Amazon: Vietnam Among Top 10 Countries with Highest Growth in Retail E-commerce Sales in 2022
In 2022, there are about 10 million Made-in-Vietnam products being sold on Amazon e-commerce platform, reported from Vietnam Chamber of Commerce and Industry's website.
|Lafooco's cashew products of Long An Export Processing Joint Stock Company have entered the list of top 100 cashew nuts on Amazon in the US (Photo: tapchitaichinh.vn).|
Notably, best-selling Vietnamese products on Amazon remained in the categories such as kitchen tools, household appliances, apparel, and health care products for individual and family convenience.
Mr. Gijae Seong - Managing Director of Amazon Global Selling Vietnam said that after the COVID-19 pandemic, the shift in consumers' shopping behavior determined internet shopping on the global scale. Hence, Amazon is also changing.
The forecast for Vietnamese branded products on this e-commerce giant is that the sales will continue to increase for the major categories as mentioned above. So Vietnamese sellers must take this opportunity to attract consumers, increase market shares and revenues. By doing so, they will continue to bring more Made-in-Vietnam products to the global market.
According to Mr. Gijae Seong, Made-in-Vietnam wooden furniture or bamboo and rattan handicrafts are loved by Amazon consumers in the US and many countries around the world. These products are both aesthetics and practical. This year, there are not only indoor decoration products but also more outdoor furnitures are available to choose from.
On recent article on Custom News, Mr. Bui Huy Hoang - Deputy Director of the Center for Informatics and Digital Technology, Department of E-commerce and Digital Economy (Ministry of Industry and Trade) also mentioned agricultural products and handicrafts as the key export industries of Vietnam. On Amazon, traditional product line, handmade and local made with local ingredients is much loved by international customers and partners.
|Representatives of Amazon Global Selling Vietnam presented potential goods to sell on Amazon e-commerce platform at a conference (Photo: TBKTSG Online).|
Vietnam's effort to catch up with the trends
Reporting about the trends in export market, Mr. Bui Huy Hoang stressed that cross-border e-commerce is becoming a trend in Vietnam.
|Amazon sellers in Vietnam must have good preparation to serves customers in the U.S. and other overseas markets. (Source photo by Reuters)|
In particular, Vietnamese businesses are focusing their resources to enter and thrive on Amazon and other e-commerce platforms. Vietnam's industrial and agricultural development has created many quality products with great competitiveness in the international market for e-commerce, along with other methods of cross-border exporting.
In which, a number of key product lines for export must meet strict standards of organic production. The effort of Vietnamse businesses have been paid of when sale numbers have grown strongly and the products slowly won the trust of international consumers. For example, Lafooco's cashew products of Long An Export Processing Joint Stock Company have entered the list of top 100 cashew nuts on Amazon in the US.
Mrs. Nguyen Hoang Viet Trang, senior account manager of Amazon Global Selling Vietnam, said that according to Amazon research, in 2022 e-commerce will grow 6 times faster than in-store sales. With the traditional export model, a product delivered to the final consumer has to go through many stages, such as the manufacturer - the exporter - importer - wholesaler - retailer, and finally the consumer. However, with e-commerce, products reach consumers only from the manufacturer and through an intermediary that is a service provider. This proves that e-commerce has helped shorten the maximum time, optimize customer feedback with the supplier's products. She hoped that Vietnamese businesses can take advantages of Amazon to make changes and dominate the potential of e-commerce.
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