Shopee leads e-commerce in Vietnam: Report

Can the rest of Vietnam’s e-commerce players manage to rise up even as Lazada and Shopee battle it out?

Hanoi Vietnam

Editor’s note: The contributor is a Vietnam-based executive with Southeast Asian online shopping aggregator firm iPrice. The company had recently published its latest report on e-commerce in Vietnam, ranking the country’s top 50 online shopping platforms. 

For the first time ever, Shopee has successfully claimed the title of being the most visited e-commerce marketplace in Vietnam on web, according to iPrice Group’s latest report.

This third quarter, Shopee Vietnam raked in 34.5 million web visits monthly, which is a 30% increase compared to the previous quarter, and an impressive 197% growth since the same period last year. It also surpassed Alibaba-backed Lazada Vietnam, which took the top spot since the chart was conceived in Quarter 2, 2017.

Despite falling to becoming number three, Lazada Vietnam is not far behind Shopee in terms of numbers. It gained more than 30.2 million web visits per month, only 100,000 away from numbers garnered by runner-up marketplace The Gioi Di Dong.

However, the most exciting occurrence is perhaps Tiki.vn’s amazing 47.59% increase, which brought it up to 29.4 million monthly web visits, a highest ever for the local marketplace.

This jump in growth took place not long after Tiki.vn raised US$44 million from China-based e-retailer JD.com. Another platform in the top five, Sen Do, also received US$51 million from foreign investors just last August. As such, four platforms out of the top five are known to be backed with foreign money.

So far this influx of investment has had a big influence on the e-commerce landscape of the Southeast Asian country as those four companies, plus Mobile World Group’s The Gioi Di Dong, are leading the chart and leaving the rest of the market quite far behind in terms of monthly web visits.

This quarter also marks the first time Vietnam has seen such a close race in its e-commerce rivalry: the differences in website traffic among the top five marketplaces is now in a tight five million visit range.

Expect even more surprises for the new quarter as marketplaces speed up promotional efforts in anticipation of the year-end shopping spree.