Tiêu đề [METRIC] Online retail market report Q3.2024.pdf ✅

Online Retail Market Report on Q3/2024 offers a comprehensive overview of the top five e-commerce marketplaces in Vietnam: Shopee, Lazada, Sendo, Tiki, and TikTok Shop. The latest data will help businesses better understand the market dynamics and development trends, allowing them to seize opportunities and tackle challenges while building sustainable and effective business strategies. In the rapidly growing and increasingly competitive landscape, this report serves as a vital tool for informed business decisions. The report's main content includes detailed insights into market size and growth, price segments, and standout sectors and brands in Q3/2024, along with an analysis of key product categories. In addition, the report provides forecasts on consumer trends and growth projections for Q4/2024, helping businesses promptly adjust strategies and optimize operations. To provide a comprehensive and in-depth perspective, beyond raw data, the report delves into key factors such as consumer behavior and market fluctuations. The report's research methodology is built on the collection and analysis of data from various sources. We utilize Big Data analytics tools and artificial intelligence (AI) to process and compile information, ensuring the accuracy and comprehensiveness of the report. Data collected spans from July 1, 2024, to September 30, 2024; products in service categories, promotional gifts with abnormal sales that don't align with customer feedback, and ghost orders are excluded, along with products sold through livestream sessions. Additionally, the report references and incorporates third-party data, with all sources clearly cited to ensure transparency and reliability. Metric team FOREWORD
DATA COLLECTION & ANALYSIS METHODOLOGY Scope of the marketplaces Data collection period Scope of product categories Key metrics • 5 e-commerce marketplaces: Shopee, Lazada, Tiktok Shop, Tiki, Sendo, and • Over 100,000 e- commerce websites. Daily data collection from January 1, 2021, to present All product categories generating sales on e- commerce marketplaces • Sold Quantity • Gross Merchandise Volume (GMV) = product price * quantity sold • Number of Shops: active sellers on the marketplaces • Price Segments, Brands, etc.: for each product • Product Information History Big Data collection from e-commerce marketplaces and websites Data Collection Data cleansing, analysis, and systematization of data points Data cleansing Calculation of basic statistical metrics. Categorization analysis by industry, product groups, (SKUs), etc. Data analysis CConvert data from numerical form to tabular format for easier identification of trends and key information. Data visualization Data analysis software Metric.vn eReport platform In-Depth Online Retail Market Research Report Market data on demand Certificate of Top 1 Best- Selling Brand
1. Chinese e-commerce marketplaces are making moves to strengthen their presence in the Vietnamese market Temu has recently officially entered the Vietnamese market, while the 1688 e-commerce app's iOS version now supports the Vietnamese language. Taobao, Alibaba's e-commerce marketplace, has not yet supported Vietnamese; however, it has allowed shipping to users' addresses in Vietnam. These moves are increasing competitive pressure in the domestic market, which has already been dominated by foreign marketplaces like Shopee, Lazada, and TikTok Shop KEY HIGHLIGHTS 3. TikTok Shop and Shopee continue to be the two marketplaces with positive growth. Tiki has shown improvement compared to the previous quarter TikTok Shop and Shopee recorded growth rates of 110.6% and 11.3% in sales compared to the same period in 2023, and 34.7% and 16.7% compared to the previous quarter, respectively. Although Tiki still experienced negative growth compared to the same period in 2023, it showed improvement from the previous quarter with a 38% increase in sales 5. Bear Milk and Labubu Toys are two standout products with notable growth on the e-commerce marketplace in Q3 Bear Milk suddenly surged in popularity starting from July 2024, driven by nostalgia and social media buzz, while Labubu Toys gained traction mainly due to their unique design. Sales of Bear Milk and Labubu Toys on e-commerce marketplaces also saw significant growth from July, reaching 6.14 billion VND and 6.9 billion VND, respectively, by the end of Q3, representing growth rates of 687% and 741% compared to Q2. 2. Purchasing power in Q3 recovered compared to Q2; however, sales saw a slight decline in the final month of the quarter In the first nine months of 2024, sales volume increased each quarter but not uniformly. Q2 saw a slight growth of only 0.7%. By Q3/2024, purchasing power had recovered more positively, with growth of 18.15% compared to Q2/2024. The scale of the five e-commerce marketplaces in Q3/2024 grew by 15.89% and 28.84% compared to the same period in 2023. August was the peak month for sales in the quarter, followed by a slight decline of about 7% in September. 4. Sales of Mall shops experienced strong growth, with TikTok Shop growing three times faster than Shopee The number of Mall shops and sales of Mall shops both recorded growth compared to the same period in 2023, with sales increasing by 53.11%. Although TikTok Shop's growth in the number of Mall shops is lower than that of Shopee, it has seen sales growth three times that of Shopee. 6. Product categories are expected to see strong growth: Beauty, Fashion, and Home & Lifestyle in Q4/2024 Q4 is a period with many holidays and the busiest shopping season of the year, especially at the end of the quarter with the shopping season in preparation for Tet, where all product categories are expected to see strong growth: Beauty, Fashion, and Home & Lifestyle.