| Opportunities for Vietnamese businesses to access the Singapore e-commerce market Cross-border e-commerce exhibition in Vietnam from August 10-12, 2023 |
July 26, 2023 – Alibaba.com, a leading global business-to-business (B2B) e-commerce platform, announced a three-year plan to expand its presence in several emerging manufacturing hubs in Vietnam with the support of local partners, as part of its efforts to increase its reach to Vietnamese small and medium-sized enterprises (SMEs).
Alibaba.com’s expansion into Vietnam is expected to help bridge the gap between SMEs in the country’s booming manufacturing clusters and their international counterparts, helping them leverage the power of global e-commerce to grow beyond their domestic markets. In addition, Alibaba.com will also recruit local talent in an effort to provide tailored services and support to Vietnamese exporters in these regions.
“Alibaba.com is the leading global B2B e-commerce platform, where more than 47 million business buyers from over 190 countries browse products across more than 40 major categories. With a strong buyer base and digital tools specifically designed for global trade, we believe the Alibaba.com platform is the best starting point for Vietnamese SMEs looking to enter the international market. We are excited to take our Vietnam operations to the next level by investing in emerging manufacturing hubs. We believe this move will attract more businesses to e-commerce, helping them overcome barriers to global markets,” said Roger Luo, Head of Southeast Asia, Alibaba.com.
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| Mr. Roger Lou, Senior Director of Southeast Asia Alibaba.com; Mr. Mike Zhang, Country Director of Alibaba.com Vietnam; Mr. Steven To, Deputy Director of Hanh Sanh Company Limited at the announcement ceremony |
Muscle Alibaba.com Sourcing Forum
Driven by Alibaba.com’s business development efforts and the gradually improving market outlook, the average number of daily buyers of Vietnamese products on the platform increased by 55% in March 2023 compared to the same period in 2022, while the number of Vietnamese products on the platform also increased by 24%. This shows the growing demand for Vietnamese products in the global market, and further highlights the potential of Vietnamese enterprises in the field of digital exports.
Recent data from Alibaba.com also shows that total buyer transactions increased by 33% year-on-year in the first six months of 2023. During the same period, buyer demand increased across more than 90% of product categories on Alibaba.com, from new energy vehicles to camping cars, bathtubs to soundproofing panels. In addition, the global market is witnessing a 91% increase in online traffic, especially in emerging markets such as Southeast Asia - a growth that is expected to continue, with similar trends in Europe and the United States.
“The sourcing trends on Alibaba.com demonstrate the growing importance of digital sourcing for global buyers, presenting exciting opportunities for Vietnamese SMEs who can grasp this reality and invest more to have a strong online presence,” added Mr. Roger Luo.
Effect Support results for Vietnamese electric fan manufacturers
Electric fan manufacturer Hanh Sanh is an example of a Vietnamese company that has successfully leveraged digital tools and the support of Alibaba.com to make remarkable strides in the global market. Through Alibaba.com, the company has expanded its business operations, reaching five markets around the world, whereas previously, the company only focused on the domestic market.
"Through Alibaba.com, we have introduced our exclusive products to international customers and developed our company on a global scale. As a supplier, we believe in the leading role of digital in the future of commerce, and we attach great importance to building an e-commerce platform to strengthen our market position. We will continue to place our trust in Alibaba.com and look forward to expanding our cooperation with the local team," said Steven Su, Deputy General Director of Hang Sanh Company.
Attend leading product category report
In preparation for “Super September ” – an annual promotion that takes place during the peak supply season in global trade, Alibaba.com has revealed predictions for eight hot product categories based on insights from its platform, including: Smart pet devices, outdoor gear, smart wearables, sports equipment, healthy lifestyle products and equipment, industrial equipment, infrastructure equipment, and renewable energy vehicles.
"Vietnamese suppliers on Alibaba.com are gradually gaining a reputation with a large number of global buyers, especially in areas where Vietnamese businesses have advantages such as agricultural products, food, fashion and garden products. Businesses that can grasp the needs of buyers by leveraging information from our platform, and adapt to changes in demand and sourcing preferences, will certainly develop successfully in the global market," Mr. Roger Luo emphasized.
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