Domestic vs. international e-commerce platforms
The multinational e-marketplace Shopee has continuously held the leading position within the Vietnamese e-commerce market due to its user-friendly interface, attractive promotions, and wide range of products. Meanwhile, TikTok Shop, an in-app online shopping solution integrated by TikTok, has been enjoying impressive growth, surpassing Lazada in revenue performance as of the first half of 2023. Since its operation in the country, TikTok Shop has successfully formed a new ‘shoppertainment’ trend, where users can sell and purchase directly through TikTok while enjoying its uplifting, catchy, yet personalized content.Furthermore, there has been an increasing number of newly registered Vietnamese e-commerce sites, especially in the form of e-marketplaces. The local brand The Gioi Di Dong has emerged as one of the most popular e-commerce sites in recent years, specializing in consumer electronics and IT devices. Overall, the business-to-consumer (B2C) revenue of the e-commerce sector is expected to grow from around two billion U.S. dollars in 2013 to over 20 billion U.S. dollars in 2023.