Vietnam’s e-commerce market is growing rapidly, supported by a young and digitally literate population, increasingly widespread internet access and the growing integration of social media into everyday life. These factors make Vietnam a strategic destination for Italian small and medium-sized enterprises (SMEs) seeking to expand their presence in Southeast Asia’s digital market.
With a fast-growing economy and a constantly evolving business environment, Vietnam offers significant opportunities for Italian SMEs, particularly in sectors such as fashion, electronics, consumer goods and food products. Key trends shaping the market include social commerce, the adoption of digital payments and cross-border trade.
The increasing connectivity of the population and growing interest in online shopping provide Italian SMEs with an opportunity to enter an emerging market with considerable growth potential.
Key Trends in Vietnam’s E-commerce Market
Vietnam’s e-commerce sector is expanding rapidly and was expected to grow by a further 35% by the end of 2024, strengthening its position as one of Southeast Asia’s leading markets. This growth is being driven by high levels of digital literacy, rising incomes and an expanding middle class.
In addition, social commerce, which integrates shopping directly into social platforms such as Facebook and TikTok, is becoming increasingly common among Vietnamese consumers. At the same time, the development of digital banking is facilitating fast and convenient payments.
This evolution, combined with the strong presence of platforms such as Shopee, Lazada and TikTok Shop, makes Vietnam an attractive market for companies looking to expand their online business.
Main E-commerce Platforms in Vietnam
Vietnam’s e-commerce market includes several major platforms competing intensively for market share, each with its own distinctive strengths.
- Shopee: A market leader, Shopee is known for its dynamic marketing campaigns and interactive user experience. Launched in 2016, it has attracted millions of consumers thanks to an efficient platform, a broad product range and frequent flash sales. Despite some challenges related to delivery times and customer service, Shopee continues to dominate the market, accounting for 67.9% of GMV.
- Lazada: One of the longest-established platforms, Lazada benefits from a strong logistics network backed by the Alibaba Group. It offers a broad range of products and generally reliable delivery services, although its user interface can sometimes appear complex. It remains a popular choice among consumers looking for a reliable service.
- Tiki: Originally launched as an online bookstore in 2010, Tiki has since diversified its offering, focusing on quality and customer service. Its TikiNow express delivery option offers delivery within just a few hours. Tiki is appreciated for its personalised shopping experience and reliability.
- Sendo: A community-oriented platform, Sendo stands out for its focus on SMEs and local promotions. With strong links to Vietnamese consumer preferences, it is particularly popular in rural areas.
- TikTok Shop: A more recent entrant to the market, TikTok Shop has quickly gained popularity among younger consumers by combining short-form video content with e-commerce features, reflecting the rapid growth of social commerce. The platform has transformed online shopping into a more interactive and engaging experience.
- The Gioi Di Dong (Mobile World): Originally an electronics retailer, the company has expanded into e-commerce with a particular focus on mobile devices and technology. Its website provides a streamlined shopping experience for technology consumers.
Together, these platforms reflect the diversity and innovation of Vietnam’s e-commerce market, meeting different consumer needs through a range of offers and business models.
Opportunities for Italian Companies in Vietnam’s E-commerce Market
Expanding into B2B E-commerce
While B2C e-commerce is already well established, the B2B market remains at an earlier stage of development but offers significant growth prospects.
Vietnam’s position as a manufacturing hub, with strong specialisation in electronics, footwear and consumer goods, makes it an attractive partner for Italian companies seeking to diversify their supply chains through a “China Plus One” strategy.
Trade agreements such as the EU-Vietnam Free Trade Agreement (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP) provide significant advantages by reducing tariffs and facilitating cross-border trade.
Italian SMEs can take advantage of these favourable conditions to develop B2B-focused e-commerce platforms and solutions, building on Vietnam’s manufacturing strengths.
Leveraging Digital Payments
In Vietnam, 63% of transactions are now carried out using cashless payment methods, while QR code payments increased by 900% in 2024.
This trend, encouraged by government initiatives, provides Italian companies with an opportunity to implement innovative digital payment solutions.
Working with local fintech companies or e-commerce platforms that integrate e-wallets and bank transfers can improve the purchasing experience for Vietnamese consumers.
Adopting modern payment systems can not only enhance transaction security but also strengthen customer trust in the brand.
The Rise of Social Commerce
The growth of social commerce is transforming the Vietnamese market by integrating direct shopping features into platforms such as TikTok, Facebook and Instagram.
This trend is particularly strong among younger consumers, who increasingly use social media both to discover and purchase products.
Italian companies can take advantage of this opportunity by creating engaging content, working with local influencers and adopting video-based marketing strategies to promote their products.
Social commerce, which was expected to reach a market value of USD 4.5 billion by the end of 2024, represents an important channel for entering the Vietnamese market.
Expanding Cross-Border Trade with China and ASEAN
Thanks to its strategic geographical position and solid infrastructure, Vietnam is a natural hub for cross-border trade within the ASEAN region.
With annual cross-border trade growth of 20%, the country is well positioned to serve neighbouring markets such as China, Thailand and Cambodia.
Government investments in digital infrastructure, including the National Digital Transformation Programme, are helping to simplify customs procedures and improve connectivity.
Italian companies can take advantage of these initiatives to broaden their reach across the region and access an increasingly connected consumer base.
Adapting to Local Payment Preferences
Despite the growth of digital payments, cash on delivery (COD) remains a popular payment method, particularly in rural areas.
To succeed in the market, Italian companies should therefore provide a diverse range of payment options, including both digital solutions and COD, in order to meet different consumer preferences.
Conclusion
Vietnam represents one of the most promising destinations for Italian SMEs within the international e-commerce landscape.
With sustained economic growth, expanding digital infrastructure and a young, technologically connected population, the country offers significant opportunities for Italian companies able to take advantage of emerging trends and maximise their growth potential in the Vietnamese market.
At the same time, entering Vietnam’s e-commerce market requires a thorough understanding of local trends, consumer preferences and the opportunities offered by digital platforms.
By adopting a strategic and technology-driven approach, Italian SMEs can create opportunities for growth and expansion in a dynamic and rapidly developing market.