The meteoric rise of e-commerce is not devoid of challenges, as a multitude of domestic and international contenders scramble for market supremacy. This intensifying competition necessitates that businesses continuously innovate and refine their strategies to maintain traction in an increasingly saturated environment.
Beauty and Personal Care Propel Growth
A recent analysis by the market intelligence platform Metric.vn reveals a significant uptick in online expenditures, primarily driven by major promotional events like the 8/8 and 9/9 mega sales, the Mid-Autumn Festival, and the back-to-school rush.
Revenue amassed from Vietnam’s four leading e-commerce platforms—Shopee, TikTok Shop, Lazada, and Tiki—has soared to VND103.6 trillion ($4.14 billion), with monthly sales experiencing a robust growth of 19 percent, 21 percent, and 26 percent in the months of July, August, and September, respectively.
During the third quarter, Vietnamese consumers procured nearly 989 million items, marking a greater than 10 percent increase year-on-year.
On average, expenditures reached approximately VND34 trillion ($1.36 billion) per month on major platforms, underscoring the fervent consumer engagement.
Metric.vn’s evaluation identifies beauty and personal care, home and living, and fashion as the three most rapidly expanding sectors.
Notably, the domestic cosmetics brand Cocoon distinguished itself with an impressive growth rate of 202 percent, establishing itself as one of the two leading entities within the beauty category.
Platform search analytics reveal that ‘iPhone case’ topped the list with over 10 million queries, followed by ‘women’s sandals,’ ‘shirt,’ and ‘women’s handbag’—all staple items indicative of consistent consumer demand.
The Vietnamese cosmetics brand Cocoon has recorded a revenue growth exceeding 200 percent on e-commerce platforms. Photo: Cocoon
Mall Stores Lead Revenue Generation
Mid-range products have sustained their position at the forefront of sales dynamics.
Items priced between VND100,000 to VND200,000 ($4-$8) accounted for a significant 25.7 percent of total revenues, while the VND200,000 to VND350,000 ($8-$14) category contributed 16 percent.
Conversely, products priced under VND100,000 ($4) have decreased from 26.9 percent to 24.4 percent, signaling a definitive shift towards higher-value goods.
Remarkably, the premium segment (priced above VND1 million, or $38) climbed to 14.5 percent, indicating that consumers exhibit a willingness to ‘upgrade’ their expenditures for enhanced quality, trusted brands, and superior experiences.
Data from Metric reveals an intriguing trend, as mall stores (official brand stores) comprise a mere 2.64 percent of total sellers yet have generated an impressive 35.7 percent of the collective revenue on Shopee and TikTok Shop.
TikTok Shop stands out with a notable surge in the number of mall stores, which rose by 52 percent, propelling sales upwards by nearly 115 percent year-on-year.
In contrast, Shopee Mall has adopted a more selective strategy, resulting in a 38.12 percent decline in store count due to stringent quality controls, though its overall revenue trends remain mildly positive.
Metric forecasts that by the fourth quarter of 2025, e-commerce sales in Vietnam may reach VND105 trillion ($4.2 billion) with an anticipated sale of 1,069 billion products, reflecting a 1.35 percent increase in value and an 8.14 percent rise in volume quarter-on-quarter.
This growth trajectory is likely to be driven by significant promotional events like 11/11, 12/12, the end-of-year shopping season, the flourishing of live-stream and flash sales, supplemented by substantial investments in logistics and express delivery systems.
Platforms Fortify Their Ecosystems
To cement its commanding 56 percent market share, Shopee is actively pursuing a broadening of strategic partnerships with prominent social platforms.
Since October 2024, Shopee has integrated with YouTube Shopping, incorporating over 2.4 million products directly into videos, resulting in a viewing time amplification of up to 500 percent.
Additionally, Shopee has recently collaborated with Meta to test a Facebook live-stream feature that enables viewers to purchase items directly from embedded Shopee carts, exemplifying its ambition to establish a frictionless commerce-entertainment ecosystem.
Simultaneously, TikTok Shop, which commands a 41-percent market share, is broadening its user base and seller community by offering live-stream training initiatives focused on legal compliance, taxation, and sales acumen across various locales.
Source link: News.tuoitre.vn.
