Online exports accelerate strongly

The October-17 cross-border e-commerce conference

Exports via e-commerce increase sharply

“Vietnam has witnessed a 40-percent growth rate in the number of sellers abroad and 50 percent in sales, and the year will only end after three months, but we can be sure that 2023 will be a very prosperous year for Vietnamese sellers on Amazon,” said Trinh Khac Toan, Northern Regional Director of Amazon Global Selling Vietnam.

According to Toan, the five categories of products with the best sales on Amazon are home decorations, kitchenware, healthcare products, garments and beauty products.

The year 2023 witnessed the shifting and outstanding growth of the personal healthcare sector, especially supplementary food. Vietnamese sellers have also succeeded with the sale of beauty products to global consumers, such as false eyelashes.

2023 is the third consecutive year seeing home decorations and kitchenware among the best sellers. Toan said Vietnam has advantages in interior decoration products and outdoor furniture. These categories of products should be chosen by Vietnam’s enterprises when exporting products to the world via e-commerce channels.

Eric Broussard, Amazon’s Vice President, commented that the development of Vietnam’s e-commerce has been amazing. He said Vietnam is an emerging production center and hundreds of thousands of Vietnamese sellers are approaching the world market on Amazon’s platform. The products not only sell to American consumers, but are also available in Europe and 22 markets where Amazon is present.

The made in Vietnam products that ‘go global’ on Amazon include Sunhouse’s household appliances, Equo’s green products made of rice, grass, bagasse and AnEco’s biodegradables which saw growth rates of hundreds of percent per annum.

New growth driver

Lai Viet Anh, Deputy Head of the Ministry of Industry and Trade’s (MoIT) Vietnam E-commerce and Digital Economy Agency (iDEA), said Vietnam takes pride in being one of the three leading e-commerce markets in Southeast Asia in both market scale and growth rate. The Vietnamese e-commerce market has maintained a high 20 percent growth rate over the last 7-8 years, despite the COVID-19 pandemic. It is predicted that this year, the growth rate of e-commerce in Vietnam will reach 20 percent, with a revenue of about US$10 billion.

According to Anh, the growth rate of online exports is usually double to triple that of conventional ones, and Vietnam has the huge potential for cross-border e-commerce development.

It is necessary for Vietnam to renew old growth drivers and efficiently exploit new ones, including digitization and cooperation in supply chain development in order to enhance the country’s position in global supply chains.

Online exports are the combination of the old momentum for growth – exports – and the new momentum, the use of information technology and digital transformation, and exploiting the opportunities brought by cross-border e-commerce platforms, Anh said.