Seminar talks boosting exports via online platforms
Boosting export via giant retail platform like Amazon will enable small- and medium-sized enterprises to access world market at the lowest cost, experts said at a seminar held in Ho Chi Minh City on July 19.
Illustrative image (Source: AFP) HCM City (VNA) – Boosting export via giant retail
platform like Amazon will enable small- and medium-sized enterprises to access
world market at the lowest cost, experts said at a seminar held in Ho Chi Minh
City on July 19.
Speaking at the event, Director of the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC) Pham Thiet Hoa said the growth of shipping services has turned e-commerce into a popular trade channel of the world’s major enterprises, including those in Vietnam.
He added that 98 percent of Vietnamese firms are micro, small- and medium-sized ones with limited capital and technology, so it is important to tap online trade channels.
Tran Xuan Thuy, Executive Director of the Amazon Global Selling Vietnam, said in the US alone, nearly 70 percent of consumers visit Amazon to seek products while 80 percent compare prices at the site to make final decisions.
Thuy said the use of Amazon as a new advertising channel will become an inevitable trend for firms in various countries, including Vietnam.
Co-founder of the Amazon FBA Freedom Group Tran Quy Hien said the rate of buyers on Amazon amounts to 30 percent on usual days and 60 percent on holiday, while the figure at other sites are only about 1 percent.
According to him, health care products, cosmetics, electronics, household appliances, kitchenware and stationeries are among the bestsellers on Amazon at present. Vietnam’s products such as coconut, momordica and cajeput oil, handicrafts, leather and footwear could compete with foreign brands.
In order to maintain operations on Amazon, he advised firms to study product development and use technology to bring the best experience to clients.
The Ministry of Industry and Trade’s Vietnam E-Commerce and Digital Economy Agency reported that the global e-commerce revenue topped 2.77 trillion USD last year, which is forecast to top 3.3 trillion USD later this year and more than 4.47 trillion USD by 2021.-VNA
Speaking at the event, Director of the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC) Pham Thiet Hoa said the growth of shipping services has turned e-commerce into a popular trade channel of the world’s major enterprises, including those in Vietnam.
He added that 98 percent of Vietnamese firms are micro, small- and medium-sized ones with limited capital and technology, so it is important to tap online trade channels.
Tran Xuan Thuy, Executive Director of the Amazon Global Selling Vietnam, said in the US alone, nearly 70 percent of consumers visit Amazon to seek products while 80 percent compare prices at the site to make final decisions.
Thuy said the use of Amazon as a new advertising channel will become an inevitable trend for firms in various countries, including Vietnam.
Co-founder of the Amazon FBA Freedom Group Tran Quy Hien said the rate of buyers on Amazon amounts to 30 percent on usual days and 60 percent on holiday, while the figure at other sites are only about 1 percent.
According to him, health care products, cosmetics, electronics, household appliances, kitchenware and stationeries are among the bestsellers on Amazon at present. Vietnam’s products such as coconut, momordica and cajeput oil, handicrafts, leather and footwear could compete with foreign brands.
In order to maintain operations on Amazon, he advised firms to study product development and use technology to bring the best experience to clients.
The Ministry of Industry and Trade’s Vietnam E-Commerce and Digital Economy Agency reported that the global e-commerce revenue topped 2.77 trillion USD last year, which is forecast to top 3.3 trillion USD later this year and more than 4.47 trillion USD by 2021.-VNA
You should also see
World economy’s recovery drives Vietnam’s exports
With the recovery of the world market and increasing orders, Vietnam's import and export activities in the first quarter of 2024 prospered and achieved positive results.
See more
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
Business
HCM City wants to become major partner, customer of NVIDIA: Official
Chairman of the People’s Committee of Ho Chi Minh City Phan Van Mai has told the Vice President of Worldwide AI Initiative at NVIDIA, Keith Strier that the city wants to become a major and good partner and customer of the firm in Vietnam.
Business
Revenue on top five e-commerce platforms jumps 79%
The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
Business
Airports to offer 9,000 domestic flights during upcoming holidays
Vietnamese airlines are expected to operate 9,000 flights on domestic routes to meet the travel demand during the upcoming National Reunification Day (April 30) and May Day (May 1) holidays, according to the Airports Corporation of Vietnam (ACV).
