e-Commerce Market Analysis

The eCommerce market in Vietnam

In Vietnam is the 28th largest market for eCommerce with a revenue of US$4 billion in 2019, placing it ahead of Denmark and behind Finland.

With an increase of 35%, the Vietnamese eCommerce market contributed to the worldwide growth rate of 17% in 2019. Revenues for eCommerce continue to increase. New markets are emerging, and existing markets also have the potential for further development. Global growth will continue over the next few years. This will be propelled by East and Southeast Asia, with their expanding middle class and lagging offline shopping infrastructure.

The eCommerce market includes online sales of physical goods to a private end user (B2C). Included in this definition are purchases via computer as well as mobile purchases via smartphones and tablets. Excluded from the definition of ecommerceDB are the following: digitally distributed services (e.g., travel tickets), online stores dedicated to digital media downloads or streams, online stores dedicated to B2B markets, and sales between private individuals (C2C) within the eCommerce market.

The eCommerce market in Vietnam

Top online stores

The biggest player in the Vietnamese eCommerce Market is thegioididong.com. The store had a revenue of US$475 million in 2019. It is followed by fptshop.com.vn with US$143 million revenue and dienmayxanh.com with US$142 million revenue. Altogether, the top three stores account for 15% of online revenue in in Vietnam.

Store rankings are based on every store that generates revenue in in Vietnam. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in in Vietnam was considered.

One of the fastest-growing stores in the Vietnamese market is hoanghamobile.com. The store achieved sales of about US$0.1 billion in 2019. Its revenue growth amounted to 212% in the previous year.

Top online The eCommerce market stores in Vietnam by eCommerce net sales 2019 in million US$ The table shows the stores that generate the highest revenue in the Vietnamese market. For this evaluation, only revenue created in in Vietnam was considered. Basis are all shops on eCommerceDB that operate in in Vietnam.

# Store
1. thegioididong.com US$475m
2. fptshop.com.vn US$143m
3. dienmayxanh.com US$142m
4. cellphones.com.vn US$128m
5. hoanghamobile.com US$118m
The eCommerce market in Vietnam

Market size and growth rate

Revenue in 2019
CAGR 2019-2023

Digital Market Outlook by Statista

The Digital Market Outlook presents up-to-date figures on markets of the digital economy. The comparable key figures are based on extensive analyses of relevant indicators from the areas of society, economy, and technology.
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Market expansion in in Vietnam is expected to continue over the next few years, as indicated by the Statista Digital Market Outlook. It has been predicted that the compound annual growth rate (CAGR 19-23) for the next four years will be 17%. Compared to the year-over-year growth of 35%, this decrease suggests a moderately flooded market. Another indicator of market saturation is the online penetration of 41% in in Vietnam; in other words, 41% of the Vietnamese population have bought at least one product online in 2019.

Five categories are considered by ecommerceDB. Electronics & Media is the largest segment in in Vietnam and accounts for 27% of the eCommerce revenue in in Vietnam. This is followed by Fashion with 24%, Furniture & Appliances with 18%, Food & Personal Care with 16% and Toys, Hobby & DIY with the remaining 15%.

The eCommerce market in Vietnam

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