Vietnamese spend nearly $5.68 billion on online shopping

According to market analyst firm Metric, Vietnamese consumers spent VND143.9 trillion (US$5.68 billion) on 1.53 million items across five e-commerce platforms in the first half of this year, up 54.91% and 65.55% year-on-year respectively.

The report found that the figures show a robust e-commerce market in Vietnam and that sellers can take full advantage of online shopping trends.

However, Metric indicated that the growth came mainly from TikTok Shop and Shopee.

Only Tiktok Shop and Shopee registered positive growth rates of 150.54% and 65.96% in revenue during the period.

Meanwhile, Lazada, Tiki and Sendo saw negative growth in both revenue and sales volume. Lazada’s revenue fell by 43.81% and Tiki’s by 48.55%.

According to Metric, both Shopee and Tiktok Shop successfully capitalized on the livestream shopping trends, with the number of shopping malls increasing by 12.29% during the period.

Among the top 10 brands with the highest e-commerce revenue, only one Vietnamese brand was Vinamilk. This created the need for domestic brands to develop business strategies to compete in the domestic e-commerce market.

Metric predicted that demand for school supplies priced below VND50,000 ($1.98) per piece will increase in August and early September as the new school year begins.