Despite difficulties, Shopee is still the “hegemonic” of e-commerce: Vietnamese people spend more than 113,000 billion VND hunting goods on Shopee, nearly 3 times more than on Lazada

According to the 2023 E-Commerce Report released by market research company Momentum Works, the total value of goods transactions on e-commerce in 2022 in Southeast Asia will reach nearly 100 billion USD, 1.8 times higher than last year. 2020. GMV level is compiled from 9 leading e-commerce platforms in Southeast Asia.

In which, Indonesia continues to be the largest e-commerce market, contributing US$51.9 billion (equivalent to 52%) to the total regional GMV. Next are Thailand (14.4 billion USD), Philippines (11.5 billion USD), Vietnam (9 billion USD) , Malaysia (8.7 billion USD), Singapore (4 billion USD).

In all of the above countries, Shopee is the leading platform for GMV. The total GMV of Shopee in Southeast Asia market reached 47.9 billion USD, accounting for 48%. Alibaba’s “baby” – Lazada also maintains the runner-up position in most markets, except Indonesia, with a total GMV of the whole region reaching 20.1 billion USD.

In Vietnam , the value of goods transactions on Shopee accounts for 63% of the total GMV of the whole market, reaching about 5.67 billion USD ( approximately 5.67 billion USD). 113,245 billion) In second place is Lazada, with a market share calculated by GMV of only about $2.7 billion (about VND 63,450 billion), equal to 1/3 of Shopee’s achievement.

Meanwhile, Tiki only contributes 6% to the total GMV of Vietnam’s e-commerce, equivalent to 540 million USD.

The TikTok Shop platform, although launched just over a year ago, has caught up with Sendo, coming close to Tiki’s achievement, with total GMV reaching about 360 million USD. Not only in Vietnam, TikTok Shop is also in the Top 3 or Top 5 e-commerce platforms with the highest GMV in other markets in the region.

Momentum Works forecasts that in the best conditions, GMV on e-commerce in Southeast Asia can reach $ 232 billion by 2028.