Vietnamese e-commerce witnesses 74% surge in cosmetic sales amid economic challenges

Despite economic challenges, the cosmetic sales showcase the resilience of e-commerce platforms operating in the Southeast Asian country, with facial care boasting 61-percent growth. Key products like serum, sunscreen, and moisturizers drive such sales, reaching VND2.2 trillion ($90.2 million), VND1.8 trillion ($73.8 million), and VND1.5 trillion ($61.5 million), respectively. TikTok Shop’s entry boosted e-commerce revenues, holding an average 25-percent market share with over 60 million products sold. Inclusion of TikTok Shop’s earnings may result in a cosmetics market revenue exceeding VND8 trillion ($328.2 million). The VND200,000-500,000 segment led in sales, generating nearly VND8 trillion ($328.2 million) and constituting 35 percent of the industry's market share.