The total transaction value on Shopee, Lazada, TikTok Shop and Tiki in November was more than 31,915 billion VND, of which two-thirds were "locked" at Shopee.
Data is provided by the EcomHeat e-commerce data platform under YouNet ECI, through collection, processing and analysis from 2.6 million online stores, covering all 4 multi-industry online platforms: Shopee, Tiki, Lazada and TikTok Shop.
Vietnamese people's spending on online shopping increased last month due to many year-end shopping stimulus activities, the biggest being the singles day "super sale" on November 11.
In terms of market share, Shopee leads with 72.7%, equivalent to 22,670 billion VND.
TikTok Shop and Lazada have market shares of 17.2% and 9% respectively, but dominate in different product groups.
Meanwhile, Lazada is strong in high-value products.
For that reason, TikTok Shop ranks lowest in terms of average product value.
Behind the positive stimulus month of e-commerce platforms in the past peak month, at least two popular strategies were utilized by the platforms.
Firstly, sales via livestream continue to explode.
On November 11 alone, the total number of live viewers increased 11 times compared to normal days. On average, a seller on the floor conducted a livestream for up to 7 hours, increasing the number of products sold through Shopee Live by 44 times.
The "runner-up" TikTokShop itself also rose up with one of its "trump cards" being livestream sales. According to the first half of 2023 report, this exchange said that the community of sellers and content creators - the force capable of leading livestream sessions, grew by 210% and 330% respectively.
A livestream session of the OCOP sales livestream festival in Can Gio, Ho Chi Minh City in October. Photo: TikTokShop
The livestream format also expands output effectively for a number of industries.
This result is partly due to the fact that fashion & accessories and beauty are benefiting greatly from livestream sales thanks to the growth of TikTok Shop and Shopee's recent bold investments in Shopee Live, according to YouNet ECI.
Monday, the form of affiliate marketing (Affiliate Marketing) flourished.
Shopee said affiliate marketing is becoming one of the lifting tools
Effectively increase sales in promotional campaigns.
On November 11, the number of active KOL Affiliates increased 79 times.
Regarding the upcoming prospects, Visa's Green Shoots Radar study revealed some optimistic signals.
Thanks to that, 55% intend to spend more in 2024. However, the majority of Vietnamese people still plan to set aside a larger budget for savings purposes.
Telecommunications – VnExpress
