The total Gross Merchandise Volume (GMV) in 2025 across the four major e-commerce platforms—Shopee, TikTok Shop, Lazada, and Tiki—reached approximately VND429.7 trillion ($16.4 billion), marking a 34.75% increase over 2024.
On average, Vietnamese consumers spent nearly VND36 trillion (over $1.37 billion) per month on online shopping, according to the latest data from Metric.
In tandem with the revenue surge, transaction volume also recorded a 15.23% increase, with 3,941.6 million products sold across these four major platforms. However, a notable development occurred in the seller landscape: the number of active storefronts dropped by 7.43%, falling from roughly 650,000 in 2024 to 601,800. This indicates that nearly 48,000 shops have exited the market.
Analysts suggested that this paradox of “rising revenue vs. dwindling shop numbers” signals that Vietnam’s e-commerce market is entering a distinct phase of restructuring and rigorous screening, driven by two primary factors:
First, mounting cost pressures, fierce competition, and increasingly high consumer expectations have made it impossible for many small-scale and amateur vendors to survive. Second, market share is gradually consolidating around a group of professional sellers who possess sophisticated operational capabilities and invest heavily in product quality, customer service, and branding.
This is viewed as an inevitable transition, bringing Vietnam’s e-commerce sector closer to a stage of professional and sustainable development.
Furthermore, the significant gap between the growth rates of revenue (34.75%) and transaction volume (15.23%) reflects a new consumer trend: buyers are willing to spend more on higher-value products rather than simply focusing on quantity. This shift compels businesses and individual sellers to pivot their strategies from merely expanding scale to enhancing quality, optimizing product portfolios, and improving the overall shopping experience and after-sales service.
The competitive landscape among e-commerce platforms in 2025 witnessed significant shifts. According to the report by Metric, Shopee maintained its market leadership with a 56.04% revenue market share, though this reflects a notable decline from its 64% share in 2024.
Meanwhile, TikTok Shop remained the market's primary standout. Its market share surged from 29% in 2024 to 41.31% in 2025, demonstrating the powerful appeal of the “shoppertainment” (shopping combined with entertainment) model.
The remaining platforms collectively accounted for only about 3% of the market share. This underscores the immense challenges smaller players face in competing at scale and maintaining consumer interest against the two dominant giants.
The report also highlighted that Ho Chi Minh City and Hanoi continue to serve as the nation’s primary consumption hubs.
Google translate