Vietnam's e-com sales up 38% YoY in Jan-Sept 2024

29 Oct '24

1 min read

Vietnam's e-com sales up 38% YoY in Jan-Sept 2024

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Insights

Vietnam's e-commerce sales were worth $9.5 billion in the first three quarters this year—up by 38 per cent YoY, Metric said.
Fashion, male footwear, beauty care and groceries were among the best-selling categories on five major platforms.
Shopee, Tiktok Shop and Tiki saw a significant quarter-on-quarter and YoY expansion in revenues in Q3 2024, while Lazada and Sendo saw declining revenues.

Vietnam's e-commerce sales were estimated at VND 227.7 trillion ($9.5 billion) in the first three quarters this year—up by 38 per cent year on year (YoY), according to e-commerce data platform Metric.

Fashion, male footwear, beauty care and groceries and were among the best-selling categories on five major platforms in the country—Shopee, TikTok Shop, Lazada, Tiki and Sendo.

In the third quarter (Q3) this year, e-commerce firms racked up sales worth VND 84.75 trillion ($3.3 billion), accounting for 37 per cent of total sales in the first nine months, and representing a YoY rise of 18.15 per cent.

The number of online shops was 580,300 in the period—down by 1 per cent YoY, a Vietnamese media outlet reported.

Shopee, Tiktok Shop and Tiki witnessed a significant quarter-on-quarter (QoQ) and YoY expansion in revenues in Q3 2024, while Lazada and Sendo experienced declining revenues.

Cross-border retail sales of Vietnam grew by an average of 20 per cent per year, and are expected to reach VND 256.1 trillion by 2026, figures from Amazon showed.

Fibre2Fashion News Desk (DS)

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