The electronics retail industry in Vietnam is undergoing significant changes as major brands undertake robust restructuring. According to YouNet ECI, the total number of stores of large retail chains in the industry decreased from 4639 to 4312 in 2024, equivalent to 327 closed stores.
The Gioi Di Dong Boosts Revenue Through E-commerce
To optimize operating costs, The Gioi Di Dong (TGDĐ) closed a series of underperforming offline stores. The TGDĐ + TopZone report noted a reduction in stores from 1076 to 1021, while Dien May Xanh decreased from 2109 to 2026, and Nguyen Kim from 59 to 49.
This trend not only reflects TGDĐ’s restructuring efforts but also highlights the potential of e-commerce as a key channel to compensate for lost revenue. Data from YouNet ECI’s EcomHeat shows that in Q1/2025, TGDĐ Official on Shopee Mall achieved a revenue of VND 27.3 billion, a 144% increase compared to Q4/2024, despite the store only launching in May 2024. Similarly, Dien May Xanh Official on Shopee also recorded a 97% revenue growth during the same period.
MWG’s Q1/2025 business report showed positive results, with total net revenue reaching VND 36,091 billion, a 15% increase year-over-year. This revenue equals 24% of the annual plan, aiming for VND 150,000 billion in 2025.
In the revenue structure, Dien May Xanh and TGDĐ, including Topzone, contributed 44.2% and 23%, respectively. In Q1, the revenue of these two chains reached more than VND 24,200 billion, a 14% increase year-over-year, with online channels accounting for 6%. MWG attributed this growth to their refined operation model and improved business efficiency, resulting in a over 15% increase in average revenue per existing store.
Retail Chains Embrace E-commerce and Online Channels
According to YouNet ECI’s EcomHeat platform, in 2024, the revenue from the Electronics, Technology, and Telecommunications industry on four e-commerce platforms (Shopee, Lazada, Tiki, and TikTok Shop) accounted for 15% of the total industry revenue. Moreover, the industry’s e-commerce revenue grew by 41% compared to 2023, with Air Conditioners leading the growth at 76%, followed by Small Electrical Appliances at 58%.
The report “Vietnam e-Commerce Intelligence 2025” by YouNet ECI forecasts a positive outlook for the industry’s development on the e-commerce channel in 2025. Based on the online shopping habits and spending behavior of Vietnamese consumers, the platform predicts that the Electronics and Electrical Appliances category could achieve a total revenue of up to VND 70,000 billion on e-commerce platforms this year.
With increasing consumer demand, the performance of authorized dealers is also improving on e-commerce platforms.
Additionally, according to The Gioi Di Dong and FPT Retail, reviewing and closing inefficient stores helped improve revenue in existing stores, optimize operating costs, and increase operating profits.
Amidst the traditional retail channels, e-commerce emerges as a cost-optimization solution, unconstrained by physical locations or personnel. It offers a flexible and efficient way to reach consumers nationwide.
Charged with Tax Evasion: Online Business Accused of Generating $27 Million in Revenue but Failing to Pay Taxes
“Ms. L.T.A.T, a resident of Vung Tau city in Ba Ria-Vung Tau province, has been importing goods from Thailand to Vietnam and selling them on e-commerce platforms and social media sites such as Facebook and TikTok. From the beginning of 2023 to May 2025, Ms. T. has amassed a revenue of over 27 billion VND, but has failed to comply with any tax declaration and payment obligations to the state.”
“Traphaco Confirms Date for 2024 Second Dividend Payment”
Traphaco has announced that June 16th is the last day for shareholders to register to receive the second round of cash dividends for 2024, with a payout ratio of 20%. This round of dividends will cost the company approximately VND 82.9 billion.
“Raking in 95 Billion VND a Day: SJC’s Surprising Turnaround with Profits Quadrupling from 2023, but How Much Gold is in their Vaults?”
In 2025, SJC’s leadership aims high with a revenue target of nearly VND 34.9 trillion. However, their net profit goal stands at a modest VND 89 billion.
The Mobile World (MWG) Rakes in $17 Million Daily, Launches Over 300 Green Grocery Stores Since the Year’s Start
The latest report from The Gioi Di Dong (MWG) reveals that the new Bach Hoa Xanh stores have achieved positive operating profits, even after accounting for operational costs at the store level.
The Ultimate 6.6 Mega Sale: Lazada Empowers Vietnamese Sellers with AI Innovation
To drive growth for sellers during the Mega 6.6 Sale, Lazada is leveraging its AI ecosystem to provide strategic support and enhance operational efficiency. With a focus on timely insights, the e-commerce platform offers a suite of solutions to optimize visibility and conversions during this peak season.
