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Golden opportunity for Vietnamese businesses to export through e-commerce channels 

 Wednesday, May 29,2024

AsemconnectVietnam - The constantly changing global consumer demand opens the door for a number of Vietnamese branded products. Vietnamese businesses are promoting global expansion and proactively seeking cross-border e-commerce (e-commerce) business opportunities.

Sharing at the conference "Cross-border e-commerce in 2024 - The essence of Vietnamese goods, taking off globally" held on May 24, 2024, in Ho Chi Minh City, Mr. Gijae Seong, CEO of Amazon Global Selling Vietnam Nam said that Vietnamese businesses are promoting global expansion and proactively seeking business opportunities from cross-border exports.
Amazon Global Selling records that the number of products sold by Vietnamese sales partners on Amazon has increased by more than 300% over the past 5 years. Not only output but sales through Amazon also increased. In 2023, the number of Vietnamese sales partners reached 1 million USD/year in revenue on Amazon, an increase of nearly 10 times compared to 2019. Not only exporting products, Vietnamese exporters also invest in brand development to help long-term growth.
On the business side, Mr. Phung Quoc Man, Vice Chairman of the Ho Chi Minh City Handicraft and Wood Processing Association (HAWA), said that in 2023, the impact of the economic downturn in the industry's key export markets of Vietnamese wood caused consumer demand for wooden products to decrease sharply. As a result, Vietnam's export turnover of wood and wood products decreased by 15.9% by 2022, reaching only 13.18 billion USD. The traditional export market segment has been facing many challenges due to low global economic growth, weak consumption, increased protection barriers, and many countries continue to maintain tight monetary policies. Meanwhile, e-commerce sales of furniture and handicrafts are still growing rapidly.
Sharing the impressive story of exporting Newbam cashew nuts through Amazon, Ms. Nguyen Huynh Thu Truc said, from a person who knew nothing about e-commerce, Ms. Truc decided to establish the company Organic Viet Food (OVF), with original products. The first is prepared cashew nuts with many flavors. OVF wants Vietnamese businesses to not only export raw cashew nuts but also add value to cashew nuts. Therefore, Binh Phuoc cashew nuts have been put on the Newbam brand shirt by OVF with standard packaging, design, packaging, etc. for export.
According to Ms. Truc, choosing what product, what flavor, what export standards; brand, packaging process, labeling; ordering, shipping, warehousing, process optimization, etc. are many things that a "brand new" business like OVF must constantly learn and update. However, thanks to persistent learning and meeting the criteria instructed by Amazon, Newbam cashews were quickly placed on Amazon's shelves and quickly exported abroad. In November of 2022, Newbam cashew nuts exported their first batch to the US. In June of 2023, Newbam launched new products with flavors: caramel, wasabi, tomym, etc. continued to hit Amazon shelves in the US and Canada.
This shows that, in the digital age, businesses need to apply new business forms, new technologies, and have specific strategies to enhance business efficiency on international platforms. To do so, the fastest way is to rely on the international sales technology platforms of giants.
The "bottlenecks" need to be removed for online exports to take off
According to Amazon Global Selling Vietnam, global consumer demand is constantly changing, opening the door for a number of Vietnamese branded goods (made in Vietnam) to take advantage of new consumer trends, conquering international buyers.
But according to experts, despite its rapid growth with many advantages, cross-border e-commerce development is also encountering "bottlenecks" that need to be resolved soon.
Mr. Phung Quoc Man said that the level of participation in exporting through e-commerce of Vietnamese enterprises is still limited. Most businesses are small-scale and do not have enough capacity to build brands; poor resistance to sudden and continuous fluctuations from the market.
Accordingly, to promote Vietnamese wooden furniture products to the world through e-commerce, businesses must constantly make efforts in researching products that suit consumer tastes, especially investing in capacity building. when participating in cross-border e-commerce to meet technical standards and regulations of the international consumer market.
In addition, according to experts, human resources for cross-border e-commerce still do not meet the requirements; lack of information about trends in relevant regulations of foreign markets; skills and knowledge on building business strategies, building brands and protecting brands in cross-border e-commerce are still limited.
To solve the above difficulties and challenges, it is necessary to have the coordination of management agencies, large e-commerce platforms, units providing support services for e-commerce and the efforts and determination.
Source: VITIC/


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