In the first quarter of 2021, Vietnam’s online retail market experienced significant growth, with Shopee maintaining its dominance and capturing more than half of the market share. This was due in part to the platform’s appeal to Vietnamese consumers, who spent a substantial amount shopping on TikTok Shop in the first three months of the year.
Following Shopee, TikTok Shop emerged as the runner-up with a market share of 23.2%, showing a significant increase from the previous quarter. The growth of online retail in Vietnam is attributed to various factors, including domestic consumption stimulation programs and the increasing adoption of online shopping as a daily habit.
The top five platforms, including Shopee, Lazada, Tiki, Sendo, and TikTok Shop, collectively saw significant revenue growth and an increase in successful product deliveries. The growth of digital services is expected to meet customer expectations for convenience and improve operational efficiency.
As businesses increasingly invest in technology and digitalization, e-commerce development is playing a crucial role in strengthening Vietnam’s digital economy. The integration of entertainment elements into the online shopping process is expected to drive market growth and increase consumer engagement.
Looking ahead, businesses are advised to focus on cost control, revenue generation, and digital transformation to thrive in the competitive digital landscape. With continued growth expected in the coming years