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TikTok Shop is "munching on the delicious cakes" of Shopee and Lazada


Although TikTok Shop was only launched in early 2022, it has quickly increased its revenue market share from 3% in the third quarter of 2022 to 16% after one year, recording revenue of VND 10,122 billion.


TikTok SHop với Shopee, Lazada

A report recently published by Metric said that total revenue (NMV) on e-commerce platforms in the third quarter of 2023 reached VND 63,000 billion, up to 54.4% over the same period in 2022 and up 22.66%. compared to the previous quarter. This is a positive growth rate in the context of the economy in general and many industries in particular facing challenges. A total of 602 million product units were successfully delivered from 443,000 stores in the third quarter of 2023.


E-commerce platform revenue Q3/2023

E-commerce platform revenue Q3/2023
Source: Metric

Accumulated in the first 9 months of the year, revenue on e-commerce platforms in Vietnam reached 163,000 billion VND, with 1,576 million product units successfully delivered. This revenue is currently 7% higher than the achievement of the whole year 2022. According to Metric, e-commerce revenue in the past 9 months had a significant contribution from the "youngest brother" TikTok Shop with 25,000 billion VND.


In the third quarter of 2023, although revenue still grew and reached VND 43,713 billion, Shopee's market share in the entire e-commerce pie decreased to 69%, compared to 72% in the same period last year. Similarly, Lazada's revenue market share also decreased from 21% to 14%, reaching about VND 8,768 billion. Tiki decreased from 3% to only 1% market share.


Meanwhile, TikTok Shop, although only launched in early 2022, has quickly increased its revenue market share from 3% in the third quarter of 2022 to 16% after a year, recording revenue of VND 10,122 billion. TikTok Shop's total revenue is still quite far from Shopee but continues to widen the gap with Lazada, after surpassing Alibaba's "darling" for the first time in the second quarter of 2023.


Statistics on industries and brands show that Apple is the brand with the highest revenue in the third quarter, contributing 31% to the total market revenue. Followed by Samsung, Xiaomi, Ecovacs, Ensure, Sunhouse,...


E-commerce platform revenue Q3/2023
Source: Metric

Accumulated in the first 9 months of the year, revenue on e-commerce platforms in Vietnam reached 163,000 billion VND, with 1,576 million product units successfully delivered. This revenue is currently 7% higher than the achievement of the whole year 2022. According to Metric, e-commerce revenue in the past 9 months had a significant contribution from the "youngest brother" TikTok Shop with 25,000 billion VND.


In the third quarter of 2023, although revenue still grew and reached VND 43,713 billion, Shopee's market share in the entire e-commerce pie decreased to 69%, compared to 72% in the same period last year. Similarly, Lazada's revenue market share also decreased from 21% to 14%, reaching about VND 8,768 billion. Tiki decreased from 3% to only 1% market share.


Meanwhile, TikTok Shop, although only launched in early 2022, has quickly increased its revenue market share from 3% in the third quarter of 2022 to 16% after a year, recording revenue of VND 10,122 billion. TikTok Shop's total revenue is still quite far from Shopee but continues to widen the gap with Lazada, after surpassing Alibaba's "darling" for the first time in the second quarter of 2023.


(Theo Nhip song thi truong)


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