Vietnam’s E-commerce Boom: Soaring Online Sales Triple Traditional Retail Growth Rate
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During the first half of 2026, online retail sales have seen a significant surge, growing by over 40% year-over-year on key e-commerce platforms. This is triple the growth rate of Vietnam’s overall retail sector.
Online Marketplaces Experience Rapid Growth
According to a report from an e-commerce data analytics platform, the four main multi-category online marketplaces – Shopee, TikTok Shop, Lazada, and Tiki – experienced growth in gross merchandise value (GMV) ranging from 38-52%. These platforms collectively hosted 613,900 stores, with a total GMV of VND291.6 trillion (US$11.07 billion). These stores sold more than 2.18 billion products, marking a 41% and 12% increase respectively. On average, consumers spent around VND1.6 trillion a day, purchasing 12 million products, with the majority of spending in the beauty, fashion, home and living, groceries and food, and household appliances categories.
Many brands have reaped the benefits of this e-commerce boom. For instance, JBL, an audio equipment retailer, reported that its second-quarter sales on Lazada were double those of the previous year.
The Impact of Livestreaming and Discounts
The rapid growth of online retail has been partly attributed to the rise of livestreaming shopping, which has become the primary purchasing channel for online shoppers, accounting for 67% of their online expenditure. In addition to this, discounts have greatly influenced consumers’ preference for online shopping over traditional brick-and-mortar stores, with 82% of consumers citing discounts as a key factor in their purchasing decisions. Shoppers are encouraged to make immediate purchases due to livestream-exclusive vouchers and limited-time promotions.
However, increased fees for merchants on both Shopee and TikTok Shop have led to some sellers raising their prices. The National Competition Commission has requested reports from these platforms on the impact of their increased fees.
Questions & Answers
What is contributing to the rapid growth of online retail sales?
Factors such as the rise of livestream shopping, discounts, and the convenience of express delivery have contributed to the rapid growth of online retail sales.
How are brands benefiting from the e-commerce boom?
Brands are gaining high traffic and reaching more consumers through online channels, which also serve as effective platforms for promotional campaigns targeting younger consumers.
How are increased fees on e-commerce platforms affecting sellers?
Increased fees on e-commerce platforms like Shopee and TikTok Shop are leading some sellers to raise their prices. The impact of these increased fees is currently under review by the National Competition Commission.