Việt Nam has one of the most dynamic live commerce markets globally, driven by its growing population, tech-savvy culture, and an expanding base of discerning young consumers, experts said.

HCM CITY —*- Việt Nam has one of the most dynamic live commerce markets globally, driven by its growing population, tech-savvy culture, and an expanding base of discerning young consumers, experts said.

Live commerce, as the name implies, enables viewers to make purchases while watching live videos without having to exit the stream, and is commonly found on social platforms like TikTok and e-commerce sites such as Shopee. 

This innovative shopping method is witnessing exponential growth worldwide, with e-commerce giants embracing live commerce as a prominent feature.

According to a 2021 McKinsey report, livestream shopping generates conversion rates of 30 per cent, up to 10 times higher than conventional e-commerce.

A report by Coresight Research also shows that global live commerce sales are expected to reach US$60 billion by 2019. This highlights the growing importance of live streaming in the e-commerce industry.

In the region, while China has a longstanding history in live commerce, Southeast Asia has emerged as a thriving hub for live commerce in recent years, with over 20 per cent of all e-commerce sales attributed to live commerce transactions in some markets. 

Việt Nam stands out as a leader in this arena, with platforms like TikTok and Shopee vying for supremacy in the live commerce landscape while attracting more local players to the fold.

The latest report released by Stickler and Veena Med affirms that live commerce has experienced significant growth in Southeast Asia in the last few years, and Việt Nam is no exception, showing huge growth and an increasingly large share of all e-commerce. 

Live commerce technology leader Stickler uses its LiveScope platform to track and analyse livestreams, helping sellers understand successful strategies and performance metrics. 

LiveScope recently tracked 55 top Vietnamese live commerce TikTok accounts on Double Day 9/9 which was on September 9, 2024. Altogether, 115 live streams were monitored, with over 540 live hours analysed by the AI-powered solution. 

Noteworthy findings from the study included the dominance of TikTokShop retailers in the top live commerce streams in Việt Nam, with the most-viewed broadcast attracting 1.8 million unique viewers and generating millions in revenue. 

The three longest live streams lasted for over 10 hours and still managed to deliver amazing fan engagement.

Many of the 55 accounts tracked have multiple live streams during the day, some running nine streams throughout the day. 

The focus of the analysis was in the cosmetics space, but a range of industries were represented including clothing and accessories, baby and toddler products and personal cleansing. 

“Việt Nam is one of the most exciting global live commerce markets with massive growth in population, discerning young consumers and a tech savvy culture. We have seen live commerce skyrocket in countries like China, Indonesia, and Thailand, and we are seeing the same, probably faster adoption in Việt Nam. On a per-population basis, Việt Nam's numbers are among of the top,” said Fionn Hyndman, CEO of Stickler.