Millions of dollars per event! Vietnamese live streaming e-commerce leader breaks record again, why does live streaming e-commerce continue to reach new highs in Vietnam?

In recent years, livestream e-commerce has sparked a craze in the e-commerce industry, especially in the Southeast Asian market, with Vietnam standing out in particular.

In May this year, TikTok Shop Vietnam set a record for livestream sales with a single event GMV (Gross Merchandise Value) exceeding 100 billion Vietnamese dong (about more than 4 million US dollars).

During the recent 6.6 Vietnam e-commerce promotion, Vietnam's top livestream seller Võ Hà Linh achieved sales of over 33 million RMB (about more than 4.5 million US dollars) within just 4 hours.

Is it Võ Hà Linh's outstanding livestreaming ability?

Or is livestream e-commerce simply that popular in the Vietnamese market?

In fact, by considering the current situation of the Vietnamese market, its potential, and the opportunities for Chinese brands to go overseas to Vietnam, all these questions can be easily answered.

According to Statista,Vietnam's e-commerce market revenue is expected to reach $13.9 billion in 2024, and will grow at a compound annual growth rate of 11.21% over the next five years,reaching $23.65 billion by 2029.

Meanwhile, a survey by the Coc Coc platform shows that 77% of Vietnamese respondents have watched livestreams, and 71% of them have made purchases while watching.

Data from the Vietnam E-commerce Association further indicates that in the first quarter of 2024, 95% of Vietnamese online consumers have experienced livestream shopping, with more than 2.5 million livestream sales events held each month.

All these data prove one phenomenon: livestream e-commerce is extremely popular in Vietnam, with huge market potential.

Vietnam has a population of 100 million, with an average age of 33, and 73% of the population is under 35. The young middle class and Gen Z consumer groups are highly receptive to new things, and rapid economic growth has made young people very open to advanced consumption.

All this has contributed to the development of livestream e-commerce in Vietnam to some extent.

Moreover, Vietnam borders China, with its border warehouses mainly located in Dongxing, Pingxiang, Hekou and other China-Vietnam border cities, which greatly reduces the stocking risk for livestream sales and provides a reliable supply chain foundation and efficiency guarantee for Chinese brands entering the Vietnamese market.

Currently,as many as 5 million cross-border parcels are sent from China to Vietnam every day, covering categories such as beauty and skincare, clothing, food, 3C electronics, and more.

Setting aside these external factors, let's look back at Võ Hà Linh herself. She has become Vietnam's top livestream seller, and in just two years has accumulated nearly4.5 millionTikTok followers, which certainly shows her strong capabilities.

Of course, these hard skills may not be easy for us to learn, but that doesn't stop us from seeking opportunities in other areas.

Vietnam's livestream e-commerce market is developing rapidly, and local consumers are highly receptive to this new shopping format. In addition,Vietnam's geographical location and supply chain advantages also provide a solid foundation for Chinese brands going overseas.

With the support of platforms like TikTok, more and more Chinese brands can enter the Vietnamese market through livestream e-commerce, achieving both brand and sales growth.

The Chinese beauty brand SACE LADY is a great example.

After joining TikTok in 2022, the brand quickly tested products on the platform and sent large numbers of samples to influencers to collect feedback, successfully creating several best-selling products.

Currently, the brand has sold over 1.1 million items in its TikTok Vietnam shop, established relationships with more than 1,000 influencers, held over 1,000 livestreams, and achieved a total GMV of over 100 billion Vietnamese dong (4.17 million USD).

Image source: Echotik

Moreover, going overseas to Vietnam now can also enjoy strong support from TikTok's official team.

TikTok Vietnam CEO Nguyen Lam Thanh has promised to invest about 1 million USD by the end of this year to provide advertising and marketing support for more than 10,000 Vietnamese SMEs.

As for specific overseas strategies, you can refer to the following three points:

1. Use the TikTok platform:Promote your brand and sell products through TikTok, leveraging its massive user base and traffic resources to quickly open up the market.

2. Localized operations:Understand the needs and preferences of Vietnamese consumers, carry out localized operations, and launch products and marketing strategies tailored to the local market.

3. Build a strong supply chain:Take advantage of the geographical benefits of China-Vietnam border warehouses to build an efficient supply chain and ensure that goods can be quickly delivered to consumers.

Vietnam's livestream e-commerce is experiencing explosive growth, and more records will be broken in the future, with more Chinese brands rapidly rising with the help of TikTok.

For companies hoping to gain a foothold in the Southeast Asian market, livestream e-commerce is undoubtedly an important entry point and development direction, worthy of close attention and active participation by every brand and enterprise aspiring to expand internationally.

In addition, TikTok Southeast Asia cross-border shops are now free to join, with policy adjustments and the launch of ten selected benefits to help merchants quickly get started. For more details, you can consult TuKe in the backend～