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Metric.vn forecasts that in Q2 2026 the combined revenue of four leading e-commerce platforms—Shopee, Lazada, Tiki, and TikTok Shop—will reach about 142.2 trillion VND, down 4.28% from Q1 2026 (a decline of roughly 6.4 trillion VND).
In Q1 2026, the four online retailers generated total revenue of 148.6 trillion VND, up 46.60% year on year. Sales volume reached 1,138.6 million products, up 19.76%. The number of shops generating orders rose to 490.9 thousand, up 3.91%.
Metric.vn notes that amid increasingly strict policies on platform taxes, fees, identity verification, declarations, and operating standards, a higher number of shops does not necessarily make competition easier.
By revenue category, the top three sectors were Beauty (24,427.30 billion VND), Women’s Fashion (20,953.71 billion VND), and Home & Living (18,246.02 billion VND).
On growth, Men’s Fashion led with 151.08% revenue growth and 98.91% volume growth. Fashion Accessories followed with revenue up 92.88% and volume up 11.39%, while Women’s Fashion rose 74.75% in revenue and 43.88% in volume.
Meanwhile, the Health sector declined 2.86% in revenue and 7.02% in volume, which Metric.vn links to tighter quality control, advertising, and product origin requirements. The data suggests everyday consumer goods are continuing to grow, while product groups requiring higher trust and compliance face greater scrutiny.
In pricing segments, the 100,000–200,000 VND range remained the largest share of revenue at 24.8%, followed by under 100,000 VND (21.2%) and 200,000–350,000 VND (17.5%).
Compared with the same period last year, mid- and upper-mid-range segments expanded their market share: 200,000–350,000 VND increased from 16.6% to 17.5%; 350,000–500,000 VND rose from 8.6% to 9.4%; and 500,000–750,000 VND climbed from 6.5% to 7.1%.
Conversely, the segment above 1 million VND fell from 17.2% to 15.8%, while the 100,000–200,000 VND segment declined slightly from 25.9% to 24.8%.
In brand rankings, the technology group continued to dominate. Apple led with revenue of 2,203 billion VND, up 24.27% year on year. Samsung reached 1,287 billion VND, up 141.30%, and Xiaomi posted 667 billion VND, up 72.23%. In other sectors, Top Gia (Home – Living) reached 590 billion VND, up 112.81%.
In beauty, several brands recorded strong growth, including Cocoon at 514 billion VND (up 115.46%), Colorkey at 459 billion VND (up 83.50%), and L’Oréal Paris at 431 billion VND (up 43.25%). Hapas was the fastest-growing brand among the top 10, with growth of 198.65% to 400 billion VND.
For Q2 2026, Metric.vn expects revenue from the four platforms to reach 142.2 trillion VND, down 4.28% from Q1 2026. Revenue volume is forecast to reach about 1,153 million products, up 1.27% quarter-on-quarter.
Metric.vn’s assessment is that consumption volume is set to increase modestly, but quarterly revenue value is expected to be lower than in Q1 2026.
Separately, the Tax Department reported that total revenue from e-commerce and the digital economy in Q1 2026 reached 85,600 billion VND, up 12% year on year. The report indicates that the scale of digital transactions continues to expand while tax administration effectiveness in the online sector is improving.
For sellers and platform operators, Metric.vn says this trend implies that identity verification, declaration, reconciliation, and tax compliance requirements will continue to be strengthened in the coming quarters.
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