The combined revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, TIKI, and Sendo.vn, exceeded VND71 trillion ($2.79 billion), marking a 79% increase from the previous year.
A recent report by Metric indicates a significant surge in activity during the first quarter, with over 766 million items sold on these platforms, an 83% increase. Nearly 511,000 stores received orders, up 9%, while the number of sellers on e-commerce platforms rose by 9.22%.
Beauty, household goods, and women’s fashion emerged as leading sectors in terms of revenue and sales volume on e-commerce platforms. The beauty industry alone generated VND11.25 trillion in revenue, boosted by promotional campaigns compared to brick-and-mortar stores.
Particularly noteworthy is the remarkable growth in revenue and volume for household appliances, mobile devices, tablets, and men’s fashion, surpassing a growth rate of 146% and 370%, respectively.
“In addition to the ongoing economic recovery, businesses are increasingly optimistic about the prospects of the online retail market. E-commerce has become indispensable for reaching a vast customer base,” remarked Pham Bao Trung, Metric’s sales director.
The report highlights Hanoi and Ho Chi Minh City as the leaders in both revenue and volume, accounting for 70% of the total. Nevertheless, e-commerce is expanding beyond major cities and into rural areas.
Metric forecasts continued robust growth in e-commerce sales during the second quarter of this year, with revenue expected to reach approximately VND85 trillion and over 882 million items projected to be sold.
