Vietnam E-commerce Market Size & Share Analysis - Trends, Drivers, Competitive Landscape, and Forecasts (2025 - 2032)

Vietnam's e-commerce market is experiencing significant growth, driven by increasing internet penetration, a young and tech-savvy population, and the widespread adoption of smartphones. In 2024, the market was valued at USD 16.5 billion and is projected to reach USD 35.5 billion by 2032, growing at a CAGR of 10.2% during the forecast period.

This expansion is supported by government initiatives to promote digital transactions and reduce reliance on cash, with a goal of achieving 50% cashless payments in online shopping by the end of 2025. The rapid rise of mobile and social commerce platforms such as TikTok Shop, Shopee, and Lazada has transformed consumer shopping behaviors, offering highly personalized and convenient online experiences.

Key Insights

The growing preference for digital wallets highlights a national shift toward cashless transactions, enhancing both the speed and security of online purchases.

The hybrid business model that blends online and offline retail approaches is the fastest-growing segment, offering consumers flexible shopping options and expanding brand reach.

The market's fragmented landscape-comprising both domestic and international players-encourages competitive pricing, continuous innovation, and elevated customer service standards.

Increasing urbanization and a rising middle class with improved purchasing power are driving demand for user-friendly, reliable, and feature-rich e-commerce platforms.

New regulations requiring overseas e-commerce platforms to register locally and comply with tax obligations are creating a more level playing field for domestic enterprises.

The expansion of cross-border e-commerce is enabling Vietnamese consumers to access a broader selection of goods with competitive pricing from global platforms such as Amazon, Temu, and AliExpress.

Social commerce, especially on platforms like TikTok Shop, is gaining traction by combining influencer marketing with short-form video content to boost consumer engagement and drive conversions.

Artificial intelligence is playing a pivotal role in enhancing e-commerce operations by enabling personalized product recommendations, optimizing logistics, and improving customer service.

A growing consumer focus on sustainability is prompting e-commerce companies to adopt green practices including eco-friendly packaging and sustainable sourcing initiatives.