According to NielsenIQ Vietnam, Vietnamese consumers are shopping online at an average of four times per month, which is double the number from 2023. This frequency is also twice as high as the number of times people go to the supermarket in Vietnam. The survey showed that on average, Vietnamese individuals use 3.2 platforms for online shopping. Interestingly, the main reasons driving consumers to shop online are to purchase items for family consumption or for immediate use, rather than solely for cheap products.
In the past, Vietnamese consumers mainly used e-commerce platforms for non-essential items like electronics, fashion, or household appliances. However, the trend has shifted towards purchasing daily necessities online. The top three product categories that Vietnamese consumers are shopping for online are food, beverages, and personal cosmetics. Other popular categories include fashion-sports, home care, and technology products.
Mr. Le Hoang Long, Head of Retailer Vertical NielsenIQ Vietnam, mentioned at an event on June 28 that online shopping has become the “new normal” for consumers in Vietnam. He noted that essential items are gaining more popularity among online shoppers. Data from Metric, an e-commerce data firm, revealed that Vietnamese consumers are spending more on online shopping than predicted, with the top five platforms being Shopee, Lazada, Tiki, Sendo, and TikTok Shop.
The General Statistics Office reported that e-commerce growth is outpacing that of the general retail market. Despite this, Mr. Hung Huynh, Country Director in charge of TikTok for Business SMB Vietnam, stated that many small and medium enterprises have not fully tapped into the potential of the online commerce market due to limitations in resources and digital transformation skills.
To support small and medium-sized enterprises, TikTok Shop Vietnam plans to invest one million USD in assisting 10,000 businesses in the second half of 2024. They will collaborate with local authorities and business associations to identify eligible businesses for support. Additionally, TikTok Vietnam plans to organize a livestream festival in various provinces to further promote e-commerce growth in Vietnam.