Vietnam's e-commerce market share: Is Shopee's "throne" under threat?

TikTokShop increased its market share from 32.5% at the end of 2024 to 42% in the first 6 months of 2025, significantly narrowing the gap with Shopee - the platform still holds the leading position with 55% of the e-commerce market share.

YouNet ECI's E-commerce Platform Revenue Report for the first half of 2025 shows that the market grew 23% year-on-year and the average revenue of e-commerce shops increased by 27.6%.

TikTokShop explodes

According to data from the Report, the total transaction value (GMV) of the four platforms Shopee, TikTok Shop, Lazada, and Tiki reached VND 222.1 trillion in the first 6 months of 2025.

The 23% growth rate far exceeded the general growth rate of the retail sales of consumer goods and services in the same period (9.3% growth according to data from the General Statistics Office).

TikTok Shop alone in the first half of 2025 recorded a growth in total transaction value (GMV) of up to 148% over the same period, higher than the 99% growth of TikTok Shop itself in the whole of 2024.

The platform also increased its market share from 32.5% (end of 2024) to 42%, significantly narrowing the gap with Shopee - the platform still holds the leading position with 55% market share.

Shopee's 'throne' is increasingly shaken because in the recent report "Online retail market in Q1/2025 and forecast for Q2/2025" by the Metric.vn data analysis platform, Shopee's market share is still 62%, TikTok Shop only accounts for 35%. This reflects the increasing competitive pressure.

Mr. Nguyen Phuong Lam - Director of Market Analysis at YouNet ECI commented: "This growth rate in the context of not being the peak season for e-commerce shows that consumers' online shopping behavior is increasingly stable. In particular, essential product categories such as Health (up 18.5%), Food and Beverage (up 57.4%), Mother and Baby (up 35.1%) all recorded strong growth, showing that e-commerce is a long-term consumption channel and the main growth driver of Vietnam's retail industry in the near future."

Fast-moving consumer goods (FMCG) continues to be the growth engine for e-commerce with a growth of 167% on TikTok Shop and 20% on Shopee. This is a trend that continues from 2024 when FMCG grows +62% of the entire e-commerce industry compared to 2023.

Although the market is growing, the number of sellers with revenue has decreased by more than 7,000 sellers compared to the same period. Explaining this phenomenon, Mr. Nguyen Phuong Lam said: "As consumers buy more and more essential products on e-commerce, they put more trust in reputable brands and large retailers. Along with the pressure of increased floor fees in the first 6 months of the year, it is obvious that many small retailers who are not professional or have not really invested will be forced to leave the game. Therefore, the decrease in the number of sellers does not reflect the general situation of the industry. On the contrary, the Mall Shop group's revenue increased by 34% compared to the same period."

The report shows that although the number of sellers with revenue decreased, the average revenue of each seller still doing business on the floor increased by 27.6%, at the same time, the average value of each product sold on the floor also increased slightly by 5.4% compared to the same period.

TikTok Shop surpasses Shopee in number of sellers for the first time

Not only GMV growth, the number of sellers with revenue on TikTok Shop in the first half of 2025 increased sharply by 96% over the same period, reaching more than 266,000 and surpassing Shopee for the first time (Shopee has more than 209,000 sellers, excluding international sellers).

TikTok Shop has strong growth in many product categories: Fashion (up 123%), Beauty (up 191%), FMCG (up 167%), Household appliances (up 109%).

Currently, this platform is selling well and has a high market share in the categories familiar to Gen Z such as: Fashion: 54%, Beauty: 50%, Food and Beverage: 44%. Meanwhile, Shopee still maintains a market share of more than 60% in many other categories.

According to YouNet ECI, TikTok Shop has grown strongly thanks to products in the low-cost, accessible segment (economy, mainstream). Meanwhile, Shopee has maintained stability in the upper mainstream and premium segments (mid-high and high-end product groups), demonstrating high trust from long-term consumers.

The report also shows that the Top 10 sellers with outstanding high revenue on Shopee, Apple Flagship Store, Viettel Store or ShopDunk all ranked at the top thanks to their high-end phone and electronic product lines.

Giving advice to businesses operating on e-commerce in the new context (increasing floor fees, more and more large enterprises landing on the floor), Mr. Nguyen Phuong Lam emphasized: "Vietnamese consumers are shopping online all year round, in many product categories, and increasingly pay attention to quality. Businesses need to see e-commerce as a strategic consumption channel, not just a place to 'sell off goods at the end of the year'. Serious investment in brand building, service quality and financial preparation for the long term is the only way to compete. Vietnamese e-commerce no longer has room for short-term thinking."

According to the "Vietnam E-commerce Intelligence 2025" report released by YouNet ECI and YouNet Media, Vietnam's e-commerce is forecast to grow at a compound annual growth rate of 35% by 2028, with two main pillars: Shoppertainment and Basket Size Expansion./.

(Vietnam+)

Source: https://www.vietnamplus.vn/thi-phan-thuong-mai-dien-tu-viet-nam-ngoi-vuong-cua-shopee-dang-bi-de-doa-post1052224.vnp