Latest data from Malaysia-based market research firm iPrice shows that Singapore-based Lazada’s monthly web visits continued a downward trend, down 33 percent from the first quarter last year to 28.3 million in the second quarter this year. 

Singapore-based Shopee retained its top position at 38.6 million visits per month, up 56.9 in the same period, followed by Vietnam’s Tiki with 33.7 million visits per month, up 49.3 percent.

Lazada is seeking to change the situation. Earlier this month, the company replaced the director of its Vietnam operations, Max Zhang with James Dong, who will oversee both Thailand and Vietnam.

As Lazada’s monthly web visits in Thailand have been at the top, iPrice said that the company is hoping for a turnaround in its Vietnam fortunes.  

Lazada last week organized a mid-year shopping festival for the first time to gain customers, offering 10 million discount codes with a total value of VND7 billion ($301,731).

In March the company launched a large seventh birthday celebration in Indonesia, with top celebrities from Southeast Asian nations including Vietnam taking part. The event attracted 12 million livestream viewers, and Lazada’s revenues were 15 times up in the next 24 hours.

Local player Sendo, which climbed up 10.2 percent from the first quarter to 28 million in the second quarter, surpassed phone retailer Mobile World to take the fourth position for the first time.

Vietnam’s crowded e-commerce market in the second quarter saw new player Voso, an e-commerce unit established by local telecom giant Viettel, receiving 211,700 web visits last month, 12 times that of May. 

Although the site was officially launched earlier this month, Voso has been receiving users since April. 

Industry insiders have said that Vietnam, with its large population, rapid economic growth and high internet connectivity, has great e-commerce potential. Last year, online sales rose 30 percent from 2017 to $8 billion, according to the Ministry of Industry and Trade.

Data from Statista showed Vietnam’s e-commerce sector was the sixth largest in Southeast Asia last year.