Business

Revenue on top five e-commerce platforms jumps 79%

The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
Revenue on top five e-commerce platforms jumps 79% ảnh 1The e-commerce market of Vietnam was robust in the first quarter of this year. (Photo: VNA)
Hanoi (VNS/VNA) - The e-commerce market of Vietnam wasrobust in the first quarter of this year with total revenue of the top fiveplatforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching morethan 71 trillion VND (2.79 billion USD), an increase of 79% over the sameperiod last year, according to a recent report by Metric.

The report pointed out that more than 766 million items were soldon these platforms in the first quarter, up 83%. Nearly 511,000 stores hadorders, up 9%. The number of sellers on e-commerce platforms also rose by 9.22%.

Beauty, household and women’s fashion are among top industries interms of revenue and sales volume on e-commerce platforms.

The beauty industry earned a revenue of 11.25 trillion VND,bolstered by promotion programmes compared to offline stores.

Notably, household electrical appliances, phones – tablets andmen’s fashion saw a breakthrough in revenue with a growth rate of more than 146%,and volume by 370%.

“Besides the economic recovery, businesses are increasinglyconfident in the development of the online retail market. E-commerce will be amust if sellers want to reach a huge number of customers,” said Pham Bao Trung,sales director of Metric.

The report pointed out that Hanoi and Ho Chi Minh City took thelead in revenue and volume, accounting for 70%. However, e-commerce is nolonger the playground of sellers in major cities but is spreading tolocalities.

Metric predicted that e-commerce sales would continue to be robustin the second quarter of this year with revenue to reach around 85 trillion VNDwith more than 882 million items to be sold.

Trung said that geo-political developments were affecting thesupply chains, while with expansion of foreign sellers and policy changes ofsome e-commerce platforms would be major challenges to sellers in 2024./.
VNA
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