Sendo Shuts Down Online Grocery Platform; Exits E-Commerce
Sendo Farm, the online grocery platform operated by Sen Do Technology, has announced its shutdown on July 10, 2026, marking the company’s complete withdrawal from Vietnam’s highly competitive e-commerce industry. This move follows a strategic shift in April 2025, when Sen Do Technology exited its multicategory marketplace business to focus solely on agricultural products and fresh food through Sendo Farm. Despite initial success during COVID-19 lockdowns and handling 50 tonnes of goods daily by mid-2024, Sendo Farm faced intense competition from traditional supermarkets and tech giants offering on-demand grocery services. The closure is part of a wider restructuring aimed at optimizing resources and strengthening competitiveness for Sen Do Technology’s future development.
The exit of Sen Do Technology from Vietnam’s e-commerce sector, culminating in the closure of Sendo Farm, underscores the brutal competitive landscape for local players against well-funded international giants like Shopee and Lazada. Despite raising significant capital and achieving a US$1 billion GMV at its peak, Sendo’s inability to sustain growth and profitability highlights the challenges of capital-intensive strategies in a market where customer loyalty often hinges on promotions. This case serves as a cautionary tale for startups attempting to replicate the playbooks of larger competitors without comparable financial backing, emphasizing the need for genuine differentiation and sustainable business models.
Furthermore, the evolving regulatory environment in Vietnam, with stricter tax enforcement and quality controls, combined with platforms shifting away from cash-burning strategies, signals a more disciplined era for e-commerce. This transition will likely favor established players with robust operational efficiencies and compliance frameworks, while increasing pressure on smaller or less differentiated businesses. The new Law on E-Commerce, requiring stricter seller verification, will further shape market dynamics, potentially consolidating power among the dominant platforms and raising barriers to entry for new competitors.
