Vietnam E-commerce
Overview
Vietnam's e-commerce market is one of the fastest-growing in Southeast Asia, fueled by rising internet penetration, smartphone adoption, and a young demographic comfortable with digital transactions. The sector has evolved from early C2C classifieds to sophisticated B2C platforms, live commerce, and integrated super-app ecosystems.
Cross-border e-commerce plays a significant role, with Vietnamese consumers actively purchasing from international platforms while local platforms expand regionally.
Key Characteristics
- Mobile-first commerce: Over 70% of e-commerce transactions occur via mobile devices
- Cash-on-delivery (COD) remains significant despite digital payment growth
- Live commerce and social selling through Facebook, Zalo, and TikTok gaining traction
- Intense price competition with heavy discounting and voucher culture
- Same-day and next-day delivery becoming standard expectations in major cities
- Cross-border purchases from China, Korea, and US platforms common
Market Structure
Platform Types
- B2C Marketplaces: Shopee, Lazada, Tiki dominating general merchandise
- C2C Platforms: Facebook Marketplace, Cho Tot for peer-to-peer transactions
- Social Commerce: Selling through Facebook Live, Zalo Official Accounts, TikTok Shop
- D2C Brands: Direct-to-consumer websites bypassing marketplaces
- Vertical Specialists: Thegioididong (electronics), FPT Shop, Bach Hoa Xanh (grocery)
Product Categories
- Electronics and mobile devices (highest transaction value)
- Fashion and apparel (high volume, frequent purchases)
- Beauty and personal care (strong cross-border demand)
- Mother and baby products (quality-focused purchasing)
- Home appliances and furniture (growing segment)
- Groceries and FMCG (emerging, logistics-intensive)
Logistics and Fulfillment
- Platform-owned logistics: SPX Express, Lazada Logistics, TikiNOW
- Third-party delivery: GHN, GHTK, J&T Express, Ninja Van
- Warehouse infrastructure concentrated in Hanoi and Ho Chi Minh City
- Cash-on-delivery handling adds complexity to reverse logistics
Major Players
E-commerce Platforms
- Shopee: Market leader, Sea Group subsidiary, strong in lower-tier cities
- Lazada: Alibaba-owned, LazMall for authentic brands, strong logistics
- Tiki: Vietnamese-owned, TikiNOW for fast delivery, book-to-general pivot
- Sendo: FPT Corporation-backed, strong in tier-2/3 cities
- Cho Tot: Carousell-owned classifieds, C2C focus
Social and Live Commerce
- Facebook: Dominant social commerce platform via pages and live streaming
- Zalo: Official Accounts for brand stores, integrated with ZaloPay
- TikTok Shop: Rapidly growing live commerce and short-video selling
Vertical Retailers
- Thegioididong / Dien May Xanh: Mobile World Investment Corporation, electronics dominance
- FPT Shop / FPT Digital: FPT Retail subsidiary, electronics and digital services
- Bach Hoa Xanh: Mobile World, grocery chain with online ordering
- WinMart+: Masan Group convenience store network
- Co.opmart / Co.opXtra: Saigon Co-op supermarket chain
Support Services
- GHN (Giao Hang Nhanh): Fast delivery service, Scommerce subsidiary
- GHTK (Giao Hang Tiet Kiem): Cost-effective delivery, widely used by sellers
- J&T Express: International player, aggressive pricing
- Ninja Van: Regional logistics provider
- KiotViet: POS and inventory management for small retailers
Why This Matters
- COD requirements impact cash flow and working capital for cross-border sellers
- Platform fees (2-5% + payment processing) affect unit economics significantly
- Social commerce requires different marketing approaches than traditional e-commerce
- Same-day delivery expectations require local warehouse or 3PL partnerships
- Price sensitivity necessitates localized pricing strategies and promotion planning
- Mobile-first UX is non-negotiable; desktop experiences are secondary
Sources
- Ministry of Industry and Trade E-commerce White Paper
- Vietnam E-commerce Association (VECOM) Industry Reports
- Google, Temasek, Bain & Company e-Conomy SEA Report
- Metric / iPrice Group Vietnam E-commerce Reports
- Shopee, Lazada, Tiki seller ecosystem publications
- Vietnam News Agency and VnExpress business coverage