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iPrice: Shopee & Tiki hold lead in web traffic in Q2

Released at: 15:27, 18/07/2019

iPrice: Shopee & Tiki hold lead in web traffic in Q2

Photo: Viet Tuan

Sendo approaching Lazada in web traffic but both still well behind top 2, according to iPrice's Map of e-Commerce.

by Minh Do

According to the iPrice Group’s Vietnam Map of e-Commerce for Quarter 2, similar to the previous two quarters, Shopee and Tiki continued to hold on to the top two spots among e-commerce merchants with the highest average monthly website traffic.

Shopee saw 38.5 million visits each month, while Tiki saw 33.7 million. This also marks the third consecutive quarter that the Vietnam-based Tiki has surpassed the Alibaba-backed Lazada in this regard. Lazada Vietnam had 28.3 million visits per month in the second quarter and once again lagged behind its two biggest competitors in the country.

E-commerce websites in Vietnam with highest average monthly web traffic, Q2 2019

Source: iPrice

This past quarter brought about many significant changes for Lazada Vietnam. Last July, they appointed Mr. James Dong to the position of Country CEO in place of Mr. Max Zhang, who had only been in the position for a year. Mr. Dong will hold this position concurrent with his role as Lazada Thailand’s CEO.

Lazada has been performing well in Thailand, earning enough high traffic to lead the country and leave its main rival, Shopee Thailand, behind. With this appointment, Lazada is clearly hoping to replicate its success in Thailand in Vietnam. In June, Lazada also announced a branding makeover across the region, aiming to make itself more relatable and more appealing to the young consumer segment.

Besides the top 3, which showed no change compared to the first quarter, the most noticeable improvement in the rankings comes from Sendo. Sendo’s average monthly web traffic increased by an impressive 10 per cent, rising from 25.3 million to 28 million visits. This helped them enter the national top 4 for the first time ever, surpassing Thegioididong. More importantly, iPrice noted that Sendo is the only merchant in the top 5 that did not record a decline in web traffic for the quarter.

With this surge in traffic, Sendo has come very near to Lazada in the rankings. The web traffic difference between them is now less than 300,000 visits per month. Considering that this difference was more than 16 million only a year ago, Sendo, an FPT Corporation subsidiary, has truly come a long way.

Top 4 e-commerce merchants’ progress in web traffic in the last 5 quarters

Source: iPrice & SimilarWeb

Voso.vn’s web traffic grew 12-fold in one month

The latest merchant to join the competitive e-commerce market, Voso.vn, was included in iPrice’s list of top 50 Vietnamese e-commerce merchants for the second quarter, even though the website was only officially launched by Viettel Post Corporation earlier this month.

Coming in at 50th in the rankings, Voso.vn is still considered by iPrice’s researchers as a potential big player. iPrice noted that during June, Voso.vn’s web traffic increased by 12-fold times compared to May. This achievement once again confirms Viettel Post Corporation’s ambition for Voso.vn. The company does not hesitate to express this ambition by clearly announcing their aim to make Voso.vn the number 1 e-commerce website in Vietnam.

Online shopping demand down slightly in Q2

Overall, iPrice’s data shows a slight decrease in market demand for online shopping during the second quarter. In particular, six of the ten merchants leading the market witnessed their web traffic decline compared to the first quarter.

However, analysts from the research division commented that this is not a worrying sign for the Vietnamese e-commerce industry and is instead only an expected seasonal trend. iPrice points out that during this same time period of 2018, the average web traffic also fell significantly but then quickly picked up again a quarter later.

Voso.vn’s web traffic for last three months

Source: iPrice & SimilarWeb

iPrice attributes this trend to a fall in market demand for fashion and consumer products compared to the annual peak period, which is before the Lunar New Year (Tet) holiday in February. Researchers also predicted that as big annual sales festivals like September 9 are fast approaching, the market should be back to its previous growth rate by the next quarter.

iPrice also noted that Voso.vn possesses important advantages, such as the already-established delivery network of Viettel Post, as well as their connections to Viettel Telecom and ViettelPay, both of which can become effective channels for consumer outreach.

Vietnam’s e-commerce race in Vietnam is forecast to be much changed by its entry into the market.

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