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[Vietnam] E-commerce in VN has the highest growth rate in SE Asia, Tiktok became a popular purchase channel

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The Intage Vietnam monthly consumer confidence index consumption change (base value of 3.0) for "fashion" rose from 3.16 in January 2022 to 3.56 in June 2022, the highest value for the first half of this year.

According to data from the Vietnam Chamber of Commerce and Industry (VCCI) in 2021, the top two purchase categories on Vietnamese e-commerce sites are food (52%) and fashion, shoes, and beauty products (43%). Traditionally, in-store purchases have been the norm, but due to the impact of the new Corona, as well as improved quality control of e-commerce sites and standards for posted images and product descriptions, purchases via e-commerce sites are increasing. 90% of purchases are made via smartphones.

Vietnam's e-commerce growth rate from 2021 to 2025 is projected to be the highest in Southeast Asia at 300%, and according to KANTAR, sales will increase from USD800 million in 2020 to USD1.3 billion in 2021, with Indonesia at USD10.4 billion and Vietnam at USD3.9 billion by 2025. Vietnam is expected to become the second largest e-commerce market in Southeast Asia in terms of sales.

In relation to SNS, the top 3 SNS users in Vietnam are Facebook (93.8%), Zalo (91.3%), and Tiktok (75.6%). Here, Tiktok has been recognized as an important business tool in recent years.

According to Tiktok's own survey, about 30% of respondents said they were influenced by influencer reviews and livestreaming to make purchases. The "ease" of purchasing products through links in the comments section and the ability to contact sellers directly through their SNS contact information in the comments section are in line with the tastes of Vietnamese consumers.

In particular, Generation Z (currently aged 10-27) are actively purchasing "fashion items" and "accessories" on EC sites.

“E-commerce in VN has the highest growth rate in SE Asia, Tiktok became a popular purchase channel” from ACCESS (Aug. 2022)

Translated with AI Translator

  • Intage Inc

    Author profile
    (Mrs.) Yuki Makino

    INTAGE VIETNAM Customer Support Representative.
    After working for 4.5 years as a Japanese teacher and secretary to the principal at Dong Du Japanese Language School, she is now a research assistant. She provides analysis results and improvement measures using various data to clients in various industries.
    For other columns by Vietnamese expatriates click here

  • Intage Inc

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    Intage Inc.

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  • Oct 19, 2022
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