The Vietnamese e-commerce market is thriving, reaching $25 billion in 2024, a 20% increase compared to 2023. Contributing approximately 9% to the total retail and consumer service revenue, it underscores its growing importance in the digital economy. Vietnam ranks among the top three Southeast Asian countries in digital market size, with e-commerce revenue playing a significant role in the $30 billion digital economy in 2023. By 2030, the market is projected to reach $63 billion, surpassing Thailand and becoming second only to Indonesia.
Cross-border e-commerce serves as a key growth driver, with increasing participation from small and medium enterprises (SMEs) venturing into international markets. The entry of platforms like Shopee, Lazada, and emerging players such as Temu and Shein has intensified competition, pushing domestic businesses to innovate. Companies like Meet More have successfully adapted by leveraging livestreaming and collaborating with Gen Z creators to promote local products under the OCOP (One Commune One Product) brand, creating unique selling points.
While opportunities abound, challenges persist. Domestic players face fierce competition from global giants with advantages in logistics, pricing strategies, and operational scale. However, Vietnam’s high internet penetration rate, rapid adoption of cashless payments, and government support for digital transformation position it as a promising market for growth and investment.
For investors seeking a dynamic, fast-evolving market with untapped potential, Vietnam's e-commerce sector is a gateway to significant returns and long-term opportunities.
Conclusion
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