E-Commerce landscape in 2025: What to Expect?

In 2024, imported goods surged dramatically with more than 324.1 million products sold, generating VND 14,200 billion in revenue - a 42.9% increase year-over-year.

Consumers searching for products online – Photo: HONG PHUC

According to the 2024 Overview of Online Retail Platforms and 2025 Forecast report recently released by the e-commerce data analytics platform Metric, the total revenue of the five most popular e-commerce platforms in Vietnam (Shopee, Lazada, TikTok Shop, Tiki, and Sendo) reached VND 318,900 billion in 2024 - a 37.36% growth compared to 2023.

Revenue Boom, Yet Fewer Sellers

Along with revenue, total sales volume also rose significantly to 3.4 million products - a sharp increase of 50.76%. These figures demonstrate that consumer purchasing power remains high.

However, the number of stores generating orders dropped by 20.25%, highlighting the increasingly fierce competition.

Many small-scale or inefficient sellers have exited the market, making way for brands with clear business strategies, product portfolios aligned with consumer demand, and greater operational flexibility.

Total revenue of the top 5 e-commerce platforms reached VND 318,900 billion in 2024 – Photo: Metric

Metric data also reveals that the second half of 2024 saw significant revenue growth thanks to major shopping events like the back-to-school season, Vietnamese Women’s Day (October 20), Vietnamese Teachers’ Day (November 20), Christmas, New Year, and Lunar New Year.

These occasions create high shopping demand and offer opportunities for sellers to leverage promotional campaigns, diversify product portfolios based on consumer trends, and boost marketing efforts.

Moreover, Shop Mall on Shopee and TikTok Shop recorded strong revenue growth (69.79% and 181.31%, respectively), reflecting consumers' growing preference for reputable brands and trusted stores.

The Rise of Imported Goods and Shifting Consumer Behavior

2024 witnessed a substantial increase in imported products, with over 324.1 million items entering Vietnam, generating VND 14,200 billion in sales - representing a 37.9% rise in volume and a 42.9% surge in revenue compared to the same period last year.

This shift is driven by several key factors, including improved logistics systems that allow faster shipping and reduce the risk of loss or late deliveries.

E-commerce platforms have also enhanced return policies and consumer protection measures, lowering risks when shopping for international goods.

Additionally, competitive pricing from international brands plays a major role, as many imported products are more affordable due to lower production costs. This is a key signal for domestic businesses, urging them to optimize product offerings and pricing strategies to stay competitive.

Beauty, Home & Living, and Women’s Fashion remained the top three revenue-generating categories on e-commerce platforms. However, the Grocery & Food category stood out with a remarkable growth rate of 76.3% - the highest among all sectors.

This trend highlights a clear shift in shopping behavior, with consumers increasingly opting for online food purchases over visits to traditional markets or supermarkets.

The growth of this sector is fueled by convenience and faster delivery times, saving consumers considerable time. Additionally, attractive promotions and discount codes make online grocery shopping more economical.

Source: Nhat Xuan – Tuoi Tre Newspaper
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