The chart shows top platforms for online shopping based on penetration rate. — Photo courtesy of Decision Lab

HCM CITY — Việt Nam’s digital market is entering a phase of experience-led competition as overall user growth moderates and generational preferences fragment across platforms, according to a quarterly report by Decision Lab.

The 'Connected Consumer' report, conducted since 2019, tracks digital consumption trends in Việt Nam and aims to help brands refine engagement strategies. Findings for the fourth quarter of 2025 show that while overall social media leadership remains stable, differences in platform preferences between age groups are widening.

Facebook retained its leading position in Việt Nam’s social media market in the quarter, followed by Zalo and YouTube. TikTok and Instagram regained positions seen earlier in 2025, while Threads recorded notable growth, reflecting rising interest in newer digital spaces alongside established networks.

However, the report highlighted diverging generational trends. Facebook remains particularly strong among Generation Y users but is losing appeal among Generation Z. Zalo, by contrast, is gaining traction with younger users, overtaking YouTube to rank among Gen Z’s top three 'must-have' applications, a shift the report linked to increased reliance on the messaging platform for practical communication as more young users enter the workforce.

Beyond social media, the fourth-quarter study also highlights a clear shift in momentum at the top of Việt Nam’s ride-hailing market. 

Grab remained the most widely used ride-hailing platform in Việt Nam in the fourth quarter, but Xanh SM is gaining market share. 

Grab continued to record the highest overall usage penetration, supported by its broad range of services compared with competitors, the report said.

However, Xanh SM posted an 18 per cent increase in usage compared with the same period last year, signalling growing momentum and a narrowing gap with the market leader.

According to the report, Shopee continued to lead the country’s online shopping market by a wide margin in the fourth quarter, while usage declined across most competing platforms. 

Apart from a slight rebound at TikTok Shop, other platforms recorded declining usage, the report said. The trend suggests a clearer separation in consumer behaviour between platforms used for intentional shopping and those used primarily for browsing and content discovery.

Thue Quist Thomasen, CEO at Decision Lab said that as engagement growth slows, the challenge for brands is no longer about being everywhere, but about being effective where it matters.

"Platform leadership may be stable, but loyalty is increasingly fragmented and preferences are re-diverging by generation," he said.

"Brands that win will be those that sharpen their channel strategy, optimise for content relevance, and invest in platforms that drive deeper engagement, not just reach." — VNS