Shopee, TikTok Shop, Lazada and Tiki generated a combined VND 411.7 trillion in gross merchandise value during the first nine months of 2026, according to YouNet ECI's EcomHeat data. The report recorded 2.6 billion products sold and more than 436,000 shops with sales over that period. GMV measures transaction value under the research provider's methodology, rather than the platforms' net revenue.
Seller numbers recover quarter on quarter
Revenue-generating shops rose about 8% in the third quarter compared with the second, from more than 370,000 to almost 400,000. Ordinary shops increased from 351,543 to 380,307, while official-brand shops rose from 18,592 to 19,518. Compared with a year earlier, however, ordinary-shop numbers remained about 8% lower; official shops were about 5% higher.
The research provider said price effects had driven much of GMV growth across four successive quarters, while sales-volume contributions were broadly flat. Larger transaction values therefore did not imply equivalent volume growth in every category.
Consumer goods show a different pattern
Fast-moving consumer goods recorded VND 29.4 trillion in third-quarter GMV, up 36% year on year. The report identified contributions of 17% from prices and 18% from units sold. Nine-month growth was 26%.
Fashion and accessories generated VND 39.3 trillion in third-quarter GMV, up 29%; beauty excluding personal care reached VND 18.9 trillion, up 28%. YouNet ECI advised brands to focus on suitable products and platforms, existing customers and realistic year-end targets. These are research assessments, rather than results from the coming promotional season.