Vietnamese people spend nearly 900 billion dong to buy online every day

For the whole year, transaction sales (GMV) on 5 floors including Shopee, Lazada, Tiktok Shop, Tiki and Sendo reached VND 318,900 billion, up 37.36% compared to 2023, according to the new report of the public. Metric e -commerce data.

This figure accounts for nearly 6.5% of the total retail sales of goods nationwide in 2024, according to the General Statistics Office. However, the growth rate of online channels is 4.5 times faster than the general growth rate of the retail industry (8.3%).

In fact, Vietnamese spending on online purchases may be even bigger because Metric’s data has not been taken into account of GMV of social networking transactions and cross -border platforms.

At the end of last year, the Department of E -Commerce and Digital Economy, the Ministry of Commerce and Trade estimated that the 2024 e -commerce market has exceeded 25 billion USD, up 20%, higher than the $ 22 billion forecast of Google, Temasek , Bain & Company.

Along with sales, the production of goods sold through the 5 largest floors has also increased sharply over 50% over the past year, reaching more than 3.4 million products. “The numbers show that the purchasing power of the market remains high,” the Metric report commented.

Mr. Tran Lam, an online sales training expert and CEO of Julyhouse, added that e -commerce continues to go up and thanks to many businesses that increase investment, by realizing this channel plays an increasingly important role.

“They find online not only a place to sell but also affect the direct channel (offline). Sell good, offline will be good thanks to the effectiveness of brand identity,” he said.

About consumer trendsVietnamese people are increasingly preferring necessities, giving priority to genuine or foreign origin when “closing the application”.

Specifically, beauty, houses – life, fashion are the three industries that bring the most sales to the floors, but the department – new food has grown the highest, up to 76.3%. This trend shows that consumers are increasingly prioritizing buying ordinary necessities instead of going to the market or supermarket.

Genuine stalls such as Shopee Mall and Tiktok Shop Mall record growth of nearly 70% and more than 180% respectively. While the total number of shops on 5 floors in the past year, it decreased by 20.25%, and 650,000, showing fierce competition. Many small and inefficient salesmen have left the market, making room for units with clear strategies, providing the right product with flexible operation.

Notably, in 2024, witnessing a significant increase of imported goods with more than 324.1 million products brought into Vietnam, creating VND 14,200 billion of sales, growth of nearly 38% and 43% compared to respectively. With 2023.

According to Metric, Vietnamese consumers are not too afraid to order products from foreign countries because the logistics system is improved to help faster shipping time and minimize the risk of lost. Besides, the platforms also provide better return and exchange policies.

In addition, the competitive price of international goods is also an important factor, when many products have better prices in the country thanks to low production costs. “This is an important signal for domestic businesses, requiring them to optimize products and price strategies to be able to compete,” Metric reported.

Mr. Tran Lam predicts the upcoming e -commerce market to be fierce competition, especially with the power of imported products. According to him, Chinese goods are flooding a lot and the possibility of new landing waves to find output in the context of being surrounded by tariffs.

“I have seen many domestic fashion sellers who are not competitive with Chinese goods now have to transfer to agricultural products, food and natural products,” Mr. Lam said.

Metric argues that the rise of imported goods and changing consumer demand creates a significant challenge for domestic businesses, but at the same time opened opportunities to improve quality and more effective competition.

Recently, the Government has abandoned the VAT exemption policy with small value imported goods sold through courier from February 18. The Ministry of Finance said that the decision is to ensure fairness and encourage the consumption of domestic production.