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growth of many traditional sectors, the E-commerce industry maintained steady
development. According to data from the Vietnam E-commerce White Book 2023, despite
the pandemic's consequences, the domestic market still achieved breakthrough
accomplishments, with growth rates consistently maintained within the 16%-20% margin.
Looking back over the past decade, Vietnam's E-commerce market has witnessed a
massive leap. While in 2014, the total market scale was recorded at a modest 2.97 billion
USD, after 10 years of breakthrough development, B2C E-commerce revenue in Vietnam
officially surpassed the 20-billion-USD mark (reaching 20.5 billion USD). With an
impressive Compound Annual Growth Rate (CAGR) sustained above 20%, this sector
currently contributes 8% to the country's total retail sales of consumer goods and services,
thereby firmly asserting its pillar role in the digital economy.

Figure 2. B2C E-commerce revenue in Vietnam
Source:iDEA, Kirin Capital
Furthermore, Vietnam is anticipated to experience the most vigorous adoption of
Shoppertainment in the APAC region. According to a report by Tomorrow Marketers
(2023), it is projected that by 2025, Shoppertainment will account for over 35% of the
country's e-commerce market share.

Figure 3. Forecast of Shoppertainment penetration and scale in the APAC region by
2025
Source: TikTok & Boston Consulting Group - BCG, 2022

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