In November, Tiktok Shop’s revenue almost reached Lazada’s and was four times greater than Tiki’s. Shopee is far ahead of its competitors.

Hanoi, Vietnam (TechBiz)– Tiktok shop is emerging as a formidable force, that poses a threat to the major players in e-commerce in Vietnam after attracting a large number of sellers and generating a huge revenue within a short time after it entered the market. This is thanks to its clever strategies leveraging the benefits from the video sharing platform it has successfully developed.

Metric reports that Tiktok Shop sales in November reached VND 1698 billion with 13 million products sold and 32,000 sellers receiving orders. As a result, Tiktok Shop’s sales have been nearing Lazada’s revenue and are four times bigger than Tiki’s. For a new player who has been on the market for less than a year, these are quite impressive results.

techbiz.network tiktok shop
Source: Metric Việt Nam

According to Metric’s report, Tik Tok Shop sells 434 thousand products on average every day, with each one costing an average of 130 thousand VND, totaling 56.6 billion VND in daily sales. This is a record-breaking accomplishment that took other domestic e-commerce platforms many years to achieve.

However, Tiktok shop’s biggest sales are made up of items with a price range of between 100,000 and 200,000 VND (representing 39% of total sales, or 647 billion VND per month). This makes sense given the majority of the audience on Tiktok right now is fairly young, mainly students who have earned much yet.

 

techbiz.network tiktok shop
Revenues of different price ranges on Tiktok shop. Source: Metric

According to the latest statistics by Decision Labs, about 55% of GenZ users are using Tiktok. In Vietnam, Tiktok currently has about 20 million users, of which more than 60% are under the age of 30. MarketingAI’s recent report shows that 2 out of 3 Tiktok users are likely to buy something on Tiktok and up to 50% of users have bought something after watching a tiktok livestreams. This proves that Tiktok shop is making good use of its video sharing platform to support e-commerce.

Looking at the list of categories and brands that generated the most revenue in November on Tiktok shop, we can clearly see that cosmetics and beauty products are still dominant, followed by fashion and electrical products.

 

techbiz.network ecommerce in Vietnam
Categories and brands that generated the most revenue in November on Tiktok. Source: Metric

Despite the impressive growth, especially in the year-end period, Tiktok shop still has to cede the top spots to the 4 eldest brothers in the field of e-commerce  when it comes to the entire year’s revenue. Shopee is still leading the market and is far ahead of other competitors, both in terms of revenue for November and the whole year . Currently, Shopee’s sales in Vietnam account for 73% of the industry market share, or roughly VND 91 trillion. Lazada’s revenue comes in second place with 20% of the market share, or VND 26.5 trillion. Tiki’s sales account for 5% or VND 5.7 trillion, coming in at 3rd place and Sendo’s sales rank 4th, accounting for 1% or little under VND 1 trillion.

techbiz.network ecommerce in Vietnam
Source: Metric. Photo: Techbiz

The distribution of revenue for each category on each major e-commerce platform also seems to have a significant difference. Accordingly, beauty and fashion products bring the largest revenue for Shopee, but the total revenue of other categories on this platform also far exceeds the revenue of the other 3 platforms. The difference in revenue share of each category on Lazada is not too obvious since the sales of the three categories with the highest revenue gains—beauty, voucher-services, and home-lifestyle—are split rather similarly. Smart phone and tablet products (mobile devices) bring in the biggest revenue for Tiki, while on Sendo, cars and motorbikes dominate over other categories.

 

techbiz.network ecommerce in Vietnam

In conclusion, despite the end of the pandemic, e-commerce remained a common method for buying and sell goods in , growing overall by 18.4% from 2021. Metric estimates that in , with 1.3 billion units of products sold and 566 thousand shops generating orders, the total revenue from the four main e-commerce platforms in Vietnam would exceed 135 trillion VND. The figures are quite impressive.

According to Statista, Vietnam had the fourth largest e-commerce market in Southeast Asia in 2021, valued at $13 billion, standing behind Indonesia, Thailand and Malaysia. However, Vietnam’s e-commerce will overtake that of Malaysia and Thailand by 2025 and reach $39 billion, placing it second in the region behind Indonesia.

techbiz.network ecommerce in Vietnam

This forecast is encouraging and serves as a powerful impetus for sellers and e-commerce platforms to maintain the momentum of growth in order to make even more outstanding progress in the upcoming years.

Data sources used in this article are provided by Metric’s December report, Statista, Decision Labs, Marketing AI

Reddit makes a splash with spectacular stock debut

Vietnam’s Vingroup Makes Strategic Move with $1.6 Billion Sale of Vincom Retail Stake

NVIDIA and Johnson & Johnson MedTech’s AI Collaboration Revolutionizing Surgery

Alphabet-Apple Collaboration Unveiling Gemini AI for iPhone Innovation

Landmark Verdict: $60 Million Penalty Imposed on Mead Johnson in Enfamil Baby Formula Case

Devin AI: Pioneering the future as the first AI software engineer

Job Interview Red Flags: Phrases to avoid according to a former Google recruiter

US Pushes for ByteDance to Sell TikTok, But China Likely to Refuse

Starbucks Ends Odyssey NFT Rewards Program, Shifting Focus to AI

Coinbase Faces Technical Woes Amidst Bitcoin Surge to $64,000

techbiz.network google apple meta violation to eu new digital law

EU Probes Apple, Google and Meta for Potential Violations of New Digital Law

The European Union (EU) is launching investigations into tech giants Apple, Google, and Meta (Facebook’s parent company) over concerns they …
techbiz.network chrome

Massive Changes Coming to Google Chrome Threaten to Reshape the Modern Internet

Google Chrome is on the brink of initiating a seismic shift that threatens to reshape the very foundation of the …
techbiz.network google apple meta violation to eu new digital law

EU Probes Apple, Google and Meta for Potential Violations of New Digital Law

The European Union (EU) is launching investigations into tech giants Apple, Google, and Meta (Facebook’s parent company) over concerns they …
techbiz.network chrome

Massive Changes Coming to Google Chrome Threaten to Reshape the Modern Internet

Google Chrome is on the brink of initiating a seismic shift that threatens to reshape the very foundation of the …
techbiz.network Traveling to Haivaii

Exploring the Enchanting Wonders of Hawaii- A Journey to Remember

Hawaii, an idyllic paradise nestled in the heart of the Pacific Ocean, is a dream destination for many travelers. With …
techbiz.network travel in Hanam

Vibrant Activities in Ha Nam Cultural and Tourism Week 2023

On May 14th, at Tam Chuc Tourist Area in Kim Bang District, the People’s Committee of Ha Nam Province, together …
techbiz.network Traveling to Haivaii

Exploring the Enchanting Wonders of Hawaii- A Journey to Remember

Hawaii, an idyllic paradise nestled in the heart of the Pacific Ocean, is a dream destination for many travelers. With …
techbiz.network Vietnam Airlines' Heritage Guide

Unveiling the Heritage Guide: Vietnam Airlines’ Exquisite Travel Companion for Exploring Vietnam

On June 15th, Vietnam’s national airline, Vietnam Airlines, officially launched a new travel guide publication called “Heritage Guide” on all …
techbiz.network Thomson Medical Group of Singapore accquires FV hospital

Thomson Medical Group Expands Southeast Asian Presence with Acquisition of FV Hospital in Vietnam

Singapore’s Thomson Medical Group (TMG) has made a significant move in the healthcare sector by acquiring Vietnam’s FV Hospital, marking …
techbiz.network By Rotation clothing rental app

By Rotation: The Startup Revolutionizing Fashion with Peer-to-Peer Clothing Rental

By Rotation, a U.K.-based clothing rental app, is on a mission to combat the harmful effects of fast fashion by …
Talks with Leaders, Ep8: 1st AI Doctor Assistant in Vietnam provides 90+% correct diagnosis within 5s

Talks with Leaders, Ep8: 1st AI Doctor Assistant in Vietnam provides 90+% correct diagnosis within 5s

In this eighth episode, we’ll learn about VinBrain, a VinGroup subsidiary dedicated to developing AI and IoT technologies for …
techbiz.network blockchain meets metaverse

Talks with Leaders, Special episode: Blockchain meets Metaverse, featuring business leaders, investors, tech experts and global influencers

On November 14, 2021, the live webinar Blockchain meets Metaverse was successfully organized by TechBiz with the participation of …
techbiz.network Nvidia and Johnson & Johnson collaboration for surgery

NVIDIA and Johnson & Johnson MedTech’s AI Collaboration Revolutionizing Surgery

The integration of artificial intelligence (AI) into various facets of healthcare has revolutionized patient care, and its impact on surgery …
techbiz.network google apple meta violation to eu new digital law

EU Probes Apple, Google and Meta for Potential Violations of New Digital Law

The European Union (EU) is launching investigations into tech giants Apple, Google, and Meta (Facebook’s parent company) over concerns they …

techbiz.network valentino joins metaverse

Valentino Joins the Metaverse: An Exciting Partnership with UNXD

Valentino, the iconic Italian fashion house, has announced its foray into the metaverse through a partnership with UNXD, the leading …

techbiz.network coinbase faced 0 balance woes while bitcoin surged to $64000

Coinbase Faces Technical Woes Amidst Bitcoin Surge to $64,000

Coinbase found itself in the midst of technical challenges as some users woke up to zero balances in their digital …

techbiz.network coinbase faced 0 balance woes while bitcoin surged to $64000

Coinbase Faces Technical Woes Amidst Bitcoin Surge to $64,000

Coinbase found itself in the midst of technical challenges as some users woke up to zero balances in their digital …

techbiz.network Traveling to Haivaii

Exploring the Enchanting Wonders of Hawaii- A Journey to Remember

Hawaii, an idyllic paradise nestled in the heart of the Pacific Ocean, is a dream destination for many travelers. With …
techbiz.network Abode by Stuarte Semple challenges Adobe

Abode: Artist Challenges Adobe’s Dominance with Lifetime Creative Software Suite

Artist and activist Stuart Semple has embarked on an ambitious project to challenge the dominance of Adobe, the corporate …
techbiz.network By Rotation clothing rental app

By Rotation: The Startup Revolutionizing Fashion with Peer-to-Peer Clothing Rental

By Rotation, a U.K.-based clothing rental app, is on a mission to combat the harmful effects of fast fashion by …

techbiz.network thread lost 82% users

Threads App’s Rollercoaster Ride: Plummeting 82% of Users Raise Concerns for Meta’s Social Experiment

In early July, Meta, formerly known as Facebook, unveiled its highly anticipated social media offering, Threads. The platform, described as …

techbiz.network job interview red flag phrase

Job Interview Red Flags: Phrases to avoid according to a former Google recruiter

When it comes to acing a job interview, there are certain tactics that can help you stand out and impress …

techbiz.network Traveling to Haivaii

Exploring the Enchanting Wonders of Hawaii- A Journey to Remember

Hawaii, an idyllic paradise nestled in the heart of the Pacific Ocean, is a dream destination for many travelers. With …
techbiz.network travel in Hanam

Vibrant Activities in Ha Nam Cultural and Tourism Week 2023

On May 14th, at Tam Chuc Tourist Area in Kim Bang District, the People’s Committee of Ha Nam Province, together …

techbiz.network Thomson Medical Group of Singapore accquires FV hospital

Thomson Medical Group Expands Southeast Asian Presence with Acquisition of FV Hospital in Vietnam

Singapore’s Thomson Medical Group (TMG) has made a significant move in the healthcare sector by acquiring Vietnam’s FV Hospital, marking …
techbiz.network By Rotation clothing rental app

By Rotation: The Startup Revolutionizing Fashion with Peer-to-Peer Clothing Rental

By Rotation, a U.K.-based clothing rental app, is on a mission to combat the harmful effects of fast fashion by …