Millions of Dollars in a Single Livestream! Vietnam’s Top Livestream Seller Breaks Records Again—Why Does Vietnam’s Livestream GMV Keep Reaching New Heights?

Even before breaking records in the U.S. market, Vietnam's livestream sales had already achieved over VND 1 trillion (more than USD 4 million) in GMV in a single session in May, four times the U.S. record!

During the recent 6.6 Vietnam e-commerce promotion, Vietnam’s top livestream seller Võ Hà Linh generated over 33 million RMB (more than USD 4.5 million) in just four hours!

Since entering the livestream selling field in 2022, Võ Hà Linh has amassed nearly 4.5 million followers on TikTok. She consistently tops Vietnam's livestream GMV charts, demonstrating incredible selling power and quickly becoming the leading livestream seller in Vietnam.

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Vietnam’s success in this arena is closely tied to its cultural and consumer habits, which are very similar to those of the Chinese market.

On TikTok, Vietnam now has over 400,000 influencers who use short video content and livestreams to drive rapid sales growth for brands. Some brands have seen their monthly revenue increase 20-fold within a year through TikTok livestreams!

To learn more about Vietnamese influencers, log in to Echotik’s backend.

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Livestream E-Commerce Explodes in Vietnam

According to Statista, Vietnam's e-commerce market revenue is expected to reach USD 13.9 billion in 2024 and continue expanding at a compound annual growth rate (CAGR) of 11.21%, reaching USD 23.65 billion by 2029.

A survey by Coc Coc found that 77% of respondents in Vietnam have watched livestreams, with 71% of those viewers making purchases during the livestream. On average, Vietnamese people spend 13 hours per week watching and shopping via livestreams, placing them 11th globally in terms of weekly online shopping time.

Data from the Vietnam E-Commerce Association shows that in the first quarter of 2024, 95% of online consumers in Vietnam had made purchases through livestreams. Vietnam hosts over 2.5 million livestream selling sessions each month!

These statistics highlight the popularity and immense potential of livestream selling in Vietnam.

Why Is Livestream Selling So Popular in Vietnam?

1. Young Consumer Base:

Vietnam's young population is more open to new experiences. With 100 million people and an average age of 33, 73% of the population is under 35. The rapidly growing economy has led to high acceptance of forward-looking consumption among young middle-class and Gen Z consumers.

Despite having an average monthly salary of USD 500-600, equivalent to RMB 3,000-4,000, Vietnamese people have low savings habits and minimal future financial pressure, encouraging spending.

2. Favorable Business Environment:

Vietnam offers a more relaxed business environment compared to countries like Indonesia. The livestream e-commerce sector is booming, with rapid growth in both sellers and buyers.

3. Entertainment Factor:

Vietnamese people enjoy the entertaining aspect of livestream selling. They see it as a form of relaxation and are keen to watch. During livestreams, hosts provide a one-on-one service experience, which brings viewers closer and makes them more comfortable, enhancing their understanding of the products and brands, and facilitating purchasing decisions.

Livestream selling demands a robust supply chain and flexible logistics. The lifespan of a trending product can be as short as a month or even less. Managing supply during peak demand and mitigating the risk of sudden drops in sales is crucial for sellers.

Storing goods in Vietnam warehouses can reduce flexibility. Thus, Vietnam’s border warehouses hold a significant advantage. Locations like Dongxing, Pingxiang, and Hekou along the China-Vietnam border leverage their geographical position to greatly reduce inventory risks, providing a solid supply chain foundation for Chinese brands expanding into Vietnam.

Currently, up to 5 million cross-border packages are shipped daily from China to Vietnam, covering categories such as beauty products, clothing, food, and electronics.

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Breaking New Ground in Vietnamese Livestreams

For product selection in Vietnamese livestreams, many sellers use comprehensive data platforms to analyze and predict the next hot item. Echotik’s backend data can help analyze TikTok trends.

Võ Hà Linh’s product selection mainly focuses on beauty and skincare (97.3%), with food items making up the remaining 2.7%.

Her top-selling item is the SACE LADY waterproof mascara, with over 170,000 units sold.

SACE LADY, a Chinese beauty brand established in 2018, joined TikTok in 2022 and has seen impressive growth. By leveraging TikTok for rapid product testing and sending samples to influencers for feedback, SACE LADY has created multiple bestsellers.

In TikTok’s Vietnam shop, SACE LADY has sold over 1.1 million items, collaborating with over 1,000 influencers and conducting more than 1,000 livestreams.

Vietnamese consumers are highly receptive to the new shopping format of livestream selling, and the geographical and supply chain advantages lay a solid foundation for Chinese brands entering the market.

With TikTok's support, Nguyen Lam Thanh, TikTok Vietnam’s CEO, has promised to invest around USD 1 million by the end of the year to support over 10,000 Vietnamese SMEs with advertising, aiding their marketing efforts.

Vietnam’s 2023 e-commerce white paper reveals that last year’s retail e-commerce revenue grew by 25% compared to 2022, reaching USD 25 billion. By 2025, it is expected to grow to USD 39 billion, making Vietnam the fastest-growing and second-largest e-commerce market in Southeast Asia.

To conquer the Vietnamese market, livestream e-commerce is a crucial strategy.

Vietnam’s livestream e-commerce is still in a phase of explosive growth, with more records to be broken and more Chinese brands set to soar with the help of TikTok.