Vietnam. eCommerce sales estimates (May 2024)

Get ready to uncover the latest insights into Vietnam's eCommerce market with TMO group's "Vietnam eCommerce sales estimates". This data pack contains data on SKUs, sales volumes, and revenue for major product groups sold on Lazada and Shopee in Vietnam. Be the first to know the sales trends for May 2024 and stay ahead of the competition.

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            [0] => The Vietnam eCommerce market has experienced strong growth in recent years, making it one of the most attractive cross-border markets in Southeast Asia. According to statistics on eCommerce and the digital economy, Vietnam's B2C eCommerce revenue surged from approximately $8 billion in 2018 to $20.5 billion in 2023. A report by the eCommerce data platform Metric also highlighted that Vietnam's top five eCommerce platforms (including Shopee, Lazada, Tiki, Sendo, and TikTok Shop) sold about 2.2 billion products, reflecting a 52.3% increase compared to 2022.

In May 2024, the total sales revenue of the Shopee and Lazada in Vietnam reached approximately $1.49 billion, with a year-on-year growth of 35%. Electronics & Accessories, Health & Beauty, as well as Apparel & Fashion were the most popular categories. The following analysis will provide insights into the sales data for the month in Vietnam.
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            [0] => Platform Performance: Shopee is the most popular eCommerce platform in Vietnam, generating approximately $1.47 billion in May, ranking first among six Southeast Asian countries. Lazada's sales revenue reached about $19.11 million. Stay tuned to TMO as we continue to monitor the trends in Vietnam's eCommerce market throughout the year.

In terms of categories, on the Shopee platform, Electronics & Accessories dominated the market with a market share of 47.1%, followed by Apparel & Fashion with market share of 20.0%. On the Lazada platform, the most popular categories were Health & Beauty and Groceries & Pets. These two categories accounted for nearly 50% of the market share.

With regards to best-selling products:
  • In the Electronics & Accessorie category on Shopee, Bluetooth earphones, Bluetooth speakers, and chargers were the most popular items. Vietnamese consumers showed a high acceptance of slightly higher-priced electronic products and accessories, with products priced over $50 generating more than $10 million in sales revenue. This indicates substantial growth potential in Vietnam's high-end electronics market.
  • In Lazada's Health & Beauty category, medical supplies and men's care gained significant popularity. Chinese brand Flyco demonstrated very good sales performance, with four Flyco products making it into the best-selling product list, including smart electronic thermometers, neck massage machine, and electric beard shavers.
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This data pack contains data on SKUs, sales volumes, and revenue for major product groups sold on Lazada and Shopee in Thailand. 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According to the "Thailand - Country Commercial Guide" released by the U.S. Department of Commerce International Trade Administration in January 2024, Thailand has approximately 43.5 million e-commerce users, with 17-36 year-olds being the main force, accounting for 62% of Thailand's e-commerce market. The influx of more young users has played a significant role in driving e-commerce sales in Thailand. In addition, affluent Thai online shoppers have strong brand awareness, and as this group continues to grow, it is bound to inject new vitality and business opportunities into the Thai e-commerce market. The cross-border e-commerce market in Thailand is vibrant. According to the "Thailand - Country Commercial Guide," cross-border e-commerce accounts for 30% of the entire Thai e-commerce market, and nearly half of online shoppers have experience shopping on cross-border e-commerce platforms. In February 2024, the total sales revenue of the two main platforms Shopee and Lazada in Thailand reached approximately 762 million. ) [_download_description_0_content] => Array ( [0] => field_5b399a6b21e4d ) [download_description_1_title] => Array ( [0] => ) [_download_description_1_title] => Array ( [0] => ) [download_description_1_content] => Array ( [0] => ) [_download_description_1_content] => Array ( [0] => ) [download_description_2_title] => Array ( [0] => Highlight ) [_download_description_2_title] => Array ( [0] => field_5b399a5d21e4c ) [download_description_2_content] => Array ( [0] => Platform Performance: Shopee's sales are higher than Lazada's. In February 2024, Shopee's sales in the Thai market were 650 million, ranking fourth among the six Southeast Asian countries. Lazada's sales revenue reached 110 million, also ranking fourth among the six countries. Keep an eye on TMO as we continue to observe the trends in the entire Thai e-commerce market this year. In terms of categories, on the Shopee platform, electronic products and accessories occupy the top spot with a market share of 31.5%, followed by clothing and fashion, and health and beauty, with market shares of 15.4% and 14.3% respectively. On the Lazada platform, the most popular category among consumers is home and living, accounting for 19.1% of sales, followed by health and beauty (14.9%) and women's fashion and accessories (11.0%). With regards to best-selling products:
  • In the electronic products and accessories category on the Shopee platform, smartphones are still the most popular electronic products. Thai consumers have a high brand preference, with Apple smartphones occupying three out of the top five spots in the sales rankings. It is worth noting that the sales revenue of home appliances accounted for around 40% market share, which was almost the same as that of electronic products and accessories. Chinese brands TCL and Hisense have entered the top five in the sales rankings. In the health and beauty category, weight management products are the best-selling products.
  • In the health and beauty products category on the Lazada platform, perfumes have gained great popularity.
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We provide numbers such as total SKUs with sales, number of sales, revenue (both in local currency and USD), and distribution of sales by the price range of items. Where relevant, we show internal categories of product groups. 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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. 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Starting 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 2024 is as follows: Indonesia (January), Thailand (February), Malaysia (March), Vietnam (April), Indonesia (May), Singapore (June), The Philippines (July), Vietnam (August), Thailand (September), The Philippines(October), Singapore (November), and Malaysia (December).

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!

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From preliminary eCommerce scans that inform your market entry strategy, to monthly data checks, and long-term monitoring, we offer custom data collection and analysis to help identify your industry's market structure, pricing, top competitors, trends, and more. 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What Will You Find...

The Vietnam eCommerce market has experienced strong growth in recent years, making it one of the most attractive cross-border markets in Southeast Asia. According to statistics on eCommerce and the digital economy, Vietnam's B2C eCommerce revenue surged from approximately $8 billion in 2018 to $20.5 billion in 2023. A report by the eCommerce data platform Metric also highlighted that Vietnam's top five eCommerce platforms (including Shopee, Lazada, Tiki, Sendo, and TikTok Shop) sold about 2.2 billion products, reflecting a 52.3% increase compared to 2022.

In May 2024, the total sales revenue of the Shopee and Lazada in Vietnam reached approximately $1.49 billion, with a year-on-year growth of 35%. Electronics & Accessories, Health & Beauty, as well as Apparel & Fashion were the most popular categories. The following analysis will provide insights into the sales data for the month in Vietnam.

Highlights

Platform Performance: Shopee is the most popular eCommerce platform in Vietnam, generating approximately $1.47 billion in May, ranking first among six Southeast Asian countries. Lazada's sales revenue reached about $19.11 million. Stay tuned to TMO as we continue to monitor the trends in Vietnam's eCommerce market throughout the year.

In terms of categories, on the Shopee platform, Electronics & Accessories dominated the market with a market share of 47.1%, followed by Apparel & Fashion with market share of 20.0%. On the Lazada platform, the most popular categories were Health & Beauty and Groceries & Pets. These two categories accounted for nearly 50% of the market share.

With regards to best-selling products:

  • In the Electronics & Accessorie category on Shopee, Bluetooth earphones, Bluetooth speakers, and chargers were the most popular items. Vietnamese consumers showed a high acceptance of slightly higher-priced electronic products and accessories, with products priced over $50 generating more than $10 million in sales revenue. This indicates substantial growth potential in Vietnam's high-end electronics market.
  • In Lazada's Health & Beauty category, medical supplies and men's care gained significant popularity. Chinese brand Flyco demonstrated very good sales performance, with four Flyco products making it into the best-selling product list, including smart electronic thermometers, neck massage machine, and electric beard shavers.

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I need specific data about my industry, do you offer customized reports?

Yes! From preliminary eCommerce scans that inform your market entry strategy, to monthly data checks, and long-term monitoring, we offer custom data collection and analysis to help identify your industry's market structure, pricing, top competitors, trends, and more. To learn more, navigate to our "Data Service" page in the main menu or contact us to discuss your data needs.
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