Vietnamese goods earn millions of dollars on international e-commerce platforms

This information was announced at the Amazon 2024 cross-border e-commerce conference with the theme “Quintessence of Vietnamese goods - Global take-off” on May 24. The event was co-organized by the Department of E-commerce and Digital Economy (iDEA) - Ministry of Industry and Trade and Amazon Global Selling Vietnam.

Speaking at the conference, Ms. Nguyen Thi Minh Huyen, Deputy Director of the Department of E-commerce and Digital Economy (Ministry of Industry and Trade), said that Vietnam is among the countries with the fastest e-commerce growth rate in the region and the world, thanks to the average growth rate of retail e-commerce, reaching about 20% in the past 10 years.

Ms. Nguyen Thi Minh Huyen, Deputy Director of the Department of E-commerce and Digital Economy (Ministry of Industry and Trade) spoke at the conference. Photo: Minh Tam

“Our country has many advantages and opportunities to export through global e-commerce as the speed of integration is increasingly deep, participating in free trade agreements, as well as the speed of conversion from traditional business to digital platforms is high,” Ms. Huyen emphasized.

According to Amazon Global Selling CEO Gijae Seong, the number of Vietnamese products sold on Amazon has increased by 300% over the past 5 years. Not to mention, the export capacity of Vietnamese enterprises via e-commerce is growing, as the number of sellers with revenue of 1 million USD/year on Amazon has increased 10 times, in the period from 2019-2023.

"Along with that, awareness of brand protection has increased 35 times since 2019. This figure is reflected in the fact that Vietnamese sellers have participated in brand registration programs on Amazon, as well as the digital solutions we offer," said Mr. Gijae Seong.

This shows that Vietnamese sellers are increasingly dynamic and proactive in affirming their position in the international arena.

According to Amazon Global Selling CEO Gijae Seong, the number of Vietnamese products sold on Amazon has increased by 300% over the past 5 years. Photo: Minh Tam

Along with positive business results, Amazon Global Selling leaders still frankly admit that, in reality, many Vietnamese businesses are not really ready, or lack resources and human resources for digital transformation and have not found opportunities or niche markets to develop the international market.

From a state management perspective, leaders of the Ministry of Industry and Trade also said that accessing major e-commerce platforms in the world is still difficult for businesses.

Especially in the South, the difficulties that businesses face include lack of skills to participate in cross-border markets, lack of high-quality human resources, lack of information on trends and related regulations of foreign markets; skills and knowledge on building business strategies, building and protecting brands, etc.

According to the report “Local Sellers, Global Consumers 2022: Vietnam’s Direct E-commerce Export Opportunities” by Access Partnership, Vietnam’s retail e-commerce exports are estimated to reach VND296.3 trillion by 2027.

Despite many challenges, Vietnam’s e-commerce exports continue to show strong growth potential. Over the past 5 years, health & personal care, home & kitchen, apparel and beauty products have consistently been among the top fastest growing product categories from Vietnam on Amazon.

Source: https://laodong.vn/kinh-doanh/hang-viet-kiem-trieu-do-tren-san-thuong-mai-dien-tu-quoc-te-1344159.ldo