The Affiliate Report 2022, created by ACCESSTRADE Vietnam, offers a comprehensive analysis of the Digital Marketing and Affiliate Marketing market, providing valuable insights, opportunities, challenges, and strategic forecasts to assist businesses in navigating their path to success. With a focus on the year 2022, this report delves into the depths of the Affiliate Marketing industry, equipping businesses with the knowledge they need to illuminate their way forward in the ever-evolving landscape of business development.

I. Vietnam Affiliate Market Overview 2022:

• The advent of the Fourth Industrial Revolution in Vietnam in 2020 brought about a rapid transformation in consumer behavior and shopping patterns. The pursuit of convenience and the rise of online ordering became prominent trends. As a result, affiliate marketing emerged as a crucial strategy for businesses aiming to thrive in the digital age. The scope of affiliate marketing expanded beyond e-commerce, encompassing mobile offers, travel, services, finance, and more.
• Affiliate marketing, known for its efficiency and budget optimization, contributed to 10-15% of the total revenue and online sales for businesses. The industry generated approximately 30 million monthly orders (conversions). Significantly, the number of businesses adopting affiliate marketing witnessed a sharp increase. It is projected that in 2023, businesses will continue prioritizing substantial investments in this billion-dollar industry, expecting growth of at least 60% compared to 2022.

II. Affiliate and E-Commerce:

• E-commerce in Vietnam experienced consistent growth, with a projected growth rate of 15% to 30% in 2022. By 2025, revenue is expected to reach $32 billion, representing a twofold increase compared to 2022. Within the retail e-commerce sector (B2C), sales generated from affiliate marketing are estimated to contribute around 4% of the total sales. The number of online shoppers has also steadily increased over the years, with an estimated 57-60 million users in 2022. On average, each person spends approximately 6.1-6.6 million VND on online shopping.
• Among the popular types of publishers involved in affiliate marketing, publisher reviews hold the highest proportion, accounting for nearly 22% of the market. This is followed by influencers/KOLs, which represent around 16% of the market, and communities, with a proportion of 15.22%. Coupon/discount publishers also play a significant role, accounting for 13.19% of the market.

III. Affiliate and Finance:

• The financial economy in Vietnam is projected to recover with a growth rate of 5.5% to 6% and is expected to continue ascending in 2023. According to a report from Visa, e-wallet usage among consumers reached nearly 76% in 2022, while the percentage of card users was even higher at 80%.
• Publishers actively engage in the diverse financial industry, with paid traffic campaigns accounting for nearly 37% of affiliate marketing activities in 2022. Seeding groups rank second with an 11% proportion, along with various other types of publishers.

IV. Affiliate and Mobile App:

• The projected mobile ad spend for 2023 is estimated to reach $362 billion, reflecting the increasing importance of mobile platforms. Mobile gaming, in particular, has emerged as a highly lucrative and beloved industry in the region. Vietnam ranks as the second country, after China, in terms of time spent playing mobile games. The revenue in the Mobile Game segment in Vietnam is projected to reach $405.90 million in 2022, with an expected annual growth rate (CAGR 2022-2027) of 8.14%.
• According to ACCESSTRADE, affiliate platforms hold a substantial 57.92% market share in the affiliate mobile app industry in 2022, and this share is expected to grow further. The most prominent types of publishers participating in mobile app campaigns include paid traffic (27%), community publishers (13%), and influencers/KOLs (8%).

V. Affiliate and D2C:

• In the past year, certain product categories have witnessed significant growth with the Direct-to-Consumer (D2C) model. Mother and baby products (26.3%), personal care (21.2%), household appliances (12.1%), health food (11%), and cosmetics (10.7%) have demonstrated substantial development utilizing the D2C approach.
• D2C Vietnam has employed a focused development strategy that encompasses both online and offline channels. Online channels, particularly those utilizing affiliate marketing services (27.8%), collaborate with various types of publishers. In recent years, D2C campaigns have thrived in high-volume and high-demand market categories.

VI. Affiliate and Influencer/KOC:

• The growth of influencer marketing has been nothing short of remarkable, skyrocketing from $1.7 billion in 2016 to over $16.4 billion in 2022. This trend is expected to continue, with estimates projecting a further increase to $22.2 billion by 2025.
• In 2022, TikTok emerged as a prominent platform for affiliate marketing, boasting a remarkable 72.1% consumer attraction rate through its channels. TikTok’s bio links accounted for three-quarters of the highest revenue-generating conversion rates compared to other platforms such as Facebook, Instagram, and YouTube. The fashion and beauty industries have experienced substantial revenue contributions from the force of Key Opinion Consumers (KOCs).

VII. E-Commerce – TikTok Shop:

• TikTok Shop introduced an innovative concept of “Shoppertainment” in 2022, combining online shopping with entertainment, offering customers an enjoyable experience. TikTok’s research revealed that 43% of users expressed interest in ads incorporating useful content. Additionally, Affiliate TikTok Shop provides an ideal platform not only for influencer/KOC salesforces but also for brands that can act as both sellers and creators.
• During the DDAY 11/11 sales event, TikTok Shop recorded impressive sales growth, with a 167% increase in sales, a 156% rise in orders, and a 192% surge in revenue. Fashion continues to dominate as the leading category on TikTok Shop.

In conclusion, the affiliate marketing industry in Vietnam is experiencing remarkable growth, both in terms of size and quality. In 2023, this trend is expected to continue, emphasizing the importance of creating creative and unique content while understanding customer insights. To thrive in this field, individuals and businesses must align their strategies with users’ needs and preferences.

Key Points Summary:

• Affiliate marketing contributes 10-15% of total online revenue in Vietnam.
• The number of businesses implementing affiliate marketing is projected to grow by 60% in 2023.
• Affiliate marketing accounts for about 4% of total e-commerce sales.
• E-wallet and card usage are prevalent in the Vietnamese financial market.
• Mobile ad spend is expected to reach $362 billion in 2023.
• Mother and baby products, personal care, and household appliances are thriving in the D2C model.
• Influencer marketing is projected to reach $22.2 billion by 2025.
• TikTok Shop combines E-commerce with entertainment, attracting a large user base.
• Creative content creation and customer insights are crucial for sustainable growth in affiliate marketing.

Contact our Vietnam team for expert support in leveraging the power of affiliate marketing, optimizing your brand’s presence, and driving revenue growth.