Shopee dominates online shopping in Vietnam
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Shopee reported a new web traffic record in Vietnam with 52.5 million monthly visits last quarter, exceeding Lazada’s previous record in 2017.
The Singapore online shopping platform’s numbers exceeded those of the next two put together, Vietnamese companies Mobile World (25.1 million) and Tiki (21.1 million), according to data collated by Malaysian online shopping aggregator iPrice Group.
Shopee achieved growth of 21.6 percent from the first quarter, while the three behind it, Mobile World, Tiki, and Singapore’s Lazada, saw declines of 6-12 percent.
In the last quarter of 2017 Lazada reported 50.5 million monthly visits, but since then its numbers have declined — to 18.5 million in the second quarter of this year — as other players grabbed a bigger share of the market.
Tiki and another homegrown player Sendo informed authorities in June that they planned to merge, but later decided to call off the deal due to disruptions caused by the Covid-19 pandemic and disagreements between their shareholders.
Last year Vietnam’s Internet economy, which has been growing annually at 38 percent since 2015, was estimated to be worth $12 billion.
It is expected to rise to $43 billion by 2025, according to the “e-Conomy Southeast Asia report 2019” by Google, Singapore investment firm Temasek and U.S. global management consultancy Bain.
Questions & Answers
Q.What was the previous record for monthly web traffic in Vietnam before Shopee's recent achievement?
What was the previous record for monthly web traffic in Vietnam before Shopee's recent achievement?
Lazada previously held the record in 2017 with 50.5 million monthly visits. Shopee's recent figure of 52.5 million visits surpassed this previous high.
Q.Which other online shopping platforms did Shopee outperform in terms of monthly visits?
Which other online shopping platforms did Shopee outperform in terms of monthly visits?
Shopee's 52.5 million visits exceeded the combined totals of Mobile World (25.1 million) and Tiki (21.1 million). Lazada also recorded lower numbers in the last quarter.
Q.What were the reported reasons for Tiki and Sendo not proceeding with their planned merger?
What were the reported reasons for Tiki and Sendo not proceeding with their planned merger?
Tiki and Sendo called off their planned merger due to disruptions caused by the Covid-19 pandemic. There were also disagreements reported between their shareholders.
Q.How quickly has Vietnam's Internet economy been growing annually since 2015?
How quickly has Vietnam's Internet economy been growing annually since 2015?
Vietnam's Internet economy has been growing annually at a rate of 38 percent since 2015. It was estimated to be worth $12 billion last year.