| platform | 2022 | 2023 | 2023_vs_2022 |
|---|---|---|---|
| Lazada | 26,500 | 33,840 | 27.7% |
| Sendo | 1,000 | 149 | -85.1% |
| Shopee | 91,000 | 152,997 | 68.1% |
| Tiki | 5,700 | 2,459 | -56.9% |
| Tiktok | 2,448 | 35,627 | 1355.2% |
| Total | 126,648 | 225,071 | 77.7% |
Assumption and Data Sources
- Assumption: Revenue is Gross Merchandise Value (GMV).
- Currency Unit: billion VND (bil VND)
- Data Source: Data for competitors including TikTok, Shopee, Lazada, Sendo, and Tiki was obtained through Metric.vn’s web scraping tool. MeLive’s data was provided directly by the MeLive team in a file named “gmv_nmv”.
1 Executive Summary
MeLive in the Evolving E-commerce Landscape
Market Overview:
- Vietnam’s e-commerce market witnessed explosive growth in 2023, surging 78% to 225 trillion VND (9.2 billion USD).
- Shopee remains the leader but saw a 3% market share decline despite a 68% growth.
- TikTok Shop experienced a meteoric rise (1355% growth), capturing significant market share (16%) primarily from Lazada and Tiki.
- Live streaming, popularized by TikTok Shop, is becoming a crucial battleground for e-commerce platforms.
- Fashion and Health & Beauty are dominant categories on Shopee, contributing a combined 66%.
MeLive Performance:
- In H2 2023, MeLive generated 433 billion VND, representing 2.1% of TikTok’s revenue. MeLive’s contribution fluctuated but exhibited strong recovery in Q4, achieving double-digit MoM growth against TikTok’s decline.
- MeLive currently holds a roughly 0.33% share of the total e-commerce market.
Key Category Insights:
- Beauty & Personal Care: Dominant on both platforms, but significantly higher (46%) on MeLive compared to TikTok (18.1%).
- Womenswear: Presents a significant growth opportunity for MeLive, with low contribution (2.4%) despite strong presence on TikTok (20%).
- Expansion Potential: Categories like Baby, Food & Beverage, and Sport & Outdoors offer promising avenues for MeLive to diversify its portfolio.
Recommendations:
- Leverage MeLive’s strong performance in Q4 to maintain momentum and capture a larger share of TikTok’s growing e-commerce market.
- Capitalize on the opportunity in Womenswear by attracting sellers and promoting the category.
- Explore expansion into high-growth categories like Baby, Food & Beverage, and Sport & Outdoors to diversify MeLive’s offerings and address consumer demand.
2 Total Revenue
In 2023, total e-commerce sales surged from approximately 127 trillion VND to around 225 trillion VND, marking a remarkable 78% increase. This translates to a growth from 5.2 billion USD to 9.2 billion USD.
Notably, Shopee contributed significantly with a 69% increase, while Tik Tok Shop experienced an extraordinary growth of 1355%.
4 Monthly Revenue In 2023
5 Categories
5.1 Shopee
Fashion and Health & Beauty remain the dominant categories on Shopee, comprising 47% of sales.
| categories | revenue_bil_vnd | percent |
|---|---|---|
| Fashion | 34,422 | 25.9% |
| Health - Beauty | 28,047 | 21.1% |
| Home Living | 16,487 | 12.4% |
| Mom - Baby | 11,781 | 8.9% |
| Electronic Accessories | 10,891 | 8.2% |
| Small Appliances | 7,635 | 5.7% |
| FMCG | 7,247 | 5.4% |
| Sport - Travel | 4,217 | 3.2% |
| Others | 3,746 | 2.8% |
| PC - Laptop | 2,732 | 2.1% |
| Automotive & Motorcycle | 2,693 | 2.0% |
| Books & Office Supplies | 2,329 | 1.8% |
| Camera | 838 | 0.6% |
| Total | 133,064 | 100.0% |
5.2 Tiktok
Contribution of Fashion & Health - Beauty is critical with 66% contribution
| categories | revenue_bil_vnd | percent |
|---|---|---|
| Fashion | 12,359 | 39.6% |
| Health - Beauty | 8,105 | 26.0% |
| Mom - Baby | 2,278 | 7.3% |
| FMCG | 2,186 | 7.0% |
| Small Appliances | 1,810 | 5.8% |
| Phones - Tablets | 1,278 | 4.1% |
| Sport - Travel | 1,074 | 3.4% |
| Home Living | 812 | 2.6% |
| Automotive & Motorcycle | 625 | 2.0% |
| PC - Laptop | 482 | 1.5% |
| Books & Office Supplies | 198 | 0.6% |
| Others | 0 | 0.0% |
| Total | 31,208 | 100.0% |
6 Melive Vs. Tiktok
6.1 Total revenue in 6 months
In the second half of 2023, MeLive generated approximately 433 billion VND, representing 2.1% of TikTok’s total revenue. MeLive’s contribution then fluctuated, reaching a low of 1.4% in July before recovering to 4.3% by December 2023.
During the peak e-commerce season in Q4 2023, MeLive achieved impressive double-digit month-over-month growth, contrasting with TikTok’s double-digit decline in revenue share.
Note
Position Of MeLive in the Ecommerce Market: While MeLive contributes 2.1% to TikTok’s e-commerce market share, which holds 15.8% of the total market, MeLive’s overall contribution to the total e-commerce market is roughly 0.33%.
| month | MeLive | MeLive_MoM | Tiktok | Tiktok_MoM | MeLive_vs_Tiktok |
|---|---|---|---|---|---|
| 2023-07-01 | 41 | NA | 2,919 | NA | 1.4% |
| 2023-08-01 | 69 | 67.0% | 3,927 | 34.5% | 1.8% |
| 2023-09-01 | 61 | -11.4% | 4,064 | 3.5% | 1.5% |
| 2023-10-01 | 63 | 3.0% | 3,794 | -6.6% | 1.7% |
| 2023-11-01 | 79 | 25.7% | 3,084 | -18.7% | 2.6% |
| 2023-12-01 | 118 | 48.6% | 2,741 | -11.1% | 4.3% |
| Total | 433 | NA | 20,529 | NA | 2.1% |
6.2 Contribution By Categories
Data Source Note:
- TikTok: Revenue by category data comes from Metric.vn. They have cleaned and mapped TikTok categories using Shopee’s benchmarks, potentially leading to some inconsistencies.
- MeLive: Category information comes directly from the MeLive team. This data might be biased due to seller classifications and their primary categories, as sellers can offer products across various categories.
Recommendation:
- Consider this data a valuable reference, but be aware of potential biases for a more accurate understanding.
Key Takeaways:
- Beauty & Personal Care: Dominates both platforms, but with a significant difference. It represents 18.1% of TikTok’s categories compared to a much higher 46% in MeLive.
- Womenswear: Presents a growth opportunity for MeLive. While contributing 20% on TikTok, it only accounts for 2.4% of MeLive’s categories.
- Expansion Potential: Categories like Baby, Food & Beverage, and Sport & Outdoors offer promising avenues for MeLive to expand its portfolio.
| category | melive | tiktok | percent_ml | percent_tiktok | ml_share_in_tiktok |
|---|---|---|---|---|---|
| Chăm sóc sắc đẹp & Chăm sóc cá nhân | 92 | 5,224 | 45.6% | 18.1% | 1.76% |
| Trang phục nam & Đồ lót | 49 | 2,581 | 24.1% | 9.0% | 1.88% |
| Unknown | 42 | 0 | 20.7% | 0.0% | Inf |
| Trang phục nữ & Đồ lót | 5 | 5,745 | 2.4% | 19.9% | 0.08% |
| Đồ gia dụng | 4 | 747 | 2.0% | 2.6% | 0.54% |
| Giày | 3 | 1,231 | 1.7% | 4.3% | 0.27% |
| Trẻ sơ sinh & thai sản | 2 | 1,687 | 1.0% | 5.9% | 0.12% |
| Đồ ăn & Đồ uống | 2 | 1,527 | 0.9% | 5.3% | 0.12% |
| Sức khỏe | 2 | 995 | 0.8% | 3.5% | 0.16% |
| Hành lý & Túi xách | 1 | 720 | 0.3% | 2.5% | 0.10% |
| Phụ kiện thời trang | 1 | 850 | 0.3% | 3.0% | 0.07% |
| Điện thoại & Đồ điện tử | 0 | 1,262 | 0.0% | 4.4% | 0.00% |
| Đồ dùng nhà bếp | 0 | 334 | 0.0% | 1.2% | 0.00% |
| Phụ kiện trang sức & Phái sinh | 0 | 114 | 0.0% | 0.4% | 0.01% |
| Chưa phân loại | 0 | 1,239 | 0.0% | 4.3% | 0.00% |
| Thể thao & Ngoài trời | 0 | 938 | 0.0% | 3.3% | 0.00% |
| Thiết bị gia dụng | 0 | 654 | 0.0% | 2.3% | 0.00% |
| Ô tô & xe máy | 0 | 579 | 0.0% | 2.0% | 0.00% |
| Hàng dệt & Đồ nội thất mềm | 0 | 475 | 0.0% | 1.7% | 0.00% |
| Thời trang trẻ em | 0 | 428 | 0.0% | 1.5% | 0.00% |
| Công cụ & Phần cứng | 0 | 250 | 0.0% | 0.9% | 0.00% |
| Sửa chữa nhà cửa | 0 | 248 | 0.0% | 0.9% | 0.00% |
| Máy tính & Thiết bị Văn phòng | 0 | 248 | 0.0% | 0.9% | 0.00% |
| Đồ chơi & sở thích | 0 | 238 | 0.0% | 0.8% | 0.00% |
| Đồ dùng cho thú cưng | 0 | 179 | 0.0% | 0.6% | 0.00% |
| Sách tạp chí & âm thanh | 0 | 155 | 0.0% | 0.5% | 0.00% |
| Đồ nội thất | 0 | 147 | 0.0% | 0.5% | 0.00% |
| Bộ sưu tập | 0 | 9 | 0.0% | 0.0% | 0.00% |
| Thời trang Hồi giáo | 0 | 1 | 0.0% | 0.0% | 0.00% |
| Total | 201 | 28,805 | 100.0% | 100.0% | 0.70% |