Five trends in exporting through e-commerce

VCN - On May 22, 2024, Amazon Global Selling announced the prominent cross-border e-commerce (CBEC) trends shaping Vietnam's online export economy. Concurrently, it launched phase two of the program "CBEC: The breakthrough era" in collaboration with the Vietnam e-Commerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade.
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Five trends in exporting through e-commerce
Amazon Global Selling has focused on four key areas to help Vietnamese businesses develop and exploit CBEC potential: training CBEC human resources for Vietnam; promoting a network of CBEC service providers; connecting and enhancing local production capacity; and promoting the Vietnamese brand globally.

Amazon Global Selling and iDEA introduced the initiative "Industry linkage - Growth with CBEC" to support Vietnamese businesses in expanding their presence and success by bringing "Made-in-Vietnam" brands and products to the global market.

As a pioneer with five years of laying the foundation and promoting CBEC in Vietnam, Amazon Global Selling has compiled and announced five significant development trends, opening opportunities for sustainable growth for Vietnamese businesses.

"The export potential of Vietnam is enormous. We aim to strengthen cooperation with government agencies to help local businesses seize this global opportunity," said Mr. Gijae Seong, Managing Director of Amazon Global Selling Vietnam.

Firstly, accelerating global business expansion: the number of products sold by Vietnamese businesses on Amazon has increased by 300% over the past five years, reflecting their flexibility, proactive global outreach, and readiness to diversify their product portfolios.

Secondly, the CBEC capability of Vietnam has been increasing. The number of Vietnamese businesses achieving annual sales of US$1 million has increased tenfold in the past five years.

Thirdly, enhancing brand building: Over five years, the number of Vietnamese selling partners participating in Amazon's Brand Registry program has increased 35 times.

Fourthly, streamlining global business expansion and operations: In 2023, the number of Vietnamese selling partners using Fulfillment by Amazon (FBA) increased by more than 300% compared to 2019. Through FBA, businesses can reduce operational burdens, focus on product improvements, and streamline the online export process to achieve higher growth.

Fifthly, diversifying product portfolios: Data from the past five years on Amazon showed that the fastest-growing product categories from Vietnamese selling partners included health and personal care, home, kitchen, apparel, and beauty. This trend reflects the continuous innovation efforts of businesses, constantly expanding and diversifying product portfolios.

Mr. Gijae Seong, Managing Director of Amazon Global Selling Vietnam, stated that CBEC was ushering in a new era for global trade and a new method for many Vietnamese businesses to reach customers worldwide. However, many domestic businesses are not yet ready, lacking the appropriate resources and manpower to begin digital transformation and seize new business opportunities.

Over five years of operation in Vietnam, Amazon Global Selling has continuously strived to accompany and strengthen Vietnamese businesses' success globally.

Accordingly, Amazon Global Selling announced phase two of the program "CBEC: The breakthrough era," in cooperation with iDEA under the Ministry of Industry and Trade.

The program will collaborate with key industry associations to jointly promote and enhance CBEC capabilities for leading export sectors, including raising awareness, providing additional training resources, and supporting member businesses of these associations to develop and succeed in global e-commerce.

Amazon Global Selling is a program that supports businesses worldwide in expanding their global business, reaching Amazon's customers around the world, and building an international brand. Through selling on Amazon, selling partners of various types and scales can access Amazon's hundreds of millions of global customer accounts, including over 200 million Prime customers and more than five million business customers worldwide.

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