Blog > Marketing > Sales On Vietnam’s Five Major Sites Still Increased By 53.4% While Over 105,000 Sellers Exited
Sales On Vietnam’s Five Major Sites Still Increased By 53.4% While Over 105,000 Sellers Exited
Jayson 18 Jan 2024 09:14
According to the 2023 Online Retail Market Overview Report released by Metric (e-commerce data platform), sales of Vietnam's five major e-commerce platforms (Shopee, Lazada, Tiki, Sendo, TikTok Shop) will increase by 53.4% year-on-year in 2023, which is the highest level in the past three years. Strongest growth.
Specifically, sales will reach VND233.2 trillion (approximately $9.5 billion) in 2023, with 2.2 billion products sold.
However, last year, the number of sellers on e-commerce platforms continued to decline compared with 2022.
Data shows that by 2023, more than 105,000 sellers on the Shopee, Lazada, Tiki, and Sendo platforms will choose to close due to increasingly fierce competition.
At the same time, more than 95,000 new sellers appeared on the TikTok Shop platform, rebalancing the market for online retail platforms in 2023.
Metric predicts that e-commerce platform sales will continue to grow significantly at a rate of 35% by 2024, reaching approximately VND310 trillion.
Specifically, sales will reach VND233.2 trillion (approximately $9.5 billion) in 2023, with 2.2 billion products sold.
However, last year, the number of sellers on e-commerce platforms continued to decline compared with 2022.
Data shows that by 2023, more than 105,000 sellers on the Shopee, Lazada, Tiki, and Sendo platforms will choose to close due to increasingly fierce competition.
At the same time, more than 95,000 new sellers appeared on the TikTok Shop platform, rebalancing the market for online retail platforms in 2023.
Metric predicts that e-commerce platform sales will continue to grow significantly at a rate of 35% by 2024, reaching approximately VND310 trillion.
