Vietnamese e-commerce platform revenues fall in third quarter
Vietnamese e-commerce platforms’ revenues fell significantly in the third quarter of this year, while foreign platforms saw considerable expansion, according to a recent report by e-commerce data company Metric.
Revenues of TiktokShop increase by 110.6% in the third quarter. (Photo: AFP/VNA)
Hanoi (VNS/VNA) - Vietnamese e-commerce platforms’ revenues fell significantly in the third quarter of this year, while foreign platforms saw considerable expansion, according to a recent report by e-commerce data company Metric.
TiktokShop and Shopee revenues increased by 110.6% and 11.3% in the quarter, respectively.
In comparison, Lazada revenues dropped by 70.5%, Tiki by 32.1% and Sendo by 65.3%.
Meanwhile, statistics from the Vietnam E-commerce and Digital Economy Agency under the Ministry of Industry and Trade showed that Shopee was the top favourite e-commerce platform for Vietnamese consumers in 2023 (81% of Internet users), followed by Lazada (42%), Tiktok (34%) and Sendo (8%).
This demonstrated that the shares of e-commmerce platforms are changing rapidly.
According to Mordor Intelligence, Vietnam is one of 10 countries with the highest e-commerce growth rates in the world, ranking first in Southeast Asia with more than 10% growth annually.
Dao Cam Thuy from the Vietnam National University, Hanoi said that the Vietnamese market is full of potential for e-commerce platforms. The market will witness increasingly fiercer competition while foreign platforms penetrate and expand in Vietnam to capitalise on a market with a population of 100 million.
ಌ E-commerce revenue is expected to reach more than 27 billion USD this year, up from 20.5 billion USD in 2023. Revenues are predicted to hit 35 billion USD in the next few years./.
Vietnam’s e-commerce market is estimated at 22 billion USD this year, ranking third in Southeast Asia behind Indonesia (65 billion USD) and Thailand (26 billion USD).
In the era of globalisation, e-commerce is rapidly becoming a popular shopping channel in Vietnam. However, the strong presence of international e-commerce giants, particularly from China, poses significant challenges for Vietnamese enterprises.
Ho Chi Minh City’s Department of Industry and Trade has announced that it plans to inspect businesses selling on online platforms which show signs of violating regulations.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
