Ecommerce Market in Vietnam vs. Southeast Asia: A Competitive Analysis (2025 Update)

Introduction

The ecommerce market in Vietnam has experienced rapid growth in recent years, positioning itself as one of the fastest-growing digital economies in Southeast Asia. With a young, tech-savvy population, increasing internet penetration, and improved digital payment infrastructure, Vietnam is now competing with major regional players like Indonesia, Thailand, and Malaysia. But how does Vietnam’s ecommerce market compare to the rest of Southeast Asia? Let’s dive into a detailed competitive analysis.

For businesses looking for data-driven insights and analytics on Vietnam’s ecommerce landscape, visit Easy Data for real-time market intelligence.

Market Size & Growth in the Ecommerce Market in Vietnam

Vietnam’s Ecommerce Market

Vietnam’s ecommerce industry has seen double-digit growth, with a market size projected to reach $40 billion by 2025, according to Google, Temasek, and Bain & Company. The ecommerce market in Vietnam is fueled by:

• A 72% internet penetration rate
• Rapid adoption of mobile commerce (m-commerce)
• Expanding logistics networks and last-mile delivery solutions
• Increasing investment from foreign players like Alibaba, Tencent, and SEA Group

Southeast Asia’s Ecommerce Landscape

Southeast Asia’s overall ecommerce market is projected to exceed $234 billion by 2025, with Indonesia leading at nearly $83 billion, followed by Thailand, Malaysia, the Philippines, and Vietnam. Each country exhibits different ecommerce trends based on local demographics, digital infrastructure, and consumer behavior.

Comparative Growth Rates:

• Indonesia: $83 billion (Fastest-growing)
• Thailand: $56 billion (Strong cross-border activity)
• Vietnam: $40 billion (Rising middle class & digital transformation)
• Malaysia: $30 billion (High digital payment adoption)
• Philippines: $28 billion (Young digital-savvy consumers)

Key Players in Vietnam vs. Southeast Asia

Vietnam’s Leading Ecommerce Platforms

• Shopee Vietnam (market leader, strong logistics network)
• Lazada Vietnam (Alibaba-backed, focus on brand partnerships)
• Tiki (local player with strong customer loyalty)
• Sendo (Vietnamese marketplace focusing on regional consumers)

Regional Competitors in the Southeast Asian Ecommerce Market

• Shopee & Lazada dominate across Southeast Asia
• Tokopedia & Bukalapak are strong in Indonesia
• Blibli & JD.id serve niche markets in the region
• Zalora & FashionValet specialize in fashion ecommerce

While Shopee and Lazada hold a strong regional presence, local players like Tiki and Sendo continue to cater to Vietnamese consumers with localized offerings.

Consumer Behavior: Vietnam vs. Southeast Asia

Vietnamese online shoppers share similarities with other Southeast Asian consumers but also have unique characteristics:

• Preference for Cash-on-Delivery (COD): 80% of transactions still involve COD, though digital payments are growing.
• High Social Commerce Engagement: Many Vietnamese consumers shop via Facebook, Zalo, and TikTok Shop, a trend seen in Thailand and Indonesia as well.
• Young Digital Consumers: 75% of ecommerce users in Vietnam are under 35, similar to Indonesia and the Philippines.
• Discount-Driven Shopping: Flash sales and mega-sale events (11.11, 12.12) significantly influence buying decisions.

Challenges and Opportunities in the Ecommerce Market in Vietnam

Challenges in Vietnam’s Ecommerce Market

1. Logistics & Last-Mile Delivery: Infrastructure is improving but still faces challenges in rural areas.
2. Payment Adoption: While digital payments are growing, Vietnam still relies heavily on COD.
3. Competition with Global Giants: Alibaba, Shopee, and Lazada dominate, making it difficult for local platforms to scale.
4. Regulatory Hurdles: Ecommerce taxation, cybersecurity laws, and data protection policies add complexity to the market.
5. Customer Trust & Fraud Prevention: With high COD reliance, return rates and fraud incidents remain concerns for online retailers.

Opportunities for Growth in Vietnam’s Ecommerce Market

1. Cross-border Ecommerce: Vietnam’s trade agreements (RCEP, CPTPP) open doors for global ecommerce expansion.
2. Digital Banking & Fintech Growth: Mobile wallets (MoMo, ZaloPay, ViettelPay) are increasing cashless transactions.
3. Niche Markets & D2C (Direct-to-Consumer) Trends: Specialized ecommerce segments (organic food, sustainable fashion) are gaining traction.
4. AI-Powered Personalization: Ecommerce players can leverage AI and big data for hyper-personalized shopping experiences.
5. Omnichannel Retailing: A growing trend where physical stores integrate with online platforms for a seamless customer journey.

Vietnam’s Ecommerce Regulatory Landscape

Vietnam’s government has introduced multiple policies to support ecommerce growth while ensuring market stability. Some key regulations include:

• Law on Cybersecurity (2019): Governs data localization and digital commerce operations.
• E-Invoice Mandate (2022): Ensures digital taxation compliance.
• Cross-border Ecommerce Taxation: Introduced in 2023 to regulate foreign ecommerce businesses selling into Vietnam.

For an in-depth look at how regulations impact ecommerce strategies, visit Easy Data for market analysis.

Conclusion

Vietnam’s ecommerce market is growing rapidly, standing out as a key player in Southeast Asia. While it shares common trends with regional markets, its high COD usage, strong local players, and government-backed digital transformation initiatives make it unique. As the country continues to evolve, foreign investors, ecommerce enablers, and local startups have significant opportunities to tap into this dynamic and competitive landscape.

Key Takeaways

• Vietnam’s ecommerce growth rate rivals leading markets like Indonesia and Thailand.
• Shopee and Lazada dominate regionally, but local platforms like Tiki and Sendo have strong market positions.
• Logistics and payment solutions remain critical for long-term ecommerce expansion.
• Social commerce and fintech advancements are reshaping consumer behavior.
• Regulatory policies are evolving, presenting challenges and opportunities.

For businesses looking to expand into Vietnam’s ecommerce market, understanding these competitive dynamics is crucial for success. Stay ahead of the game by leveraging real-time market data, consumer insights, and strategic ecommerce solutions. Visit Easy Data for detailed ecommerce reports and analytics.

For more insights, check out Google’s latest ecommerce report for additional data on Vietnam’s digital economy.