2.6 billion products sold on Việt Nam’s e-commerce platforms in first nine months

2.6 billion products sold on Việt Nam’s e-commerce platforms in first nine months

According to data from YouNet ECI’s EcomHeat platform, gross merchandise value (GMV) across the country’s four largest e-commerce platforms including Shopee, TikTok Shop, Lazada and Tiki, reached VNĐ411.8 trillion (US$16 billion) during the period.

Data from YouNet ECI’s EcomHeat platform. — Photo vietnamplus.vn

Việt Nam’s e-commerce market recorded 2.6 billion products sold and more than 436,000 revenue-generating shops in the first nine months of this year, reflecting continued growth ahead of the year-end shopping season.

According to data from YouNet ECI’s EcomHeat platform, gross merchandise value (GMV) across the country’s four largest e-commerce platforms including Shopee, TikTok Shop, Lazada and Tiki, rreached VNĐ411.8 trillion (US$15.9 billion) during the period.

The results come as Việt Nam’s economy faces mixed conditions. The country’s GDP grew 9.95 per cent year-on-year in the third quarter of this year, according to the National Statistics Office under the Ministry of Finance, while inflation remained at 5.1 per cent, indicating continued pressure on consumer spending.

The market is now approaching its peak shopping season, with major promotional events including 10.10, 11.11, Black Friday and 12.12, followed by Christmas and preparations for the 2027 Lunar New Year.

However, growth in GMV has been driven more by higher selling prices than by sales volumes. YouNet ECI data show that GMV increased steadily over four consecutive quarters, from the fourth quarter of 2025 to the third quarter of 2026, with price growth exceeding 20 per cent each quarter, while growth in units sold remained largely flat.

The number of revenue-generating shops across the four platforms rebounded by approximately 8 per cent quarter-on-quarter in Q3, climbing from over 370,000 to nearly 400,000. The figure of non-Mall shops increased from nearly 351,550 to over 380,300, while that of Mall shops, which represent official brand stores, rose nearly 1,000 from 18,590.

Compared with the same period last year, however, the number of Non-Mall shops declined by 8 per cent, while Mall shops increased by approximately 5 per cent, highlighting a divergence between independent sellers and official stores.

Fast-moving consumer goods (FMCG) emerged as a bright spot, with GMV reaching VNĐ29.4 trillion in the third quarter, up 36 per cent year-on-year and 26 per cent over the first nine months. The category ranked second in market size among the sectors monitored and recorded the fastest quarterly growth.

Unlike the broader market, where price increases have outpaced volume growth, FMCG recorded balanced growth, with prices contributing 17 per cent and units sold 18 per cent. YouNet ECI expects the year-end shopping season to create opportunities for new product launches and major promotional campaigns, potentially helping the category achieve growth of more than 30 per cent in the fourth quarter, similar to the same period last year.

Fashion and accessories generated VNĐ39.3 trillion in GMV in the third quarter, up 29 per cent year-on-year, while beauty products, excluding personal care, reached VNĐ18.9 trillion, an increase of 28 per cent.

Despite their sizeable market shares, both sectors face slowing order growth amid rising prices and increasingly price-sensitive consumers.

YouNet ECI recommends that businesses focus on key products, select platforms based on specific objectives, retain existing customers and increase their average order value, rather than relying heavily on new customer acquisition or setting overly ambitious growth targets.

The report highlights the need for e-commerce businesses to balance price, sales volume and customer retention to sustain growth during the final quarter of 2026. 

Bizhub