The withdrawal wave of online retailers with the 'sell for fun' mindset

After a boom period due to the pandemic and a strong shift to online shopping, Vietnam's e-commerce market is witnessing an unprecedented wave of withdrawals from small retailers.

To survive on e-commerce platforms, sellers must invest properly and abandon the mindset of doing extra work or selling just for fun - Photo: QUANG DINH

According to the latest report from the intelligent data platform Metric.vn, in the first six months of 2025 alone, the number of shops generating orders decreased by more than 80,000 compared to the same period last year, and by more than 55,000 compared to the second half of 2024.

It can be said that the Vietnamese e-commerce market is entering an unprecedented "purification" phase. The game is no longer for those who "sell for fun" or "open shops to clear inventory," but demands long-term thinking, clear strategies, and systematic investment.

Online business is no longer for beginners.

A quick survey by Tuổi Trẻ newspaper on seller groups on Shopee, TikTok Shop, Lazada, etc., revealed that many online shop owners are struggling and even considering giving up.

Posts with content like "too much pressure, thinking of quitting," "clearing out inventory to go back to my old job," etc., are becoming increasingly common.

"Previously, selling online only required attractive products and good prices to get orders. Now, to survive, you have to operate like a truly professional business," Mr. Bui Huu Nghia, founder of the fashion brand Vicolas, which sells on e-commerce platforms, shared with Tuoi Tre newspaper .

According to Mr. Nghia, in just the first half of 2025, the total cost to process an order on Shopee increased from approximately 15% to over 20% of the product value. This fee includes platform fees, fees for participating in promotional programs, vouchers, advertising costs, shipping costs, etc.

Furthermore, sellers also face a series of obligations and associated costs such as issuing complete invoices for both incoming and outgoing goods, participating in social insurance for employees, providing documentation of product origin, and fulfilling all tax responsibilities.

"If sellers don't carefully calculate each expense, they can easily end up losing money; the more they sell, the more they lose," Mr. Nghia commented.

Along with sharply rising costs, the simultaneous tightening of operational procedures by e-commerce platforms to improve consumer experience has also made it difficult for many sellers, forcing them to adapt in order to survive.

"From maintaining consistent traffic and adhering to promotional regulations to responding promptly to customers and avoiding late deliveries or order errors... these are all essential 'survival skills' that shop owners must master," said Ms. T., a seller on a major e-commerce platform.

According to sellers, even a minor technical error such as a delayed response, incomplete delivery, or a customer complaint can lead to a loss of credibility points, reduced visibility, or even temporary suspension of the store.

"Even many technical errors don't originate from the seller but from objective factors such as slow shipping, system errors, or customers confirming delivery late, or customers making unfounded complaints; the seller still bears the losses...", another seller lamented.

Customers increasingly value brands and reliability.

Speaking with us, Mr. Nguyen Phuong Lam - director of YouNet ECI e-commerce market research company - affirmed that customers are increasingly prioritizing brand, trustworthiness, and shopping experience, rather than the low price factor as the main driving force behind their purchasing behavior as in the past.

Citing data from YouNet's latest report, Mr. Lam stated that although the number of sellers with revenue decreased, the average revenue per seller remaining on the platform increased by 27.6% compared to the same period last year.

The average value per product sold also increased slightly by 5.4%. Notably, the Mall Shop segment – ​​a well-managed and controlled system for product sourcing – recorded an impressive revenue growth of 34% compared to the same period last year.

"Online sellers must build long-term credibility, understand consumer behavior, and invest systematically in operations if they want to survive in the market," Mr. Lam emphasized.

Sharing the same view, Mr. Nguyen Viet Dung - a marketing expert and lecturer at the Foreign Trade University - believes that small sellers need to abandon the mindset of "trying it out" or "doing it as a side job" and instead approach e-commerce with a professional mindset from the outset.

This requires sellers to invest in product quality, image, service, after-sales support, and especially to clearly define their target customer segment.

"Retailers need to focus on exploiting niche segments, areas that large businesses haven't been able to fully cover, such as handicrafts, regional specialties, or trendy items. This is a promising area if you know how to operate effectively," Mr. Dung said.

Mr. Dung also advised shop owners to establish a streamlined system, utilize digital tools and artificial intelligence to reduce costs, and take control of customer data to adjust product, pricing, and advertising strategies in real time.

E-commerce still has significant room for growth.

According to the latest report from YouNet ECI, in the first six months of 2025, the total gross merchandise value (GMV) on Shopee, TikTok Shop, Lazada, and Tiki reached VND 222.1 trillion, a 23% increase compared to the same period last year – significantly higher than the 9.3% growth rate of the retail sector for goods and consumer services (data from the General Statistics Office).

YouNet ECI forecasts that Vietnam's e-commerce market will maintain a compound annual growth rate of 35% until 2028, driven by two main factors: the "shoppertainment" model and the steadily increasing basket size.

E-commerce platforms are using AI to increase interaction with shoppers.

Speaking about the recent consolidation of the e-commerce market, Mr. Tran Quoc Bao, Deputy General Director of Kido Group and CEO of the E2E e-commerce channel, said that selling on e-commerce platforms requires systematic and professional investment to be sustainable in the long run.

In 2025, E2E will continue to leverage its strengths in technology platforms and leading KOL/KOC networks to support the digital transformation process. Accordingly, E2E will begin applying AI in content production on its affiliated channels, and will be a pioneer in applying AI-powered livestreaming for sales on digital platforms.

This also significantly differentiates E2E from traditional e-commerce platforms, as it can support the creation of personalized video content sales campaigns, thereby shortening the consumer journey and increasing conversion rates.

With the support of AI, the E2E platform aims to serve multiple industries, from consumer product manufacturers to distributors, retailers, and even service organizations such as education , healthcare, and personal care.

The system can customize the approach, profile picture, livestream content, and marketing message to suit each specific business model.

In the future, the platform will also use AI to create high-quality advertising content, providing businesses with an effective advertising tool at only 20-30% of the cost of traditional methods.

Thus, E2E will become an effective marketing and sales solution through AI-powered advertising content and sales via KOLs/KOCs on various platforms.

"E2E also promotes the recruitment and training of online sales forces, who not only have a thorough understanding of the products but also the ability to accurately convey information about their features and uses, thereby forming a new workforce for the digital economy," Mr. Bao said.

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Nhat Xuan

Source: https://tuoitre.vn/lan-song-rut-lui-cua-cac-nha-ban-le-online-co-tu-duy-ban-cho-vui-20250801230519388.htm