Shopee and TikTok Shop Capture Over 90% of Online Retail Market Share in Vietnam

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The revenue gap among multi-category online retail platforms in Vietnam is widening, with Shopee and TikTok Shop leading the market. According to a report by YouNet ECI, in Q2 2024, total spending across the four major e-commerce platforms—Shopee, TikTok Shop, Lazada, and Tiki—reached VND 87,370 billion, up 10.4% from Q1. Shopee holds 71.4% of the market share with VND 62,380 billion, while TikTok Shop is in second place with 22%.

These two platforms now account for up to 93.4% of the market share, up from 91.25% in Q1. Shopee continues to expand its market share with a higher GMV growth rate compared to TikTok Shop. Although TikTok Shop has shown remarkable growth, it remains heavily reliant on the fashion and accessories sector, impacting its platform's growth.

Looking ahead, the market is expected to continue growing due to "Mega Sales" promotions and the rise of livestreaming. However, the market will increasingly refine its focus on retailers' professionalism and data analytics capabilities. Key trends for the next 3-5 years include daily online shopping habits, purchasing high-value items, and the growth of shoppertainment.

(vnexpress.net)