Ecommerce Market in Vietnam Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Vietnam Ecommerce Market Report is Segmented Into B2C E-Commerce (Beauty and Personal Care, Consumer Electronics, Fashion and Apparel, Food and Beverage, Furniture and Home) and B2B E-Commerce. The Market Size and Forecasts are Provided in Terms of Value in USD for all the Above Segments.

Vietnam Ecommerce Market Size

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Vietnam E-commerce Market Summary
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Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 14.70 Billion
Market Size (2029) USD 23.77 Billion
CAGR (2024 - 2029) 10.09 %
Market Concentration Medium

Major Players

Vietnam E-commerce Market Analysis

*Disclaimer: Major Players sorted in no particular order


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Vietnam Ecommerce Market Analysis

The Vietnam E-commerce Market size is estimated at USD 14.70 billion in 2024, and is expected to reach USD 23.77 billion by 2029, growing at a CAGR of 10.09% during the forecast period (2024-2029).

In Vietnam, E-Commerce revenue continues to surge with the formation of new markets and the opportunities for growth for established markets. With their growing middle classes and lagging offline shopping infrastructure, East and Southeast Asia are expected to drive this trend.

  • The Vietnamese government actively promotes a cashless society to lower cash transactions to less than 10% of total payments and reach 70% of the banking population. Recently the Vietnamese government approved a national e-Commerce growth master plan. This master plan perfectly aligns with current Vietnamese Fourth Industrial Revolution strategies and policies, with the overarching goal of establishing a digital economy and fostering national digital transformation.
  • Moreover, the plan intends to encourage enterprises and consumers to use e-commerce, close the gap between major cities and localities, create a sustainable virtual market, and increase cross-border online trading. The Vietnamese government, in particular, is actively promoting a cashless society, intending to reach a cashless payment rate of over 50% by 2025.
  • Vietnam has one of the most favorable legal environments in the ASEAN region. Five of the six pieces of legislation intended to regulate e-commerce activity have been passed in the country. The e-commerce sector has dominated the recent development of the country's transportation, distribution, and fulfillment services ecosystem.

Vietnam Ecommerce Market Trends

Rise of Digital Payments Across the Vietnam

  • The growth of Vietnam's digital payments sector is fueled by the expansion of e-commerce as an alternative to traditional brick-and-mortar sales. Increased desire for contact-free and cashless transactions has been facilitated by improved acceptance of digital financial technology (fintech) and the COVID-19 pandemic. Cash payments account for a significant share of all e-commerce transactions in Vietnam. Still, this figure is anticipated to decline by 2025 with increasing interest in digital payment modes.
  • Moreover, the increasing use of digital payment mechanisms in Vietnam is fueled by the country's burgeoning e-commerce economy and positive regulatory reforms. E-wallets have the most significant growth estimates of all payment modes over the forecasted period compared to other digital payment methods.
  • The rapid expansion of Vietnam's 4G infrastructure has reduced mobile internet costs. The country's mobile phone base has grown to over 100 million registered subscriptions because of affordable mobile internet access. One of the pillars for the quick adoption of e-commerce and digital payments in Vietnam has been many internet users and cheap internet connections.
  • According to a survey on online shopping behavior done by Rakuten in June 2022, 71% of respondents in Vietnam said they had paid for their online purchases with cash on delivery in the previous three months. As reported by 54% of the respondents, mobile wallets were the second most popular payment option for online shopping.
Vietnam E-commerce Market - Leading payment methods for online shopping among consumers in Vietnam, in percentage, as of June 2022

Rise in Regional E-commerce Platforms

  • Vietnam's ability to foster e-commerce is demonstrated by the success of various Vietnamese-origin e-commerce platforms, such as Tiki, Sendo, and Thegioididong. These platforms have grown into big e-commerce powerhouses due to investments from Japan, Germany, the United States, South Korea, China, and Singapore.
  • Post is a crucial piece of infrastructure that is strongly related to e-commerce. Postal services for e-commerce are gradually replacing traditional delivery services due to the phenomenal growth of e-commerce. Foreign e-commerce platforms frequently favor international postal and delivery companies. Foreign exchanges dominate the industry, placing significant risks and challenges on domestic postal and delivery enterprises. Foreign e-commerce exchanges also expand and enhance their postal businesses. For instance, invested VND 1,000,000 Million(40.57) in Tiki.
  • Furthermore, merchants should prioritize mobile commerce to beat the domestic competition: only 19% of local merchants' websites are mobile-friendly. According to JP Morgan, apps are preferred over browsers for online purchases in Vietnam, accounting for 62% of all transactions.
  • The volume of visitors demonstrates the dominance of foreign e-commerce platforms in the market. According to February 2022, the Ministry of Information and Communication data shows 78.5 million users on Shopee, 14.8 million on Lazada, 14.1 million on Tiki, and 12.7 users on Good Market (Vietnam).
Vietnam E-commerce Market - Total number of visits on popular Vietnamese e-commerce platforms on a monthly basis, in million, As of February 2022

Vietnam Ecommerce Industry Overview

The is one of the key players in the Vietnamese e-commerce market. Other major players include and shopee. vn. These three major players dominate the studied market. These are popular sites to decide which would best fit users' items regarding visitor volume, competition, and the types of e-commerce consumers they attract.

  • January 2024 - Vietnam is recognized as one of the top 10 countries in the world with the highest e-commerce growth rates, leading Southeast Asia. Vietnam's largest e-commerce platforms are expected to continue their strong growth in 2024, with revenue and sales volume exceeding VND310 trillion (USD12.5 billion), a 35% increase from 2023.

Vietnam Ecommerce Market Leaders

  1. FPT Digital Retail JSC

  2. Shopee Co., Ltd.,

  3. Mobile World Investment JSC

  4. Lazada Southeast Asia

  5. Tiki Corporation

*Disclaimer: Major Players sorted in no particular order

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Vietnam Ecommerce Market News

  • June 2023 - According to data recently published by the Vietnam E-commerce and Digital Economy Agency (Ministry of Industry and Trade), the scale of Vietnam's retail e-commerce market in 2023 continued to increase by 25% compared to the previous year, estimated to reach USD 20,5 billion, equivalent to 7.5% of the total revenue from consumer goods and services nationwide. 

Vietnam Ecommerce Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness-Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers/Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Key market trends and share of E-Commerce of Total Retail sector

    4. 4.4 Impact of COVID-19 on the E-Commerce sales


    1. 5.1 Market Drivers

      1. 5.1.1 Formal E-Commerce Platforms Grow alongside Social Commerce

      2. 5.1.2 Consumers are Driven to Online Platforms for Grocery needs by Wider Assortment and Fast Delivery

    2. 5.2 Market Challenges

      1. 5.2.1 Low Non-cash Payment Usage

      2. 5.2.2 Security Risks and Concerns over Electronic Payment

    3. 5.3 Analysis of key demographic trends and patterns related to the E-Commerce industry in Vietnam (Coverage to include Population, Internet Penetration, E-Commerce Penetration, Age & Income etc.)

    4. 5.4 Analysis of the key modes of transaction in the E-Commerce industry in Vietnam (coverage to include prevalent modes of payment such as cash, card, bank transfer, wallets, etc.)

    5. 5.5 Analysis of cross-border E-Commerce industry in Vietnam (Current market value of cross-border & key trends)

    6. 5.6 Current positioning of Vietnam in the E-Commerce Industry in Asia-Pacific


    1. 6.1 By B2C E-Commerce

      1. 6.1.1 Market size (GMV) for the period of 2017-2027

      2. 6.1.2 Market Segmentation - By Application

        1. Beauty & Personal Care

        2. Consumer Electronics

        3. Fashion & Apparel

        4. Food & Beverage

        5. Furniture & Home

        6. Others (Toys, DIY, Media, etc.)

    2. 6.2 By B2B E-Commerce

      1. 6.2.1 Market size for the period of 2017-2027


    1. 7.1 Company Profiles

      1. 7.1.1 Shopee Pte. Ltd.

      2. 7.1.2 Lazada Vietnam

      3. 7.1.3 TiKi Corporation

      4. 7.1.4 Cho Tot

      5. 7.1.5 Sendo Vietnam

      6. 7.1.6 The Gioi Di Dong

      7. 7.1.7 Dien May Xanh

      8. 7.1.8 FPT Shop

      9. 7.1.9 Cellphone S

      10. 7.1.10 Bach Hoa Xanh

      11. 7.1.11 Dien May Cho Lon

      12. 7.1.12 Hoang Ha Mobile

      13. 7.1.13 Meta

      14. 7.1.14 Nguyen Kim

      15. 7.1.15 Mediamart

      16. 7.1.16 Viettel Store

    2. *List Not Exhaustive


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Vietnam Ecommerce Industry Segmentation

E-commerce involves establishing connections and selling products, services, and information using computer communication networks. E-commerce often refers to the online trade of goods and services, which denotes a larger scale of economic activity. Internal organizational transactions that enable B2B and B2C transactions are included in e-commerce.

The Vietnam E-commerce market is segmented by b2c e-commerce (beauty and personal care, consumer electronics, fashion and apparel, food and beverage, furniture and home, Others [Toys, DIY, Media, etc.]), B2B e-commerce. The market sizes and forecasts are provided in terms of value in (USD) for all the above segments.

By B2C E-Commerce
Market size (GMV) for the period of 2017-2027
Market Segmentation - By Application
Beauty & Personal Care
Consumer Electronics
Fashion & Apparel
Food & Beverage
Furniture & Home
Others (Toys, DIY, Media, etc.)
By B2B E-Commerce
Market size for the period of 2017-2027
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Vietnam Ecommerce Market Research FAQs

The Vietnam E-commerce Market size is expected to reach USD 14.70 billion in 2024 and grow at a CAGR of 10.09% to reach USD 23.77 billion by 2029.

In 2024, the Vietnam E-commerce Market size is expected to reach USD 14.70 billion.

FPT Digital Retail JSC, Shopee Co., Ltd.,, Mobile World Investment JSC, Lazada Southeast Asia and Tiki Corporation are the major companies operating in the Vietnam E-commerce Market.

In 2023, the Vietnam E-commerce Market size was estimated at USD 13.22 billion. The report covers the Vietnam E-commerce Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Vietnam E-commerce Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Social commerce is the fastest-growing segment in Vietnam E Commerce Market, due to its seamless integration with popular social media platforms and convenience.

The key opportunities for foreign business in the Vietnam Ecommerce Market are: a) Access to a growing consumer base b) Diverse product demand, and c) Government support for e-commerce development

E Commerce in Vietnam Industry Report

The Vietnam e-commerce market is on a robust growth trajectory, fueled by increased internet and mobile penetration, a shift towards online shopping, and digital payment advancements. Government digitization initiatives and a tech-savvy young population further propel this growth. Technologies like AI and machine learning enable personalized marketing, while logistics improvements offer real-time tracking and same-day delivery, enhancing consumer convenience. The market, segmented into B2C and B2B e-commerce, spans various applications and shows comprehensive growth across the country. Supported by favorable policies and technological advancements, the competitive landscape is dynamic, with new entrants and the expansion of existing players. Mordor Intelligence™ Industry Reports provide an in-depth analysis, including market share, size, revenue growth rate, and a forecast outlook, available as a free report PDF download for a detailed industry overview.

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Ecommerce Market in Vietnam Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)