E-commerce market share

E-commerce in Vietnam has seen tremendous growth in recent years. With increasing internet and smartphone penetration, more Vietnamese consumers are turning to online shopping for convenience and variety.

The top 3 online shopping sites - Lazada, Shopee, and Tik Tok Shop - dominate the Vietnamese e-commerce landscape, but they each have unique strengths and weaknesses. This blog post will provide an in-depth comparison of these major players to help you decide which are the best Vietnam online shopping sites to start selling in Vietnam.

Overview of Vietnam's e-commerce market

Vietnam has one of the fastest-growing e-commerce markets in Southeast Asia. According to recent statistics:

• The e-commerce market is projected to reach US$23 billion by 2025, with an annual growth rate of 18%.

• There are around 50 million online shoppers in Vietnam. Over 60% of the population has shopped online.

• Top product categories purchased online include fashion, cosmetics, baby products, home appliances and electronics.

• Mobile commerce accounted for 45% of Vietnam's e-commerce in 2021. Most shopping is done on apps and mobile sites.

• Social commerce is rising in popularity, with Facebook and Instagram emerging as important online sales channels.

To have a general overview, take a look at the revenues of the top 5 biggest ecommerce sites in the first half of 2023 (data from Metric).

It can be clearly seen from the chart that e-commerce is a big business in Vietnam with more than 92,000 billion VND (~$3,700 million), in only the first 6 months. But with several major players, how do you choose? Let's take a detailed look at the top 3 biggest online shopping sites.