Vietnam's e-commerce exports expands

Business-to-consumer (B2C) e-commerce exports in Vietnam were valued at 3.5 billion USD in 2022, representing for 1% of the country's overall export earnings, according to the British technology advising firm Access Partnership. 

According to the report, Vietnam's e-commerce export earnings might reach 5.5 billion USD by 2027 with a 7% annual growth rate if MSMEs quicken their adoption of e-commerce for exporting goods and services.

Amazon Global Selling, which established a dedicated team in Vietnam in 2019, has generated significant revenue for Vietnamese businesses. More than 300 million Amazon customers from more than 200 different countries and territories have access to the business help program. 

Around 10 million made-in-Vietnam items were sold to Amazon consumers, according to a program report from 2022. In the meantime, the proportion of Vietnamese business partners on Amazon increased by more than 80%. 

Vietnam's exports on the Amazon platform are predicted to reach a record high in 2023 by Amazon Global Selling. 

Vietnamese businesses are adapting well to the cross-border e-commerce trend, according to Lai Viet Anh, Deputy Director of the Vietnam E-commerce and Digital Economy Agency, which is helping their products reach additional markets.

According to numerous market analysts, Vietnam's e-commerce export revenue will surpass $10 billion USD in the next four years. She added that in order to meet the goal, Vietnamese businesses must get past four major obstacles: import market regulations, competitive edge, marketing or logistics costs, and market knowledge. 

Amazon Global Selling reports that additional Vietnamese items, including dried food, drinks, medications, clothing, textiles, and handicrafts, have been listed for sale on Amazon. 

According to the report, Vietnamese-made home appliances, apparel and textiles, healthcare products, and convenience items were popular among foreign internet consumers last year. 

E-commerce, according to experts, will increase the number of products Vietnam can export. They advise exporters to run various promotional programs, such as special discounts and free shipping for large orders, while also updating their products to better suit consumer tastes.

Source: Vietnamplus