Việt Nam’s E-Commerce Market Transitions to a More Structured Era
HANOI – After a decade characterized by rapid growth driven by subsidies and significant price reductions, Việt Nam’s e-commerce landscape is now shifting towards a more regulated phase, as platforms increase fees and regulatory bodies impose stricter oversight.
In the wake of substantial gains in user engagement, product diversity, and transaction volumes, leading e-commerce platforms are gradually departing from the cash-intensive strategies that previously dominated their competitive approaches.
Experts in the field suggest that the emphasis is now pivoting towards profitability, operational efficiency, and long-term viability.
This transformation became particularly pronounced in 2025, when major platforms began to impose stricter operational guidelines for sellers and revamped incentives for consumers.
Previously aggressive initiatives, such as free shipping and discount vouchers, are progressively being incorporated into fixed or paid frameworks, effectively shifting a larger portion of associated costs onto merchants.
“The most significant alteration is not in technological advancements or consumer behavior, but rather in fee structures,” remarked Trần Lâm, an e-commerce expert and founder of local brands Julyhouse and Macaland.
“The increases in fees are implemented incrementally and continuously. While each individual hike may appear minimal, collectively they exert considerable pressure on sellers.”
Sellers are now contending with additional levies, including infrastructure charges and expenses related to returned items, while tighter timelines for compliance offer little room for adaptation. Consequently, smaller businesses with limited profit margins are finding it increasingly challenging to remain competitive.
Concurrently, enhanced tax enforcement and more stringent quality control measures on e-commerce platforms are intensifying the competitive landscape, with non-compliant vendors being systematically excluded as the market evolves into a more transparent and competitive arena.
Figures from the Department of Taxation indicate that e-commerce tax collections soared by 80 percent year-on-year, reaching VNĐ208.8 trillion in 2025. The agency has pledged to maintain its vigilance in tax collection from online commerce.
Regulators are also amplifying their efforts to purify the online marketplace by targeting subpar goods and illicit sellers.
According to the Vietnam E-Commerce and Digital Economy Agency, over 13,700 non-compliant shops were expelled from e-commerce platforms in 2025 for distributing counterfeit, prohibited, or untraceable products.
A recent report by the market research platform Metric.vn revealed that by the end of 2025, there were 601,800 shops active across the four principal platforms—Shopee, TikTok Shop, Lazada, and Tiki—a decline of 7.4 percent year-on-year, equating to nearly 48,000 stores.
Despite the reduction in storefronts, the four dominant e-commerce platforms collectively achieved revenue of VNĐ429 trillion (approximately US$16.5 billion) in 2025, reflecting an impressive growth rate of nearly 34.8 percent from the previous year. This surge indicates a trend where weaker sellers are filtered out of the market.
Selective Growth
Analysts at Metric contend that Việt Nam’s e-commerce market is entering a more mature stage, where growth is transitioning from sheer user acquisition to a focus on quality.
The rate of new user growth has diminished markedly compared to the period from 2018 to 2021; however, this does not imply a downturn but rather heralds a new phase centered on value.
Key indicators such as the average unit price per monthly sold item, conversion rates, and the revenue share from official stores have all seen increases.
Vietnamese consumers are increasingly discerning, prioritizing quality, provenance, and the overall shopping experience over merely seeking the lowest prices.
Data reflects a rise in revenue from official stores—from 25 percent in Q1 2024 to nearly 32 percent in Q1 2025—despite mall shops representing only 2.8 percent of total shops on major e-commerce platforms.
Shopee and TikTok Shop recorded mall revenue shares of 33.95 percent and 31.52 percent, respectively, while LazMall accounted for 59.7 percent of Lazada’s revenue.
This trend signifies a profound transformation in the shopping behavior of Vietnamese consumers, with a growing willingness to invest in products with verified quality and origin.
The forthcoming Law on E-Commerce, set to take effect on July 1, 2026, aims to further reshape Việt Nam’s e-commerce market by fostering transparency and sustainable development.
Lê Thị Hà from the Vietnam E-Commerce and Digital Economy Agency noted that the new law is pivotal in fortifying the legal framework for online commerce, safeguarding consumer rights, and combating fraudulent practices.
One of its most consequential stipulations mandates the identification of sellers operating on e-commerce platforms, a measure anticipated to enhance transparency, safety, and sustainability within Việt Nam’s digital marketplace.
Nguyễn Đăng Sinh, president of the Vietnam Association for Anti-Counterfeiting and Trademark Protection, stated that the requirement for sellers and livestreamers to authenticate their identities would serve as a formidable tool against counterfeit goods and infringements upon intellectual property rights.
This regulation is not intended to impede online commerce but rather to bolster digital trust, enhance consumer protection, and support sustainable growth in e-commerce.
A Challenging Landscape Ahead
According to Lâm, the e-commerce landscape is unlikely to become more accommodating in the near future.
“The e-commerce market is poised to remain challenging for the next one to two years, characterized by significant and unpredictable transformations,” Lâm commented, asserting that ongoing market adjustments will pose increasing difficulties for weaker sellers.
Nevertheless, these developments are essential for establishing a robust and transparent market, wherein competitive sellers are better equipped to diversify their operations beyond platforms into individual websites, social media, and even brick-and-mortar outlets.
“Challenges are tangible. Yet, this period also presents an opportunity to consolidate foundations and pursue more sustainable growth,” he added.
According to an overview report on Việt Nam’s domestic market for 2025 by the Ministry of Industry and Trade, the e-commerce sector experienced an impressive double-digit growth rate of 20 percent.
The online retail market was estimated at $32 billion, representing approximately 12 percent of total retail sales in goods and consumer services, positioning Việt Nam among the top three e-commerce markets in Southeast Asia.
By 2030, e-commerce is projected to grow at an annual rate of around 20 percent, with retail e-commerce revenue potentially reaching $70 billion, placing Việt Nam third in the Southeast Asian e-commerce hierarchy, trailing only Thailand and Indonesia.
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