Vietnam is the most vibrant online community in Southeast Asia, e-commerce revenue could reach 11 billion USD by 2026

Vietnam is the most vibrant online community in Southeast Asia, e-commerce revenue could reach 11 billion USD by 2026

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2022-07-29 19:45:43

In the past, a seller had to spend about 1 million USD to open a physical store in the US, but now, they no longer have to spend that much money to be able to bring goods to every corner of the world. However, the CEO of Amazon’s e-commerce export program in Vietnam (Amazon Global Selling), Mr. Gijae Seong, said in a recent sharing session that there are still many barriers for consumers. selling Vietnamese products in terms of language, product quality, compliance with standards and regulations, brand protection, and especially the level of commitment when doing cross-border business. Mr. Gijae Seong emphasized that this backlog requires e-commerce platforms like Amazon themselves as well as small and medium-sized businesses to innovate at a higher level.

Innovation from the e-commerce floors themselves

Despite the epidemic, Vietnam’s e-commerce industry has experienced a strong growth period of up to 20%, according to a recent report by VECOM. The report of Amazon together with research company AlphaBeta also shows that Vietnam’s e-commerce scale is currently worth about 3 billion USD, but only accounts for 1% of export revenue, showing that this field is growing rapidly. lots of room for growth. This study also estimates that Vietnam’s cross-border e-commerce revenue will reach 11 billion USD by 2026.

“Cross-border e-commerce is a higher level of innovation. It allows you to sell to countries you’ve never been to without having to open a physical store. You can sell anywhere. Any time, any product, but what is important is its competitiveness. What is the competitive advantage for Vietnamese sellers?”, Mr. Gijae Seong shared.

According to Amazon Global Selling, within 12 months (from September 1, 2020 to August 31, 2021), nearly 7.2 million products of Vietnamese small and medium enterprises (SMEs) were sold to Amazon customers around the world. world, up 34% over the same period last year. The number of Vietnamese SMEs selling through Amazon stores around the world also surpassed the sales milestone of $ 100,000, $ 500,000 and $ 1 million, increasing by more than 18%, 53% and 40% respectively after just one year.

Mr. Seong added, a large number of sellers are coming to Amazon, even tripled. These numbers are the result of the innovation process from within the multinational e-commerce platform like Amazon.

Manufacturers are focusing on Vietnam, making Vietnam the manufacturing hub of Southeast Asia and a very important manufacturing country in the world economy. Even during the pandemic, this Amazon leader also highly appreciated the stable development of the economy, as well as the efforts of the Vietnamese Government in supporting exports, creating great conditions for participation. of Vietnamese sellers in the world in the next period.

Innovation from Vietnamese sellers

According to Amazon Global Selling’s statistics, there are 5 categories that Vietnamese sellers are doing very effectively, which are household appliances; kitchen products; clothing fashion; health care and personal care products; and tools for home repairs and small home gadgets.

“The unique advantage of Vietnam and products from Vietnam is that it is environmentally friendly, has a unique design and is different from products of other countries”, Amazon said.

In fact, Vietnamese goods still face many barriers in complying with standards and regulations, such as export regulations or documents and procedures. Brand protection is also a painful problem for Vietnamese businesses. Mr. Seong emphasized that on Amazon there are billions of products and therefore copying and selling at cheap prices will not be attractive to customers and also difficult to compete. The fact that the seller knows how to protect customers, protect the brand, and meet the standards of other countries will increase the trust of customers, thereby developing all exports from Vietnam.

Besides, e-commerce contains a lot of data, this is a difference and also a huge advantage compared to traditional business. Instead of having to survey quarterly or annually for offline data, today’s sellers get real-time customer feedback anywhere in the world.

Because of this advantage, e-commerce is bringing equal opportunities to small businesses and large enterprises, whether they come from Vietnam, the US or any other country. It offers equal opportunity, equipping sellers with similar tools, technology, and data. In Vietnam, products of big brands such as Minh Long Pottery, Trung Nguyen, or small products such as helmets, 3D cards, cashew nuts … have been sold successfully on Amazon’s platform.

He also advised sellers before wanting to take advantage of sales opportunities in big events such as Black Friday or Cyber ​​Monday in the world, they should prepare 3-6 months in advance with the decoration of online and interactive booths. with customers early to see feedback and thereby optimize the product according to the tastes of the region. dat-11-ty-usd-vao-nam-2026-20220726132129855.chn dat-11-ty-usd-vao-nam-2026-20220726132129855.chn

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