Vietnam's e-commerce market is a key driver of retail growth, projected to surpass $25 billion in 2024, marking a 20% increase compared to the previous year, according to the Ministry of Industry and Trade. This makes Vietnam the third-largest e-commerce market in Southeast Asia. Nearly 725,000 businesses and individuals operate on e-commerce platforms, generating over 75 trillion VND in transactions, while tax revenues from these activities reached 116 trillion VND, up 20% year-on-year.
With forecasts predicting the market to exceed $63 billion by 2030, Vietnam offers immense opportunities for foreign businesses. To succeed in this thriving landscape, understanding top-selling categories and consumer preferences is crucial. This article provides a snapshot of Vietnam’s Q3 2024 top-selling items on the top 5 e-commerce platforms and explores how market research can validate your entry strategy.

I. Key E-commerce Categories in Vietnam (Q3 2024)
The Vietnamese e-commerce sector has continued to experience growth across various product categories. Here are the top-selling categories in Q3 2024, alongside insights on the local market trends:
1. Beauty Products
Sales: 15,508 billion VND (26.58% growth)
Units Sold: 122 million (16.10% growth)
Beauty products remain a dominant force in Vietnam’s e-commerce market, with consistent year-over-year growth. Vietnamese consumers are increasingly aware of international beauty trends, particularly skincare, cosmetics, and personal care products. The rapid rise in beauty influencers and social media marketing has contributed to this surge. Products such as skincare creams, anti-aging treatments, and makeup products are in high demand, particularly among women aged 18-40.
Key Insight: Brands entering the beauty market should consider partnering with local influencers and focusing on high-quality, effective skincare products that align with local preferences for natural and organic ingredients.
2. Home & Life Products
Sales: 11,768 billion VND (24.73% growth)
Units Sold: 149 million (26.19% growth)
The home and lifestyle sector has seen impressive growth, driven by a growing middle class and more consumers investing in home improvement. Products like furniture, home décor, kitchen appliances, and smart home devices are increasingly popular, especially in urban centers like Hanoi, Ho Chi Minh City, and Da Nang. With the rise of e-commerce platforms like Shopee and TikTok Shop, consumers are increasingly willing to make larger-ticket purchases online.
Key Insight: Focus on affordable home essentials, as well as durable and easy-to-maintain products. The demand for smart home devices and eco-friendly home solutions is also rising, catering to a more environmentally-conscious consumer base.
3. Women’s Fashion
Sales: 8,915 billion VND (7.65% growth)
Units Sold: 92 million (7.53% growth)
Women’s fashion continues to be one of the top-performing categories in the Vietnamese retail market. Consumers are looking for both trendy and affordable options, particularly in categories like dresses, tops, shoes, and accessories. Online platforms, along with social media influencers and fashion blogs, have a massive influence on consumer purchasing decisions.
Key Insight: Focus on fashion collections that blend global trends with local preferences. Key items like casual wear, office attire, and festive dresses are high-demand products in this category. Collaborations with local influencers will also help boost brand visibility.
4. Grocery & Food
Sales: 5,390 billion VND (51.90% growth)
Units Sold: 60 million (29.43% growth)
The grocery and food sector has witnessed remarkable growth, largely driven by changing shopping habits and increasing demand for convenience. Online grocery shopping, particularly for fresh produce, packaged foods, and health-related products, has become a norm for many households in major cities. The growing interest in health and wellness is also impacting food trends, with organic, low-calorie, and high-protein foods in demand.
Key Insight: To succeed in this market, consider offering local food products that align with the growing demand for convenience and health-conscious choices. An efficient logistics system is essential to ensure fresh deliveries.
5. Mother & Baby Products
Sales: 3,284 billion VND (42.13% growth)
Units Sold: 24 million (50.17% growth)
The mother and baby sector is seeing a surge in demand, with an increasing number of young families investing in high-quality products for children and infants. Baby care, toys, clothing, and educational products are in high demand. In addition, products aimed at new mothers, such as maternity wear, baby food, and baby accessories, are also increasingly popular.
Key Insight: Focus on offering premium, safe, and eco-friendly products. Parents are increasingly willing to spend on items that promote their children’s health, education, and development.
6. Men’s Fashion
Sales: 4,948 billion VND (42.48% growth)
Units Sold: 41 million (40.26% growth)
Men’s fashion has seen impressive growth, driven by younger generations seeking stylish and affordable clothing. T-shirts, jeans, suits, and sportswear are popular among young professionals and students. As the fashion-conscious male demographic expands, there is an increasing demand for athleisure wear and accessories.
Key Insight: Men’s fashion is shifting toward modern, versatile clothing that can transition from casual to business wear. International brands should focus on offering trendy yet functional pieces, with an emphasis on quality and style.

Source: Metric, Vietdata, Vneconomy
II. Understanding User Journey & Consumer Preferences
As a foreign retail business planning to expand into Vietnam, understanding the local consumer journey and preferences is essential. Here’s a breakdown of the user journey:
Product Discovery: Consumers often find products via social media, online ads, influencers, or e-commerce platforms. Social media plays a critical role in the discovery phase, so partnering with local influencers or running targeted ads on platforms like Facebook and Instagram is key.
Purchase Decision: Price sensitivity remains a significant factor, but quality, brand reputation, and customer reviews also influence decisions. Consumers tend to compare prices, so offering competitive pricing and highlighting the value of your products is crucial.
Delivery Expectations: Vietnamese consumers expect reliable, fast delivery. While cash on delivery is still widely used, e-wallets are growing in popularity. Ensuring smooth logistics and offering flexible payment options will increase customer satisfaction.
III. Key Points to Consider for Retail Expansion
When expanding your retail business into Vietnam, consider the following:
Market Research: Thorough market research is critical for understanding local demand, consumer behavior, and the competitive landscape. This helps you fine-tune your product offerings, marketing strategies, and pricing.
Competitive Analysis: The Vietnamese retail market is highly competitive, with both local and international players. Identify your key competitors and find your unique selling proposition to stand out.
Localization: Adapt your product offerings and marketing materials to cater to local preferences, cultural nuances, and trends. Localization is key to successfully resonating with Vietnamese consumers, with 90% Vietnamese language usage across ecommerce (source: e-Conomy SEA 2024 report)
Logistics and Distribution: Vietnam's rapidly growing e-commerce market demands efficient logistics and timely delivery systems. Partnering with local logistics providers will help ensure customer satisfaction.
Source: e-Conomy SEA 2024 report by Google, Temasek, Bain & Company
IV. How We Can Help You Succeed in Vietnam
Market Research for Consumer Insights
At SOSP Consulting Group, we specialize in providing in-depth market research that helps you validate your market potential, understand consumer preferences, and develop effective strategies for your retail expansion into Vietnam. Our team conducts both primary and secondary research to provide actionable insights into:
Market demand and growth potential
Consumer preferences and purchasing behaviors
Competitor analysis and market positioning
Product-market fit and pricing strategies
By understanding these factors, you can tailor your approach and make informed decisions to succeed in Vietnam’s rapidly growing e-commerce market.
Let’s Start Your Journey in Vietnam
Expanding your retail business into Vietnam presents significant opportunities, but success depends on how well you understand the market and consumer preferences.
Book a call with SOSP Consulting Group today for a personalized consultation and discover how our market research services can help you navigate the Vietnamese retail landscape with confidence.
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