E-commerce sales go up 38% in January-September

16:22 | 25/10/2024 Trade Follow Ven.vn on

Viet Nam's e-commerce sales were estimated at VND227.7 trillion (US$9.5 billion) in the first nine months of 2024, up 38 percent against the same period last year, according to the e-commerce data platform Metric.

Viet Nam is currently among the top 10 countries with the highest e-commerce growth rate in the world with revenue reaching nearly VND498.9 trillion (US$20.1 billion) in 2023.

Beauty care, male footwear, groceries, and fashion were among the best-selling categories on five major platforms in Viet Nam, including Shopee, TikTok Shop, Lazada, Tiki, and Sendo.

In third quarter, from June to September, the quintet of e-commerce behemoths racked up sales of VND84.75 trillion (US$3.3 billion), accounting for 37 percent of total sales in the first nine months), representing a year-on-year increase of 18.15 percent. Specifically, 897 million products were purchased online.

In the first nine months, people in Viet Nam spent VND227.7 trillion shopping online with 2,430 million items, up 49.8 percent against the same period last year.

The number of online shops was 580,300, down 1 percent against the same period last year.

Shopee, Tiktok Shop and Tiki recorded a significant expansion in revenue in the third quarter compared to the second quarter and the same period last year. Lazada and Sendo experienced declining revenues.

Viet Nam is currently among the top 10 countries with the highest e-commerce growth rate in the world with revenue reaching nearly VND498.9 trillion (US$20.1 billion) in 2023.

The General Department of Customs reported that a decree about customs management on imported products via e-commerce is being drawn up to create a legal framework to promote the sustainable development of cross-border e-commerce, which is booming in Viet Nam.

Figures from Amazon showed that the cross-border retail sales of Viet Nam grew by an average of 20 percent per year, and are expected to reach VND256.1 trillion in 2026./.

Source: VGP

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