Vietnam’s e-commerce sector is entering a new era. With a projected 35% CAGR from 2024 to 2028, the market is growing at breakneck speed. But as competition intensifies, four platforms are vying for the top spot: Shopee, TikTok Shop, Lazada, and Tiki.

So, who’s truly leading the charge?

Market Snapshot

Shopee continues to dominate, holding over 60% of GMV share in 2024, projecting itself as a clear heavyweight in the local e-commerce space. TikTok Shop is the rising star, recording 100% YoY growth in Q4 2024, proving video-driven shopping is far more than just hype. Lazada remains steady but is under mounting pressure from faster-moving rivals. Tiki is carving out its niche in tech and home essentials, though growth is slower compared to the big players.

What’s Driving the Growth?

1. Video Commerce & Livestreaming
TikTok Shop is leading the charge with immersive, video-first shopping experiences. Livestreams allow sellers to demonstrate products in real time, answer customer questions instantly, and create a sense of urgency through limited-time offers. This interactive format not only drives decisive purchases but also builds stronger brand-consumer trust, especially among Vietnam’s younger, mobile-first shoppers.

2. Mega Sales Campaigns
Shopee and Lazada’s mega sale campaigns—such as 9.9, 11.11, and 12.12—are more than just sales events. They have become national shopping festivals, with platforms offering gamified promotions, cashback vouchers, and flash sales. These campaigns generate record-breaking traffic, often compressing a month’s worth of transactions into a single day, and are critical for boosting merchant visibility and attracting first-time buyers.

3. Smarter Logistics
With consumers expecting faster deliveries, platforms are investing heavily in localised fulfillment centers, last-mile delivery networks, and AI-driven route optimisation. Shopee Xpress, Lazada Logistics, and Tiki are expanding same-day and next-day delivery options, particularly in urban areas like Ho Chi Minh City and Hanoi. This focus on logistics is not only reducing delivery lead times but also enhancing customer satisfaction and loyalty, a key differentiator in such a competitive market.

4. FMCG Acceleration
Fast-Moving Consumer Goods (FMCG) have become a growth engine for e-commerce in Vietnam. With rising demand for baby formula, packaged foods, beverages, and household essentials, consumers are increasingly turning to online platforms for convenience and reliability. Partnerships with major FMCG brands and the rise of subscription-based purchasing are reinforcing this trend, making e-commerce the go-to channel for everyday necessities rather than just discretionary spending.

The Big Question for 2025

Vietnam’s e-commerce market is more dynamic than ever. Shopee holds the crown, but TikTok Shop’s rapid rise signals a shifting landscape. Lazada and Tiki remain in the game, but the pressure is mounting.

As the e-commerce landscape in Vietnam continues to evolve, it will be fascinating to see which player takes the lead in 2025. Connect with us today to find out how your brand can get ahead of the curve!

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