This goal not only reflects TikTok's high priority for the Vietnamese market, but also highlights its strong confidence in deeply exploring the e-commerce field.
Looking back on 2023, TikTok's performance in the Vietnamese market can be described as running wild and blossoming in full bloom. According to Nguyen Lam Thanh, as of the end of November last year, more than 2.8 million Vietnamese small and medium-sized enterprises had chosen to settle in TikTok Shop, and the platform ecosystem is increasingly prosperous.
In terms of specific sales performance, Vietnam's TikTok Shop Mall achieved impressive results in the first week of its launch, with the store's highest single-week sales exceeding 76,000 pieces.
In addition, in the battle for market share, TikTok Vietnam successfully surpassed e-commerce giant Lazada in the first half of 2023 and became the second largest e-commerce platform in Vietnam. Since then, the platform has maintained rapid growth, competing with Vietnam's e-commerce leader The gap between Shopee is getting smaller and smaller, which shows how strong its competitiveness is.
In view of this, it is natural for TikTok to set a sales revenue target of 200 trillion VND for 2024.
