Facing the explosion of TikTok in both social networking and e-commerce, an "alliance" between big brands is gradually forming in Vietnam, including YouTube, Facebook and Shopee.
On September 17, Alphabet, parent company of YouTube, has partnered with the e-commerce platform Shopee to launch an online shopping service called YouTube Shopping in Indonesia. Google does not directly sell this service but cooperates with regional partners.
Last year, YouTube began planning to apply for a license to operate in the field of e-commerce in Indonesia.
Around the same time, a similar feature was also implemented Facebook. TikTok Shop. Meta officially announced a series of new features to improve sales activities on Facebook livestream in Vietnam.
Before the above changes, Facebook is expected to join the race when it cooperates with Shopee in Vietnam to provide similar features on YouTube, thereby opening up more opportunities for sellers to reach customers and increase revenue. Shoppertainment (A form of shopping combined with entertainment) that their main competitor is dominating.
In general, the social network and e-commerce market in Vietnam is witnessing major fluctuations with the rapid development of TikTok and the Shoppertainment sales model.
At the end of 2023, Shopee quickly launched the Shoppertainment model.
Specifically, Shopee is positioned as a sales application, where users often enter for the purpose of shopping or looking for promotions.
According to data from Decision Lab, Facebook and YouTube are 2/3 of the most popular social networking platforms in Vietnam. 66%, much lower than Meta and Google's apps.
Besides, the exclusive distribution algorithm along with a large number of viewers has created a new generation of content creators at TikTok Vietnam.
Currently, TikTok Shop's market share is skyrocketing in the region, especially after dominating Indonesia's largest e-commerce platform, Indonesia. Tokopedia. Momentum Works, TikTok Shop records the total value of the goods (GMV) obtain 16.3 billion USD in Southeast Asia in 2023, increasing 4 times compared to the previous year.
According to the 2024 report of the market research company YouNet ECI, Shopee is currently leading the Vietnamese e-commerce market with more than 71% market share, far surpassing TikTok Shop with 22%. 172 million turns per month. Lazada of Alibaba Group Holding, as well as Shein and Temu of PDD Holdings.
Nhu Quynh_AdvertisingVietnam
