E-commerce up 48% to hit more than $5.6 bln

The e-commerce industry of Vietnam has increased by 48% from $3.798  to reach over $5.645 billion, according to the latest report on e-commerce trend of Vietnam in 2024, released by Q&Me Vietnam Market Research.

The highest growth was seen among sports & travel, and home appliance with 73% and 64%, respectively, according to the report.

However, beauty and home & lifestyle are among the top categories for online shopping with revenue reaching $1.2 billion and 1.05 billion, respectively.

Nearly 50% of fashion and beauty/health product buyers consider online as their main shopping channel, the report says.

It shows that price-related factors (pricing, promotion) are the biggest factors to use online shopping.

On average, a Vietnamese spends between VND300,000-500,000 ($11.78-19.6) per month for online shopping, according to the report.

Shopee is the e-commerce platform that has attracted the largest number of users. It is selected for the price / promotion, product variety and quick delivery.

Tiktok Shop has rapidly developed, rising to the second position in terms of both the number of users and the number of frequent users.