Recently, a report on the Vietnamese e-commerce market for the first nine months of 2025, released by Metric, has stirred up quite a buzz in the industry. The data in the report clearly reveals a profound transformation underway: the traditional e-commerce landscape is being rapidly reshaped by a new force emerging from the social sector.

This transformation is not just a battle for market share between platforms, but also signals a change in the rules of the game for the entire industry.

Market Structure Shifts from One Dominant Player to Dual Giants

According to the authoritative data in the report, Shopee, which has long held the top spot in the Vietnamese e-commerce market, still leads with a 56% market share. However, its closest challenger is no longer a traditional competitor. Tuke Shop has emerged rapidly, with its market share soaring to 41%, leaving only a 15 percentage point gap with Shopee.

 

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Looking back at the first quarter of this year, Tuke Shop increased its market share by about 6 percentage points in just three quarters—a phenomenal growth rate. In contrast, former giants Lazada and Tiki now account for only 3% of the market combined. The market structure has shifted from the previous “one dominant, many strong” to the current fierce situation of Shopee and Tuke Shop “dual giants standing side by side.”

Behind this change is the overall market’s recovery and improvement. Data shows that in the first three quarters of 2025, the total sales of the four major platforms reached 305.92 trillion VND, with Q3 sales at 103.6 trillion VND, a quarter-on-quarter increase of 2.6%.

However, amidst this warmth of recovery, the two giants are taking very different growth paths.Shopee’s Q3 sales grew only 4% year-on-year, with a noticeably slower pace; meanwhile, Tuke Shop achieved a strong 69% growth. With one slowing and one accelerating, the balance of market share is quietly shifting.

 

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Shoppertainment Model Becomes the Key to Breakthrough

Why has Tuke Shop been able to expand so rapidly? Its core weapon is its unique shoppertainment integration model. Traditional e-commerce platforms are “people looking for products”—consumers search, browse, and compare prices with clear shopping intentions. Tuke Shop, however, creates a “products looking for people” scenario, where users are immersed in short videos and live streaming entertainment, inspired by vivid and intuitive content, leading to impulsive and emotional purchasing decisions.

This model deeply aligns with the consumption habits of modern consumers, especially young people. It’s not just about selling products, but also selling an experience, a lifestyle, and an emotional resonance. When users like or comment on interesting content, they may also place orders for products featured in the video.

This seamless experience greatly shortens the consumer journey, improves conversion efficiency, and continuously attracts users and eats away at market share from traditional e-commerce platforms, becoming the perpetual growth engine for Tuke Shop.

 

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Sellers Face New Challenges and Strategic Transformation

For the vast number of sellers deeply engaged in the Vietnamese market, this dramatic shift means both opportunities and challenges. First, the logic of traffic distribution has fundamentally changed. The effectiveness of traditional e-commerce operations, such as keyword optimization and store ranking, may be diminished. Now, content creation ability, user interaction ability, and the ability to create trends and topics have become the new keys to acquiring traffic.

Facing this trend, sellers’ response strategies must also keep pace with the times.

First, embrace content transformation. Sellers need to shift from being pure merchants to a hybrid role of content creator + merchant, learning how to vividly tell brand stories and showcase product highlights through short videos and live streaming..

Second, implement multi-channel strategies..Smart sellers shouldn’t put all their eggs in one basket. They can continue to use Shopee and other traditional platforms as the “shelf” for basic sales, while positioning Tuke Shop as the frontier for brand explosion, acquiring incremental users, and achieving explosive growth. The two complement each other, building a three-dimensional sales network.

Third, optimize supply chain and operations.Tuke Shop orders may be more explosive and unpredictable, which requires sellers to have faster response, better warehouse management, and logistics capabilities.

 

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Conclusion

The Vietnamese e-commerce market is undergoing profound changes. The rise of Tuke Shop is not only rewriting the distribution of market share, but also heralding the full arrival of the social e-commerce era.

In the future, the Vietnamese e-commerce market will continue to maintain active growth, but the drivers of growth and the focus of competition have fundamentally changed. In this era of transformation, only those enterprises and individuals who deeply understand changes in consumer demand and can continuously innovate will be able to stand undefeated in the fierce market competition.