Vietnamese Refrigerator Market Analysis: December 2024 E-commerce Performance

The Vietnamese refrigerator market showed strong performance across major e-commerce platforms in December 2024, with total sales reaching nearly $1 million and robust growth indicators suggesting healthy consumer demand heading into the new year.

Market Performance Overview

E-commerce sales data from Shopee and Lazada revealed impressive market activity, with total Gross Merchandise Value (GMV) hitting $973.99K across 2,885 units sold. The market demonstrated remarkable growth momentum, with GMV increasing by 50.3% and unit sales climbing 23.6% compared to the previous period.

Brand Market Share Analysis

Panasonic Dominates the Market Japanese electronics giant Panasonic emerged as the clear market leader, capturing 27.3% of the total market share. The brand's strong performance was particularly evident on Shopee, where Panasonic Official generated $192.9K in GMV with 329 units sold, making it the top-performing merchant across both platforms.

Korean Brands Show Strong Presence Samsung and LG, both South Korean manufacturers, secured significant market positions with 14.5% and 8% market share respectively. This combined 22.5% share demonstrates the strong appeal of Korean appliance technology among Vietnamese consumers.

Diverse Brand Competition The market showed healthy competition with multiple brands vying for consumer attention. Other notable players included:

• Aqua (represented by AQUA Official Store on Shopee with $102.9K GMV)
• Hitachi, Toshiba, and Electrolux each maintaining meaningful market presence
• Sharp and Casper rounding out the competitive landscape

Platform Performance Insights

Shopee Leads E-commerce Sales Shopee dominated the refrigerator sales landscape, with four of the top five merchants operating on the platform. The platform's merchant ecosystem showed strong performance with Panasonic Official, AQUA Official Store, Pico Official, and GIA KHANG - CHI leading sales volumes.

Lazada Maintains Competitive Position Lazada secured a spot in the top five through SmartMall Electric, which generated $59.1K in GMV with 33 units sold, demonstrating the platform's continued relevance in the appliance sector.

Market Implications

The December 2024 data reveals several key trends shaping Vietnam's refrigerator market. The strong growth rates suggest increasing consumer confidence and purchasing power, while the brand distribution indicates consumer preference for established international brands, particularly from Japan and South Korea.

The dominance of official brand stores on e-commerce platforms highlights the importance of authorized retail channels in building consumer trust for major appliance purchases. This trend suggests Vietnamese consumers prioritize authenticity and warranty coverage when investing in home appliances.

The healthy competition among multiple brands, with no single player controlling more than 30% of the market, indicates a mature and competitive marketplace that benefits consumers through diverse options and competitive pricing.

As Vietnam's economy continues to grow and urbanization accelerates, the refrigerator market's strong December performance suggests continued expansion potential for both domestic and international brands willing to invest in the Vietnamese consumer market.

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Data analysis based on Magpie e-commerce Intelligence dashboard for Vietnam refrigerator category, December 1-31, 2024.