TikTok Shop Closes In on Shopee’s Lead in Vietnam’s E-Commerce Market
In the third quarter of 2026, the gap between TikTok Shop and Shopee in Vietnam narrowed to VND 4.3 trillion in gross merchandise value and 1.7 percentage points in market share. TikTok Shop grew rapidly in categories including fashion and beauty, intensifying competition between the platforms.
In the first three quarters of 2026, Shopee remained Vietnam’s largest general retail e-commerce platform. Data from e-commerce growth consultancy YouNet ECI showed that Shopee’s gross merchandise value reached VND 74.4 trillion in the third quarter, up 8% year on year, while TikTok Shop’s reached VND 70.1 trillion, up 60%. The gap narrowed to VND 4.3 trillion.
Data platform Metric calculated that the market share gap between the two platforms fell from 14.3 percentage points in the third quarter of 2025 to 1.7 percentage points in the third quarter of 2026. Metric said the two platforms had become similar in market size.
According to Metric, TikTok Shop led in six of the ten categories with the highest gross merchandise value in the third quarter of 2026, including fashion and beauty. Shopee retained an advantage in the other four, including home appliances, home and living products, and phones and tablets. In fast-moving consumer goods, Shopee still led, with gross merchandise value of VND 15.9 trillion compared with TikTok Shop’s VND 12.5 trillion in the same period.
Shopee’s and TikTok Shop’s market shares in the ten categories with the highest gross merchandise value in the third quarter of 2026. Source: Metric.（VietVance）
YouNet ECI said short videos, livestreams and creator content helped TikTok Shop sell fashion accessories and beauty products. In a report published in September 2026, investment firm Momentum Works estimated that content-driven e-commerce sales in Southeast Asia reached US$49.7 billion in 2025, accounting for 32% of gross merchandise value on the region’s e-commerce platforms.
Looking ahead to the fourth quarter of 2026, YouNet ECI expected the gap in gross merchandise value between the two platforms to narrow further. Metric forecast that Shopee, TikTok Shop, Lazada and Tiki would generate a combined VND 165.5 trillion in gross merchandise value in the fourth quarter, up more than 10% from the third. YouNet ECI’s online consumer survey found that 74% of respondents cared about product quality, while 67% cared about price.
Source: VietVance
