| The Netherlands provides grants to Vietnam to boost exports through e-commerce; Promotions explode on e-commerce platforms on the double 11/11 day. |
Specifically, according to statistics from the market data platform Metric, in the first three quarters of 2023, the Mother and Baby product category on the five largest e-commerce platforms (Shopee, Lazada, Tiki, Sendo, TikTok) in Vietnam reached a total sales figure of VND 8,708 billion, 57% higher than the same period in 2022. Simultaneously, the number of products sold also reached 56.6 million, a 54% increase compared to the same period in 2022.
Shopee continues to lead in sales, accounting for 62% of the mother and baby product market share in the first nine months of 2023. Despite being a relatively new player, TikTok has achieved 1.5 trillion VND in sales and holds a market share comparable to Lazada, at 18%.
 |
| The volume of purchases of mother and baby products on e-commerce platforms is enormous. |
According to statistics, the infant formula and baby food sector led with 1,544.2 billion VND in revenue during the first nine months of 2023. Infant formula and baby food are currently the product group generating the most revenue for the mother and baby industry.
However, compared to the same period in 2022, new baby bedroom products showed an incredible breakthrough with growth of up to 104%.
Conversely, the three product categories related to baby safety, mother and baby products, and gift sets and packages saw less positive business performance, declining by 7%, 6%, and 33% respectively.
Following closely behind is "baby diapers and sanitary products" with 1,430.5 billion VND, an 11% increase; next is the "baby feeding supplies" group with revenue of 1,109.8 billion VND, and "baby healthcare" with 739.1 billion VND…
According to data analysts at Metric.vn, low prices continue to dominate in terms of product sales by price segment, with the 0-100,000 VND range being the most popular, accounting for 62% of the market share. This is followed by the 200-500,000 VND and 100-200,000 VND price segments.
It's easy to see that the low-price segment remains popular among customers on e-commerce platforms.
However, the price range of 200,000 to 500,000 VND is the one that generates the most revenue for this industry. Rising per capita income allows parents to spend more on baby products, especially those related to health.
Based on the average growth rate of 8% in Q4 2022 compared to Q3 2022, sales in Q4 2023 are projected to exceed 3,260 trillion VND (excluding TikTok). Among these, diapers and baby wipes are expected to continue achieving high sales and growth in Q4 2023.
According to the e-Conomy SEA 2023 report, published by Google, Temasek (an investment company), and Bain & Company (a global consulting firm), based on updated digital economy trends in six Southeast Asian countries: Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, Vietnam continues to be the fastest-growing digital economy in Southeast Asia for the second consecutive year (2022 and 2023) and is projected to maintain this position in 2025 (tied with the Philippines). Vietnam's total merchandise value is projected to achieve a compound annual growth rate (CAGR) of 20%, rising from US$30 billion in 2023 to nearly US$45 billion in 2025. This growth in total merchandise value over the next two years will be driven by e-commerce and online travel . In addition, e-commerce in Vietnam increased by 11% from 2022 to 2023 and is expected to grow by 22% by 2025, aiming for a total merchandise value of $24 billion in 2025. |
Source link
Comment (0)