Market research

VIETNAM
E-COMMERCE
PLATFORMS
Q3/ 2023 and Forecast for Q4/ 2023

* Statistics from 01/01/2023 to 30/09/2023

INTRODUCTION
In the first 9 months of 2023, the domestic market continues to be the bright spot
in the economic scene with astonishing growth level. According to the General
Statistics Office of Vietnam, the total of retail sales and consumer services is
approximately 4,567,835 billion VND, increased by 9.7% compared to the same
period in 2022. Also in this quarter, numerous integrated activities between
ministries, sectors, locals,… and E-commerce platforms like Shopee, Lazada, Tiki,…
has helped thousands businesses in approaching product distribution methods on
E-commerce platforms. The Vietnam E-commerce and Digital Economy Agency
organized a lot of lessons, trainings on E-commerce knowledge for government
officials, businesses all over the country with the companionship of E-commerce
experts, including Metric.
According to analysts' forecast, the domestic market plays a critical role in
economic development during the last 3 months of 2023, despite the difficulties.
As announced by the regulatory units, E-commerce, together with activities that
encourage online shopping, will continue to be promoted.

This report on E-commerce platforms in Vietnam Q3/ 2023 is independently

conducted by Metric based on public data that is not influenced by any third
parties. In this report, statistics have excluded data on 2 following product
categories: listings that are services or gifts with abnormal sales, which do not
match feedbacks from consumers and listings with ghost orders.

This objective market information is the basis for businesses and sellers to analyze
so that they can adjust their sales & marketing strategies for the most vibrant
shopping season in 2023.
2
TABLE OF CONTENT
I- E-COMMERCE PLATFORMS OVERVIEW 4

II- E-COMMERCE PLATFORMS ANALYSIS Q3/ 2023 8

III- ANALYSIS OF POTENTIAL CATEGORIES 19

IV- MARKET FORECAST FOR Q4/2023 44

V- CONCLUSION 51

3
OVERVIEW OF
E-COMMERCE PLATFORMS

1. Outstanding figures Q3/ 2023 5

2. Noticable figures in the first 9 months of 2023 7

4
 OUTSTANDING FIGURES Q3/ 2023

• Statistics from:

63 thousand 443 thousand

01/07/2023 – 30/09/2023.

Billion VND shops • Data collected on 5 platforms:

Total revenue on Total number of established Shopee, Lazada, Tiki, Sendo,
E-commerce platforms shops with sales on E-commerce
platforms Tiktok Shop.

• All collected data has excluded

ghost orders or gifts.

602 million
 54,42%
Product units
Compared to revenue in
Number of units successfully the same period of 2022
delivered via E-commerce

5
 OUTSTANDING FIGURES Q3/ 2023

E-commerce platforms revenue

E-commerce platforms revenue Q3/ 2023
Q3/ 2022

3% 3%
16%
1%

21%

+54,42% 14%

72%
69%

Shopee Lazada Tiki Sendo Tiktok

Shopee Lazada Tiki

* The new version of Metric.vn applies fake products filter with specific coefficients for every platform instead of a
common coefficient for all platforms

6
 REMARKABLE FIGURES IN THE FIRST 9 MONTHS OF 2023

163 thousand 586 thousand 1576 million  58%

Billion VND shops Product units
Total revenue on Number of established Number of units successfully Compared to revenue in
E-commerce platforms shops with sales delivered via E-commerce the same period of 2022

The total revenue of the first 9 months of 2023 is 7%, which is more than 10 thousand billion VND, higher than the
whole 2022. TikTok Shop contributes significantly to this growth with its total revenue being approximately 25
thousand billion VND.
* TikTok Shop had not been launched during the first 9 months of 2022, for the rest 4 platforms Shopee, Lazada, Tiki,
Sendo, the growth rate is 33% compared to the same period last year.

• Statistics from 01/01/2023 to 30/09/2023

• Data collected on 5 platforms: Shopee, Lazada, Tiki, Sendo, Tiktok Shop.
• All data collected has excluded ghost orders and gifts.

7
E-COMMERCE PLATFORMS ANALYSIS
Q3/ 2023

1. E-commerce platforms market shares 9

2. Monthly revenue statistics 10

3. Product categories 11

4. Price segmentation 14

5. Regions & shop types 15

6. Outstanding brands and shops 17

8
 VALUE MARKET SHARE OF E-COMMERCE PLATFORMS

E-commerce platforms revenue E-commerce platforms revenue

Q2/ 2023 Q3/ 2023

1% 16%
1% 18%

18%
+22,66% 14%
63%
69%

Shopee Lazada Tiki Sendo Tiktok

Q3/ 2023 witnessed a rapid growth in revenue of the top 5 E-commerce platforms in Vietnam, which is 22.66%. This
is a bright spot considering the fairly unstable patterns of the economy.

Compared to Q2/ 2023, Shopee continues to maintain stability as its share increased by 6%. TikTok Shop keeps on
doing well, though its share was slightly reduced. Reality has shown that this platform’s revenue rose by 5%
compared to the previous 3 months. With a vast number of promotional campaigns coming up, it can be predicted
that these platforms will continue to grow in revenue during Q4/ 2023.

9
 DETAILS OF MONTHLY REVENUE GROWTH

Revenue Units sold Established shops with sales

(billion VND) (thousand products) (shops)

Shopee 43.713 459.147 229490

Tiktok shop 10.122 83.316 87780

Lazada 8.768 57.178 105720

Tiki 599 2.252 13220

Sendo 29 159 6960

Monthly revenue of E-commerce platforms: first 9 months in 2023

25,000
Billion VND

20,000

15,000

10,000

5,000

-
T1.2023
01.2023 T2.2023
02.2023 T3.2023
03.2023 T4.2023
04.2023 T5.2023
05.2023 T6.2023
06.2023 T7.2023
07.2023 T8.2023
08.2023 T9.2023
09.2023

Shopee Lazada Tiki Sendo Tiktok

10
STATISTICS BY PRODUCT CATEGORIES

E-commerce platforms’ revenue by product categories Q3/ 2023

Làm đẹp
Beauty
Nhà Cửa -&Đời
Home Sống
lifestyle
Thời Trang
Women’s Nữ
fashion
Điện
Home Gia Dụng
appliances
Điện Thoạiphones
Mobile & Máy Tính Bảng
& tablets
Moms &Mẹ & Bé
babies
Sức Khoẻ
Healthcare
Thể Thao
Sports & Du Lịch
& travelling
Bách Hoá - Thực Phẩm
Groceries
Thời Trang
Men’s Nam
fashion
Cars &Ômotorbikes
Tô - Xe Máy
Sound
Thiết devices
Bị Âm Thanh
Women’s shoes
Giày Dép Nữ
Laptops
Máy Tính Laptop & office
& Thiết devices
Bị Văn Phòng
Men’s
Giày shoes
Dép Nam
Thời Kids’
Trangfashion
Trẻ Em
Fashion
Phụ Kiệnaccessories
Thời Trang
ĐồToys
Chơi
Stationery
Văn Phòng Phẩm
Pets
Chăm Sóc Thú Cưng

- 4,000 8,000 12,000

Shopee Lazada Tiki Sendo Tiktok Billion VND

11
 STATISTICS BY PRODUCT CATEGORIES

E-commerce platforms’ units sold by product categories Q3/ 2023

Nhà
HomeCửa
& -lifestyle
Đời Sống
Làm Đẹp
Beauty
Thời fashion
Women’s Trang Nữ
Văn Phòng Phẩm
Stationery
Bách Hoá -Groceries
Thực Phẩm
Phụ Kiện
Fashion Thời Trang
accessories
Điện Thoại
Mobile & Máy&Tính
phones Bảng
tablets
Sức Khoẻ
Healthcare
Sports & travelling
Thể Thao & Du Lịch

Men’s fashion
Thời Trang Nam
Moms& babies
Mẹ & Bé
Chăm Sóc ThúPets
Cưng
Kids’
Thời fashion
Trang Trẻ Em
HomeĐiện
appliances
Gia Dụng
Cars & motorbikes
Ô Tô - Xe Máy
Toys
Đồ Chơi
Women’s
Giày shoes
Dép Nữ
Women’s
Túibags
Ví Nữ

- 20,000 40,000 60,000 80,000 100,000 120,000

Thousand products
Shopee Lazada Tiki Sendo Tiktok

12
 STATISTICS BY PRODUCT CATEGORIES

Top 5 product categories with highest Top 5 product categories with highest
revenue on Shopee revenue on Lazada

Thiết Home
Bị Điện Gia Dụng
appliances Giày dép & Quần áo nữ
Womenswear
Mobile phones & phone accessories Menswear
Thời Trang
Women’s Nữ
fashion Bách hóa
Groceries
Home & lifestyle Small home appliances
Beauty
Sắc Đẹp Làm đẹp
Beauty

- 10,000 - 1,000
Billion VND Billion VND

Top 5 product categories with highest Top 5 product categories with highest
revenue on Tiki revenue on TikTok Shop

Làm Đẹp
Beauty - Sức Khỏe
– Healthcare TrẻInfants & pregnancy
sơ sinh & thai sản
Home appliances Food & beverages
Điện Thoạiphones
Mobile - Máy Tính Bảng
& tablets Trang phục nam & Đồ lót
Menswear & Underwear
Toys – Moms & babies Womenswear & underwear
Nhà
Tiki Sách
book Tiki
store Chăm& sóc
Beauty sắc đẹp
personal care&…

- 100 - 2,000
Billion VND Billion VND

13
 STATISTICS BY PRICE SEGMENTS

11% 100.000₫ - 150.000₫

10%
150.000₫ - 200.000₫ The lower price segments remained
15% 200.000₫ - 350.000₫ prevalent in Q3/ 2023.
64%
Phân khúcsegments
Other giá còn lại

Revenue by price segments on E-commerce platforms Q3/ 2023

10,000
9,000
8,000
7,000
6,000
5,000
4,000
3,000
2,000
1,000
-
(Billion VND)

Shopee Lazada Tiki Sendo Tiktok

14
STATISTICS BY REGIONS

Top 10 locations with highest revenue on

E-commerce platforms in Q3/ 2023 Sales (million VND)
(triệu VND)

Hà Nội 20925.57
TP. Hồ Chí Minh
4%
6% Nước ngoài

Bắc Ninh

Nam Định
51% Hải Dương 1.27
35% Hưng Yên

Bình Dương

Đà Nẵng

Thái Nguyên

Location Revenue (million VND)

Hanoi 20.9 thousand

Ho Chi Minh City 14.2 thousand
Overseas 2.5 thousand
Bac Ninh 1.78 thousand
Nam Dinh 428.98
15
 STATISTICS BY SHOP TYPES

Market shares by shop types Regular shop’s value market share in Q3/ 2023
dropped by 6% compared to the same period last
year. However, regular shops’ total revenue still
increased by 10 thousand billion VND, which is
approximately 34.37%.
30%
Shop thường
Regular shops
Mall Shops saw a 6% increase in market share and
MallMall
Shop shops 80.86% in actual revenue compared to the same
period last year. The shift towards Mall Shops has
70% proven to strengthen prestige and boost revenue.

Number of regular shops: 326,022

Number of Mall shops: 29,765

Shop type Growth Revenue Q3/ 2023 Revenue Q3/ 2022

38,812 billion VND 28,884 billion VND

Regular shops + 34%
70% 76%

16,761 billion VND 9,268 billion VND

Mall shops + 81%
30% 24%

* Statistics from 3 platforms: Shopee, Lazada, Sendo.

16
STATISTICS BY BRANDS

Top 10 brands with highest revenue Top 10 brands with highest sales
Q3/ 2023 (units sold) Q3/ 2023
apple
deli
samsung focallure
xiaomi 6% deliz
4%3% 7%
4%
4% ecovacs 29% thiên long
31% 7%
4%
ensure banobagi
5% 7%
5% sunhouse inochi
7% baseus
fatz baby
7% 14%
16% vinamilk
oppo
24% 7% 9% việt nhật plastic
lg
vaseline
philips

The 10 brands with highest revenue make The 10 brands with highest sales make up
up 12.77% value market share of the 2.49% volume market share of the whole
whole E-commerce market in Q3/ 2023 E-commerce market in Q3/ 2023

*Statistics for 4 platforms: Shopee, Lazada, Tiki, Sendo. Proportions shown on the chart is among top 10 brands.

17
 STATISTICS BY SELLERS

List of shops with highest revenue, shops with highest sales in Q3/ 2023 on the 4 platforms including:
Shopee, Lazada, Tiki, Sendo and their rankings compared to those of Q2/ 2023.

Top 10 shops with highest revenue Top 10 shops with highest sales (units sold)

Apple Flagship Store 0 Unilever Việt Nam_Health & Beauty 0

ShopDunk Official Store 2 Love Studio 7

Love Studio 38 FOCALLURE.vn -1

Viettel Store - AAR 39 GoLaNa Shop -1

Gian Hàng Ensure Chính Hãng 5 L’Oreal Paris Official Store 0

Unilever Việt Nam_Health & Beauty -1 Lady Quảng Châu 0

SAMSUNG OFFICIAL STORE 2 Hasaki Official Store 2

Tiki Trading -2 Unilever – Chăm sóc gia đình 5

Apple Flagship Store -6 CHOU CHOU MALL 12

Vinamilk-Giấc Mơ Sữa Việt -3 Thời trang nữ Gemma 24

18
DETAILED ANALYSIS OF POTENTIAL
RISING PRODUCT CATEGORIES IN Q3/2023

1. Beauty products 20

2. Home & lifestyle products 26

3. Women’s fashion products 32

4. Mobile phones & tablets products 38

19
 DETAILED ANALYSIS OF POTENTIAL RISING PRODUCT CATEGORIES Q3/ 2023

Beauty products

20
OVERVIEW AND MARKET SHARES OF E-COMMERCE PLATFORMS

Beauty products’ market share by

platforms REVENUE ESTABLISHED SHOPS

Shopee
8,690 WITH SALES

billion VND 85,721

Lazada
25%

Tiki
UNITS SOLD GROWTH

10% 73.4 million vs same period in 2022

+ 63%
65% Sendo
units
Tiktok

Beauty products’ revenue in the first 9 months of 2023

3,500

3,000

2,500

2,000

1,500

1,000

500

-
T1.2023
01.2023 T2.2023
02.2023 T3.2023
03.2023 T4.2023
04.2023 T5.2023
05.2023 T6.2023
06.2023 T7.2023
07.2023 T8.2023
08.2023 T9.2023
09.2023
Billion VND

Shopee Lazada Tiki Sendo Tiktok

21
 STATISTICS BY PRODUCT GROUPS

Beauty product groups’ revenue on E-commerce platforms in Q3/ 2023

Chăm Facial
sóc dacare
mặt

Trang điểm
Makeup

Tắm & chăm

Shower sóc cơcare
& body thể

Chăm sóc
Hair tóc
care

Dụng cụ làm
Beauty đẹp
tools

Chăm sóc cá care

Personal nhân

Chăm sóc nam

Men giới
care

Nước hoa
Perfumes

Chăm sóc tay chân

Hands, móng
feet & nails

BộBeauty
sản phẩm làm set
product đẹp

Làm đẹp khác

Others

- 200 400 600 800 1,000 1,200 1,400

Billion VND

Shopee Lazada Tiki Sendo

22
 STATISICS BY SHOP TYPES

Beauty products’ value market

share by shop types

MALL SHOPS REGUALR SHOPS

34%
2,959 billion VND 5,731 billion VND
Shop Mall
Shop mall
Shop thường
Regular shop
66%
+55% vs same +68% vs same
period in 2022 period in 2022

*Statistics for Shopee, Lazada, Sendo.

Top 10 brands with highest revenue in the Beauty products category in Q3/ 2023

23
 STATISTICS BY PRICE SEGMENTS & OUTSTANDING PRODUCTS

Revenue by price segments and outstanding

products in the Facial Care group

< 10K Moisturizing gel Rose Water Acne/oil treat

10K - 50K

50K - 100K

100K - 200K
Minerals spray Moisturizing serum Face wash
200K - 500K

500K - 1M

1-2M

2-5M

>5M Face cleaning gel Body care liquid Moisturizing serum

- 200 400 600

Billion VND
Shopee Lazada Tiki Sendo Sunscreen Stem cells Masks

24
STATISTICS BY PRICE SEGMENTS & OUTSTANDING PRODUCTS

Revenue by price segments and outstanding

products in the Makeup group

< 10K Matte lip cream Makeup removal Cushion

10K - 50K

50K - 100K

100K - 200K Mascara Primer Setting Spray

200K - 500K

500K - 1M

1-2M

2-5M Lip balm Lip gloss Deep cleaner

- 100 200 300

Billion VND

Shopee Lazada Tiki Sendo Eyeliner Blusher Concealer

25
 DETAILED ANALYSIS OF POTENTIAL RISING PRODUCT CATEGORIES Q3/ 2023

Home & lifestyle

products

26
 GROWTH OF THE POTENIAL RISING CATEGORY

Home & lifestyle products’ market share

by platforms REVENUE ESTABLISHED
SHOPS WITH SALES
Shopee 8,095
1% 8%
Lazada billion VND 138,068
16%
Tiki
UNITS SOLD GROWTH
Sendo
Vs same period in 2022*
75% Tiktok 106 million
units + 75%

* Growth rate calculated

Home & lifestyle products’ revenue on E-commerce platforms: first 9 for 5 platforms: Shopee,
months of 2023 Lazada, Tiki, Sendo,
TikTok Shop
3,000
With TikTok Shop’s
2,000
revenue excluded, the
1,000 growth rate becomes
- 63% compared to the
T1.2023
01.2023 T2.2023
02.2023 T3.2023
03.2023 T4.2023
04.2023 T5.2023
05.2023 T6.2023
06.2023 T7.2023
07.2023 T8.2023
08.2023 T9.2023
09.2023 same period in 2022, as
Billion VND

TikTok Shop’s data is

Shopee Lazada Tiki Sendo Tiktok
only collected since
09/2022.

27
 STATISTICS BY PRODUCT GROUPS

Home & lifestyle product groups’ revenue on E-commerce platforms in Q3/ 2023

Nội thất
Furniture
Dụng cụ &&Thiết
Tools bị tiện ích
convenience
Dụng cụ nhà bếp
Kitchenware
Dụng cụ chămHome
sóc nhà cửa
care
Đồ dùng furniture
Bedroom phòng ngủ
Trang
Housing trí nhà cửa
decorations
ĐồDinnerware
dùng bàn ăn
Lights
Đèn
Shower
Đồ dùng phòng tắm
Outdoor & gardening
Ngoài trời & Làm vườn
Household organization
Sắp xếp nhà cửa
Home
Chất khử mùi fragrance
làm thơm nhà
Family
Bảoprotection
hộ gia đình
Others
Nhà cửa - Đời sống khác
Đồ thờReligious
cúng đồ&phong
worship
thủy
Homesóc
Chăm supplies
nhà cửa

- 500 1,000 1,500 2,000

Billion VND
Shopee Lazada Tiki Sendo

28
 STATISTICS BY SHOP TYPES

Home & lifestyle products’ value

market share by shop types
MALL SHOPS REGULAR SHOPS
18%
Mall
Shop shops
Mall 1.426 billion VND 6.669 billion VND
Shop thường
+69% vs same
Regular shops

82%
+104% vs same
period in 2022 period in 2022

*Statistics for Shopee, Lazada, Sendo.

Top 10 brands with highest revenue in the Home & lifestyle category Q3/ 2023

29
 STATISTICS BY PRICE SEGMENTS & OUTSTANDING PRODUCTS

Revenue by price segments and outstanding

products in the Furniture group

< 10K
Student table & chair Gaming chair Bean bag chair
10K - 50K

50K - 100K

100K - 200K

200K - 500K Foldable bed Decorative shelf Closet

500K - 1M

1-2M

2-5M

>5M
Makeup table Ergonomic chair Bedside cabinet

- 200 400 600

Billion VND

Shopee Lazada Tiki Sendo Dining table &

Student chair Sofa bed
chairs set

30
STATISTICS BY PRICE SEGMENTS & OUTSTANDING PRODUCTS

Revenue by price segments and outstanding

products in the Kitchenware group

Hotpot & BBQ Charcoal grill Kitchenware set

< 10K

10K - 50K

50K - 100K

100K - 200K Electronic lunch box Vacuum sealer Rice container

200K - 500K

500K - 1M

1-2M

2-5M

Electronic kitchen
>5M Electronic grill Plates dryer
scale

- 100 200
Billion VND

Shopee Lazada Tiki Sendo Anti-bacteria

Oven Air fryer
cutting board

31
 DETAILED ANALYSIS OF POTENTIAL RISING PRODUCT CATEGORIES Q3/ 2023

Women’s
fashion
products

32
OVERVIEW AND MARKET SHARES OF E-COMMERCE PLATFORMS

Women’s fashion products’ market

share by platforms REVENUE
ESTABLISHED SHOPS

Shopee 4,755 WITH SALES

69,701
27% billion VND
Lazada

Sendo UNITS SOLD GROWTH

5% vs same period in 2022
68% Tiki
72.7 million
Tiktok
units +72%

Women’s fashion products’ revenue on E-commerce platforms: first 9 months of 2023

3,000
2,500
2,000
1,500
1,000
500
-
Billion VND

T1.2023
01.2023 T2.2023
02.2023 T3.2023
03.2023 T4.2023
04.2023 T5.2023
05.2023 T6.2023
06.2023 T7.2023
07.2023 T8.2023
08.2023 T9.2023
09.2023

Shopee Lazada Tiki Sendo Tiktok

33
 STATISTICS BY PRODUCT GROUPS

Women’s fashion product groups’ revenue on E-commerce platforms Q3/ 2023

Áotop
Women’s nữ
Đầm - Váy
Dresses
Women’s
Bộset
nữ
Women’s underwear
Đồ lót nữ
Women’s coat
Áo khoác nữ
Women’sQuần
bottom
nữ
Women’s
Chânskirt
váy
Quần Jeans
jeans
Women’s sleepwear
Đồ ngủ nữ
Woolen & cardigan
Áo len shirts
& Cardigan nữ
Hoodie
Hoodievà
& Áo nỉ nữ
sweater
Women’s
Quần shorts
đùi nữ
Maternity clothing
Đồ Bầu
Women’s socks
Vớ/ Tất nữ
Traditional
Đồ truyềnclothing
thống
Fabrics
Vải
Others
Thời trang nữ khác
ĐồBodysuits
liền thân
Couples’ clothing
Đồ đôi
WeddingVáy
dresses
cưới

- 400 800 1,200

Billion VND

Shopee Lazada Tiki Sendo

34
 STATISTICS BY SHOP TYPES

Women’s fashion value market

share by shop types

MALL SHOPS REGULAR SHOPS

26% Mall
Shop shops
Mall

1,235 billion VND 3,787 billion VND

Regular
Shop shops
thường
74%
+113% vs same +19% vs same
period in 2022 period in 2022

*Statistics for Shopee, Lazada, Sendo.

Top 10 brands with highest revenue in the Women’s fashion category Q3/ 2023

35
 STATISTICS BY PRICE SEGMENTS & OUTSTANDING PRODUCTS

Revenue by price segments and outstanding

products in the Women’s top group

< 50K Baby tee shirt Off-shoulder top Women’s T-shirt

50K - 100K

100K - 200K

200K - 500K Knitted top Babydoll top Croptop shirt

500K - 1M

1M - 2M

2M - 5M

> 5M
Button-up shirt Hoodie croptop Women’s T-shirt

- 200 400

Billion VND
Shopee Lazada Tiki Sendo Cardigan Jacket Short-sleeved
button-up shirt

36
STATISTICS BY PRICE SEGMENTS & OUTSTANDING PRODUCTS

Revenue by price segments and outstanding

products in the Dress group

< 50K Round collar dress Denim Spaghetti strap

pinafore dress dress
50K - 100K

100K - 200K

200K - 500K
Maxi dress Woolen dress Kaki
pinafore dress
500K - 1M

1M - 2M

2M - 5M

> 5M
Long dress Middle-aged Vintage dress
women dress
- 100 200 300

Billion VND

Shopee Lazada Tiki Sendo

Mandarin collar Chiffon dress Jeans dress
dress

37
 DETAILED ANALYSIS OF POTENTIAL RISING PRODUCT CATEGORIES Q3/ 2023

Mobile phones
38
& tablets products
 OVERVIEW AND MARKET SHARES OF E-COMMERCE PLATFORMS

Mobile phones & tablets products’ market

share by platforms REVENUE
ESTABLISHED SHOPS
4,338 WITH SALES
10%
1% Shopee billion VND
6,001
14% Lazada
Tiki UNITS SOLD GROWTH
Sendo vs the same period in 2022
75% Tiktok 6,198 million
+61%
units

Mobile phones & tablets products revenue on E-commerce platforms:

first 9 months of 2023

2,000

1,500

1,000

500

-
T1.2023
01.2023 T2.2023
02.2023 T3.2023
03.2023 T4.2023
04.2023 T5.2023
05.2023 T6.2023
06.2023 T7.2023
07.2023 T8.2023
08.2023 T9.2023
09.2023
Billion VND

Shopee Lazada Tiki Sendo Tiktok

39
 STATISTICS BY PRODUCT GROUPS

Mobile phones & tablets groups’ revenue on E-commerce platforms Q3/ 2023

Điện Thoại
Mobile - Máy&Tính
phones Bảng
tablets

Mobile
Phụ phones
Kiện & tablets
Điện Thoại accessories
và Máy Tính Bảng

Others
Điện thoại & Phụ kiện khác

- 500 1,000 1,500 2,000

Billion VND
Shopee Lazada Tiki Sendo

40
 SHOP TYPES

Mobile phones & tablets value market

share by shop types

MALL SHOPS REGULAR SHOPS

42%
Mall
Shop shops
Mall
1.813 billion VND 2.525 billion VND
Shop thường
Regular shops
58%
+77% vs same +51% vs same
period in 2022 period in 2022
*Statistics for Shopee, Lazada, Sendo.

Top 10 brands with highest revenue in Mobile phones & tablets Q3/ 2023

41
 STATISTICS BY PRICE SEGMENTS & OUTSTANDING PRODUCTS

Revenue by price segments and outstanding

products in the Mobile phones & tablets group

< 50K OPPO Realme GT Samsung

Reno10 Neo5 SE Galaxy A14
50K - 100K

100K - 200K

200K - 500K

500K - 1M
Tecno Camon Vivo V25e Xiaomi Redmi
1M - 2M 20 Pro Note11

2M - 5M

5M - 10M

10M - 15M

15M - 20M

20M - 25M Sony XPERIA 1 Samsung Galaxy Xiaomi 13

MARK V S23 Ultra
- 100 200 300 400

Billion VND
Shopee Lazada Tiki Sendo Oppo Find X5 Pro iPad Pro M2 Samsung Galaxy
Tab S9+

42
STATISTICS BY PRICE SEGMENTS & OUTSTANDING PRODUCTS

Revenue by price segments and outstanding

products in the Phone & tablet accessories group

< 10K
10K - 30K
30K - 50K Camera protector Screen protector Phone case

50K - 75K
75K - 100K
100K - 150K
150K - 200K
Waterproof bag Phone holder Edge protection pad
350K - 500K
200K - 350K
500K - 750K
750K - 1M
1M - 2M
2M - 5M
Stylus Phone charger Power bank
> 5M

- 100 200 300

Billion VND
Power bank battery Tablet case Tripod for phone
Shopee Lazada Tiki Sendo & tablet

43
MARKET FORECAST FOR Q4/ 2023

1. Trends 45

2. General forecast for Q4/ 2023 48

3. Predictions for best-selling products 49

(Out of the potential product categories in Q3/ 2023)

44
 TRENDS
Vietnamese 11/11,
Women’s Day Black Friday, 12/12 Understanding their consumers’ 4 Ds,
20/10 Cyber Monday sellers can boost their revenue during the
last quarter by:
OCTOBER NOVEMBER DECEMBER JANUARY ✓ Constantly update best-selling
products;
Vietnamese ✓ Promote communications to increase
Christmas, Preparing for
Teacher’s Day consumers’ brand recall;
New Year Lunar New Year
20/11
✓ Provide products with a diverse price
According do a Google’s report, consumers’ shopping behavior range and selections;
during festival seasons goes through these 4 Ds: ✓ Provide an integrated shopping
▪ Deliberate: Consumers tend to plan and start their shopping experience;
journey deliberately and not impulsively. They are likely to build a ✓ Take advantage of the platforms’
budget, a shopping list and do some research onto what they’re seasonal campaign.
buying.
▪ Deal – Seeking: With numerous festivals and holidays coming up
Some messages with proven efficiency that
in the next quarter, consumers seek deals to minimize costs.
brands can apply or adapt:
However, product quality is still taken seriously to ensure that
✓ Flaunting (Flexing)
their money is going to the right place.
✓ Interesting/memorable experience
▪ Determined: The closer it is to the New Year, the more of a hurry
consumers are in when it comes to shopping. At the same time, ✓ Coming home for Lunar New Year
they remain willing to spend on gifts for their family, friends or a ✓ Sending love
little bit of treat for themselves. ✓ Dealing with Lunar New Year situations
▪ Devoted: A group of consumers will continue to search and build However, brands need to pay attention to
a shopping list even when the festival season has passed. They word choice, suitable design considering
are devoted to shopping regardless of what period it is in the their target group.
year instead of just shopping by seasons.
45
 TRENDS

The last quarter is expected to witness a

flood of deals, discounts and events from
channels or shopping centres following
holidays, Black Friday, Cyber Monday… In
the world, Chinese cheap-priced shopping
platforms and multi-national transportation
companies are helping China export not only
goods but also its marketplace dynamics like
cheap prices or convenience to different
countries and markets. These cheap Chinese
goods flooding into the domestic market will
significantly influence manufacturers.

However, reality has proven that cheap does

not equal success, especially when
consumers are getting more and more
experienced in online shopping. Cheap
products with undeserving quality will soon
be boycotted with negative ratings. In order
to optimize their sales strategies, businesses
are opting for, or integrating, multiple tactics
to maximize profits and at the same time
not be dragged into the endless battle of
cheap price.

46
 TRENDS

No matter what price you choose for your products, the priority is to
build an efficient pricing strategy. It is not only about putting the
reasonable price that matches the product’s quality and consumers’
budget, but also about setting the right promotion schemes. In
order to build up a business plan, businesses need to closely follow-
up the market and their competitors’ slight changes. Such market
and platform analytic tools as Metric.vn is frequently used by brands
and sellers.
A market report conducted by Forrester Consulting has shown
companies that use data analysis in their business operation do
acquire positive results: 54% of these companies witnessed a direct
increase in revenue and 44% got ahead in the competition.

The trend of brand personalization is one of the selected

direction to improve customer experiences and retention.
Simultaneously developing off-platform channels and physical
selling points together with consumer data collection (name, phone
number, DOB, email,…) will increase the number of touching points,
fostering repeat purchase and customer loyalty. Focusing on the
brand’s core values, a lot of businesses have earned success and
overcome the cheap price pitfall.

47
 GENERAL FORECAST FOR Q4/ 2023

90 thousand billion VND 850 million product units

Total revenue on E-commerce Total units sold
platforms

▪ Total revenue and sales in the whole E-commerce market grew by more than 40% on average compared
to the same period in 2022, yet the number of established shops with sales decreased by 12%.

▪ This proves that small and non-professional sellers will be gradually pushed out of the market, profits will
run into brands and sellers who are professionally invest efforts in their E-commerce sales.

▪ In Q3/ 2023, the total revenue on the 4 platforms Shopee, Lazada, Tiki & Sendo is 55.04 thousand billion
VND, which in Q4/ 2023, with a growth rate of 44%, is expected to reach more than 79.24 thousand
billion VND with 763 million units sold, revenue on TikTok Shop excluded.

▪ With revenue on TikTok Shop included, the total revenue in the market may reach 90 thousand billion
VND with 850 million units sold.

48
PREDICTIONS FOR BEST-SELLING PRODUCTS Q4/ 2023

Potential best-selling products in the Women’s fashion category Q4/ 2023 on E-commerce platforms

Thermal top Winter coat Woolen shirt Hoodie

Fleece jacket stockings socks Wedding dress

49
 PREDICTIONS FOR BEST-SELLING PRODUCTS Q4/ 2023

Potential best-selling products in the Home appliances category Q4/ 2023

on E-commerce platforms

Heater Coffee machine Washing machine & Hot water

dryer machine

Heater, induction stove & Dishwasher Multi-functional cooker Foot washer

gas controller set

50
CONCLUSION
The total revenue on the 5 biggest E-commerce platforms (Shopee, Lazada, Tiki, Sendo, TikTok Shop) in Q3/
2023 increased by 54.42% compared to the same period in 2022 (TikTok Shop’s data was analyzed since Sep
2022). The rankings in value market share remain unchanged from last quarter. Shopee continues leading
the market share. In addition, Shopee’s total revenue increased by 36% since Q2/ 2023. The most
spectacular change belongs to TikTok Shop as this platform’s market share rocketed from 3% to 16% after 1
year.

On all these 5 platforms, Beauty continues to generate the most revenue with more than 8,690 billion VND,
followed by Women’s fashion and Home & lifestyle which are behind by a large amount. Beauty is also the
leading category on Shopee, Lazada and TikTok Shop.

Compared to Q3/ 2022, Q3/ 2023 continues to witness a significant decrease in the number of Established
shops with sales (12%), which means more than 49.5 thousand sellers went out of business. The cause
might evolve from objective factors like the market (unstable economic situation, consumers tighten their
belt, …), changes in policies of platforms or subjective factors (lack of business strategies, lack of
understanding of the market, costs being unmanaged,…). In the future, the E-commerce market will grow
more and more professional to become a major “playground” for many large businesses or businesses with
thorough investment in their sales strategies. Therefore, without careful preparation, especially for small
businesses, being pushed out of the market might be inevitable.

Heading towards Q4/ 2023, with an expected average growth rate of 44%, the total revenue will reach 79.24
thousand billion VND (TikTok Shop excluded. With revenue from TikTok Shop included, the total revenue
might reach 90 thousand billion VND.

51
 ABOUT METRIC

Introduction
Metric is an E-commerce data analytics tool based on the Big Data
THE LARGEST BIG DATA STORAGE WITH
technology helping businesses understand the market and from that AN ACCURACY OF 95%
make deliberate decisions in investing, manufacturing and sales in
Vietnam. 350 million 800 billion
Product data pieces Price levels,
updated daily Sales
Metric data analytics system is frequently updated with no limitations in
the number of product categories or genres on all domestic (Shopee, Tiki,
Lazada, Sendo, TikTok Shop …) and international (Taobao, Tmall, 1688) E-
commerce platforms. THE ONLY THE ONLY
DATA STORAGE DATA STORAGE
Reports on E-commerce platforms are one of Metric’s several efforts in
helping businesses unlock smarter methods and strategies in doing
covers 99% 3 years
E-commerce platforms Vietnam E-commerce
business by analyzing even the smallest changes of sellers, target group
in Vietnam & China platforms data history
and predicting trends & opportunities.

Market research report: A market analytics tool A software solution A software solution
that allows users to build and execute plans or in tracking and in managing
strategies 3 times faster. price control of market data:
products in the product data, prices,
Growth speed
Sales history Price changes
market, that helps competitors, sales,
adjusting and categories that helps
executing strategies manage, execute
Competitors Searching for 5 times faster. and operate 10
Price tracking
tracking trending products
times faster

52
VALUES & BENEFITS
R&D of new products
▪ Values: Source for new, best-selling
products with competitors and
listed price.
▪ Benefits: Helping in R&D for
products in time, optimizing
import/manufacturing costs (with
price listing history known).
Marketing Strategies
▪ Values: Source for data, detailed list of
best-selling products, key successful
products of a brand or seller.
▪ Benefits: Assist in discovering and
learning successful or failed marketing
campaign from a brand or product.
Business & Investment Strategies
▪ Values: Source for market
trends & volume.
▪ Benefits: Making business
decisions based on reality of
the market & business
resources.
Sales optimization (operation)
▪ Values: Source for market
reports, price levels of a product,
competitors, market shares, …
▪ Benefits: Report & deciding on
operational adjustment based on
market reality & competitors.
53
 METRIC INSIGHTS

Metric Insights is a series of blogs about stories of successful and positive E-commerce
business from our own clients/partners that we have a chance to accompany.

Every piece of story brings about different lessons/ perceptions in approaching and
building efficient business strategies based on objective market data.

In this series, brand names have been anonymized to secure identities and business
confidentiality of relevant parties

These case-study articles are updated weekly at: metric.vn/insights/

54
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