The Singapore online shopping platform’s numbers exceeded those of the next two put together, Vietnamese companies Mobile World (25.1 million) and Tiki (21.1 million), according to data collated by Malaysian online shopping aggregator iPrice Group.

A person makes online purchases with a credit card.

Shopee achieved growth of 21.6 percent from the first quarter, while the three behind it, Mobile World, Tiki and Singapore’s Lazada, saw declines of 6-12 percent.

In the last quarter of 2017 Lazada reported 50.5 million monthly visits, but since then its numbers have declined -- to 18.5 million in the second quarter of this year -- as other players grabbed a bigger share of the market.

Tiki and another homegrown player Sendo informed authorities in June that they planned to merge, but later decided to call off the deal due to disruptions caused by the Covid-19 pandemic and disagreements between their shareholders, according to DealStreetAsia.

Last year Vietnam’s Internet economy, which has been growing annually at 38 percent since 2015, was estimated to be worth $12 billion.

It is expected to rise to $43 billion by 2025, according to the "e-Conomy Southeast Asia report 2019" by Google, Singapore investment firm Temasek and U.S. global management consultancy Bain.

Vietnam’s e-commerce market to rocket to 13 billion USD in 2020

The size of Vietnamese e-commerce market is likely to hit 13 billion USD this year thanks to a large percentage of young residents and internet subscribers, according to insiders.

Vietnam E-Pavilion on e-commerce platforms debuts

The Vietnam E-Pavilion on e-commerce platforms was rolled out by the Ministry of Industry and Trade (MoIT)’s E-Commerce and Digital Economy Department in Ho Chi Minh City on December 2.

Year-end promotions heat up e-commerce market

The year-end online shopping frenzy has kicked off with giant local and foreign players like Lazada, Tiki, Sendo, and Shopee rolling out promotions since the middle of last month.

E-commerce to give firms more export chances

Vietnam has been recording strong development in e-commerce, through which businesses will have more chances to promote export, an official said at a workshop in Hanoi on October 18.

E-commerce to help businesses boost exports

Vietnamese businesses should make use of e-commerce to promote exports, heard a workshop held in Ho Chi Minh City on September 25.

Source: VnExpress