TikTok Shop accelerates, approaching Shopee's 'throne'

In just the first 6 months of 2025, TikTok Shop increased its market share from 32.5% to 42%, significantly narrowing the gap with Shopee.

Vietnam's e-commerce market is entering a period of fiercer competition than ever, with unpredictable battles between foreign platforms - Photo: BE HIEU

According to the E-commerce Platform Revenue Report for the first half of 2025 published by YouNet ECI - an in-depth market research platform, the total transaction value (GMV) of the four major platforms including Shopee, TikTok Shop, Lazada and Tiki reached VND 222,100 billion, up 23% over the same period last year.

This growth rate far exceeded the 9.3% growth rate of the entire retail sales of consumer goods and services in the same period (data from the General Statistics Office).

Of these, TikTok Shop recorded the most impressive growth, with GMV increasing by 148%, even surpassing the 99% figure for the whole year of 2024. The platform's market share also increased from 32.5% at the end of 2024 to 42%, significantly narrowing the gap with Shopee - currently leading with 55% market share.

Not only did transactions grow, TikTok Shop also recorded a strong breakthrough in the number of sellers with revenue.

Accordingly, in the first 6 months of the year, this platform had more than 266,000 domestic sellers generating revenue, an increase of 96% over the same period and for the first time surpassing Shopee (currently has 209,000 sellers, not including international sellers).

However, Shopee still maintains its position in the mid-range and high-end segments, thanks to the trust of long-term consumers. The brands leading in revenue on Shopee in the first 6 months of the year are all in the electronics - technology group such as Apple Flagship Store, Viettel Store, ShopDunk...

Explaining the strong rise of TikTok Shop, Mr. Nguyen Phuong Lam - Director of e-commerce market research company YouNet ECI - said that this platform takes advantage of low prices, easily accessible products, suitable for the trend of saving consumption in the context of many economic challenges.

Meanwhile, Shopee is growing in a more sustainable direction, thanks to brand trust and the strong presence of big names.

"TikTok Shop shows clear advantages in youth-friendly product categories such as: fashion (up 123%), beauty (up 191%), FMCG - fast-moving consumer goods (up 167%) and household appliances (up 109%)".

Particularly for the Gen Z customer group, this platform is overwhelmingly dominant, with 54% market share in the fashion industry, 50% in the beauty industry, and 44% in food and beverage," Mr. Lam cited.

Mr. Lam also warned: "Vietnamese consumers are shopping online all year round, in many product categories and increasingly pay attention to quality. Vietnamese e-commerce no longer has room for quick-fix thinking."

"In the context of changing consumer behavior and fierce market competition, businesses need to invest systematically in brands, services and finances to retain users, instead of just relying on short-term promotions," said Mr. Lam.

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Source: https://tuoitre.vn/tiktok-shop-but-toc-ap-sat-ngoi-vuong-shopee-20250729072837968.htm