As previously highlighted in our Southeast Asia eCommerce Outlook 2024This free PDF takes a broad view of eCommerce across five of Southeast Asia's most exciting markets: statisics, market structure, trends, entry strategy.Free Southeast Asia eCommerce Outlook, Vietnam is the fastest-growing eCommerce market in the Southeast Asia region at a YoY revenue growth of 29.35%, and its legislation allows for cross-border selling without the need for a legal entity in the country, making it a very attractive market for businesses to conduct online sales.
For brands looking to increase their reach in Vietnam, these are the main multi-vendor marketplaces to consider in their multichannel eCommerce strategy.
This ranking covers the largest eCommerce platforms in Vietnam based on findings from our eCommerce Marketplace Monitoring Services in Southeast Asia–and taking website traffic data from March 2024 into consideration–to give you a better understanding of the online landscape in the region. We’ll also go over some global marketplaces that although do not have a dedicated VN store, are still popular in Vietnam.
If you’re looking for an overview of the whole region, make sure to check out our ranking of 10 Largest Online Marketplaces in Southeast Asia (2024)Southeast Asian eCommerce is one of the fastest developing and changing. We look at the Top 10 online marketplaces in the region in 2024.Southeast Asia’s 10 Largest Online Marketplaces
5-biggest e-Commerce Platforms in Vietnam
1. Shopee VN
- Monthly Visits (Web): 145.7M
- Monthly App Downloads (Android): NA
Shopee is partly owned by China’s Tencent and is the largest comprehensive eCommerce platform in Vietnam and Southeast Asia. In recent years, Shopee VN has caught up with and surpassed Lazada to become the largest marketplace in the country, and now holds a 125 million monthly visits lead over Lazada.
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2. Lazada VN
- Monthly Visits (Web): 19.9M
- Monthly App Downloads (Android): NA
Supporting C2C, B2C, cross-border, and flagship brand sellers. Lazada’s highly-developed logistics capabilities–offering same-day and next-day delivery in many urban areas–are one of its biggest advantages. The company is constantly expanding its network, with new warehouses opening up new opportunities throughout the country. Lazada, like Shopee, offers products in dozens of categories.
Tip: For a continuously updated snapshot of the best-selling products, categories, and merchants selling on Lazada and Shopee, download our free Southeast Asia eCommerce Datasets that are released monthly.
3. Tiki
- Monthly Visits (Web): 6.7M
- Monthly App Downloads (Android): NA
The most successful local B2C platform in the country, Tiki web-store began life in 2010 as an online bookstore (echoing global giant Amazon’s humble beginnings). Now it is second only to Singaporean regional player Shopee in terms of monthly traffic. But the company’s successes aren’t limited to its homeland – in 2018, Tiki received investment from JD.com (backed by Chinese behemoth Tencent) to the tune of US $44 million and launched a China-exclusive cross-border eCommerce service called Tiki Global.
Like Shopee, Tiki also targeted consumer hesitancy towards eCommerce, with a particular focus on customer service, successfully boasting the highest customer satisfaction rate of any eCommerce platform in the country, and a glowing reputation among Vietnamese consumers as a whole. Tiki reinforced this by taking control of its entire end-to-end supply chain, leveraging its home-field advantage against challenges from overseas marketplaces.
4. Chiaki
- Monthly Visits (Web): 2.4M
- Monthly App Downloads (Android): NA
Founded in 2014 and specializing in the online sales of functional food and health supplement products, Chiaki is another successful local eCommerce player that offers many Korean, Japanese, and American cosmetics, collagen, as well as other personal care goods, household items, and more.
5. Sendo
- Monthly Visits (Web): 766.7K
- Monthly App Downloads (Android): NA
Sendo is a multi-vendor marketplace that operates both B2C and C2C models. It was founded in 2012 and focuses on broad, with about two-thirds of its orders being placed outside of Vietnam’s biggest cities, Hanoi and Ho Chi Minh City. Sendo’s eCommerce offering covers more than 10 million products across 31 categories, with more than 200,000 vendors.
Other Popular Global eCommerce Platforms in Vietnam
In addition to the aforementioned marketplaces, there are other platforms that operate globally and should also be closely followed.
1. Websosanh
- Monthly Visits (Web): 1.4M
- Monthly App Downloads (Android): NA
Although technically not a marketplace but a price comparison eCommerce platform, Websosanh launched in Vietnam in 2012 and uses an in-house developed web crawler to collect and process over 3 million products on 20,000 websites to help consumers compare product prices and find where are they sold the close-by and at the lowest price. In addition, Websosanh.vn also enables users to compare various services like credit cards, personal loans, and cell phone plans.
2. TikTok Shop
- Monthly Visits (Web): NA
- Monthly App Downloads (Android): NA
A newcomer in the online retail scene with notably high sales of Beauty & Personal Care products, China’s TikTok has exhibited astounding growth thanks to the platform’s already huge social media user base and its algorithm capabilities to recommend products that match users’ interests and needs. Having launched merely in 2021, by 2023’s end TikTok Shop is quickly catching up with a 60% YoY growth and close to half the GMV of Lazada in the Southeast Asia region. Earlier this year, Douyin acquired a 75% stake in Indonesia’s eCommerce leader Tokopedia, signaling the company’s strong push within the region.
Want to get started with TikTok Shop or any of the region’s top eCommerce platforms? TMO specializes in Marketplace Store Setup Services in Southeast Asia.
3. Amazon Global
- Monthly Visits (Web): 3.9M
- Monthly App Downloads (Android): NA
While Amazon does not have a dedicated website in any Southeast Asia country other than Singapore, it is still available and, to an extent, popular in Vietnam. Amazon’s biggest competitive advantage is that some international products are more readily available than in other marketplaces. Its downside, however, is that users often have to rely on third-party delivery services to get the goods, and the speed and reliability of such deliveries can hardly compare with that of local marketplaces.
4. Alibaba.com
- Monthly Visits (Web): 1.4M
- Monthly App Downloads (Android): NA
One marketplace that could not be missing from any eCommerce platform ranking is Alibaba Group’s B2B wholesale giant for businesses searching for suppliers. The Group, which also owns the B2C platform Lazada, has an incredibly robust logistics network and enables not only Chinese, but international retailers, wholesalers, and manufacturers looking to sell their products online in Vietnam as well.
5. SHEIN VN
- Monthly Visits (Web): 333.4K
- Monthly App Downloads (Android): NA
The Chinese-Singaporean online retailing giant SHEIN is also very popular in the Southeast Asian region since it announced plans for launching a global integrated marketplace in 2023. Despite already having localized websites for numerous countries including Vietnam, it currently has only rolled out its marketplace model for Global Sellers from the United States, Brazil, and Mexico, with more countries to follow in the short term.
If you want to know about the eCommerce landscape in Vietnam, make sure to check out our eCommerce Market Localization Guides available in Free Starter and Paid Premium Versions and based on our 20+ years of experience in eCommerce market entry strategies.
Entering Vietnam’s Online Market
Vietnam, along with the rest of the countries in Southeast Asia, is home to some of the biggest mobile and social media users on the planet, and the country’s explosive economic growth in recent days has translated into huge opportunities for the eCommerce industry.
However, entering this market is no easy task. Knowing what is the population, economic, and eCommerce market size; which product categories are suitable for selling on these platforms; what are the requirements for foreign direct investment and foreign legal entities in the region; and what should be considered regarding local tariffs, product certification, and logistics; are some of the essential considerations needed for a successful Southeast Asia market strategy.
If you are looking for an eCommerce agency to assist you in your Southeast Asia business expansion, or want to explore other alternatives to grow in the region, reach out to us to learn more about our Consultancy & Strategy Services services, from branded eCommerce website development to social commerce and other Cross-border eCommerce Solutions.
