$6 billion spent in first half of 2024

E-commerce in Vietnam continues to be a bright spot in the country’s economic landscape. According to market intelligence firm Metric, the sector has seen growth of more than 54% in both sales and transaction volume compared to the same period in 2023.

The top five e-commerce platforms – Shopee, Lazada, Tiki, Sendo and TikTok Shop – recorded impressive sales results of VND143.9 trillion (USD6 billion) and 1.533 million successful deliveries. This represents a 54.91% increase in revenue and a 65.55% increase in transaction volume compared to the first half of 2023.

This growth demonstrates the dynamic development of the Vietnamese e-commerce market and how businesses are benefiting from the shift from offline to online shopping.

A noticeable trend is the growth of Shop Mall segments (official stores). In the first half of 2024, the number of Shop Malls increased by 12.29% compared to the same period last year.

Shopee sellers with large sales volumes often have warehouses located in Hanoi and Ho Chi Minh City, the country’s main economic centers with advanced logistics systems. In addition, the Red River Delta region is becoming a promising area due to its dense population and high consumer demand.

Beauty, women’s fashion and homeware continue to lead in terms of sales and volume across all five e-commerce platforms. Interestingly, budget products priced below VND200,000 remain very attractive, with their market share increasing by 3% compared to last year. This preference reflects a broader trend of budget tightening in the current economic environment, with consumers prioritizing affordable options.

In the first half of 2024, technology brands such as Apple, Samsung and Xiaomi dominated the sales rankings, underscoring strong consumer demand for technology products.

Only one local brand, Vinamilk, made it into the top 10 earning e-commerce brands in Vietnam, underscoring the intense competition on e-commerce platforms and suggesting that domestic brands need to plan more strategically to grow their presence in the market.

Back-to-school season (late August to early September) is the peak period for office supplies on e-commerce platforms, according to Metric. Sales of stationery such as pens, notebooks and various types of paper have surged as consumers prepare for the new school year. These products, typically priced below VND50,000, remain popular with Vietnamese shoppers.

Trong Dat