This information was mentioned in the third Southeast Asian E-commerce Report recently published by the venture capital firm Momentum Works (Singapore). Compared to 2023, the GMV increased by 15.9%.
Of the 16 billion USD that Vietnamese consumers spent shopping on these four platforms, Shopee and TikTok Shop were the two main channels, accounting for 65% and 28% of total transactions, respectively. Momentum Works noted that the estimated GMV includes all paid orders, even those canceled, refunded, or exchanged.
Compared to the region, Vietnam's transaction value through multi-category e-commerce platforms ranked third along with the Philippines, lower than Indonesia (56.5 billion USD) and Thailand (23.5 billion USD). In terms of growth rate, the Vietnamese market ranked fourth, after Thailand (21.7%), Malaysia (19.5%), and the Philippines (16.8%).
Previously, a report by e-commerce consulting firm YouNet ECI stated that the GMV on the four platforms, Shopee, Lazada, TikTok Shop, and Tiki, reached 13.8 billion USD, a record 40% increase compared to 2023. A more general figure from the Ministry of Industry and Trade estimated that the e-commerce market size last year exceeded 25 billion USD, higher than the 22 billion USD forecast by Google, Temasek, and Bain & Company in the "e-Economy SEA 2024" report.
In 2025, spending on multi-category platforms continues to grow. According to statistics from the e-commerce data platform Metric, in Quarter I, over 950 million products were sold on the four aforementioned platforms, reaching 101,400 billion VND, an increase of over 42% compared to the same period last year.
Data from the Tax Department (Ministry of Finance) also showed positive signals across the online retail market. In the first five months of the year, organizations and individuals doing business on online platforms and digital platforms paid 74,400 billion VND in taxes, a 55% increase compared to the same period last year.
In the race to consolidate market share, platforms have recently been racing to enhance user interaction through various online and offline activities. Over four days, from 4/6 to 7/6, TikTok Shop held a livestream event at the Creative Park (Thu Duc), selling over 37,000 orders. Throughout its early June birthday campaign, the platform sold over 20 million orders, a 46% increase compared to the 2024 program.
Capitalizing on the blind box craze, Lazada recently announced a partnership with toy company Pop Mart to launch two limited-edition collections and organize "unboxing" livestreams. Next month, the platform will revive the Lazada Run after a hiatus.
On the user experience front, Lazada signaled its entry into the free shipping race. At the beginning of June, Shopee announced free shipping for all orders (excluding bulky items, express deliveries, and other special cases). In response, a VnExpress source said that, starting 1/7, Lazada has a new free shipping policy for genuine stores (LazMall), applicable to orders under 15 kg.
Along with the platforms' efforts to stimulate demand, new policies are being implemented to prevent tax loss and promote a healthy market. Starting 1/7, e-commerce platforms and digital platforms must deduct and pay value-added tax (VAT) and personal income tax on behalf of sellers (households and individual businesses) on the platforms, according to Decree 117.
Concurrently, the Ministry of Industry and Trade is drafting a decree stipulating administrative penalties for violations in trading activities, production, trading of counterfeit goods, prohibited goods, and consumer protection, replacing Decree 98. Accordingly, e-commerce platforms will be penalized if they fail to identify sellers or prevent counterfeit goods.
Vien Thong
