The Ministry of Industry and Trade Forecasts Revenue of Vietnam’s Top 5 E-commerce Platforms
- Digital
- 14:01 22/01/2024
DNHN - The Ministry of Industry and Trade’s forecast indicates an optimistic 2024 as online consumption becomes a common habit. This will continue to drive revenue on online retail platforms, posing new challenges and opportunities for businesses operating.
The Ministry of Industry and Trade has just released a positive forecast for the country’s e-commerce market outlook in 2024. Accordingly, revenue and sales volume on online retail platforms continue to surge, potentially reaching 650 trillion VND.
In 2023, Hanoi recorded e-commerce revenue of over 76,600 billion VND, accounting for a 33% market share, while Ho Chi Minh City reached 51,230 billion VND, holding a 22% market share. Both localities witnessed impressive growth, with increases ranging from 30% to over 40%.
The total revenue in 2023 of the five largest e-commerce platforms in Vietnam, including Shopee, Lazada, Tiki, Sendo, and Tiktok Shop, increased by 52.3% year-on-year. This is the strongest growth rate in the past three years, laying the foundation for the sustainable development of the market.
The Ministry of Industry and Trade’s forecast indicates an optimistic 2024 as online consumption becomes a common habit. This will continue to drive revenue on online retail platforms, posing new challenges and opportunities for businesses operating in this sector.
Furthermore, the Ministry of Industry and Trade is also committed to strengthening measures to protect consumer rights, enhancing regional connectivity, and narrowing the gap between localities and regions. This aims to build a healthy, transparent, and safe e-commerce environment while supporting the comprehensive development of the e-commerce industry in Vietnam.
P.V
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