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Vietnam’s E-Commerce Market Grows 22%, with FMCG’s Taking the Lead
Vietnam’s e-commerce market continues to expand strongly, with gross merchandise value (GMV) reaching VND411.8 trillion (US$15.9bn) in 9M/2026, up 22% y/y, according to YouNet ECI. Growth picked up to 27% y/y in Q3, compared with 19% in H1/2026.
Beyond the headline growth, three trends are particularly noteworthy:
- TikTok Shop is rapidly challenging Shopee’s dominance. TikTok Shop’s GMV grew 38% y/y in 9M/2026, significantly outperforming Shopee’s 12% growth. TikTok Shop captured 45% of the market, compared with Shopee’s 53%, with their quarterly GMV gap narrowing to just VND4.3 trillion in Q3. This highlights the growing influence of content-driven commerce and livestream shopping in Vietnam.
- FMCG is emerging as a major growth driver. Online FMCG sales grew 26% y/y in 9M/2026 and 36% in Q3 alone, making it the fastest-growing category. Competitive pricing, frequent promotions and delivery convenience may be encouraging consumers to increasingly purchase everyday necessities online. This trend could gradually reshape Vietnam’s grocery retail landscape, creating new opportunities for consumer brands while intensifying competition for traditional and modern retailers.
- Consumers are placing greater emphasis on product quality. According to YouNet ECI, 74% of surveyed consumers prioritized product quality in Q3/2026, up from 53% in Q2, while 67% cited price as an important purchasing consideration. This shift may partly reflect heightened awareness following the government’s intensified crackdown on counterfeit and substandard products. Notably, Vietnam’s authorities removed more than 9,000 infringing product listings from e-commerce platforms in H1/2026.
Looking ahead, Vietnam’s e-commerce market is entering a more competitive and increasingly regulated phase. The new E-Commerce Law, effective July 2026, strengthens the regulatory framework for online businesses and platform accountability.
For retailers and consumer brands, the next stage of competition may increasingly depend not only on pricing and promotions, but also on product authenticity, reliable supply chains and the ability to build sustainable omnichannel businesses.
Read the full article from Tuoi Tre News
