Top enterprises in terms of sales revenue on e-commerce in Vietnam

Vietnam E-Commerce and Digital Economy Agency (Ministry of Industry and Trade), has just named the top 20 leading enterprises in terms of e-commerce sales revenue in The White Book on Vietnamese E-Business 2022. This group of businesses accounts for 65.7% market share in terms of e-commerce sales in Vietnam.


Accordingly, this top 20 has the presence of big players in the retail industry such as Con Cung, The Gioi Di Dong, FPT Retail, Viettel, BigC, Vinfast and businesses such as Nu Skin Vietnam, Oriflame Vietnam, Amway Vietnam, Unicity Marketing Vietnam, Express Delivery, HACOM, VNPAY, Hoang Anh, IO Media,...



Especially, FPT Retail has 2 websites in the top list of sales revenue on e-commerce platforms, namely fptshop.com.vn and nhathuoclongchau.com


FPT Retail is the abbreviation of FPT Digital Retail JSC, established in 2012. FPT Retail owns two retail chains, FPT Shop, F.Studio and a subsidiary company, FPT Long Chau Pharma JSC. By the end of 2021, the Long Chau pharmacy chain has surpassed 400 stores in 53 provinces and cities. Long Chau become the leading pharmacy chain in the retail pharmacy chain market with a market share of 45%.


According to business results in 2021, FPT Retail recorded a revenue of more than VND 22 trillion, an increase of more than 50% over the same period in 2020. Of which, the revenue of the FPT Shop chain accounted for more than 80% of total revenue.


Particularly, revenue from online sales of FPT Retail reached more than VND 6 trillion, up 21% compared to 2020 and accounting for 28% of total revenue.


After a long period of being affected by the pandemic along with the decline of the general market, by 2021, this company's profit after tax has grown significantly and reached a revenue of nearly 450 billion VND.


In the top 20 enterprises in terms of e-commerce sales revenue, there is also the presence of The Gioi Dong Joint Stock Company, a member of Mobile World Investment Corporation (MWG). The company operates two retail chains, thegioididong.com and Dien May Xanh (formerly known as Dienmay.com).

2020 is an extremely difficult year for the global economy and especially for the retail industry. This leads to a decline in business results in many businesses. In that context, although there was no growth in revenue, The Gioi Di Dong still reached more than VND 87 trillion and earned nearly VND 4 trillion in profit after tax.


By 2021, both revenue and profit of this retail chain will start to grow again. Specifically, net revenue increased by nearly 10% and profit after tax increased by 25% over the same period in 2020.





E-commerce website Vban.vn is one of the convenient payment solutions provided by Viet Nam Payment Solution JSC (VNPAY), a leading company in the field of electronic payment in Vietnam. The services provided on Vban.vn include phone top-up, prepaid card code purchase, bill payment, airline ticket purchase, credit loan payment.


This 2nd "Tech unicorn" of Vietnam has a fantastic growth rate as revenue grows continuously. Specifically, in 2021, VNPAY recorded a gain of more than 22 trillion VND, an increase of more than 25% compared to 2020.


In 2019, due to the rapid increase in selling and administrative expenses, VNPAY only reported a profit of more than 35 billion VND (only about 25% of the 2018 profit). However, by 2020, the profit after tax of this “Unicorn” has grown again and the profit after tax is nearly 320 billion VND in 2021, an increase of nearly 90% compared to 2020.

bigc.vn is a sales website of EB Service Co., Ltd (BigC Vietnam System). This is a brand under Central Retail. Central Retail's three core businesses in Vietnam include Food, Non-Food and Real Estate Development/Shopping Center, which offers customers a variety of experiences through the Company's brands such as GO Mall, GO! Hypermarket, Tops Market, Big C, go!, Lan Chi Supermarket, Nguyen Kim, SuperSports, LookKool, Kubo, BipBip, and Robins.


After a period of continuous growth, by 2021, the business situation of this retail chain has slowed down. Specifically, the revenue of this system reached nearly 16 trillion VND (down nearly 5% compared to 2020). This retail chain even reported a loss of more than 100 billion VND by the end of 2021.


Viettel Store retail chain belongs to the sales system of Viettel Commerce And Import-Export Limited Company, specializing in providing all high-tech equipment and products including mobile phones, laptops, tablets, devices medical equipment… Official online sales website viettelstore.vn was launched in 2009 with thousands of products that are constantly updated to meet the online shopping needs of customers nationwide.


In the context of the covid-19 pandemic, people's purchasing power decreased sharply, Viettel Store was also affected when revenue slowed down in 2020. However, this retail chain brought in nearly 120 billion VND profit after tax.


Viettel Store has launched many new business programs and sales methods suitable to the situation, especially online sales. This has helped the Viettel Store system bring in revenue of nearly 19 trillion VND (an increase of more than 70% compared to the same period in 2020) and profit after tax of more than 180 billion VND.


esale.zing.vn is an online sales system owned by VNG Corporation (Vietnam's first Tech Unicorn). VNG provides 4 main product lines: Online Games, Connecting Platforms, Electronic Payments and Cloud Computing Services.


In the context of many businesses being heavily affected by the covid-19 pandemic, VNG still reported a profit in 2020. Accordingly, the net revenue of this unicorn reached more than 6 trillion VND (an increase of over 15% compared to 2019) and earned more than 190 billion in profit after tax (a decrease of nearly 60% compared to 2019). Although there is a decrease in profit compared to previous years, this is a remarkable effort.


By the end of 2021, although VNG's revenue increased by nearly 30% compared to 2020, the company reported a loss of more than 70 billion VND in after-tax profit.


Website concung.com is an online sales website of Con Cung JSC. The company operates mainly in the field of developing retail chain systems for mothers & babies. In addition, Con Cung also researches and produces safe, quality products for children.


In 2020, when many businesses struggled with the outbreak of covid-19, this mother and baby store chain still grew with sales of nearly VND 3.8 trillion and profit after tax of nearly VND 70 billion (an increase of nearly 5 times compared to 2019).


Continuing to promote and expand online sales, as well as implementing an omnichannel sales strategy, this retail chain has earned nearly VND 5.8 trillion (an increase of more than 50% compared to 2020) and achieved a profit after tax of nearly 90 billion VND.



iPay.vn is an online shopping and bill payment website provided by IO Media Joint Stock Company (IO MEDIA). Through this website, users can transact anytime, anywhere and enjoy the most competitive discounts.


In the period from 2017-2021, IO Media's revenue increased continuously and reached nearly 5.2 trillion VND in 2021. However, in 2021, this business has a slowdown in profit after taxes compared to previous years.


Along with the development of e-commerce, the delivery market has also become explosive. Express Delivery is one of the first players in this market. Express Delivery Service Corporation was born in 2012. Up to now, Giao Hang Nhanh serves more than 300,000 orders across the country every day.


In 2020, Express Delivery's business results do not seem to be positive compared to previous years. Accordingly, net revenue was just over 1.9 trillion VND, down nearly 9% compared to 2019. Profit after tax was also negative.


By 2021, Express Delivery has recovered and has a better business situation. Specifically, this player's revenue reached nearly 2.5 trillion VND and profit was nearly 13 billion VND in after-tax profit.


Amway Vietnam was established in 2008. In Vietnam, Amway provides 4 main product lines with more than 70 products, including Nutrilite, Artistry, Personal Care, Amway Home.


As one of the multi-level sales businesses, Amway has earned thousands of billions of dong per year. In 2021, Amway earned a profit after tax of nearly VND 60 billion, an increase of nearly 25% compared to 2020.


Like Amway Vietnam, Oriflame, along with Nu Skin and Unicity Vietnam, are foreign enterprises selling goods under the multi-level model.


In 2020 and 2021, both Oriflame and NuSkin have a decline in revenue. Accordingly, Oriflame's net revenue in 2021 is nearly 800 billion VND (down more than 20%) and NuSkin's revenue is more than 470 billion VND (down nearly 30%).


Meanwhile, Unicity Vietnam is in the growth phase. The revenue of this multi-level company has touched more than 1 trillion VND by the end of 2021, increasing by nearly 25% in revenue and nearly 98% in profit after tax.


Established in 2018, Edupia is the leading brand in the field of Edtech in Vietnam. After 4 years of operation, Edupia now has hundreds of thousands of students in Vietnam and Southeast Asia. Edupia is also honored to receive the Best Digital Application award in the field of training in 2018.


After being founded, Edupia began to enter a period of great development. With a revenue of nearly 3 billion VND when it was first established, up to now, after nearly 5 years of operation, this company has brought in a revenue of more than 150 billion VND (up more than 135% compared to 2020).

META Online Network Joint Stock Company currently owns a system of leading websites in Vietnam: Quantrimang.com, Download.vn, Vndoc.com, Hoatieu.vn, Gamevui.com and META.vn.


META.vn is an online shopping website with nationwide sales and delivery services with tens of thousands of products in many fields such as Household appliances, tools, medical and health equipment, sports, travel, digital devices, office equipment, mother and baby,...


Up to now, the business situation of this company is on the way to growth and development. Revenue increased continuously and reached more than VND 250 billion in 2020, an increase of more than 20% compared to 2019 and earned nearly VND 12 billion in profit after tax.

In the list of top 20 leading enterprises in terms of e-commerce sales, there are also the appearance of a big man in the retail industry - VinFast and the sales website of Hoa Binh Minh Auto Joint Stock Company - Binh Phuoc branch. This is a distributor of Honda cars in Vietnam.


In addition, there was also the presence of Hoang Anh Flavors And Food Ingredients Company Limited, a reliable supplier of food ingredients and flavors, and Hanoi Computer Joint Stock Company, now a HACOM Technology Investment JSC (HACOM) operates mainly in the retail sector of computer products and office equipment. HACOM is in the Top 500 Fastest Growing Enterprises in Vietnam 2021 (FAST500) recognized and awarded by Vietnam Report.


Accordingly, the company's net revenue grew continuously, most obviously in the period from 2017 to 2021. In 2021, HACOM's revenue is more than 1.3 trillion VND, up more than 50% compared to 2020.


Also according to The White Book on Vietnamese E-Business 2022, the revenue of sales from e-commerce websites/apps comes from directly/agents selling goods and services (accounting for 92.4%) and from advertising (accounting for 15.9%).


It can be seen that selling on e-commerce platforms also brings businesses a certain amount of revenue. Especially in the context of e-commerce constantly developing as well as the increasing demand for online purchases of today's consumers.


The e-commerce market in Vietnam in particular and the world in general is growing day by day. The fact that businesses have gradually shifted from traditional business to e-commerce business, or doing business in the form of multi-channel will contribute to increased competitiveness for businesses. At the same time, businesses also need practical solutions to develop online sales through e-commerce platforms.