The Vietnam E-Commerce Market is projected to grow from USD 16.18 billion in 2025 to USD 26.17 billion by 2030, registering a CAGR of 10.09% during the forecast period (2025-2030).

Vietnam is one of the fastest-growing e-commerce markets in Southeast Asia, driven by rising internet penetration, digital transformation initiatives, increased smartphone usage, and a growing preference for cashless payments. The Vietnamese government has actively promoted digital commerce and cashless transactions to modernize the economy, reduce dependence on cash-based payments, and improve financial inclusion.

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With a young, tech-savvy population and favorable regulatory policies, the Vietnamese e-commerce market continues to expand rapidly, creating opportunities for both local and foreign online retail players. Additionally, major investments in logistics, digital payments, and infrastructure development are enhancing the overall e-commerce ecosystem, fueling further growth in online shopping.

Key Market Trends

1. Rising Digital Payments Driving E-Commerce Growth

Vietnam’s e-commerce expansion is closely linked to the adoption of digital payment solutions, reducing reliance on cash-on-delivery (COD) transactions.

Key Drivers of Digital Payments in Vietnam:

• Government push for a cashless economy – Vietnam aims to reduce cash transactions to less than 10% of total payments and achieve 70% financial inclusion by 2025.


• Increased adoption of e-wallets – Platforms like MoMo, ZaloPay, and ViettelPay are gaining traction.


• Improved 4G/5G infrastructure – Cheaper mobile internet access has accelerated mobile commerce adoption.


• COVID-19 pandemic impact – Increased preference for contactless transactions and online shopping.

Shift from Cash-on-Delivery (COD) to Digital Payments:

• According to a Rakuten survey (June 2022), 71% of Vietnamese consumers had paid for online purchases via COD in the past three months.


• However, mobile wallets were the second-most preferred payment method, used by 54% of respondents.


• By 2025, COD transactions are expected to decline as digital payment platforms gain wider acceptance.

Vietnam’s digital payment landscape is rapidly evolving, with e-wallets and mobile banking solutions expected to dominate online transactions in the coming years.

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2. Growth of Regional E-Commerce Platforms & Competition with Global Giants

Vietnam’s e-commerce ecosystem is highly competitive, with both domestic and international players vying for market dominance.

Leading E-Commerce Platforms in Vietnam (February 2022 Data):

• Shopee – 78.5 million users, largest e-commerce platform in Vietnam.


• Lazada – 14.8 million users, backed by Alibaba.


• Tiki – 14.1 million users, a Vietnamese-origin marketplace.


• Good Market (Vietnam) – 12.7 million users.

Vietnam’s Homegrown E-Commerce Players:

• Tiki, Sendo, and Thegioididong have emerged as strong local competitors.


• These platforms attract investments from Japan, South Korea, the U.S., Germany, China, and Singapore.


• Tiki secured a major investment from JD.com (VND 1,000,000 million / USD 40.57 million), strengthening its market position.

Foreign Platforms Dominating Market Share:

• Shopee and Lazada, backed by Singapore and China, command a significant portion of the Vietnamese e-commerce market.


• Foreign e-commerce platforms favor international logistics and delivery partners, posing challenges for local postal and distribution services.

Vietnam’s local e-commerce companies are now focusing on mobile-first strategies, personalized shopping experiences, and localized product offerings to compete effectively with global players.

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3. Vietnam’s Thriving Mobile Commerce (M-Commerce) Market

The rise of mobile commerce is reshaping Vietnam’s e-commerce industry. Smartphones are now the primary device for online shopping, accounting for a majority of transactions.

Key Factors Driving M-Commerce Growth:

• Over 100 million registered mobile subscriptions due to affordable internet access.


• 62% of all online transactions in Vietnam are made via mobile apps, according to JP Morgan.


• Only 19% of Vietnamese merchant websites are mobile-friendly, creating an opportunity for mobile-optimized e-commerce experiences.


• E-wallets and digital banking apps are becoming essential for mobile commerce adoption.

With Vietnam’s younger generation embracing mobile-first shopping, m-commerce is expected to dominate online retail transactions in the coming years.

4. Government Initiatives Supporting E-Commerce Growth

Vietnam’s National E-Commerce Growth Master Plan aligns with the country’s Fourth Industrial Revolution strategy, promoting digital transformation and economic modernization.

Government Goals for E-Commerce Expansion:

• Increase cross-border online trade by enabling more Vietnamese businesses to export via e-commerce.


• Close the urban-rural gap in digital access, expanding e-commerce penetration in smaller cities and rural areas.


• Enhance digital infrastructure through improved logistics, transportation, and fulfillment services.


• Encourage businesses to embrace online retail, supporting SMEs and startups.

Vietnam’s pro-business regulatory framework makes it one of the most e-commerce-friendly nations in ASEAN, further attracting foreign investments in the sector.

Challenges in the Vietnam E-Commerce Market

Despite rapid growth, several challenges remain:

1. High Dependency on Cash-on-Delivery (COD)

• While digital payments are rising, COD still accounts for a significant portion of transactions.


• Security concerns and lack of trust in online payments hinder digital adoption.

2. Logistics and Last-Mile Delivery Issues

• Traffic congestion in urban areas affects timely delivery.


• Rural and remote areas lack efficient e-commerce fulfillment services.


• Dependence on foreign logistics providers creates challenges for local businesses.

3. Market Fragmentation and Intense Competition

• The presence of multiple e-commerce players makes customer acquisition expensive.


• Price wars and aggressive discount strategies affect platform profitability.

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Vietnam E-Commerce Market Segmentation

1. By Business Model:

• Business-to-Consumer (B2C) – Online retail platforms and direct-to-consumer brands.


• Consumer-to-Consumer (C2C) – Peer-to-peer marketplaces.


• Business-to-Business (B2B) – Digital wholesale marketplaces.

2. By Product Category:

• Electronics & Mobile Devices


• Fashion & Apparel


• Beauty & Personal Care


• Home & Kitchen


• Groceries & FMCG

3. By Key Players in the Market:

• Shopee.vn


• Thegioididong.com


• Fptshop.com.vn


• Lazada Vietnam


• Tiki.vn

Future Outlook and Market Opportunities (2025-2030)

1. Growth in Social Commerce & Livestream Shopping

• Platforms like Facebook, TikTok, and Instagram are fueling social commerce adoption.


• Live-streamed product demonstrations and real-time shopping are expected to become mainstream.

2. Strengthening Vietnam’s Cross-Border E-Commerce Potential

• Increased government support for Vietnamese businesses to export via e-commerce.


• Strategic partnerships with global marketplaces like Amazon and Alibaba.

3. AI-Powered Personalization & Voice Commerce

• AI-driven product recommendations will enhance the shopping experience.


• Voice search and voice commerce adoption are expected to increase.

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Investment Opportunities and Market Entry Strategies

For businesses looking to expand into Vietnam’s e-commerce market, key strategies include:

1. Investing in Mobile-Optimized E-Commerce Experiences – Prioritizing app-based transactions and seamless mobile shopping.


2. Strengthening Logistics & Last-Mile Delivery Networks – Enhancing fast and reliable fulfillment solutions.


3. Expanding Digital Payment Solutions – Promoting e-wallets, BNPL (Buy Now Pay Later), and fintech partnerships.


4. Leveraging AI & Data Analytics – Enhancing personalized recommendations and predictive shopping trends.

Conclusion

Vietnam’s e-commerce market is poised for rapid expansion, driven by digital transformation, rising mobile commerce adoption, and government-backed initiatives.

With strong growth prospects, increased cross-border opportunities, and evolving consumer behaviors, businesses that invest in innovation, digital payments, and seamless logistics solutions will be well-positioned for long-term success in Vietnam’s booming online retail sector.

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