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TikTok Shop surpasses established players to become one of the top three e-commerce platforms in Vietnam, as the market grows rapidly with a forecast of $49 billion by 2025.The report by Reputa shows that TikTok Shop has made a significant impact in the Vietnamese e-commerce market, surpassing established players like Tiki and Sendo to become one of the top three most popular e-commerce platforms on social networks, along with Shopee and Lazada.
According to the Ministry of Industry and Trade, the scale of Vietnam's retail e-commerce market in 2022 was estimated at $16.4 billion, which accounted for 7.5% of the country's revenue of consumer goods and services. Shopee emerged as the most popular e-commerce platform with a total score three times higher than the second-ranked platform, Lazada.
Meanwhile, TikTok Shop made its debut in the ranking and came in third, with a total score of 13.56, surpassing Tiki. Reputa's report also ranked the most popular e-commerce companies and industries in Vietnam, with Meta Online Network Joint Stock Company being the most popular e-commerce company and the "Beauty - Health" industry being the leading industry in terms of discussion.
The e-commerce market in Vietnam is expected to grow rapidly, with the growth rate of e-commerce in Vietnam expected to increase rapidly in 2023 and the market forecasted to reach $49 billion by 2025.
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