Business

Vietnamese spend nearly 150 trillion VND on online shopping

Vietnamese consumers spent 143.9 trillion (5.68 billion USD) buying 1.53 million items on five e-commerce platforms in the first half of this year, representing a rise of 54.91% and 65.55% over the same period last year, respectively, according market analysis firm Metric.

Tiktok Shop and Shopee register growth rates of 150.54% and 65.96%t in revenue in the first six months of this year. (Photo: VNA)
Tiktok Shop and Shopee register growth rates of 150.54% and 65.96%t in revenue in the first six months of this year. (Photo: VNA)

Hanoi (VNS/VNA) - Vietnamese consumers spent 143.9 trillion VND (5.68 billion USD) buying 1.53 million items on five e-commerce platforms in the first half of this year, representing a rise of 54.91% and 65.55% over the same period last year, respectively, according market analysis firm Metric.

The figures demonstrate the robust e-commerce market of Vietnam as well as ability of sellers to take advantage of online shopping trends, the report said.

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

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

Meanwhile, Lazada, Tiki and Sendo saw negative growth in both revenue and sale volumes. The report pointed out that Lazada’s revenue fell by 43.81% and Tiki by 48.55%.

Metric said that both Shopee and Tiktok Shop successfully took advantage of livestream shopping trend, while notably, the number of shop malls increased by 12.29% in the period.

The top 10 brands with the highest e-commerce revenue included only one Vietnamese brand – Vinamilk - raising a need for domestic brands to develop business strategies to compete in the domestic e-commerce market.

Metric predicted that the demand for school supplies with prices of below 50,000 VND per item will increase in August and early September as a new school year begins./.


VNA
#e-commerce market #Shopee #Tiktok Shop #sale volumnes #livestream shopping trend #Vietnamese consumers
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