According to a report by e-commerce data platform Metric, the gross merchandise value (GMV) of the "big four" multi-category online retail platforms Shopee, TikTok Shop, Lazada, and Tiki reached 202,300 billion VND in the first half of the year, a 41.52% increase compared to the same period in 2024.
Among them, TikTok Shop led the growth rate, reaching 69%, pulling its market share up to 39% from 29% in the first half of 2024. As a result, TikTok Shop significantly narrowed the gap with the "king" Shopee. According to statistics, the "orange platform" saw sales growth of 16.12% in the same period, with its market share decreasing to 58%.
Overall, Shopee and TikTok Shop continued to consolidate their dominant position with 97% of the market. Meanwhile, Lazada and Tiki saw their sales decrease by 48% and 63% respectively in the first half of this year, holding only 3% of the market share.
According to Metric, TikTok Shop's leading growth continues to reflect the trend of consumers increasingly favoring entertainment platforms combined with shopping. "This is a signal for e-commerce platforms to adjust their strategies, especially focusing on investing in content and direct interactive sales," the report recommends.
At the recent TikTok Shop Vietnam Summit 2025, the "runner-up" also confirmed that the shopping model combined with entertainment (shoppertainment) continues to prove effective. Accordingly, affiliate marketing and two formats, livestream and short videos, recorded revenue growth of 2.3 times and 1.9 times respectively in 2024.
Besides shoppertainment, Metric noted that official stores (shop mall) have been the main growth driver for e-commerce platforms recently. Shop mall accounts for only 3.4% of the total number of stores on Shopee and TikTok Shop but contributes up to 28.7% of total sales in the first half of the year.
Compared to the same period in 2024, sales growth from shop mall on Shopee and TikTok Shop was more than 63% and 107% respectively. "This reflects the increasingly demanding consumer psychology, emphasizing peace of mind when shopping in the context of widespread low-quality goods," Metric assessed.
Forecasting the market for Quarter III, Metric expects sales to grow by 21.6% compared to Quarter II, with the GMV of the 4 platforms reaching 122,800 billion VND. The driving force comes from a series of events such as sales on 8/8, 9/9, Mid-Autumn Festival, and the back-to-school season, which are expected to boost demand in the education, gifts, and food sectors.
The platforms are likely to increase investment in logistics and optimize user experience through incentive programs focused on essential goods, thereby contributing to maintaining stable purchasing power throughout Quarter III, according to Metric.
At a recent forum, Nguyen Lam Thanh, a representative of TikTok Vietnam, also pledged long-term investment in the Vietnamese market through developing operational optimization features for sellers, security solutions for users, as well as community programs beneficial to the industry.
Previously, in a move to enhance customer experience, Shopee and Lazada entered the free shipping race. In early June, Shopee announced free shipping for all orders (except for very bulky orders, express delivery, and other special cases). Similarly, from 1/7, Lazada launched a free shipping policy for orders with a total weight of under 15 kg for official stores (LazMall).
Vien Thong
