According to data from e-commerce growth consultancy YouNet ECI, the total gross merchandise value (GMV) of the four major platforms Shopee, TikTok Shop, Lazada, and Tiki reached VND 222.1 trillion in the first half of this year, up 23 per cent on-year.
TikTok Shop posted strong growth, raising its market share from 32.5 per cent to 42 per cent, with VND 93.3 trillion in sales, up 148 per cent from last year. This growth is closing in on Shopee, which remains on top with 55 per cent, despite a 6 per cent drop to VND 122.2 trillion. Together, they now make up 97 per cent of Vietnam’s e-commerce market.
Lazada and Tiki followed in third and fourth place, recording GMVs of VND 5.8 trillion and VND 837.6 billion, respectively.
The fast-moving consumer goods (FMCG) sector remained a key growth driver, surging 167 per cent on TikTok Shop and 20 per cent on Shopee.
Despite market growth, the number of revenue-generating sellers dropped by over 7,000 on-year as consumers buy more essentials online, they increasingly trust established brands and major retailers, YouNet ECI explained.
Partly due to rising platform fees and the lack of professionalism or investment from many small sellers, a significant number were forced to exit the market.
YouNet ECI’s report also highlighted that, despite a drop in revenue-generating sellers, the average revenue per active seller surged by 27.6 per cent compared to the same period last year.
