According to a study by Metric, a prominent e-commerce research firm, the beauty, women’s fashion, and home and lifestyle sectors maintained their dominance in terms of revenue and sales volume on Vietnam’s major e-commerce platforms in the first half of 2024. This insight is based on an analysis of shopping behavior data from popular platforms such as Shopee, Lazada, Tiki, Sendo, and Tiktok Shop.
POPULAR PRODUCTS AMONG VIETNAMESE ONLINE SHOPPERS
Notably, the affordable segment of products priced below 200,000 VND continues to captivate consumers, witnessing a 3% market share increase compared to the same period last year. With the current economic fluctuations, many households adopt a “tighten our belts” mentality, leading to a preference for reasonably priced goods that align with their budgets.
The first half of 2024 also showcased the dominance of well-known brands in the phone and tablet sector within Vietnam’s e-commerce landscape. Out of the top 10 brands by revenue, four belonged to this sector, including household names such as Apple, Samsung, and Xiaomi. This underscores the robust demand for technology products among Vietnamese consumers.
Furthermore, Honda’s presence in the list underscores consumers’ trust and willingness to invest in high-value products through online platforms. The development of logistics infrastructure and the rise of online payment services have fostered a conducive environment for this shopping trend.
Vinamilk stands as the sole Vietnamese brand in the top 10, indicating the fierce competition within the e-commerce landscape. This highlights the need for local brands to devise more nuanced business strategies to enhance their competitiveness on these platforms in their home market.
In the beauty sector, Cocoon stands out as the only Vietnamese brand among the top 5 revenue-generating brands across the five e-commerce platforms. This underscores the brand’s success in a highly competitive industry.
While the first half of 2024 witnessed the dominance of phones, tablets, beauty products, women’s fashion, and home and lifestyle goods, the third quarter of 2024 is expected to be led by beauty products, summer fashion, stationery, and Mid-Autumn Festival cakes, which are projected to experience significant growth.
STATIONERY SALES FORECASTED TO SOAR LATER IN Q3 2024
The back-to-school season, spanning late August to early September, presents a golden opportunity for the stationery industry on e-commerce platforms. In recent years, sales in this category have surged during this period.
August 2023 statistics revealed a staggering 254 billion VND in sales for the stationery sector, marking a 24% increase compared to the previous month. Consumers eagerly purchased pens, books, and art supplies in preparation for the new school year, injecting unprecedented vibrancy into the market.
The stationery industry’s sales will predominantly concentrate on the affordable segment, with products priced below 50,000 VND accounting for over half of the total sales and more than 90% of the total volume. Popular items among consumers will include various types of pens, notebooks, and paper.
Deli and Casio have consistently held the top two spots in the brand rankings. Additionally, Vietnamese brands have made their mark, with Deli, Thiên Long, Klong, Nakapos, and Hộp Carton HT securing spots in the top 10, alongside brands from Japan, Indonesia, and other countries.
Projections for the third quarter of 2024 anticipate a total sales revenue of 829.6 billion VND for the stationery industry on Shopee, accompanied by 44.4 million units sold. These figures represent increases of 32% and 42%, respectively, compared to the second quarter of 2024.
The scorching heat of July and August spurs a heightened focus on skincare, resulting in substantial growth in both sales and volume for facial skincare products.
In 2023, sales of facial skincare products began to climb during the early summer months but experienced an even more significant surge toward the end of summer, with July and August witnessing the highest sales peaks. Overall, the last two months of summer witnessed a 28% increase in sales compared to the first two months of the season. This can be attributed to the intense heat, coupled with an increase in travel and team-building activities during this period.
The top four product categories by sales were essence, cream, sunscreen, and facial cleanser, which also happened to be the top four by volume, second only to the face mask category.
Within the facial skincare segment, the price range of 200,000 to 350,000 VND captured the majority of sales, surpassing the average price range of the broader beauty industry. This can be attributed to consumers’ willingness to invest in higher-quality facial skincare products, demonstrating their readiness to spend more on items that directly impact their skin health and appearance.
For the third quarter of 2024, the facial skincare industry on Shopee is projected to attain a total sales revenue of 3,186 billion VND, with 23.9 million units sold. These figures translate to increases of 12.2% and 20.3%, respectively, compared to the second quarter of 2024.
The most extensive bribery case ever in Thanh Hoa: Numerous suspects prosecuted for “Giving and Receiving Bribes”
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Accelerating disbursement of the 120 trillion VND credit package for social housing
Deputy Prime Minister Trần Hồng Hà has recently issued directives regarding the implementation of the 120,000 billion VND credit package for investors and buyers of social housing, workers’ housing, and projects for the renovation and construction of apartment buildings.
“Prosecution of government officials, land registration officers, and tax department employees in the largest bribery case ever”
The Thanh Hoa Police Investigative Agency has initiated legal proceedings against 23 individuals involved in the crimes of “Bribery” and “Receiving bribes”. This is the largest bribery case in terms of the number of suspects ever discovered and apprehended by the Thanh Hoa Police.
Mobile World achieves revenue of VND118,000 trillion: TVs, tablets, and phones all decrease by 10% – 50%, while one product grows in both quantity and revenue.
Mobile World Investment Corporation (MWG) has recently announced its 2023 business results. According to the report, the company’s consolidated revenue reached over 118 trillion Vietnamese dong, equivalent to 89% of the revenue in 2022.
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