Vietnam E-Commerce Market Report and Forecast 2025-2034

The Vietnam e-commerce market reached approximately USD 13.10 Billion in 2024. The market is projected to grow at a CAGR of 12.40% between 2025 and 2034, reaching a value of around USD 42.16 Billion by 2034.

Vietnam E-Commerce Market Growth

The presence of progressive policies set out by the government is aiding the growth of the e-commerce market in Vietnam. In May 2020, the Government approved a national e-Commerce development master plan, which has encouraged the use of e-commerce in businesses and consumers, reduced the gap between major cities and localities, developed a sustainable virtual market, and improved cross-border online trading.

Additionally, the government is promoting a non-cash payment community intending to increase cashless payment to more than 50% by 2025. Furthermore, the increasing middle-class population of Vietnam and increasing disposable income are providing significant opportunities for the expansion of the e-commerce market.

In 2023, the total revenue from business-to-consumer (B2C) transactions on registered e-commerce platforms in the country reached VND 498.9 quadrillion (USD 20.1 billion). Of these, the revenue of the major e-commerce platforms in Vietnam which includes Shopee, Lazada, Tiki, Sendo, and TikTok Shop reached USD 9.4 billion, stating an increase of 53.4% compared to 2022.

Vietnam E-Commerce Industry Segmentation

Vietnam E-Commerce Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Business to Consumer (B2C)
• Business to Business (B2B)

Market Breakup by Industry

• Beauty and Personal Care
• Fashion and Apparel
• Consumer Electronics
• Food and Beverage
• Health and Wellness
• Home Decor
• Household Consumables
• Others

Vietnam E-Commerce Market Share

Hanoi, a city in Vietnam witnessed a revenue of USD 3.1 billion, amounting to a 33% market share and a 44% increase year-on-year. The city is engaged in promoting online consumer activities and aims to encourage 53% of its population to shop online. Morever, in 2024, Hanoi aims for business-to-consumer (B2C) e-commerce sales to make up 13% of its total retail sales of goods and consumer services. The city also targets a 48% cashless rate for e-commerce payments and aims for 69% of online transactions to utilise e-invoicing. Embracing cashless payments aligns with the growth of the digital economy and e-commerce sector in Vietnam.

Leading Companies in Vietnam E-Commerce Market

Market players are actively investing in technological developments and are improving the quality of products and services, to cater to the changing consumer behaviours.

• Tiki Corp
• Shopee Pte. Ltd.
• Lazada Group
• Nguyen Kim Trading Joint Stock Company
• Viettel Store
• FPT Corp. (Sen Do Technology Joint Stock Company)
• Cao Phong Co., Ltd.
• Dieu Phuc Trading and Technical Services Co., Ltd.
• Others