Penetration rates of e-commerce channels among consumers Vietnam Q2 2024
According to a recent survey conducted by Decision Lab in the second quarter of 2024, Shopee had the highest penetration rate among all online shopping platforms in Vietnam, as stated by 79 percent of the respondents. Meanwhile, social commerce channels such as Facebook and TikTok had a penetration rate of over 30 percent each among internet users during the surveyed period.
Where do Vietnamese consumers shop online?
Due to a busy and fast-paced lifestyle, more and more Vietnamese consumers are opting for online shopping as a convenient alternative to traditional brick-and-mortar stores. By offering a wide range of products, a user-friendly interface, and attractive promotions, e-commerce platforms like Shopee and Lazada have become popular choices among Vietnamese consumers. As a result, the multinational e-commerce platform Shopee dominated the e-commerce market in Vietnam, capturing more than 60 percent of the total market share. However, TikTok Shop is rapidly gaining momentum with its unique ‘shoppertainment’ experience. As of the first half of 2023, TikTok Shop has surpassed Lazada in terms of revenue performance and has impressively secured a 20 percent market share in Vietnam’s e-commerce landscape.
Vietnam’s leading domestic B2C sites
Despite the dominance of international giants, domestic B2C businesses still maintain their position within the e-commerce sector. One of the most prominent local players is The Gioi Di Dong, a member of Mobile World Investment Corporation (MWG), specializing in consumer electronics devices, such as smartphones, tablets, laptops, and components. The firm has emerged as the most visited domestic B2C e-commerce site in Vietnam, with more than 54 million monthly web visits as of the first quarter of 2022. MWG, the parent company, achieved a remarkable net revenue of over 118 trillion Vietnamese dong in 2023. MWG’s subsidiary chains, including the consumer electronics retail Dien May Xanh, the grocery chain Bach Hoa Xanh, and the pharmacy chain An Khang, have been enjoying immense popularity among the Vietnamese population.
