Online shopping into a habit and a livestream fever causing sales of Vietnamese floors to skyrocket over the past year, attracting the attention of new names.
From the full moon in December, Thu Ha (Hoai Duc district, Hanoi) said that it had surfed the application to order decorations, gift baskets, nuts, dried beef, dried pigs to prepare for the New Year of the Year 2025. ” In addition to fresh vegetables and flowers to buy directly for the air, the rest I bought online, “she said.
Including 800,000 dong ao dai, Ms. Ha also bought online, contributing to sales near 190 billion dong sold through shopee and tiktok shop for a month On January 19, according to Metric e -commerce data.
Earlier, in the fourth quarter of 2024, 8 million ao dai, 2 million Tet gift baskets and 2 million orders were sold on Shopee. Tiktok Shop said 100,000 hours of livestream attracted 2.9 billion views in the New Year shopping program in the first half of January.
Particularly 2 largest sessions, led by Influencer (influencer) of nomadic and Pham Thoai set a record of 400,000 orders. “Tet shopping on e -commerce has become a natural part of the habit of many Vietnamese consumers,” said Nguyen Ngo, Marketing Manager Tiktok Shop Vietnam, said.
Agricultural products sold on online markets. Image: Tiktok Shop
Strong growth
Not only is the new Tet holiday season, Vietnam’s retail e -commerce witnessed in 2024 booming. The report of e -commerce consulting firm Younet ECI said the total trading (GMV) on the 4 largest multi -industry floors including Shopee, Lazada, Tiktok Shop and Tiki reached 13.8 billion USD, up 40% record compared to the record With 2023.
The overview of the Department of E -Commerce and Digital Economy, the Ministry of Industry and Trade estimated that the size of the e -commerce market last year has exceeded US $ 25 billion, growing 20%, higher than the $ 22 billion forecast of USD. Google, Temasek, Bain & Company in the report “E-Conomy Sea 2024”.
Making this strong development is the fierce race of the floors with many price subsidies, incentives and entertainment methods, welcoming the trend of shifting the daily shopping habits of Vietnamese people.
First, the market’s great motivation is Shopee and Tiktok Shop, with GMV 9.3 billion and 3.8 billion USD respectively, accounting for 66.7% and 26.9% market share. Shopee continues to grow by 41% more years, and Tiktok Shop speeds at 99%. According to Younet ECI, thanks to the growth from these two platforms, e -commerce reached records and far exceeded the forecasts in early 2024.
Secondly, “Ace cards” stimulates the bridge is a preferential pump and shopping for entertainment (Shoppertainment), with livestream sales, via video. Shopee revealed that users have saved a total of VND 16,000 billion thanks to the code “freeship” (free shipping) last year. Customers “orange floor” also spent 260 million hours to monitor entertainment programs.
Livestream is also the main power of Tiktok Shop. For example, only on 12/12 days, 200 leading accounts on this platform distributed nearly 1,000 hours of livestream, attracting 54 million views, according to the Live Scope measurement tool of the Stickler platform.
Many local salesmen take turns. Chanh Thu fruit exporter recently brought OCOP 5 -star frozen durian “aired”. Or the brand of King Shrimp Ca Mau “on the floor” for 10 months, recorded revenue increased 3 times in 3 months of Tet.
Veena Media, specializing in online marketing advertising advice, evaluating Vietnam is the third largest sales market (Live Commerce) in Southeast Asia. “Domestic brands are gradually participating in Live Commerce and initially creating positive marks,” said Thuy Pham, CEO Veena Media.
Delivery staff waiting for customers to receive at Pham Van Bach Street, Cau Giay, Hanoi in February 2024. Image: Ngoc Thanh
Thirdly, consumers are increasingly shopping online for more daily needs, helping this channel grow higher than the general 9% of the retail industry last year, according to the General Statistics Office.
Younet ECI said the essential industry grew 54% GMV. Particularly for fast consumer groups (FMCG) – which can be easily purchased in grocery, market, supermarket – an increase of 62%, surpassing household electricity – technology to second place in terms of importance in the shopping cart on duty Route, only behind fashion – accessories.
Notably, FMCG revenue growth to more from increasing production price, showing that the demand for online shopping essential goods is gradually forming and stable, according to Mr. Nguyen Phuong Lam, Director of Market Analysis in Younet ECI. “The convenience, attractive incentive programs and access to a variety of products have changed shopping behavior,” Mr. Lam said.
Dramatic future
“E-Economy Sea 2024” forecasts that Vietnam’s e-commerce market size can reach US $ 63 billion in 2030, equivalent to approximately 19% in the coming years. Mr. Pham Trong Chinh, Leader of high -quality Vietnam Association of Vietnam Association and Business Research Center (BSA) optimistic about Vietnam’s online retail industry.
“E-commerce growth of 15-20% per year is completely feasible, is extremely good index,” he said.
The ability to grow two numbers has witnessed many dramatic competition strategies. Domestic, after decades of penetration with 50 million adult users and YouTube encroached on e -commerce.
From November 2024, they allow channels from 10,000 Subscribe (register) to sell Shopee’s products. The product owner of the product will receive a commission for the order, called the affiliate marketing (YouTube Shopping Affiliate), part of the ambition of YouTube Shopping in Vietnam.
Ms. Mukpim Anantachai, director of YouTube partnership in Vietnam and Thailand, declares YouTube Shopping is the focus that the background of enthusiasm and focusing on investment in the coming time. Vietnam is one of the first 6 countries of this program, besides the US, Korea, Indonesia, Thailand and India.
Previously, the Affiliate Marketing Front was once stirred by the penetration of Temu e -commerce from China in October 2024. In addition to the price, free shipping, this platform is bold roses for the participants of the Affiliate Marketing.
The “fever” temples only stopped when the platform was required by the Ministry of Industry and Trade in Vietnam. In early December, Temu’s Vietnamese application stopped working but users can still download the English and transactions. The fact that Temu has completely abandoned the Vietnamese market is still unknown.
After the initial fever in cheap price, the market gradually realized that the price of Temu, Shein and domestic floors was not much different. Mr. Pham Trong Chinh explained that the West was unexpectedly with cheap goods, but Southeast Asia was near the Chinese supply, the price was low for a long time.
Therefore, the upcoming war is not anyone can be cheaper but the focus in delivery, entertainment and affiliate marketing. Of these three factors, Shopee is still “playing” money for “freeship” incentives, Tiktok Shop recently launched more “freeship” codes to increase competition. With affiliate marketing, Shopee – YouTube handshakes can be a factor to maintain market heat.
Another front is Vietnamese brands, domestic sales houses will have a place in the lucrative e -commerce cake. Recently, the Government has abandoned the VAT exemption policy with small value imported goods sold through courier from February 18. “The removal of tax exemption regulations to ensure fairness and encourage the consumption of domestic production,” the Ministry of Finance said.
Brands and domestic sales houses also need to be proactive, in the context of the “hot” livestream, CEO Veena Media said that it is simple to attract views is no longer a deciding factor for success.
“To build a solid and sustainable position, brands need to be persistent to invest in product quality and creativity in the content strategy, as well as optimally exploit advanced technologies,” she recommended .