TikTok Shop Closes In on Shopee’s Share of Vietnam’s E-commerce Market
In the third quarter of 2026, TikTok Shop’s gross merchandise value in Vietnam rose 60% year on year, narrowing its gap with Shopee to VND 4.3 trillion. Analyses by two data firms show that their market shares are now very close, with competition centered on product categories and sales through videos and livestreams.
A report by e-commerce consultancy YouNet ECI shows that Shopee remained Vietnam’s largest multichannel retail e-commerce platform in the first nine months of 2026, but TikTok Shop rapidly narrowed the gap in the third quarter. Shopee’s gross merchandise value during the quarter was VND 74.4 trillion, up 8% year on year; TikTok Shop’s rose 60% to VND 70.1 trillion, leaving a gap of VND 4.3 trillion.
Data platform Metric estimates that the gap between the two platforms’ market shares narrowed from 14.3 percentage points in the third quarter of 2025 to 1.7 percentage points in the third quarter of 2026. Among the ten product categories with the highest transaction values, TikTok Shop led in six, including fashion and beauty; Shopee retained an advantage in the other four, including home appliances, home and living products, and phones and tablets.
Shopee’s and TikTok Shop’s market shares across the ten product categories with the highest transaction values in the third quarter of 2026, according to Metric.（VietVance）
YouNet ECI says short-form videos, livestreams and creator content drove TikTok Shop’s sales of fashion accessories and beauty products. Shopee retained an advantage in fast-moving consumer goods, with third-quarter transaction value of VND 15.9 trillion in the category, compared with TikTok Shop’s VND 12.5 trillion. Shopee is also adding tools for sales through livestreams and short-form videos, and competing through fee incentives and shorter delivery times.
Singapore venture capital firm Momentum Works previously estimated that sales generated through content such as videos and livestreams in Southeast Asia totaled US$49.7 billion in 2025, accounting for 32% of gross merchandise value on the region’s e-commerce platforms. YouNet ECI expects the transaction value gap between Shopee and TikTok Shop to narrow further from the fourth quarter of 2026 onward. Metric forecasts that the four platforms—Shopee, TikTok Shop, Lazada and Tiki—will have combined fourth-quarter transaction value of VND 165.5 trillion, more than 10% higher than in the third quarter; this remains a forecast, not sales already achieved.
Source: VietVance
