Vietnam raked in the world’s sixth-largest ecommerce revenue in 2018, according to online statistics portal Statista.

With 49.8 million customers on electronic shopping sites, the Southeast Asian country’s online sales revenue last year was $2.26 billion, up 29.4 percent compared to the previous year, Statista said.

The last quarter of 2018 witnessed dramatic changes that dictated the final positions of domestic ecommerce players for the entire year as the sites introduced large, long sales offers.

Shopee topped Vietnam’s online shop list in terms of total web visits, with 123.2 million visits.

It was followed by Tiki while Lazada came third and The Gioi Di Dong (Mobile World) and Sendo ranked fourth and fifth respectively.

The domestic companies of Tiki, The Gioi Di Dong and Sendo were amongst Southeast Asia’s top ten highest-traffic ecommerce sites, according to meta-search website iPrice Group and web analytics website SimilarWeb.

Large investments were poured into ecommerce service firms in Vietnam last year.

Tiki received VND122 billion ($5.2 million) from home Internet-and-technology company VNG and a reported $44 million from Chinese online retailer JD.com.

Meanwhile Sendo secured $51million from eight investors, especially Tokyo-based SBI Holdings, which represents a competitive edge in the country’s ecommerce industry, driving its 22-percent growth in 2018 and eliminating several major players.

It seemed that Vietnam had not tapped the full potential of its online shopping market as 53 percent of its population used the Internet, and nearly 50 million possessed smartphones.

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