Vietnam ranks top 3 in ASEAN for e-commerce growth in 2026

The e-Conomy SEA 2026 report published by Google, Temasek and Bain & Company shows Vietnam's e-commerce market reached USD 28 billion in 2025, growing 35% year-on-year. Vietnam ranks third in the region for growth rate, behind the Philippines (38%) and Indonesia (36%), but ahead of Thailand (24%) and Malaysia (19%).

Shopee retains the top position with 47% GMV market share, followed by TikTok Shop (28%) and Lazada (15%). Notably, TikTok Shop has overtaken Lazada for second place after just two years of operating in Vietnam — the fastest expansion in Southeast Asian e-commerce history.

The grocery and fresh food segment shows the strongest growth at 67% annually, driving a quick-commerce boom: Be Market, GrabMart and Baemin Mart have all announced expansions of their 30-minute delivery services to ten major provinces.

The fastest growth is coming from cities outside the two main hubs, including Da Nang, Can Tho and Hai Phong — reflecting the spread of e-commerce beyond Hanoi and Ho Chi Minh City.

The industry's biggest challenge remains last-mile logistics in rural and mountainous areas, alongside a product return rate averaging 12%.