After the boom, Vietnam’s e-commerce market becomes a tougher game

In 2025, Shopee and TikTok Shop recorded mall revenue shares of 33.95 per cent and 31.52 per cent, respectively, while LazMall contributed 59.7 per cent of Lazada’s revenue. - Tiktok via VN/ANN

HANOI: After a decade of rapid expansion fuelled by subsidies and deep discounts, Vietnam’s e-commerce market is entering a more disciplined era, as platforms raise fees and regulators tighten oversight.

Following a decade of strong expansion in users, products and transaction volumes, major platforms are gradually retreating from the cash-burning strategy previously used to compete for market share.