Vietnam. eCommerce Sales Estimates (August 2023)

Vietnam Market

Vietnam is a Southeast Asian country  with a large group of young people. Data released by Data Reportal in January 2023 shows that young people aged 18-44 account for about 41% of the total population in Vietnam. The large group of young consumers has provided a solid foundation for the development of Vietnam’s e-commerce market and has also created a broad market space for emerging business models such as short videos and live streaming e-commerce, giving the Vietnamese e-commerce market its unique charm.

In August 2023, Shopee and Lazada’s sales in Vietnam were nearly US$1.3 billion. European and American brands are highly accepted in Vietnam. Vietnamese consumers are highly price sensitive, prefer cost-effective products, and are enthusiastic about emerging electronic devices.

The following are the highlights of Vietnam’s e-commerce market in August 2023.

Market Highlights:

• Shopee’s sales in Vietnam are nearly 5 times that of Lazada. In August 2023, Shopee generated 1.04 billion US dollars in sales in Vietnam, while Lazada’s sales in Vietnam during the same period were only 219 million US dollars.
• There are significant differences in the bestselling categories between Shopee and Lazada in the Vietnam market. On the Shopee platform, “Electronics and Accessories” contributed the highest sales with 320 million US dollars, accounting for 29.9% of the total sales. The majority of sales in this category are in the price range of 1,000-2,000 US dollars. The next best selling categories on Shopee are “Home & Furniture”, “Apparel & Fashion”, with sales accounting for 21.6% and 18.8% respectively.  On the Lazada platform, the most popular category is “Health and Beauty”, with sales reaching 51.55 million US dollars, accounting for 23.5% of total sales. The majority of sales in this category are in the price range of 10-20 US dollars. The next best selling categories on Lazada are “Supermarket Groceries” and “Mother, Baby & Toys”, with sales accounting for 18.6% and 13.8% respectively.
• Looking at the bestselling products, the Vietnamese brand HAMACHI’s electric motorcycle dominates in the “Auto” category, while Abbott’s formula milk, Apple’s iPhone and Macbook also perform well in the Vietnam market. Breaking it down by platform and category, in the “Electronics and Accessories” category on Shopee, smartphones and projectors have outstanding sales performance. In the “Health and Beauty” category on Lazada, local Vietnamese products have relatively weak competitiveness, with personal care products from European and American brands selling better. In addition, with the rise of social media, short videos, and live streaming, smartphone professional photography mounts and drone cameras are also selling well on the Lazada platform in Vietnam

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What is in this datapack

In the data pack we provide our estimates of the Shopee and Lazada sales in August 2023 (separate file for each platform) for Vietnam market, broken down by product categories.

We provide such numbers as total SKUs with sales, number of sales, revenue (both in local currency and in USD), distribution of sales by the price range of items. Where relevant, we show internal categories of product groups.

We list top 5 products (by revenue) in each category, their price, sales volume, name and picture.

Notification of Update

Starting from February 2023, TMO no longer releases monthly South East Asia eCommerce sales estimates of the six Southeast Asian countries. Instead, we will refer to Shopee and Lazada’s marketing calendars to collect and publish sales estimates for the selected country each month. To enhance readers’ understanding of the top products, we will also translate the parts containing local languages into English.

The country plan for 2023 is as follows: Thailand for February issue, Malaysia for March issue, Vietnam for April issue, Indonesia for May issue, Singapore for June issue, the Philippines for July issue, Vietnam for August issue, Thailand for September issue, Malaysia for October issue, Singapore for November issue, and the Philippines for December issue.

At the same time, we will delve into various industries, continuously releasing industry outlooks to meet readers’ needs for focused attention on specific industries. In December 2022, TMO already published the first issue of Southeast Asia Cosmetics and Makeup Market Outlook. Furthermore, TMO will be introducing additional industry outlooks to furnish readers with comprehensive insights into segmented market trends, enabling them to make informed business decisions. Stay tuned!

If you are looking to dive deeper into Southeast Asia’s eCommerce market, look no further than our expert team! With our thorough research and analysis, you’ll gain a deep understanding of your niche, including market structure, size, and emerging trends. We’ll also provide invaluable insights on price ranges, top-selling items, and popular brands to help you stay ahead of the competition.

Get in touch today to learn more about how we can help you unlock the full potential of Southeast Asia’s eCommerce market!