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MeLive: Seizing Opportunities in Vietnam’s Booming E-commerce Landscape

Get a quick grasp of MeLive’s growth potential in Vietnam’s booming e-commerce landscape! This one-page debrief summarizes key insights. Dive into the full report for in-depth analysis (link in sidebar).

Market Overview

  • Vietnam’s e-commerce market is booming, surging 78% in 2023 to a staggering 225 trillion VND (9.2 billion USD).
  • Live streaming is emerging as a key battleground, with TikTok Shop experiencing a meteoric rise (1355% growth) and capturing a significant 16% market share.
  • Fashion and Beauty & Personal Care dominate the landscape, but categories like Womenswear and Baby offer promising expansion opportunities for MeLive.

MeLive Performance

  • MeLive captured a 0.33% share of the total e-commerce market in H2 2023.
  • While MeLive’s contribution currently represents 2.1% of TikTok’s revenue, its strong Q4 recovery (double-digit MoM growth) positions it to capitalize on TikTok’s market share decline.
  • Beauty & Personal Care is MeLive’s strongest category (46%).
  • Partner creators are the backbone, contributing 86.2% of Est. GMV.
  • Full-management creators boast the highest NMV ratio and lowest cancellation rates, indicating untapped potential.
  • Address the lack of category diversification among top creators to encourage broader content reach.

Key Recommendations

  • Capture Market Share: Leverage Q4 momentum to capture a larger share of TikTok’s growing e-commerce market.
  • Womenswear Expansion: Attract sellers and promote Womenswear, a high-growth category with low MeLive presence despite strong TikTok traction.
  • Optimize Creator Mix: Analyze the high GMV generated by creators with no commission sharing to understand the feasibility of a revenue-sharing model for increased commission for MeLive.
  • Develop Full-Management Creators: Invest in strategies to refine skills and content focus of full-management creators to capitalize on their high potential for top performance and commission generation.
  • Encourage Category Diversification: Implement strategies to encourage top creators to expand their content across categories, catering to a broader audience and potentially increasing NMV.
  • Expand Seller Base: Develop strategies to attract and retain more sellers to keep pace with rising revenue.
  • Invest in Video Content: Explore the expansion of video content creation due to its lower operational cost and potentially higher commission rates compared to livestreaming.

Data Improvement

  • Improve Data Quality: Address data accuracy issues to ensure reliable insights for future decision-making.
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