Total revenue from Vietnam’s four major e-commerce platforms—Shopee, TikTok Shop, Lazada, and Tiki—is estimated to reach VND429.66 trillion (nearly $16.5 billion) in 2025, a 34.75% increase compared to 2024, according to the latest data from e-commerce analytics platform Metric.vn.
The fourth quarter of 2025 alone is expected to record VND123.73 trillion ($4.7 billion) in revenue, up 35.74% year-on-year and 19.43% over the previous quarter, making it the primary driver of the year’s overall growth.
Total sales volume for 2025 is projected to reach nearly 3.94 billion items, a 15.23% increase. However, the number of active shops generating revenue is expected to decline to 601,800, representing a 7.43% decrease.
In Q4 2025 specifically, over 20,700 shops that recorded sales in the first nine months are projected to generate zero revenue, signaling an intensifying market consolidation and filtering process.
Shopee continues to hold a dominant position with a 56.04% market share in 2025, despite showing signs of slowing growth. Meanwhile, TikTok Shop has emerged as a powerhouse, expanding its market share to 41.31%. Lazada continues to maintain a stable market presence.
The trend toward "Mall-ification" (official branded stores) is becoming increasingly prominent. Despite accounting for only 2.12% of the total number of sellers on Shopee and TikTok Shop, official "Mall" stores contribute a staggering 32.6% of total revenue.
Notably, TikTok Shop’s Mall segment saw a massive 99.14% surge in revenue despite only a 1.14% increase in the number of official stores. Shopee maintained a more balanced growth trajectory, with its Mall store count rising by 11.81% and revenue increasing by 63.54%.
Beauty, Home & Living, and Women's Fashion remain the largest sectors by revenue. However, the "bright spots" in terms of growth rate include Health (+46.89%), Kids' Fashion (+80.46%), and Stationery (+54.76%), all of which recorded exceptional year-on-year performance.
In the first quarter of 2026, Vietnam’s e-commerce revenue is forecasted by the data platform Metric.vn to reach approximately VND134.6 trillion (over $5 billion). Total sales volume is estimated at 1.036 billion items, representing a year-on-year increase of 32.74% in value and 9% in volume compared to the same period in 2025
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