Vietnamese spend nearly 150 trillion VND on online shopping

July 25, 2024 | 13:08

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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 per cent and 65.55 per cent over the same period last year, respectively, according market analysis firm Metric.

Vietnamese spend nearly 150 trillion VND on online shopping

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

Hanoi - 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 per cent and 65.55 per cent 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 per cent and 65.96 per cent 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 per cent and Tiki by 48.55 per cent.

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 per cent 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.

Traders move online to drive holiday profits

Online shopping on e-commerce platforms is growing rapidly and boosting revenues for businesses during the Lunar New Year.

Vietnamese consumers double online shopping frequency

Vietnamese consumers now shop online an average of four times per month, doubling the frequency compared to 2023, according to NielsenIQ Vietnam. This figure also surpasses the monthly supermarket visits of Vietnamese consumers, indicating a significant shift towards online retail.

By VNA

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