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iPrice has announced the final report of E-commerce market for 6 Southeast Asian market countries.
The report by iPrice Group summarizes 10 websites with the highest total website visits in Southeast Asia. The results show that half of these are domestic companies in Vietnam, including: Tiki, Sendo, Mobile World, Dien may Xanh and FPTShop.
Apart from Vietnamese companies, the remaining five names in the top 10 are Lazada and Shopee, and three “unicorn” startups from Indonesia: Tokopedia, Bukalapak and Blibli.
According to iPrice, while being ranked in the lower half of the list, the fact that Vietnamese companies account for the majority of the top 10 is enough to prove the potential of domestic companies and the size of Vietnam’s e-commerce market. In 2018, Google forecasted that Vietnam’s e-commerce by 2025 will reach 43% growth – the highest in the region.
5 Vietnamese companies are in the list of 10 e-commerce sites with the highest number of visits in Southeast Asia. Source: iPrice.
iPrice’s report shows that Tiki’s website traffic increased by 69% within only one year, from nearly 20 million visits / month to 33.7 million / month – ranked 6th in Southeast Asia. Particularly for the domestic market, Tiki also jumped from the 4th position nationwide to the top 2 in terms of traffic, ranking above Lazada Vietnam.
With e-commerce platform Sendo, iPrice judged that the company’s thrive has begun quite recently, especially in the second quarter of this year when Sendo’s website traffic increased by 10%. In the context of their leading competitors including Tiki, Lazada Vietnam and Shopee Vietnam all experienced a decline in traffic in the second quarter, Sendo became a prominent name.
This e-commerce exchange reached more than 28 million monthly website visits in the second quarter and was in the top 4 nationwide. Sendo is now only 300,000 visits lower than Lazada Vietnam / month. A year ago, the gap between these two was up to 16 million times / month.
While Tiki focuses on the younger customer segment, Sendo is still loyal to its provincial customer segment. Currently, according to information provided by Sendo, there are two thirds of the company’s customers coming from tier-2 cities and beyond.
The other three companies in Vietnam in the top 10 are websites specializing in electronics. In particular, this is the first time Dien May Xanh and FPT Shop have reached the top 10 of Southeast Asia on the iPrice Group rankings.
The iPrice Group report also indicated that compared to the same period last year, traffic to the top 10 e-commerce websites in Vietnam in the first 6 months increased by 11%. This data shows that website is still playing an important role for e-commerce in Vietnam, despite the significant competition from social network platforms and mobile applications.
Vietnam is also one of the two countries (along with Indonesia) with the growth in e-commerce website traffic, while the remaining four countries – Thailand, Malaysia, Singapore and the Philippines – are showing declines.
Commenting on this result, iPrice Group representative said that part of the reason is that Vietnam’s e-commerce market is more competitive than other countries. Vietnam has many leading e-commerce companies with strong financial backing. This competitiveness motivates companies to continue to maintain multi-channel activities, including website channels, to reach customers continuously. While in other countries like Singapore, Philippines and Malaysia, the competition is almost only between Lazada and Shopee.
Wrote by Đặng Đăng Trường