Vietnam’s E-commerce Transaction Volume Reached $1.28 billion In November 2023
Jayson 10 Jan 2024 11:26
Vietnamese people's online shopping spending increased in November 2023 due to year-end shopping stimulus events, the largest of which was 11.11 on November 11
According to data from e-commerce data intelligence platform EcomHeat, in November 2023, the transaction volume of Vietnamese e-commerce platforms Shopee, Lazada, TikTok Shop and Tiki totaled VND 31.9 trillion (USD 1.28 billion)
In terms of market share, Shopee leads with 72.7%, equivalent to VND22.7 trillion, followed by TikTok Shop and Lazada with 17.2% and 9% respectively. Tiki is at the bottom with a market share of only 1.1%
In addition, among all product groups, Shopee ranks first in revenue. According to Shopee's announcement, on November 11 alone, the number of users participating in shopping increased 11 times compared with usual times. Shopee also significantly outperformed all other sites across all categories of products.
Lazada has experienced massive sales of high-value technology products such as home appliances and electronic equipment. Sales of these products totaled VND385 billion, contributing the most to Lazada's revenue in November.
At the same time, people often turn to TikTok Shop to buy low-value products such as cheap clothes, accessories, cosmetics, and food and beverages. Therefore, the average value of products sold on TikTok Shop is the lowest at only 108,000 VND, while the figure on Shopee is 116,000 VND and the figure on Lazada is 162,000 VND.
According to data from e-commerce data intelligence platform EcomHeat, in November 2023, the transaction volume of Vietnamese e-commerce platforms Shopee, Lazada, TikTok Shop and Tiki totaled VND 31.9 trillion (USD 1.28 billion)
In terms of market share, Shopee leads with 72.7%, equivalent to VND22.7 trillion, followed by TikTok Shop and Lazada with 17.2% and 9% respectively. Tiki is at the bottom with a market share of only 1.1%
In addition, among all product groups, Shopee ranks first in revenue. According to Shopee's announcement, on November 11 alone, the number of users participating in shopping increased 11 times compared with usual times. Shopee also significantly outperformed all other sites across all categories of products.
Lazada has experienced massive sales of high-value technology products such as home appliances and electronic equipment. Sales of these products totaled VND385 billion, contributing the most to Lazada's revenue in November.
At the same time, people often turn to TikTok Shop to buy low-value products such as cheap clothes, accessories, cosmetics, and food and beverages. Therefore, the average value of products sold on TikTok Shop is the lowest at only 108,000 VND, while the figure on Shopee is 116,000 VND and the figure on Lazada is 162,000 VND.
