E-commerce intelligence firm YouNet ECI has officially released the Vietnam E-commerce Landscape & Consumption Insights Report 2025. The report highlights a paradox: while online spending continues to grow strongly, the era of “easy growth” has ended, forcing brands into a period of rigorous market filtration.
The report updates multi-industry e-commerce revenue figures continuously collected and processed by YouNet ECI from four platforms: Shopee, TikTok Shop, Lazada, and Tiki, accompanied by in-depth analysis from YouNet ECI’s market research experts.
Now in its third year, the 2025 edition also marks the first time survey data on Vietnamese consumer needs and behaviors on online channels—conducted by YouNet ECI and Buzzmetrics—has been published.
By combining these three elements, YouNet ECI’s Vietnam E-commerce Revenue & Consumption Report 2025 serves not only as a summary of the past year but also as a compass for retailers, brands, and investors regarding opportunities, risks, and essential factors for their 2026 e-commerce business strategies.
Vietnam E-commerce 2025: 26% Growth
According to YouNet ECI data, 2025 recorded a total Gross Merchandise Value (GMV) of 458.16 trillion VND across Shopee, TikTok Shop, Tiki, and Lazada, representing a 26% increase year-on-year. This pace outstripped the general growth of the retail and consumer services sector (+9.2% according to the Statistics Bureau).
GMV grew steadily across key sectors, with the fastest increases seen in FMCG (+38%) and Fashion & Accessories (+34%). With this result, FMCG has officially overtaken Beauty to become the second-largest category in the e-commerce landscape, trailing only Fashion & Accessories (Beauty now ranks third).
Despite price hikes due to platform fees in the second half of 2025, FMCG maintained consumption volumes equivalent to the same period in 2024. Purchasing everything from instant noodles to diapers online is no longer just a trend; it has become a habit.
Warning Signs in Q4/2025: Rising Prices, Falling Volumes
Despite the positive overall picture for 2025, Q4/2024 data has flashed the first warning signals.
Consumption volume on e-commerce platforms recorded an 8% decrease compared to the same period last year. The primary cause was identified as a sharp increase in Average Selling Price (ASP) across all four platforms, averaging +33% compared to Q4/2024.
This price hike is an inevitable reaction from businesses facing a series of continuous platform fee increases throughout 2025.
Simultaneously, the online consumer survey conducted by YouNet ECI and Buzzmetrics in Q4/2025 showed high price sensitivity.
The research surveyed Gen Y (Millennials) and Gen Z regarding their optimism about the domestic economy:
- Gen Y (Millennials): Appeared cautious (36% neutral, 45% positive).
- Gen Z: More optimistic, with 64% feeling positive about the current economic situation. However, this group is constrained by financial capacity, as 64% have a household income below 30 million VND/month.
With prices rising while Gen Y remains cautious and Gen Z faces income limits, the decline in year-end consumption volume is unsurprising.
2026 Forecast: Strong Filtration – Opportunities for Brand Shops Amidst Price Pressure
Projections for 2026 suggest that platform fees will continue to pressure selling prices. However, challenges always bring opportunities. The market is witnessing the exit of small-scale, low-capital sellers or those selling non-authorized goods.
The total number of active sellers with revenue on these platforms decreased by 5.6% year-on-year (to approximately 672,000 sellers), yet revenue per seller increased by 33%. This indicates a powerful ongoing filtration process in e-commerce. Growth is increasingly concentrating in the hands of major sellers, brands, and official distributors.
The withdrawal of small sellers presents a golden opportunity for professional brands and retailers to acquire customers from those leaving the platforms, while simultaneously converting these sellers into affiliate marketing partners.
Commenting on the 2026 strategy, Mr. Nguyen Phuong Lam, Director of Consulting at YouNet ECI, shared:
“In 2026, Vietnam’s e-commerce will continue to see double-digit growth; however, the complexity of Vietnamese consumer behavior presents both opportunities and challenges.”
“The era of easy growth by pouring money into advertising is over. Brands now need to focus on synchronization across channels and continuously monitor industry movements— especially those of competitors and retail chains to identify real growth opportunities.”
To get the full picture of Vietnam e-commerce in 2025, access Vietnam E-commerce Landscape & Consumption Insights Report 2025 here: https://youneteci.com/bao-cao-doanh-thu-cac-san-tmdt-2025/?utm_source=MMA&utm_medium=post-to-PR&utm_campaign=report-FY-25&utm_content=press_release
