On January 9, it was reported that Vietnam became a dark horse at the end of last year.
According to a report by Younet ECI, a data company, in November 2023, Shopee, Lazada, TikTok Shop, etcThe 4 e-commerce platforms generated a total of VND 31,915 billion in transaction value (gmvRevenue increased by 9 from October3%。At the same time, that means more than 405,000** sellers sold more than 26.1 billion products. Previously, Vietnam was ranked by eMarketer as one of the top 5 fastest-growing countries in the global e-commerce sector with an impressive annual growth rate of 20%.
Caption: The total transaction volume of Shopee, Lazada, TikTok Shop and Tiki exceeded VND 31,915 billion in November Source: Cafefvn
Among them, Shopee leads the way with an overwhelming market share.
In November 2023, Shopee won with 727% (equivalent to 22.)VND 674 trillion) monopolizes VietnamHighest revenue market share. Shopee is followed by TikTok Shop (with a market share of 17.)2%) and Lazada (9% market share).
Caption: The market share of the four major platforms in Vietnam in November Source: Younet ECI
According to the analysis of the report, which,The top 10 product categories with the highest total revenue from e-commerce platforms are:
Fashion accessories (4 floors with a total revenue of VND 8,142 billion).
Beauty (VND 4,689 billion).
Housing - Living (VND 3,779 billion).
Technology (VND 3,058 billion).
Household appliances (2.)VND 83 trillion).
Maternal and child industry (VND 1,517 billion).
Food & Beverage (VND 1,477 billion).
Health products industry (VND 1,439 billion).
Audio equipment (VND 790 billion).
Sports and tourism (VND 776 billion).
According to Younet ECI analysis, e-commerce will still dominate Vietnam's economic revenue in 2024, and sellers can make their own business strategies based on the above-mentioned best-selling product categories.
However, the same business strategy does not apply to every platform.
For example, according to the analyst firm, with the exception of Shopee, which occupies the first place in terms of GMV in all industries, TikTok Shop is suitable for trading low-value, inexpensive products such as fashion accessories, beauty, food and beverages, and health. The reason for this is because the average value of each product traded on TikTok Shop is more than 11VND 40,000.
Caption: Lazada and Tiki have an advantage in trading ** value items Source: Cafefvn
At the same time, Lazada and Tiki have the advantage of trading **value items. On Lazada, the average value of each order is close to VND 162,000 (while Shopee is more than VND 115,000), so on the Lazada platform, the 5 **value products of technology, fashion-accessories, beauty, home, life and household appliances are the categories in which sellers can earn rich profits.
As for tiki, with an average order value of VND 381,000, consumers are more inclined to browse and buy technology, mother and baby products, service vouchers, home appliances, books and magazines on tiki.
The YouNet ECI report advises: "Based on the strengths of each platform, brands need to consider investing and choosing the right channel for the products they want to sell." ”
It is worth mentioningRecently, according to Vietnam**, cross-border goods have poured into Vietnam, becoming the main force in Vietnam's e-commerce market. Among them, Chinese goods have a competitive advantage in cross-border goods with rich categories, cheapness, fast delivery, and transportation costs, and may further dominate the Vietnamese e-commerce market in the future.
Shopee and Lazada are the most popular cross-border goods sales platforms in Vietnam, and both marketplaces have parent companies in China, according to an e-commerce expert. Currently, both platforms place orders on a daily basis25%-30% are cross-border goods, equivalent toAbout 1-1.2 million products per day, most of which are cheap goods.
Vietnamese e-commerce platforms do not have policies to support cross-border goods, but China** supports the export of goods through e-commerce channels. In addition, due to the high volume and concentration of orders, local transport companies in Vietnam offer cheap shipping for cross-border goods**. Chinese goods can arrive in major cities in Vietnam within 2-3 days. This is the biggest reason why Chinese goods occupy the Vietnamese market. An analyst said.
Ms. Truong Phuong Thoa, Director of the Southern Regional E-Commerce Service Center, said that Vietnamese manufacturers should focus on their own areas of strength, China has advantages in electronics and fine fashion products, and Vietnam has advantages in popular clothing, local food, natural cosmetics, etc. Vietnamese SMEs need to better explore foreign markets and learn how to sell goods on foreign e-commerce platforms.
At the same time, as the Spring Festival approaches, the sales of Spring Festival decorations are also showing an upward trend. According to metricReport published by VN, between November 25 and December 24, 2023The total revenue of Tet decorations on e-commerce platforms such as Shopee, Lazada, Tiki and Sendo reached VND 9.2 billion (37.2 billion$90,000), sold for 4270,000 orders. The data shows that revenue in this category increased by 56% compared to the same period last year.
It is expected that during the 2024 Tet period, the Tet decorations market will earn VND64.7 billion (266.5 billion) through e-commerce platformsUS$50,000), of which about 2.7 million products are sold on e-commerce platforms. The report also pointed out that during the Tet last year, the total revenue of these four e-commerce platforms reached VND41.5 billion (170.0 billion$90,000), an increase of 82% year-on-year.