HÀ NỘI — Ahead of the Tết (Lunar New Year) holiday, TikTok Shop accounted for 51 per cent of total sales, compared to 49 per cent for Shopee. As the holiday approached, TikTok Shop’s share edged up to 52 per cent, while Shopee’s dipped slightly to 48 per cent.

That's according to Metric, an intelligent data integration and analytics platform that has just released online shopping indicators for the Tết shopping season, reporting impressive figures.

During the six weeks leading up to Tết (from December 15 last year to January 25 this year), Vietnamese consumers spent VNĐ67.7 trillion (US$2.6 billion) at 411,900 shops, purchasing 542 million products across Shopee and TikTok Shop. 

These figures represent growth of 9 per cent in revenue, 2 per cent in the number of shops and 5 per cent in sales volume compared to the previous six-week period.

Most product categories maintained growth momentum in the run-up to Tết. The largest market shares belonged to beauty, women’s fashion, home and living, men’s fashion and food and beverages. Children’s fashion recorded the strongest growth, with Tết outfits for children seeing particularly robust sales increases. 

Comparing the two platforms, TikTok Shop generated higher sales than Shopee and recorded growth at nearly twice the rate of the other retailer during the peak pre-Tết period. 

Overall, TikTok Shop appeared to maintain a relatively stable sales performance, even though both platforms experienced strong spikes during major promotional campaigns.

TikTok Shop’s slightly higher sales compared to Shopee during the recent Tết season underscore the platform’s rapid and seemingly unstoppable growth, although this result reflects its performance at just one specific point in time. — VNS