Livestream sales explode, Shopee leads in revenue with 22,670 billion VND

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Vietnamese people spend 32,000 billion VND buying goods online

While traditional markets are deserted, online markets are bustling. Previously, livestream sales were often done through familiar social networks such as Facebook and YouTube, but recently livestream sales have become more and more popular with the participation of e-commerce platforms such as Shopee, TikTok and Lazada.

Browse Shopee or TikTok, regardless of day or night, on these applications there are shop owners livestreaming to sell products. The number of viewers and customers watching live also depends on the time, however any shop that livestreams has dozens of viewers and considers closing the deal.

Bán hàng qua livestream tiếp tục bùng nổ, Shopee dẫn đầu doanh thu, với 22.670 tỷ đồng

Livestream sales are increasingly popular on e-commerce platforms.

In particular, through the Black Friday event, a series of stores organized livestream sales with a near-explosive amount of shopping. With a livestream session on Black Friday lasting more than 5 hours on the evening of November 24 on Shopee, Vo Ha Linh, a KOL specializing in selling cosmetics online, just announced that she broke her livestream record with 327,000 orders.

According to information from the EcomHeat e-commerce data platform of YouNet ECI, through the collection, processing and analysis of 2.6 million online stores, covering all 4 multi-industry online platforms: Shopee, Tiki, Lazada and TikTok Shop, it shows that Vietnamese people's spending on online shopping increased sharply in the past month. In addition, the results also show that about 405,000 sellers "exploded orders" on the 4 platforms in November.

Data from this platform shows that Shopee is the leader in revenue, with 72.7%, equivalent to VND 22,670 billion, in all product categories, far surpassing other platforms. TikTok Shop and Lazada have market shares of 17.2% and 9% respectively, but have advantages in different product categories.

In terms of visible products, TikTok Shop is a place to trade in easy-to-buy, easy-to-use categories such as fashion and accessories; beauty; food and beverages. Meanwhile, Lazada is strong in high-value categories such as technology, home appliances, and audio equipment. With 385 billion VND, technology is the category that brought in the most revenue for Lazada in November.

Four multi-industry online platforms, Shopee, Tiki, Lazada and TikTok Shop, with millions of stores covered, have shown that Vietnamese people's spending on online shopping has increased.

TikTok Shop alone has the lowest average product value. On average, a product sold here costs only about 108,000 VND (Shopee is 116,000 VND and Lazada is 162,000 VND).

Livestream sales continue to boom

To stimulate consumption in the last months of the year, the platforms have taken advantage of launching new campaigns. Accordingly, sales via livestream continue to explode. The livestream format also effectively expands output for a number of product lines.

For example, last month, YouNet ECI recorded that fashion and accessories were the most purchased product group on the platforms, with revenue of VND 8,104 billion, nearly double that of the second-ranked industry group, beauty (VND 4,617 billion).

This result is partly due to the fact that fashion, accessories and beauty are benefiting greatly from livestream sales thanks to the growth of TikTok Shop and Shopee's recent bold investments in Shopee Live, according to YouNet ECI.

In the Singles Day sale results report, Shopee recorded a total of 722 million interactions and 603 million views of livestream programs on the platform during the period.

On November 11 alone, the total number of live viewers increased 11 times compared to normal days. On average, a seller on the platform livestreamed for up to 7 hours, increasing the number of products sold via Shopee Live by 44 times.

Shopee "launched" the 9/9 super sale event live on fashion and cosmetics and brought in many impressive numbers.

Mr. Tran Tuan Anh, CEO of Shopee Vietnam, said that the revenue results throughout the 11/11 event proved that strong investment in livestream is on the right track.

According to the first half of 2023 report, the platform said that the community of sellers and content creators - the force capable of leading livestream sessions, grew by 210% and 330% respectively.

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