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).
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