e-Commerce Market Analytics

The eCommerce market in Vietnam

Vietnam is the 25th largest market for eCommerce with a revenue of US$8 billion in 2021, placing it ahead of Norway and behind the United Arab Emirates.

With an increase of 24%, the Vietnamese eCommerce market contributed to the worldwide growth rate of 15% in 2021. Just like in Vietnam, global eCommerce sales are expected to increase over the next years. As new markets are emerging, global growth will continue over the next years. This development will be propelled by East and Southeast Asia with their growing middle class and their lagging offline infrastructure.

With a yearly growth rate of 7% between 2021 and 2025, Vietnam is even expected to outperform the global average of 6%.

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$335 million in 2021. thegioididong.com is followed by fptshop.com.vn and shopee.vn as the second- and third largest stores with US$254 million and US$234 million, respectively. Altogether, the top three stores account for 10% of online revenue in Vietnam.

Store rankings include every store that generates revenue 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 Vietnam was considered.

One of the fastest-growing stores in the Vietnamese market is shopee.vn. The store achieved online net sales of about US$0.2 billion in 2021. Its revenue growth amounted to 130% in the previous year.

More information on the top 100 online stores in Vietnam can be found in our ecommerceDB Country Report.

Growth champions:
Editorial tips:

Top online eCommerce stores in Vietnam by eCommerce net sales 2021 in million US$

# Store
1. thegioididong.com
US$335.2m
2. fptshop.com.vn
US$254.0m
3. dienmayxanh.com
US$193.2m
4. cellphones.com.vn
US$184.0m
5. dienmaycholon.vn
US$176.7m

The eCommerce market in Vietnam

Market size and growth rate

Revenue in 2021
US$12,785.3m
REVENUE
CAGR 2021-2025
15.8%
CAGR
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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The eCommerce market in Vietnam is expected to increase over the next few years, as indicated by the Statista Digital Market Outlook. It has been predicted that the compound annual growth rate for the next four years (CAGR 21-25) will be 7%. Compared to the year-over-year growth of 24% between 2020 and 2021, this decrease in yearly growth suggests a moderately flooded market. However, an indicator of growth potential is the online penetration of 41% in Vietnam; in other words, 41% of the Vietnamese population have bought at least one product online in 2021.

Five categories are considered by ecommerceDB. Electronics & Media is the largest segment in Vietnam and accounts for 28% of the eCommerce revenue in Vietnam. It is followed by Fashion with 22%, Food & Personal Care with 18%, Furniture & Appliances with 17%, and Toys, Hobby & DIY with the remaining 15%.


The eCommerce market in Vietnam

Top shipping service providers

In Vietnam, Viettel Post is the most frequently offered delivery service provider among online stores. Of those stores indicating which service they use to transport their goods, 33% cited Viettel Post as one of their providers. Moreover, EMS and Tin Thanh are among the top three shipping service companies offered by online retailers in Vietnam, at rates of 18% and 9%.

Shipping information is based on orders from the store's main country, which is defined as the one where the store generates most of its online revenue. As a result, only stores that generate more net sales in Vietnam than in any other country are taken into account. Furthermore, only stores that provide information about their shipping providers can be considered.

Competitor analysis of shipping service providers in Vietnam

# Shipping service provider
1. Viettel Post
33.0%
2. EMS
18.0%
3. Tin Thanh
9.0%