Comprehensive report

Online Retail
Market 2023
Forecast 2024

*Statistical data from 01/01/2023 – 12/31/2023

FULL VERSION
2 | Comprehensive report on the Vietnamese Online Retail market in 2023

Foreword
With an estimated growth rate of 9.6%, the total revenue from retail of goods and services in 2023 has exceeded
the industry's planned target (target growth rate of 8% - 9%). Notably, E-commerce continues to shine, positively
impacting the digital economy, especially in domestic distribution and consumption. According to data from the E-
commerce and Digital Economy Bureau, E-commerce has grown by 25%, ranking among the world's top
performers.

However, businesses faced challenges throughout the year 2023. While experts consider the development of E-
commerce to be rapid, numerous barriers still exist. Firstly, the competition on E-commerce platforms is fierce,
with hundreds of businesses selling the same product, turning the market into “red ocean”. Secondly, the
prevalence of counterfeit and low-quality products directly affects the credibility of genuine brands and the entire
E-commerce economy. The consumers’ mentality of using E-commerce platforms for cheap and less important
items persists. Lastly, uneven development among provinces hinder many local businesses from accessing E-
commerce platforms systematically and accurately.

Entering the year 2024, as the market share on E-commerce platforms is shaped by prominent brands, businesses
need a more strategic and systematic approach to this platform. Within this context, prioritizing optimal business
models and adopting technologies like AI or Big Data,… will be one of the most popular solution to this business
challenge.

The comprehensive report on the Online Retail market in 2023 and the forecast for 2024, conducted
independently by Metric, relies on public data and is not influenced by third-party entities. The report excludes
two types of products: service packages and gifts with abnormal volumes which are not commensurate with
consumers’ feedback and ghost orders.

This objective market insights will serve as a foundation for businesses and sellers to conduct deeper analyses
and timely adjust your business and marketing strategies for the year 2024.
3 | Comprehensive report on the Vietnamese Online Retail market in 2023

Content
04 Overview of the Online Retail market
Highlight numbers
A snapshot of the period 2021 - 2023

07 Analysis of the Online Retail market in 2023 18 Detail analysis on key

Highlight numbers in 2023 The Beauty
Statistics by sectors and price segments The Grocery, Food & Beverage
Market share by brands and Sellers The Home Appliance
Market share by shop types and regions
Statistics by buyer reviews 43 Forecast of the Online Retail market in
2024
Market size growth
Online Shopping Trends
I. Overview of the Online Retail Market
Statistical data from 01/01/2021 – 12/31/2023
5 | Overview of the Online Retail market in Vietnam over the years

Revenue of top 5 Vietnamese E-commerce platforms (Billion VND) Provinces with

revenue on the top 5
online retail
platforms of over 50
498,868 billion VND/year.

399,094
Provinces with
333,390 revenue on the top 5
online retail
platforms of over 50
trillion VND/year.

232,134 B2C E-commerce revenue

151,301
113,418 Revenue on 5 E-commerce platforms
(Shopee, Lazada, Tiki, Sendo, Tiktok Shop)
2021 2022 2023

Number of products having sales on top Number of shops having successful orders
5 E-commerce platforms (Million on top 5 E-commerce platforms (Thousand
products) shops)

2,269
646 637

506
1,490

1,091

2021 2022 2023 2021 2022 2023

*Revenue of B2C E-commerce in Vietnam includes revenue from all goods and services sold through E-commerce channels
(excluding transactions related to the financial, banking, credit, insurance, and online gaming sectors) – White Paper on E-commerce 2023 (Ministry of Industry and Trade).
6 | Overview of the Online Retail market in Vietnam over the years

A snapshot of the period 2021 - 2023

Vietnam E-commerce revenue growth in the period 2021 - 2023
The market share, in terms of revenue, of the top 5 53.4%
platforms, including Shopee, Lazada, Tiki, TikTok
Shop, and Sendo, has increased from 31.4% in 46.5%
37.9%
2021 to 46.5% in 2023, as a proportion of the total 34.0%
31.4%
revenue in the B2C E-commerce platform market.
33.4%
Compared to the overall growth of the B2C E- 25.7%
commerce platform market, the revenue growth 25.0%
rate of the top 5 E-commerce platforms has been 19.7%
16.1%
higher and faster, particularly from 2022 to 2023.
This indicates a significant shift in the shopping
habits of Vietnamese consumers, aligning with 2020 2021 2022 2023
global trends.
B2C e-commerce growth
In 2023, the robust development of new shopping
formats, particularly livestreams and short videos, Growth of 5 e-commerce platforms
bringing substantial revenue to professional E-
Revenue market share of 5 e-commerce platforms compared to the entire B2C
commerce sellers. e-commerce market

Livestream is the game of emotions, that addresses all customer concerns when shopping online. It enables customers to visually
inspect products and receive direct and prompt consultation from sellers, with discount codes continuously released during specific
times, making buyers to "finalize orders" faster.

More than 105 thousand sellers on the 4 platforms including Shopee, Lazada, Tiki, Sendo have left the market due to
increasingly fierce competition. TikTok Shop has seen over 95 thousand new sellers joining, contributing to the increased vibrancy of
the online retail activities on various E-commerce platforms in 2023.
*Revenue of B2C E-commerce in Vietnam includes revenue from all goods and services sold through E-commerce channels
(excluding transactions related to the financial, banking, credit, insurance, and online gaming sectors) – White Paper on E-commerce 2023 (Ministry of Industry and Trade).
II. Analysis of the Online Retail market in 2023
Statistical data from 01/01/2023 – 12/31/2023
8 | Analysis of the Online Retail market in 2023 | Highlight numbers

• Statistical data from

233.2 thousand VND billion 637,273 shop 01/01/2023 – 12/31/2023.

Total revenue on top 5 E-commerce • This report analyzes the

Total number of shops
platforms data on the top 5 E-
having transactions on the top 5 E-
commerce platforms:
commerce platforms
Shopee, Lazada, Tiki,
Increase by 53.4% over the year 2022
Sendo, and TikTok Shop.
Decrease by 1.3% over the year 2022

• The data was filtered to

exclude ghost orders and
gift items.

2.2 billion units of products 20.1 Million product types

Total number of products successfully having sales
delivered on the top 5 E-commerce Total number of products with successful
platforms sales on the top 5 E-commerce platforms

Increase by 52.3% over the year 2022 Increase by 4.5% over the year 2022
 9 | Analysis of the Online Retail market in 2023 | Monthly revenue

Monthly revenue and growth rate on the top 5 E-commerce platforms in 2023 (Billion VND)

30,000 100.0%
87.7% 89.9%
90.0%
25,000
80.0%
76.3%
74.0%
70.0%
20,000
51.6% 54.9%
58.8% 60.0%
53.2%
15,000 50.0%
48.2%
40.0%
37.2%
10,000
30.0%

20.0%
5,000 23.2%
8.3% 10.0%

- 0.0%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Revenue 2022 Revenue 2023 Growth rate compared to the same period in 2022

The overall revenue growth rate in 2023 compared to 2022 reached 53.4%, notably surging in the last two quarters of the year
with the highest growth rate at 89.9% in September. This month also recorded the highest revenue of the year, totaling 21.1
trillion VND on the top 5 E-commerce platforms in Vietnam, including Shopee, Lazada, Tiki, TikTok Shop, and Sendo.

Consumers no longer wait until the end of the year to focus on shopping; instead, there is now a more even distribution of
shopping throughout the year. The period from August onwards is the peak season of the consumers’ shopping activity.
10 | Analysis of the Online Retail market in 2023 | Statistics by sector

Revenue Unit Sales Increase the revenue Growth rate in number of

Sector Shops
(Billions VND) (Million products) compared to 2022 shops compared to 2022
Beauty 37,736 341 137,081 52.2% -3.8%
Home & lifestyle 29,634 391 212,247 64.4% 1.0%
Women's fashion 26,052 266 111,847 54.4% -8.1%
Home appliances 17,359 45 60,618 55.1% -3.7%
Mobile phones & tablets 13,908 104 57,684 54.4% 3.1%
Moms & babies 12,494 82 72,744 56.3% -4.3%
Men's fashion 12,393 98 59,467 62.8% 0.5%
Healthcare 11,817 90 76,102 27.3% -12.9%
Grocery, Food & Beverage 10,939 140 68,940 64.8% -5.6%
Sports & travelling 8,927 78 76,585 92.1% 3.1%
Car & motorbikes 5,529 48 56,005 26.5% 1.6%
Women's shoes 5,235 41 29,949 45.8% -8.0%
Laptops & office devices 4,571 20 38,773 42.7% 4.5%
Men's shoes 4,203 27 25,736 56.7% -6.8%
Sound devices 4,202 17 25,218 35.1% -13.3%
Fashion accessories 4,134 128 64,989 50.6% -8.7%
Kid's fashion 4,013 54 45,336 34.4% -16.5%
Toys 3,054 44 56,656 47.1% 0.0%
Women's Wallet Bags 2,626 24 32,165 41.7% -9.9%
Stationery 2,279 113 48,285 40.6% -19.2%
Pets 2,234 53 23,160 58.4% -1.3%
Books & magazines 1,490 16 2,824 29.1% -1.4%
Camera Camcorder 1,437 5 11,360 42.6% -8.2%
Watches & Jewelry 1,334 8 14,645 47.6% -5.5%
Digital & Gaming Devices 1,252 5 15,036 70.5% -1.8%
Men's Wallet Bags 906 6 13,127 36.3% -4.9%
Music & movies 197 2 6,223 30.8% -2.3%
Vouchers & services 147 3 285 -26.6% -36.7%
11 | Analysis of the Online Retail market in 2023 | Statistics by sector

The sector with the highest revenue on the top 5 E-commerce The sector with the highest unit sales on the top 5 E-commerce
platforms in 2023 platforms in 2023

Beauty
Home & lifestyle
Home & lifestyle Beauty
16% 17%
Women's fashion 26% 26% Women's fashion
Home appliances Groceries
233.2 2.2
Mobile phones & tablets thousand 13% Fashion accessories
billion 15%
Moms & babies 5% billion units Stationery
4%
Men's fashion 4% Mobile phones & tablets
5%
11%
Healthcare 5% 12% Healthcare
5%
5% 8% 5% Men's fashion
Groceries 6% 6% 6%
Others Others

Over the 6 years of development of the E-commerce market in Vietnam, the leading sector in terms of both revenue and the
quantity of products sold are Beauty, Home - Living, and Women's Fashion. These sector have significant advantages with
fast consumption rate, easy storage and delivery. Therefore, these are also the most competitive sector in the market.

Home Appliances, Phones & Tablets are experiencing a significant shift towards E-commerce platforms. Major brands are
getting closer to consumers through official online stores, achieving notable success as both revenue and sales volume have
increased rapidly in 2023.

The Sports & Travel sector has the highest revenue growth rate with 92.1% and an increase in the number of sellers compared
to 2022 of 3.1%.
12 | Analysis of the Online Retail market in 2023 | Statistics by regions

Market share in terms of revenue by warehouse location Market share in terms of unit sales by warehouse location
1% 1% 1%0%
Ha Noi 1% 1% Ha Noi
6%
Ho Chi Minh 6% 1% Ho Chi Minh
Oversea 3% Oversea
Bac Ninh 6% Hai Duong
14% 44%
Nam Dinh 48% Bac Ninh
Hai Duong Nam Dinh
Hung Yen Thai Nguyen
Quang Ninh 32% Hung Yen
Binh Duong 30% Lang Son
Da Nang Thanh Hoa

Others Others

Growth rate Growth rate

Location Revenue (VND) Location Units of Products
compared to 2022 compared to 2022

Ha Noi 76,662,506,516,424 44.6% Ha Noi 760,672,098 45.8%

Ho Chi Minh 51,230,697,838,301 31.2% Ho Chi Minh 517,153,236 41.4%
Oversea 9,929,643,169,285 40.0% Oversea 235,403,051 30.6%
Bac Ninh 5,571,295,269,073 132.3% Hai Duong 25,268,342 159.7%
Nam Dinh 2,111,711,443,194 33.6% Bac Ninh 22,927,897 53.0%
Hai Duong 1,641,702,772,563 116.5% Nam Dinh 19,799,426 41.5%
Hung Yen 1,063,012,575,559 62.5% Thai Nguyen 15,251,303 12.8%
Quang Ninh 955,612,007,846 151.8% Hung Yen 12,043,934 77.1%
Binh Duong 820,022,713,742 20.9% Lang Son 9,217,831 143.5%
Da Nang 812,360,114,235 20.1% Thanh Hoa 9,115,970 148.1%
Others 9,265,855,904,883 Others 113,152,839

*Statistics compiled on 2 platforms including Shopee and Sendo.

 13 | Analysis of the Online Retail market in 2023 | Statistics on price segments

Market share in terms of revenue by price segments Unit sales structure by price segments Consumers still prioritize shopping on
E-commerce platforms for products in
10% the low to mid-price range from 10,000
10k - 50k
28% VND to 350,000 VND.
13% 50k - 100k 34%
41%
100k - 150k Revenue and the quantity of products
11% 150k - 200k sold in these price segments both
6%
accounted for largest market share of
200k - 350k
6%
10% the industry in 2023.
Others 9% 17%
15%

Revenue - quantity of products sold by price segments on the top 5 E-commerce platforms in 2023 (Billion VND – Million units)

40,000 900
34,952
35,000 800
29,557
30,000 700
25,894
22,976 23,011 600
25,000
19,198 500
20,000
14,985 400
15,000
9,965 10,196 9,229
300
10,000 7,180 6,442 6,541 200
4,542
3,321
5,000 2,162 1,956 100
- -

Million Products
< 10k 10k - 50k - 100k - 150k - 200k - 350k - 500k - 750k - 1Tr - 1,5Tr - 2Tr - 3,5Tr - 5Tr - 10Tr - 15Tr - > 20Tr
Billions VND

50k 100k 150k 200k 350k 500k 750k 1Tr 1,5Tr 2Tr 3,5Tr 5Tr 10Tr 15Tr 20Tr

Revenue Units of products

14 | Analysis of the Online Retail market in 2023 | Statistics by brands

In 2023, there were 163,748 brands that successfully sold their products on E-commerce platforms, showed a decrease of
4% (equivalent to 6,798 brands) compared to that in 2022. All sectors on E-commerce platforms experienced a decrease in
the number of brands. In which, Vouchers – Services, Mother & Baby, Toys, Office Supplies, Children's Fashion, Audio
Equipment, Watches & Jewelry are the sector with the most significant decline.

OEM, a generic term for products without a brand but having the highest sales volume, generated top 3 revenue across all
5 E-commerce platforms in the past year. This indicates that small businesses, including those that have not yet established
a brand image, still have a lot of growth opportunities.

Top 10 brands with the highest revenue Top 10 brands with the highest quantity of unit sales

Apple OEM
Samsung 4%3% 4% 4% Deli
4% 4%
OEM 5% 24% Focallure
4%
Xiaomi 5% 15 4% Books (many authors)
41%
La Roche-Posay 5% thousand 4% 41 Banobagi
Ensure billion million Deliz
Hapo dong 8% units
13% Inochi
22%
Honda Baseus
10%
Fatz Baby 15% Vinamilk
17%
Oppo
Vaseline

The top 10 brands with the highest revenue account for The top 10 brands with the highest quantity of products
6% of the total market revenue, primarily from the sold account for 2% of the total market sales volume,
United States, South Korea, and China. including 2 Vietnamese brands: Vinamilk and Inochi.

*Statistics compiled on 4 platforms: Shopee, Lazada, Tiki, and Sendo.

15 | Analysis of the Online Retail market in 2023 | Statistics by shop type

Revenue by shop type over the years (VND Billion) Number of shops by shop type over the years (Shop)
In 2022, there was
an increase of
8,965 Mall shops
compared to 2021.
Non-Mall Shops However, in 2023,
141,719
598,381 there is a significant
Mall Shops 601,554
108,000 471,216
decrease of 6,669
86,875 Mall shops.

54,951 These figures

26,173 34,462
34,342 43,307 36,638 indicate that the
2021 2022 2023 consideration of
2021 2022 2023
the shop type on E-
commerce
Top 10 shops with the highest revenue on the top 5 Top 10 shops with the highest unit sales on the top 5
E-commerce platforms E-commerce platforms platforms needs to
be calculated in
Shop type Shop Name Channel Shop type Shop Name Channel accordance with
Apple Flagship Store FOCALLURE.vn the maintenance
Tiki Trading Tiki Trading costs and business
La Roche-Posay Chính Hãng Unilever Việt Nam _ Health & Beauty model of the
ShopDunk Official Store Non-Mall GoLaNa Shop enterprise.
Unilever Việt Nam _ Health & Beauty Non-Mall Love Studio
Apple Flagship Store Non-Mall Thế Giới Skin Food
Vinamilk-Giấc Mơ Sữa Việt L'Oreal Paris Official Store
SAMSUNG OFFICIAL STORE Hasaki Official Store
Gian Hàng Ensure Chính Hãng Unilever - Chăm sóc Gia đình
L'Oreal Paris Official Store Lazada Global
16 | Analysis of the Online Retail market in 2023 | Statistics by buyer reviews

Number of products Number of products Number of products Growth rate of positive Growth rate of negative
Sector with average rating of with average rating of with average rating of products' reviews products' reviews
4 - 5 points 3 - 4 points 0 - 3 points compared to 2022 compared to 2022
Home & lifestyle 3,342,738 96,861 65,944 -1.9% 24.4%
Women's fashion 2,141,281 75,692 51,422 2.3% 14.5%
Beauty 2,059,963 37,264 40,287 -5.2% 72.2%
Mobile phones & tablets 1,115,519 41,592 31,336 10.4% 37.8%
Fashion accessories 1,012,393 25,168 18,464 1.9% 58.0%
Grocery, Food & Beverage 916,368 17,090 13,692 -6.1% 47.5%
Car & motorbikes 897,739 33,468 23,821 3.9% 22.4%
Stationery 735,584 12,185 5,553 -2.1% 0.3%
Kid's fashion 718,690 14,989 8,531 -1.0% 11.6%
Sports & travelling 689,918 24,226 18,100 13.6% 36.9%
Toys 605,805 15,852 13,666 3.3% 52.5%
Moms & babies 605,791 11,309 12,747 -4.7% 77.7%
Men's fashion 597,395 26,325 15,600 5.4% -3.1%
Healthcare 570,440 8,472 6,326 -2.5% 46.3%
Home appliances 542,857 15,683 9,276 4.7% 13.9%
Pets 387,804 7,725 7,167 0.0% 69.4%
Books & magazines 362,085 5,094 4,852 5.6% 63.6%
Women's shoes 349,822 10,728 7,328 17.3% 32.9%
Laptops & office devices 327,707 9,467 9,849 0.7% 51.5%
Women's Wallet Bags 264,665 6,594 5,532 7.4% 35.6%
Sound devices 229,863 7,549 4,034 -2.8% -9.1%
Men's shoes 188,052 6,262 4,434 7.5% 26.1%
Watches & Jewelry 155,994 4,969 4,405 0.0% 9.6%
Digital & Gaming Devices 78,775 3,061 2,608 5.3% 2.9%
Camera Camcorder 72,152 2,355 1,177 -0.2% -8.4%
Men's Wallet Bags 57,538 1,644 1,769 0.2% 51.1%
Music & movies 42,274 1,131 869 9.6% 32.1%
Vouchers & services 2,391 41 24 -54.2% -66.2%
17 | Analysis of the Online Retail market in 2023 | Statistics by buyer reviews

Number of products based on the average rating scale by buyers in 2022 - 2023
The top 3 sectors with the highest revenue are
also the group that has the highest number of
positive reviews (4-5 stars).

The proportion of products with an average rating

from 4-5 stars on the Shopee and Lazada is the
highest compared to other platforms.

TikTok Shop has doubled its negative review rate

rating 4-5 rating 3-4 rating 0-3
compared to 2022, and also has the highest
2022 18,879,761 583,210 301,370 proportion of products receiving negative ratings.
2023 19,409,062 530,644 397,994

Number of products based on average rating scale on each platform in 2022 - 2023

100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Shopee Lazada Tiki Sendo Tiktok Shop

rating 4-5 rating 3-4 rating 0-3

III. Detail analysis of the remarkable sectors
in 2023
Statistical data from 01/01/2023 – 12/31/2023
Beauty
Statistical data from 01/01/2023 – 12/31/2023
20 | Detail analysis of the remarkable sectors | Beauty sector | Overview in 2023

Revenue on top 5 E-commerce Unit sales on top 5 E-commerce No. shops with products sold on top Revenue growth rate over 2022
platforms platforms 5 E-commerce platforms

37.7 VND Trillion 341 million units 137 thousand shops +52.2%

Monthly revenue and growth rate of the beauty sector in 2023 compared to 2022 (Billion VND)

4,500 120.0%
106.3% 96.1%
4,000
100.0%
3,500
75.0%
3,000 80.0%
62.5% 60.5% 57.6%
2,500 56.4% 56.9%
60.0%
2,000
38.0% 24.8%
1,500 40.0%
25.4%
1,000 24.7%
20.0%
500
- 0.0%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Revenue 2022 Revenue 2023 Growth rate compared to the same period in 2022

The overall revenue growth rate of the Beauty sector in 2023 compared to 2022 reached 52.2%. The purchasing power began to
recover since the third quarter of 2023, with an average revenue for the last 6 months of the year reaching 2.86 trillion VND. The
revenue in August saw a growth rate of 96.1% compared to the same period in 2022, reaching nearly 4 trillion VND - the highest
revenue in 2023.
21 | Detail analysis of the remarkable sectors | Beauty sector | Overview over the years

Revenue on top 5 E-commerce Unit sales on top 5 E-commerce Numbers of shops having products
platforms (Billion VND) platforms (Million units) sold on top 5 E-commerce platforms
(Thousand shops)

37,736
142 137
341

24,791 103
235

16,789 155

2021 2022 2023 2021 2022 2023 2021 2022 2023

Market share in terms of revenue by shop type (Billion VND)

The Beauty sector showed strong growth, with a year
over year revenue growth rate of 47.6% in 2022, and
52.2% in 2023. Additionally, the sales volume of this
sector has also increased significantly over the years.
70% 70% 68%
Total number of the sellers on the entire market
decreased by 5,000 in the year 2023 despite 20,000 new
sellers entering the market through TikTok Shop in this
year. Therefore, a total of 25,000 shops ceased
operations on the remaining 4 E-commerce platforms.
30% 30% 32%
The competition in the Beauty sector is extremely fierce,
and there is a visible trend of shifting towards Shop Mall. 2021 2022 2023
It is expected that this trend will continue in 2024. Non-Mall Shops 11,808 17,251 25,736
Mall Shops 4,970 7,466 12,037
22 | Detail analysis of the remarkable sectors | Beauty sector | Statistics by product categories

Revenue of the beauty sector on the top 5 E-commerce Unit sales of the beauty sector on the top 5 E-commerce
platforms by product categories (Billion VND) platforms by product categories (Million units)

Skincare 10,074.6 Skincare 71.4

Makeup 4,196.8 Beauty instruments 47.5

Perfume 3,924.0 Makeup 45.0

Beauty instruments 3,186.0 Hand, foot & nail care 35.8

Hair care 2,666.5 Bath & Body care 24.8

Bath & Body care 2,569.5 Hair care 20.2

Personal care 1,335.6 Perfume 19.6

Hand, foot & nail care 952.9 Personal care 12.5

Men care 847.2 Men care 6.2

Beauty product set 287.9 Beauty product set 1.0

Others 77.3 Others 0.5

Mall shops Non-Mall shops

*Statistics compiled from 4 platforms: Shopee, Lazada, Tiki, Sendo.

 23 | Detail analysis of the remarkable sectors | Beauty sector | Statistics by the price segments

Market share in terms of revenue by price segments The price segments that generate the best revenue and sales volume
in the beauty sector are VND100,000 – VND150,000 and VND200,000
– VND 350,000.
13%
23% 50k - 100k For Shop Mall, products in the price segments of VND350,000 –
100k - 150k VND500,000, VND750,000 – VND1,000,000 and VND 3,500,000 –
15%
150k - 200k VND5,000,000 bring the highest revenue to the sector. This indicates
12% that sellers are becoming more professional, employing effective
200k - 350k
business strategies, and optimizing online product pricing.
13% 350k - 500k
Others The average price that consumers spend on a product in the beauty
24%
sector in 2023 is VND110,000 per item.

Revenue and unit sales of the Beauty sector in 2023 by price segment (Billion VND – Million units)

9,000 8,084 120

8,000
100
7,000
6,000 5,103 80
4,567 4,512
5,000 4,139
60
4,000 3,208
2,871
3,000 40
2,000 1,419 1,299
820 864 20
1,000 449 230 406

Million Products
- -
Billions VND

< 10k 10k - 50k 50k - 100k - 150k - 200k - 350k - 500k - 750k - 1Tr - 1,5Tr - 2Tr - 3,5Tr - > 5Tr
100k 150k 200k 350k 500k 750k 1Tr 1,5Tr 2Tr 3,5Tr 5Tr

Revenue of Mall shops Revenue of Non-Mall shops Units of Products

24 | Detail analysis of the remarkable sectors | Beauty sector | Statistics by brands and sellers

Top 10 brands with the highest revenue Top 10 brands with the highest unit sales

Non-Mall shops
Mall shops

Top 10 shops with the highest revenue Top 10 shops with the highest unit sales

Shop type Shop Name Channel Shop type Shop Name Channel
La Roche-Posay Chính Hãng FOCALLURE.vn
Unilever Việt Nam _ Health & Beauty Unilever Việt Nam _ Health & Beauty
L'Oreal Paris Official Store Non-Mall Nghi Thảo Official
FOCALLURE.vn Non-Mall Thế Giới Skin Food
Maybelline Official Store L'Oreal Paris Official Store
La Roche-Posay Non-Mall NAIL LA MOS
Watsons Vietnam Official Store Non-Mall Hasaki Official Store
L'Oreal Paris Maybelline Official Store
Yoroshiko. Non-Mall SACE LADY Official Store
Non-Mall Hasaki Official Store Watsons Vietnam Official Store
*Data collected from 4 platforms: Shopee, Lazada, Tiki, and Sendo
25 | Beauty sector | Statistics by Best-selling Products

Makeup Remover Shampoo and Conditioner Set Sunscreen Cream Facial Cleansing

Skin Scrub Lipstick Matte/Gloss Skin Care Serum Body Lotion Foundation Cream

Deodorant Cushion At-home hair removal device Women's perfume Moisturizing cream Men care
26 | Beauty sector | A snapshot

The Beauty sector holds the top position in terms of revenue in the overall sector ranking and second position in terms of sales
volume across the top 5 E-commerce platforms in 2023. Specifically, the sector had a revenue of VND37.7 trillion with 341 million units
of products sold.

The most significant growth occurred in January 2023, with a breakthrough growth rate of 106.3% compared to the same period.
However, the best-performing months in terms of revenue and sales volume were August and September. This sector exhibits
consistent year-round consumption, with a growth rate of 52.2% compared to 2022.

The Facial skincare and Makeup categories are the most prominent within this sector, these are also the categories having the highest
proportion of purchases from official stores. Instead of focusing solely on price, consumers prioritize quality when it comes to
products that directly impact their health, and they are willing to pay a higher price for reputable products with clear origins.

The top 10 brands and sellers having the highest revenue and sales volume in the Beauty sector have a significant portion of their
sales from official stores.

The price segments that generated the best revenue and sales volume in the Beauty sector are VND100,000 – VND150,000 and
VND200,000 – VND350,000. Price segments of VND350,000 – VND500,000, VND750,000 – VND1,000,000, and VND3,500,000 –
VND5,000,000 have significant portion of revenue from Shop Mall - over 40% , surpassing the overall market in the Beauty sector.

In 2023, consumers tend to spend more on personal care products in the Beauty sector, with the average price that they pay for a
beauty product is VND110,000.
Grocery, Food & Beverage
Statistical data from 01/01/2023 – 12/31/2023
 28 | Grocery, Food & Beverage | Overview in 2023

Revenue of top 5 E-commerce Unit sales on top 5 E-commerce No. shops with products sold on top 5
E-commerce platforms Revenue growth rate over 2022
platforms platforms

11 VND Trillion 140 million units 69 thousand shops +64.8%

Monthly revenue and growth rate of the Grocery, Food & Beverage sector in 2023 compared to 2022 (Billion VND)

1,400 140.0%
122.1%
1,200 120.0%
102.0%
1,000 100.0%
89.4% 84.6% 84.9%
67.6% 72.8% 72.6%
800 66.5% 80.0%

600 47.1% 60.0%

400 40.0%

200 25.3% 20.0%

14.7%
- 0.0%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Revenue 2022 Revenue 2023 Growth rate compared to the same period in 2022

The overall revenue growth rate of the Grocery, Food & Beverage sector in 2023 compared to 2022 reached 64.8%. Signs of
purchasing power recovery began in Q3, with July having the highest growth rate compared to the same period, reaching 102%;
and September achieving the highest revenue of nearly VND1,000 billion.
29 | Grocery, Food & Beverage | Overview over the years

Revenue on top 5 E-commerce Unit sales on top 5 E-commerce No. shops having products sold on
platforms (Billion VND) platforms (Million units) top 5 E-commerce platforms
(Thousand shops)

140 73
69
10,939
59

6,639 87

4,044 59

2021 2022 2023 2021 2022 2023 2021 2022 2023

Market share in terms of revenue by shop type (Billion VND)

The revenue growth rate of the Grocery, Food
& Beverage sector has been relatively stable
from 2021 to the present, reaching over 64%
per year.

Total number of the sellers on the entire 74% 74% 74%

market decreased by over 4,000 shops in the
year 2023 despite 10,000 new sellers entering
the market through TikTok Shop in this year.
Therefore, a total of 14,000 shops ceased
operations on the remaining 4 E-commerce 26% 26% 26%
platforms.
2021 2022 2023
The revenue ratio from Non-Mall shops tends Non-Mall Shops 2,982 4,902 8,057
to increase compared to previous years.
Mall Shops 1,054 1,683 2,878
 30 | Grocery, Food & Beverage | Statistics by product categories

Revenue of the Grocery, Food & Beverage sector on the top 5 Unit sales of the Grocery, Food & Beverage sector on the top
E-commerce platforms by product categories (Billion VND) 5 E-commerce platforms by product categories (Million
units)

Drinks 2,480.1 Snacks 35.6

Milk - eggs 1,693.0 Drinks 21.9

Snacks 1,287.8 Prepared dry foods 12.2

Cooking ingredients 571.0 Cooking ingredients 11.3

Prepared dry foods 540.6 Cakes 10.7

Neccessary 470.6 Neccessary 7.6

Cereals & jams 439.6 Baking supplies 6.5

Cakes 400.6 Milk - eggs 6.4

Baking supplies 313.5 Cereals & jams 4.7

Acoholic drink 247.1 Fresh & frozen foods 1.0

Department stores - Other foods 64.9 Acoholic drink 0.6

Fresh & frozen foods 64.2 Vegetable 0.5

Gift set 51.9 Department stores - Other foods 0.3

Vegetable 22.9 Gift set 0.1

Mall shops Non-Mall shops

*The data is compiled from the 4 platforms Shopee, Lazada, Tiki, and Sendo
31 | Grocery, Food & Beverage |Statistics by the price segments

Market share in terms of revenue by price segment

The price segments that bring the highest revenue and sales
volume in the Grocery, Food & Beverage sector are
16% VND10,000 – VND50,000 and VND50,000 – VND100,000.
10k - 50k
40% With Shop Mall, the price segments of VND350,000 –
50k - 100k
VND500,000, VND750,000 – VND1,000,000, and
19% 100k - 150k
VND1,000,000 – VND1,500,000 generate the most revenue.
200k - 350k
Others
The average price paid by consumers for a product in the
12% Grocery, Food & Beverage sector in 2023 is VND80,000 per
13%
item.

Revenue and Unit sales of the Grocery, Food & Beverage sector in 2023 by price segment (VND Billion – Million units)

2,500 70

2,018
60
2,000 1,794
50
1,419
1,500 1,337
40
1,006
872 900 30
1,000

482 20
500 359
183 223 10
162

Millions of Products
151
50
- -
Billions VND

< 10k 10k - 50k 50k - 100k - 150k - 200k - 350k - 500k - 750k - 1Tr - 1,5Tr - 2Tr - 3,5Tr - > 5Tr
100k 150k 200k 350k 500k 750k 1Tr 1,5Tr 2Tr 3,5Tr 5Tr

Revenue of Mall shops Revenue of Non-Mall shops Units of Products

32 | Grocery, Food & Beverage |Statistics by brands and sellers

Top 10 brands with the highest revenue Top 10 brands with the highest unit sales

Non-Mall shops
Mall shops
Bánh tráng
Minh Triết OEM Viettin
mart

Top 10 shops with the highest revenue Top 10 shops with the highest unit sales

Shop type Shop Name Channel Shop type Shop Name Channel
Vinamilk-Giấc Mơ Sữa Việt Non-Mall Shop ăn vặt Mẹ Gold
Gian Hàng Ensure Chính Hãng Non-Mall Xuanluan_Mart
Ensure Non-Mall Tiệm Ăn Vặt Thuỳ Bùi
Gian Hàng Glucerna Chính Hãng Vinamilk-Giấc Mơ Sữa Việt
Glucerna Non-Mall FoodMap Flagships Store.Selection
Lazada Super Market Non-Mall THIÊNTHANHFOODS.Selection
TH true mart Official Store Non-Mall Bánh Tráng Minh Triết
HEINEKEN OFFICIAL Non-Mall Ăn Vặt Tiger Food
HEINEKEN VIET NAM Non-Mall Nông Sản Giọt Nắng
Nestle Việt Nam Non-Mall BẾP CỦA MẸ ONICI
* Data compiled from 4 platforms: Shopee, Lazada, Tiki, and Sendo
33 | Grocery, Food & Beverage |Statistics by Best-selling Products

Milk powder Milk Fresh Milk Canned beer

Granola Rice paper Instant coffee Beauty tea Puffed rice with
shredded pork floss

Dried beef/chicken Packaged snacks Vegetable oil Sweetened Rice Nutritional nuts
condensed milk
34 | Grocery, Food & Beverage | A snapshot

Grocery, Food & Beverage sector has the 9th highest revenue in the overall sector ranking and is ranked 4th in terms of sales volume
across the top 5 E-commerce platforms in 2023. Specifically, the revenue of this sector reached VND11 trillion with 140 million units of
products sold.

February 2023 experienced the most remarkable growth, with a growth rate of 122.1% compared to the same period last year.
However, the peak revenue and sales volume occurred in the months of September and October. This sector demonstrates consistent
consumption throughout the year, achieving a growth rate of 64.8% compared to 2022

The most sought-after product categories within this sector are Beverages, Snacks, and Dairy – Egg products, with Beverage and Dairy
– Egg products having a high proportion of revenue from official stores, up to 50%.

The top 10 brands and sellers with high revenue and sales in this sector have a significant proportion of purchases from official stores.

The price segments that have the best revenue and sales volume in the Grocery, Food & Beverage sector are VND10,000 – VND50,000
and VND50,000 – VND100,000. Price segments of VND350,000 – VND500,000, VND750,000 – VND1,000,000 and VND1,000,000 –
VND1,500,000 are the price ranges with the highest revenue contribution from large Shop Malls, exceeding 50% compared to the
overall market in this sector.

In 2023, consumers tend to spend more on essential goods in the Grocery, Food & Beverage sector, with the average price that they
pay for a product is VND 80,000.
Home Appliances
Statistical data from 01/01/2023 – 12/31/2023
 36 | Home Appliances | Overview in 2023

Revenue on top 5 E-commerce Unit sales on top 5 E-commerce No. shops with products sold on top 5
Revenue growth rate over 2022
platforms platforms E-commerce platforms

17.4 VND Trillion 45 million units 61 thousand shops +55.1%

Monthly revenue and growth rate of the Home Appliances sector in 2023 compared to 2022 (VND Billion)

2,500 119.1% 123.0% 140.0%

120.0%
2,000 85.2% 92.4% 100.0%

56.9% 80.0%
1,500 49.4% 45.1% 50.4%
60.0%
43.1% 40.0%
1,000
22.6% 20.0%
19.8% 0.0%
500

-23.9% -20.0%
- -40.0%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Revenue 2022 Revenue 2023 Growth rate compared to the same period in 2022

The overall revenue growth rate of the Home Appliances sector in 2023 compared to 2022 reached 55.1%. Signs of purchasing
power recovery began in Quarter 3, with October experiencing the highest growth rate compared to the same period last year,
reaching 123%. September recorded revenue exceeding VND2 trillion - the highest in 2023.
37 | Home Appliances | Overview over the years

Revenue of top 5 E-commerce platforms Unit sales on top 5 E-commerce platforms Numbers of shops having products
(Billion VND) (Million units) sold on top 5 E-commerce platforms
(Thousand shops)

45 63 61
17,359

47
11,193 26
8,273
17

2021 2022 2023 2021 2022 2023 2021 2022 2023

The growth rate of the Home Appliances sector is Market share in terms of revenue by shop type (Billion VND)
increasing. The year over year growth rate of the sector
was 35.3% and 55.1% in 2022 and 2023 respectively. At
the same time, the sales volume of the sector also
increased significantly.

Total number of the sellers on the entire market 69%

79% 77%
decreased by over 2,000 shops in the year 2023 despite
4,000 new sellers entering the market through TikTok
Shop in this year. Therefore, a total of 6,000 shops
ceased operations on the remaining 4 E-commerce
platforms. 31%
21% 23%
The shift to Shop Mall is a noticeable trend. The share of
revenue from Shop Mall in 2023 increased by 10% 2021 2022 2023
compared to 2022. This trend is expected to continue in Non-Mall Shops 6,533 8,511 11,990
2024
Mall Shops 1,740 2,523 5,423
 38 | Home Appliances | Statistics by product categories

Revenue of the Home Appliances sector on the top 5 E-commerce Unit sales of the Home Appliances sector on the top 5 E-commerce
platforms by product categories (Billion VND) platforms by product categories (Million units)

Small household Kitchen appliances 7.9

4,331.0
electrical appliances

Kitchen appliances 4,302.3

Small household electrical appliances 7.7

Large household Electrical Circuits & Parts 5.0

1,445.2
electrical appliances

Televisions & Large household electrical appliances 2.4

549.7
Accessories

Electrical Circuits & The battery 1.6

210.6
Parts

The battery 69.5 Televisions & Accessories 0.6

Other household
59.5 Remote control device 0.5
electrical appliances

Remote control device 49.7 Other household electrical appliances 0.4

Industrial equipment 18.3 Industrial equipment 0.1

Mall shops Non-Mall shops

*The data is collected from the 4 platforms Shopee, Lazada, Tiki, and Sendo
 39 | Home Appliances | Statistics by the price segments

Market share in terms of revenue by price segment

The price segments that have the best revenue and sales
volume in the sector are VND200,000 – VND350,000 and
8% VND500,000 – VND750,000.
7%
200k - 350k
500k - 750k
Products within the price ranges of VND500,000 –
7% VND750,000, VND2,000,000 – VND3,500,000, and above
44%
1Tr - 1,5Tr VND5,000,000 are often preferred by consumers on Shop
10% 2Tr - 3,5Tr Mall.
> 5Tr The average price that consumers pay for a product in
Others the Home Appliances sector in 2023 is VND385,000 per
24%
item.

Revenue and Unit sales of the Home Appliances sector in 2023 by price segment (Billion VND – Million units)

3,500 3,187 16

3,000 14

12
2,500
10
2,000
8
1,500 1,304
1,126
962 6
901 820
1,000 768 716 793 745 763
677 4
537

Million of Products
500 2
44
- 0
Billions VND

< 10k 10k - 50k 50k - 100k - 150k - 200k - 350k - 500k - 750k - 1Tr - 1,5Tr - 2Tr - 3,5Tr - > 5Tr
100k 150k 200k 350k 500k 750k 1Tr 1,5Tr 2Tr 3,5Tr 5Tr

Revenue of Mall shops Revenue of Non-Mall shops Units of Products

40 | Home Appliances | Statistics by brands and sellers

Top 10 brands with the highest revenue Top 10 brands with the highest unit sales

OEM

Non-Mall shops
Mall shops
OEM

Top 10 shops with the highest revenue Top 10 shops with the highest unit sales

Shop type Shop Name Channel Shop type Shop Name Channel
SAMSUNG OFFICIAL STORE Yoroshiko.
Shopfasion90 .Unpublic
LG Official Store Tiki Trading
Yoroshiko. Non-Mall XIAOMI MIJIA
Win FujiMart Gaabor Official Store
Tiki Trading KUDIXIONG
KAW Store Non-Mall Tổng Kho Gia Dung.Vn.
Tân Bình Market Non-Mall Tổng Kho Gia Dụng Nhà Bếp
Lock&Lock Official Store Tuli&Bear
KAWOFFICIAL Lock&Lock Official Store
*The data is collected from the 4 platforms Shopee, Lazada, Tiki, and Sendo
41 | Home Appliances | Statistics by Best-selling Products

Robotic vacuum cleaner Handheld vacuum cleaner Steam iron Mini projector

Water Flosser Television Nut milk machine Slow juicer Air fryer

Air purifier Mini shoe dryer Dishwasher Mini washing machine Mini rice cooker Electric toothbrush
42 | Home Appliances | A snapshot

The Home Appliances sector ranks fourth in the overall sector ranking on the top 5 E-commerce platforms in 2023. Specifically, the
revenue of the sector reached VND17.4 trillion with 45 million units sold.

October 2023 witnessed the most remarkable growth rate compared to the same period, reaching 123%. However, the highest
revenue and sales volume were recorded in the period of September and October. This sector demonstrates consistent year-round
consumer demand, with a growth rate of 55.1% compared to 2022.

The most sought-after product groups in this sector are Kitchen Appliances and Small Appliances. These two groups also have the
highest portion of revenue from official stores compared to other groups in the Home Appliances sector.

The top 10 brands and sellers with high revenue and sales volume in the sector are globally reputable Home Appliances brands, with
a high purchasing rate from official stores.

The price segments that bring the best revenue and sales volume in the Home Appliances sector are VND200,000 – VND350,000 and
VND500,000 – VND750,000. The segments of VND500,000 – VND750,000, VND2,000,000 – VND3,500,000 and above VND5,000,000 are
price segments that have high revenue portion from large Shop Mall platforms compared to the overall market in this sector.

In 2023, consumers tend to spend more on home appliances mini in the Home Appliances sector, with the average price that they pay
for a product is VND385,000.
IV. Forecast of the Online Retail market in
2024
44 | Forecast of the Online Retail market in 2024 | Market size growth

Forecast of Vietnam's E-commerce Revenue Growth until 2024 (Billion VND)

Vietnam is the country with the highest growth rate of
648,528
online shopping in the Southeast Asia.

Revenue and sales volume on E-commerce platforms are

498,868 projected to continues to rise strongly in the coming year,
possibly reaching over VND310 trillion (approximately up
399,094 35%) in 2024.

333,390 Cross-border trading is becoming an inevitable trend in the

market, with a particular focus on official stores from
313,381 China and Korea gaining more attention on E-commerce
platforms in Vietnam.
232,134
E-commerce platforms are also implementing various
151,301 demand-stimulating policies, including "buy now - pay
113,418 later" schemes.

2021 2022 2023 2024F

B2C E-commerce revenue

Revenue on 5 E-commerce platforms (Shopee, Lazada, Tiki, Sendo, Tiktok Shop)

Livestream and Omnichannel will continue to be focused to

increase revenue in the coming year.

Product combos and bundles are a favored trend among

consumers for online shopping due to their affordable prices and
saving expenses.
45 | Forecast of Online Retail Market in 2024 | Online Shopping Trends

The E-commerce platform market is forecasted to continue its explosive growth in 2024. However, this does not mean the growth
opportunities are for all businesses. While in the 2016-2018 period, any business moving online could easily gain profits, in recent
years, as online platforms adjust their rules and players become more sophisticated, the remaining businesses are those with well-
defined and clear strategies.

We have identified some of the most prominent trends applied in Vietnam in 2024 to enhance competitiveness and attract target
customers in the digital environment.

DTC - Direct to Consumer – will be increasingly popular

This means that instead of using distributors, now manufacturers sell directly to consumers on e-commerce platforms. This allows
manufacturers to have comprehensive control over the entire process, including production, marketing, and sales. At the same time,
intermediary costs are minimized to the maximum extent, contributing to higher profit margins.

For instance, if they apply the B2B2C model

(Business to Business to Customer), they will have
to allocate 35% - 40% of the product cost to
distributors. In the case of selling directly on e-
commerce platforms, they would incur a much
lower fee (approximately less than 10%); and the
leftover amount can be directly deducted from
the selling price or invested in product features.
However, manufacturers adopting this model
need to understand the platforms’ operations,
thoroughly research approaches to customers in
this market, and build a reasonable sales policy to
balance the relationship with distributors. The
expansion of manufacturers into the E-commerce
platforms anticipates that the price war will
continue to intensify in 2024.
46 | Forecast of Online Retail Market in 2024 | Online Shopping Trends
AI, Machine Learning and Big Data continue being on the rise
These technologies have comprehensively changed the way sales operations and
consumer shopping are conducted by creating more immersive, precise, and secure
experiences. Now, users can see product advertisements, receive updates on
promotions, and get personalized product recommendations in the blink of an eye,
based on search history, interaction history, viewing, and purchasing behavior… While
AI and machine learning are primarily applied by large-scale online shopping platforms
or E-commerce websites with substantial investment, Big Data is rapidly being
deployed more broadly. Currently, not only E-Commerce platforms with big internal
data sources can be analyzed by big data, but businesses selling on these platforms
can also leverage this technology through third-party software providers. This excellent
tools help brands increase revenue and market share based on accurate analytical
data, especially in challenging market conditions. Through Big Data analysis, business
managers will have a better understanding of market trends and customer needs;
creating opportunities for secure business decisions, minimizing risks, and making
decision faster than competitors. Big data also helps optimize logistics, supply chain
management, product R&D, and sale operations on E-Commerce platforms.

Sustainable consumption
The trend of responsible consumption extends to E-commerce. Consumers express favoritism
towards and prioritize the use of products from brands that demonstrate environmental and
social responsibility rather than just focusing on low prices or deep discounts. In fact, they are
willing to pay more for businesses that excel in these responsibilities. Conversely, consumers
tend to reject products associated with businesses engaged in negative environmental activities
or exhibit non-standard practices in management (such as discrimination or unfair wages,
employing child labor…).

Several criteria that businesses should concentrate on in 2024: creating environmentally friendly
products, using sustainable packaging materials, and sourcing products from ethical suppliers,...
47 | Forecast of Online Retail Market in 2024 | Online Shopping Trends

The Baby Boomer generation is spending more on online shopping

Born in the period from 1956 to 1964 and coming of age during the tumultuous years of the 1970s, the Boomer II generation
witnessed historical events that changed the world and also in Vietnam. They are the ones who experienced rapid transformations
from black and white TV screens to the era of technology, WiFi, and smartphones. This generation also went through major social
changes such as the Women's Liberation, Civil Rights Movement, anti-war protests, and the Sexual Revolution. Therefore, in reality,
they are not overly conservative or backward-looking as we might often think.

“The usage time of mobile phones by Baby

Boomers has increased from 37 minutes per day to
2.5 hours per day in 2023. The duration of social
media usage also increased by 68% to nearly 90
minutes each day," according to Mr. Andy Childs,
Head of Strategy at Meta. Even on the TikTok
platform - originally labeled for teenagers, there
has been a staggering growth of Boomer II users.
In 2020, only 7.1% of users over 50 used TikTok in
the United States, about 7.1 million people. By
2023, this number has risen to ~21 million users
(14%). (*) Boomer II is also a group with high
spending capability. From now on, businesses and
brands can target this potential customer group on
online channels, instead of just focusing on
Millennials or Gen Z.

(*) Data from: TikTok U.S, Comscore, and Statista

48 | Comprehensive report on the Vietnamese Online Retail market in 2023 | Conclusion

Conclusion
The total revenue of the top 5 largest e-commerce platforms in Vietnam (Shopee, Lazada, Tiki, Sendo, TikTok Shop) in 2023 increased
by 53.4% compared to the same period in 2022 (analysis of TikTok Shop data is from September 2022) – the strongest growth in the
past 3 years. Specifically, the sales in 2023 reached VND233.2 trillion with 2.2 billion units of products sold.

The top 3 sectors in terms of revenue and sales volume are Beauty, Home - Living, and Women's Fashion. These are fast-moving
consumer goods, with short product lifecycles and high repurchase rates. Therefore, the accumulated profits on these products are
significant.

In 2023, there continues to be a decrease in the number of sellers compared to 2022. The total number of shops with orders on the
top 5 e-commerce platforms decreased by 1.3%, equivalent to about 10,000 sellers, despite the strong emergence and development of
new e-commerce platforms. The reasons for this decline are attributed to external factors (unstable economy, political instability,
global supply chain disruptions, intensifying competition, etc.) and, notably, internal factors from businesses (choosing the wrong
target market, chasing trend-driven products without suitable production/import plans, etc.).

As E-commerce gradually becomes a crucial platform for distributing products to consumers, businesses are sure to develop
systematically, and the level of competition will become more intense. Especially, brands that establish credibility and gain customer
trust will triumph in this race. The top 10 highest-revenue companies on the top 5 E-commerce platforms are all Mall Shops, focusing
on the Beauty and Mobile & Tablet sectors.
49 | Comprehensive report on the Vietnamese Online Retail market in 2023 | About us

About Us
As a large-scale database on E-commerce market analysis, Metric assists
businesses in understanding the market, making rightful decisions, and LARGEST BIG DATA DATABASE WITH THE
accelerating their operations faster by 5 times in making investment, ACCURACY OF 95%
production, and doing business in Vietnam. Metric's Big Data analysis
system is continuously updated, covering an unlimited number of product 350 million 800 billion
categories on both domestic (Shopee, Tiki, Lazada, Sendo, Tiktok Shop) Product data Price levels,
and international (Taobao, Tmall, 1688) E-commerce platforms. updated daily sales

Based on comprehensive data compiled and analyzed by Metric,

businesses can enhance operational efficiency in various business stages,
from R&D of new products, strategic business and investment planning, THE ONLY THE ONLY
building marketing strategies to optimizing and operating business on DATABASE DATABASE
platforms. Metric's effectiveness has earned the trust of over 1,000
businesses, state organizations, media agencies, and numerous covering 99 3 years
prestigious awards, including the Silver Award in the Top 10 Make In Viet
Nam 2022 Digital Technology Product Awards, InnoTrend Establishment % Vietnam E-commerce
marketplaces data
Award for Trendsetting, Outstanding Innovative Solution in Vietnam 2023, history
of e-commerce platforms
and the Second Prize in the Vietnamese Talent Awards 2023… in Vietnam & China.

Market report: Market research & analysis tool. Software solution Software solution for
Helps plan, strategize, and execute three times faster for monitoring and monitoring Market
controlling data: product data,
product prices prices, competitors,
Growth rate Sales across the entire production, and
Price change
history market, facilitating sector. Facilitates
price strategy management,
Price tracking Competitor Trending adjustments and execution, and
tracking product search execution five operations ten times
times faster. faster.
50 | Comprehensive report on the Vietnamese Online Retail market in 2023 | About us

About Us
PARTNERS

*Partners may not have the function of collaborating to supply data.

TRUSTED BY 1000+ LEADING BRANDS AND SELLERS

51 | Comprehensive report on the Vietnamese Online Retail market in 2023 | Copyright

Copyright

© DATA SCIENCE JOINT STOCK COMPANY

This report is one of Metric's efforts to support

organizations and businesses to quickly grasp market
information and build effective business strategies based
on big data analysis. Opinions reflect judgment at the time
and are subject to change. We are nor responsible for any
damage resulting from use of this report.
metric.vn 033 – 806 - 2221 info@metric.vn

Scan to discover how Big

Data boosts eCommerce
business growth