Shopee Vietnam Ranks First In Terms of 11.11 Promotion Revenue
Jayson 26 Dec 2023 09:30
A recent report by YouNet ECI pointed out that with the support of 11.11, the total transaction volume of Vietnam's four major e-commerce platforms exceeded 115 trillion VND/month, which was 1.6 times the revenue of the entire third quarter.
Among them, Shopee ranks first in market share with 78.3% revenue (equivalent to VND90.42 trillion). Across all product categories, Shopee ranks first in terms of revenue, well ahead of rival platforms.
Shopee is followed by TikTok Shop (11.1% market share) and Lazada (9.7% market share).
The market share of these two e-commerce platforms seems to be evenly divided, but from the perspective of industry groups, Lazada and TikTok Shop are heading in two different directions.
TikTok Shop has shown its strength in product categories that are easy to buy and use. TikTok Shop holds nearly 31% market share in the fashion accessories industry, bringing in revenue of VND885 billion.
Consumers also tend to purchase products in the beauty, food and beverage, and health industries on TikTok Shop.
Instead, Lazada has shown that its strength lies in industries with high product value. Lazada surpassed TikTok Shop in the tech product categories (12.6%), home appliances (10.8%), and audio equipment (19.2%).
Technology products became Lazada's top revenue category in November with revenue of VND385 billion.
However, the report shows that TikTok Shop is the lowest-ranked platform in terms of average value per product. On average, products sold on TikTok Shop cost only about 108,000 VND, compared with 116,000 VND on Shopee and 162,000 VND on Lazada.
Among them, Shopee ranks first in market share with 78.3% revenue (equivalent to VND90.42 trillion). Across all product categories, Shopee ranks first in terms of revenue, well ahead of rival platforms.
Shopee is followed by TikTok Shop (11.1% market share) and Lazada (9.7% market share).
The market share of these two e-commerce platforms seems to be evenly divided, but from the perspective of industry groups, Lazada and TikTok Shop are heading in two different directions.
TikTok Shop has shown its strength in product categories that are easy to buy and use. TikTok Shop holds nearly 31% market share in the fashion accessories industry, bringing in revenue of VND885 billion.
Consumers also tend to purchase products in the beauty, food and beverage, and health industries on TikTok Shop.
Instead, Lazada has shown that its strength lies in industries with high product value. Lazada surpassed TikTok Shop in the tech product categories (12.6%), home appliances (10.8%), and audio equipment (19.2%).
Technology products became Lazada's top revenue category in November with revenue of VND385 billion.
However, the report shows that TikTok Shop is the lowest-ranked platform in terms of average value per product. On average, products sold on TikTok Shop cost only about 108,000 VND, compared with 116,000 VND on Shopee and 162,000 VND on Lazada.
