Vietnam’s E-Commerce Market Forms a Duopoly as TikTok Shop Closes in on Shopee
Vietnam’s e-commerce market is evolving into a two-player competition between TikTok Shop and Shopee. TikTok Shop has sharply increased GMV through its Mall flagship-store model and continues to narrow the gap with the market leader.
What are the key facts?
- 1Market structure: Duopoly between TikTok Shop and Shopee
- 2Growth: TikTok Shop’s market share is rising rapidly
- 3Key driver: Growth in Mall flagship-store GMV
What happened?
Competition in Vietnam’s e-commerce market is intensifying, with TikTok Shop rapidly catching up with Shopee in GMV through its Mall flagship-store and official-store strategies. Data shows that GMV per Mall flagship store is far higher than that of ordinary sellers.
What does this mean for cross-border sellers?
Brands in Southeast Asia should increase investment in official flagship stores and use platform support programs to strengthen brand credibility and conversion rates.