Vietnamese people spend 16 billion USD shopping through online platforms

The information is mentioned in the 3rd Southeast Asia E-commerce Report recently released by Momentum Works Ventures (Singapore). Compared to 2023, GMV increased by 15.9%.

Of the $16 billion that Vietnamese people spent shopping on platforms, Shopee and TikTok Shop were the two main channels, accounting for 65% and 28% of total transactions, respectively. Momentum Works noted that GMV is estimated to include all paid orders, including canceled, returned or exchanged orders.

Compared to the region, the transaction value through multi-industry e-commerce platforms in Vietnam ranks third with the Philippines, lower than Indonesia (56.5 billion USD) and Thailand (23.5 billion USD). In terms of growth rate, the Vietnamese market ranks fourth, after Thailand (21.7%), Malaysia (19.5%) and the Philippines (16.8%).

Previously, a report by e-commerce consulting firm YouNet ECI said that GMV on four platforms Shopee, Lazada, TikTok Shop and Tiki reached 13.8 billion USD, a record increase of 40% compared to 2023. A more general figure from the Ministry of Industry and Trade estimated that the size of the e-commerce market last year exceeded 25 billion USD, higher than the forecast of 22 billion USD by Google, Temasek, Bain & Company in the "e-Economy SEA 2024" report.

In 2025, spending on shopping activities on multi-industry platforms will maintain a growth trend . According to statistics from e-commerce data platform Metric, in the first quarter, more than 950 million products were sold on the above 4 platforms, reaching 101,400 billion VND, an increase of more than 42% over the same period last year.

Data from the Tax Department ( Ministry of Finance ) also shows positive signals in the entire online retail market. Accordingly, in the first 5 months of the year, organizations and individuals doing business on online platforms and digital platforms paid 74,400 billion VND in taxes, an increase of 55% over the same period last year.

In the race to consolidate market share, recently, platforms have been racing to increase user interaction through many online and offline activities. For 4 days from June 4 to 7, TikTok Shop organized a livestream at the Creative Park (Thu Duc), selling more than 37,000 orders. During the entire birthday campaign in early June, this platform sold more than 20 million orders, an increase of 46% compared to the 2024 program.

Or taking advantage of the blind bag-tearing craze, Lazada has just announced a partnership with toy brand Pop Mart to sell two limited collections and organize "unboxing" livestreams. Next month, the platform will "revive" the Lazada Run after a hiatus.

On the user experience front, Lazada has signaled its entry into the zero-cost shipping race. In early June, Shopee announced free shipping for all orders (except for very bulky orders, express delivery, and other special cases). In response, starting July 1, Lazada has a new free shipping policy for official stores (LazMall), for orders under 15 kg.

Along with the platforms' efforts to stimulate demand, to avoid tax losses and bring the market into healthy operation, new policies are starting to be implemented. From July 1, e-commerce platforms and digital platforms must deduct and pay taxes in lieu of value-added tax (VAT) and personal income tax for sellers (households, individuals doing business) on the platforms, according to Decree 117.

In parallel, the Ministry of Industry and Trade is drafting a decree regulating administrative sanctions for violations in commercial activities, production and trade of counterfeit and banned goods and protection of consumer rights to replace Decree 98. Accordingly, e-commerce platforms will be penalized if they fail to identify sellers and prevent counterfeit goods.
VN (according to VnExpress)

Source: https://baohaiduong.vn/nguoi-viet-chi-16-ty-usd-mua-sam-qua-cac-san-online-414989.html