Vietnam’s e-commerce sector, despite being a latecomer, is rapidly growing, with a 20% increase in online retail sales in 2020, hitting $11.8 billion. The market is projected to reach $14 billion by 2022 and $32 billion by 2025, with Shopee, Lazada, Tiki, and Sendo as leading platforms dominating the market.
Shopee alone holds a 73% market share. This remarkable expansion is outpacing traditional retail, suggesting that e-commerce could equal the size of traditional retail by 2025. The surge is supported by the widespread adoption of online payment methods, including e-wallets, credit cards, and internet banking.
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