E-commerce players build up modern capabilities

Vietnam's e-commerce market continues to see fierce competition, prompting small and big players to adjust their strategies.

- 

Weihan Chen, head of Insights at Momentum Works, talked with VIR's Thanh Van about the new movements in Vietnam's e-commerce landscape.

What is the current performance of Vietnam's e-commerce market in Southeast Asia?

Southeast Asia’s ecommerce platform gross merchandise value (GMV) growth accelerated to 22.8 per cent on-year in 2025, reaching a total of $157.6 billion, close to three times the value of 2020. This reflects the strategic pivot by leading platforms back to growth, while continuing to improve the region’s ecommerce infrastructure, efficiency, customer experience and service level.

Against the backdrop, Vietnam’s e-commerce market continues to grow at a robust pace (27.3 per cent on-year), in line with broader regional trends. According to Momentum Works’ estimates, in 2025, Vietnam’s e-commerce platform GMV reached $20.4 billion, up from $16.0 billion in 2024, making Vietnam the fourth-largest platform ecommerce market by GMV.

How do Shopee and TikTok Shop vie for market share in Vietnam?

Shopee and TikTok Shop together own 97 per cent of Vietnam’s platform e-commerce market, with Shopee leading at 58 per cent and TikTok Shop at 39 per cent.