Vietnam's Q3 e-commerce revenue reach $4.14 billion amid rapid growth, intensifying competition

However, this rapid development is accompanied by increasing competitive pressures as domestic and international players vie for market share, prompting businesses to innovate and optimize their strategies to sustain their momentum in an increasingly crowded landscape.

Beauty, personal care lead growth

According to a new report by the market analytics platform Metric.vn, online spending rose sharply thanks to major promotional events such as double day mega sales 8/8, 9/9, the Mid-Autumn Festival, and the back-to-school season.

Combined revenue from the four largest e-commerce platforms -- Shopee, TikTok Shop, Lazada, and Tiki -- hit VND103.6 trillion ($4.14 billion), with monthly sales up 19 percent, 21 percent, and 26 percent in July, August, and September, respectively.

Vietnamese consumers purchased nearly 989 million products in Q3, an increase of over 10 percent year on year. 

On average, people spent around VND34 trillion ($1.36 billion) per month shopping on major platforms.

Metric.vn’s report identifies beauty and personal care, home and living, and fashion as the three fastest-growing categories.

Among them, Cocoon, a domestic cosmetics brand, stood out with a 202-percent growth rate, making it one of the two most prominent brands in the beauty segment.

Search data across platforms show that 'iPhone case' ranked first with over 10 million searches, followed by 'women’s sandals,' 'shirt,' and 'women’s handbag' --  everyday items that reflect consistent consumer demand.

Mall stores dominate revenue

Mid-range products continued to dominate the sales structure. 

Items priced VND100,000-200,000 ($4-8) accounted for 25.7 percent of the total revenue, while the VND200,000-350,000 ($8-14) range contributed 16 percent.

By contrast, products under VND100,000 ($4) fell from 26.9 percent to 24.4 percent, indicating a clear shift toward higher-value goods.

Notably, the premium segment (above VND1 million, or $38) edged up to 14.5 percent, showing that consumers are willing to 'upgrade' their spending, paying more for better quality, trusted brands, and improved experiences.

Metric’s data show that although mall stores (official brand stores) make up just 2.64 percent of total sellers, they generated a substantial 35.7 percent of the combined revenue on Shopee and TikTok Shop.

TikTok Shop remained a major highlight as the number of mall stores rose 52 percent, pushing sales up by nearly 115 percent year on year.

In contrast, Shopee Mall adopted a more selective approach -- its store count dropped 38.12 percent due to stricter quality standards, yet its overall revenue still maintained a mild upward trend.

Metric projects that in Q4-2025, Vietnam’s e-commerce sales could reach VND105 trillion ($4.2 billion), equivalent to 1,069 billion products sold, up 1.35 percent in value and 8.14 percent in volume quarter on quarter.

Growth will likely be driven by mega sales events like 11/11, 12/12, the year-end shopping season, booming live-stream and flash sales, and strong investment in logistics and express delivery.