E-commerce forecast to hit $3.49 bln in Q3

Total sales on the country's five largest online retail platforms - Shopee, Lazada, Tiki, Sendo and TikTok Shop - are forecast to reach VND88.3 trillion ($3.49 billion) in the third quarter of 2024, up 23.2% year-on-year, according to the e-commerce data platform Metric.

Around 944 million products are estimated to be purchased online during the period, a year-on-year increase of 23.1%.

Products that are forecast to lead revenue growth in the third quarter include beauty items, fashion, stationery and moon cakes.

The total revenue of the country’s top five e-commerce platforms in the first half of the year is estimated at VND156 trillion ($6.13 billion), up 78% year-on-year, according to Metric.

In the second quarter alone, they earned VND85 trillion ($3.33 billion), surging 78% against the same period last year.