2025 | 10:52 pm GMT+7
Indonesia keeps commitment on energy transition
Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto on Monday affirmed that the U.S. decision to pull out of the Just Energy Transition Partnership (JETP) will not impact the other partners' commitment to it.
Southeast Asia - Tue, March 25, 2025 | 10:35 pm GMT+7
Malaysia’s electric vehicle sales surge
Malaysia’s automotive industry is gaining momentum, with electric vehicle (EV) sales soaring over the past two years and continuing to rise in 2025, driven by both domestic and international manufacturers.
Southeast Asia - Tue, March 25, 2025 | 10:23 pm GMT+7
Japan turns to Vietnam, Indonesia to tackle truck driver shortage
Logistics and transportation companies in Japan have begun recruiting foreign nationals as drivers now that their industries qualify for a special employment visa amid a severe labor shortage.
Southeast Asia - Tue, March 25, 2025 | 10:19 pm GMT+7
Malaysia expected to achieve economic growth of 4.5-5.5% in 2025
The Malaysian economy is projected to expand between 4.5% and 5.5% in 2025, underpinned by resilient domestic demand and ongoing investment activity, despite external uncertainties, according to the country’s central bank Bank Negara Malaysia (BNM).
Southeast Asia - Tue, March 25, 2025 | 10:10 pm GMT+7
Singapore’s core inflation falls in Feb
Singapore’s core inflation declined for the fifth straight month in February after falling sharply in January as most spending categories saw smaller year-on-year price increases.
Southeast Asia - Tue, March 25, 2025 | 10:01 pm GMT+7
China’s apparel giant 'unwinds' Texhong Industrial Park expansion in Vietnam
China-headquartered Texhong, among the largest core cotton textile suppliers in the world, will “unwind” the expansion of its Texhong Industrial Park (Texhong Hai Ha Industrial Park) in the northern Vietnam province of Quang Ninh, the firm said on Monday.
Industrial real estate - Tue, March 25, 2025 | 9:28 pm GMT+7
