Co-organized by Amazon Global Selling and Vietnam's E-commerce & Digital Economy Agency (iDEA) - MOIT, the event marked Amazon Global Selling's 5-year anniversary in the country.

At this landmark summit, Amazon Global Selling unveiled the latest trends shaping Vietnam's thriving export e-commerce landscape. Key insights underscored significant business growth, accelerated global expansion, rapid brand increases, and product diversification. Furthermore, Amazon announced the top highest growth categories for "Made-in-Vietnam'' products on Amazon over 5 years. A subsequent round-table then explored the new "Vietnam Industry Linkage" initiative, aimed at widening the prospects of Vietnam's export e-commerce through these fast-growing verticals.

The event in HCMC welcomed the notable attendance of representatives from government agencies, industry associations, service providers, selling partners, businesses and online export enthusiasts.

The Cross-Border E-Commerce Summit 2024 arrived at Ho Chi Minh City, activating the "Vietnam Industry Linkage" initiative with the participation of Mrs. Nguyen Thi Minh Huyen, Deputy Director of the Vietnam Department of E-Commerce and Digital Economy (iDEA) under the Ministry of Industry and Trade (MOIT); Mr. Nguyen Van Thanh, Director of E-commerce Development Center (iDEA); Mr. Nguyen Nguyen Phuong, Deputy Director of Ho Chi Minh City Industry and Trade Department; Mr. Phung Quoc Man, Vice Chairman of Handicraft and Wood Industry of Ho Chi Minh City (HAWA); and leaders of Amazon Global Selling Vietnam.

Gijae Seong, Head of Amazon Global Selling Vietnam, said: “With a wealth of natural resources, manufacturing expertise and strongly growing export sectors, Vietnam has consistently contributed to a diverse selection of high quality, unique products to Amazon customers worldwide. We strongly believe in Vietnam capabilities and are committed to extending our endeavors to empower Vietnamese businesses to achieve category diversification, brand building and global expansion. Together with collaborative initiatives with government agencies, industry associations, Amazon Global Selling expectedly stimulates online export a driving force for the emerging digitized economy of Vietnam.”

‘Made-in-Vietnam’ online export products on the rise in the last half-decade

According to the "Local sellers, Global consumers: E-commerce export trends in Vietnam 2022" report by Access Partnership, Vietnam's B2C e-commerce export value is projected to reach VND296.3 trillion by 2027. Despite ongoing challenges, the country's export e-commerce market has continually demonstrated growth potential. This is evidenced by the consistent presence of Health & Personal Care, Home, Kitchen, Apparel and Beauty products among Amazon's top-growing categories from Vietnam over the past five years.

Health & Personal Care, Home, Kitchen, Apparel and Beauty have consistently been among Amazon's top-growing categories from Vietnam over the past five years.

Global consumer preferences have continuously evolved, allowing certain "Made-in-Vietnam" verticals to capitalize on emerging trends and flourish in international markets. Key category-specific opportunities include:

  • Health & Personal Care: Rising global demand for natural, sustainable products with growing preference for holistic, wellness-focused, and more natural approach to self-care.
  • Home & Kitchen: Increased interest in unique, eco-friendly, and design-forward household goods. Shoppers are gravitating towards one-of-a-kind, artisanal home decor and furnishings that blend functionality with contemporary, minimalist aesthetics.
  • Apparel: Appetite for affordable, versatile fashion brands that can seamlessly transition between work and leisure settings. Consumers are seeking timeless, mix-and-match wardrobes without compromising on quality or design.
  • Beauty: Surging popularity of beauty and cosmetic innovations leveraging local natural resources. Global shoppers are displaying heightened interest in innovative, high-performance cosmetics that celebrate authentic local heritage, while also prioritizing cruelty-free and environmentally-conscious approaches.

By harnessing these evolving consumer tastes, Vietnamese enterprises are poised to accelerate their cross-border e-commerce expansion and capture greater global market share.

Joining hands to expand Vietnam’s potential categories for e-commerce export

To further bolster Vietnamese businesses' cross-border e-commerce capabilities, Amazon Global Selling has announced the second phase of its "Cross-border E-commerce: the Breakthrough Era" program. This initiative is undertaken in partnership with Vietnam's E-commerce & Digital Economy Agency (iDEA), under the Ministry of Industry and Trade (MOIT).

Mrs. Nguyen Thi Minh Huyen, Deputy Director of the Vietnam Department of E-Commerce and Digital Economy (iDEA) under the Ministry of Industry and Trade (MOIT), attended the summit and activated the "Vietnam Industry Linkage" initiative to equip Vietnamese businesses with practical skills to expand global business operations.

As part of this expanded effort, Amazon Global Selling and iDEA have launched the new "Vietnam Industry Linkage" initiative. This comprehensive program will assist key industry associations, including the Vietnam Timber and Forest Product Association (VIFOREST), Vietnam Textile and Apparel Association (VITAS), Handicraft and Wood Industry of Ho Chi Minh City (HAWA) and other associations - with educational and digital upskilling resources, service provider networks, and local manufacturers connecting.

Mrs. Nguyen Thi Minh Huyen, Deputy General Director of Vietnam E-commerce and Digital Economy Agency (iDEA) under the MOIT, stated: "Over the past 2 years, the 'Cross-border E-commerce: the Breakthrough Era' initiative has marked tireless joint efforts between iDEA and Amazon Global Selling to support thousands of Vietnamese businesses in their global expansion journey. Through this program, we've empowered businesses with innovative ideas and in-depth knowledge about effective cross-border e-commerce strategies, while optimizing their operations on Amazon.”

"Now, we will further collaborate with Amazon Global Selling to develop training resources, stay ahead of market trends, and equip enterprises with practical skills to overcome expansion obstacles. Our shared goal is to steadily strengthen the global presence of Vietnamese brands."

At the event, Amazon Global Selling, iDEA, key industry associations, and local business representatives convened a roundtable to discuss and generate ideas for widening the range of Made-in-Vietnam product categories available globally. The collaborative session also explored ways to enhance the readiness of local enterprises for successful e-commerce export.

The round-table discussed to widen e-commerce export opportunities for Vietnam’s potential categories with the participation of Mr. Nguyen Van Thanh, Director of E-commerce Development Center (iDEA); Mr. Phung Quoc Man, Vice Chairman of Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA) and leaders from Amazon Global Selling Vietnam.

Mr Phung Quoc Man, Vice Chairman, Handicraft and Wood Industry of Ho Chi Minh City (HAWA), shared insights at the event's roundtable: "In 2023, the impact of economic decline in key export markets has seen Vietnam's wood and wood product industry export turnover decrease 15.9% compared to 2022, reaching only $13.18 billion. Traditional export segments face mounting challenges - global economic woes, declining consumer demand, increased trade barriers, and tightened monetary policies.

Meanwhile, e-commerce furniture and handicraft sales are still growing rapidly. However, Vietnamese enterprises' participation in exporting through e-commerce remains limited. Businesses in this industry primarily manufacture to order for foreign distributors, and many are small-scale, lacking the capability to build their own brands. This makes them vulnerable to unexpected market fluctuations."

He added, "To promote Vietnamese wood furniture products globally through e-commerce, businesses must invest in product research to meet evolving consumer demand. They also need to build operational capabilities to comply with international technical standards and regulations in destination markets."

Mr. Phung Quoc Man, Vice Chairman, Handicraft and Wood Industry of Ho Chi Minh City (HAWA), shared at the panel discussion.

Mr Truong Van Cam, Vice Chairman and General Secretary of Vietnam Textile and Apparel Association (VITAS) stated: "While a leading export industry, Vietnamese textiles and garments have long faced challenges of over-dependence on foreign partners. Most products are OEM or ODM, lacking our own well-known brands.”

“Entering cross-border e-commerce presents a valuable opportunity for our enterprises to establish and promote Vietnamese textile and apparel brands. We have competitive advantages in pricing and quality, thanks to our skilled manufacturing workforce. However, numerous obstacles persist for businesses seeking to penetrate competitive markets like the US or Europe.”

"Comprehensive support from Amazon Global Selling is crucial. This allows our local enterprises to not only overcome operational and technological barriers, but also gain the necessary know-how to effectively manage cross-border e-commerce. With this foundation, they can then concentrate on delivering exceptional product quality and building strong, internationally recognized Vietnamese apparel brands."

These multifaceted initiative and efforts are integral segments of Amazon Global Selling recently announced roadmap for sustainable growth of cross-border e-commerce, encompasses four strategic focus areas:

  1. Cultivate Talented CBEC Entrepreneurs: Enhance educational and upskilling programs to develop a pipeline of skilled cross-border e-commerce leaders.
  2. Boost the CBEC Service Clusters: Expand and strengthen the network of industry providers to better support local businesses.
  3. Connect and Empower Local Manufacturers: Facilitate the expansion of advantageous "Made-in-Vietnam" product categories across global channels.
  4. Promote Vietnamese Brands Worldwide: Encourage enterprises to elevate their brand presence and value in international markets.

Since its arrival in Vietnam in 2019, Amazon Global Selling is dedicated to supporting local businesses in expanding their cross-border e-commerce ventures. The focus remains on empowering them, enhancing global competitiveness, and promoting Vietnamese brands worldwide.

About Amazon Global Selling

Amazon Global Selling helps businesses from anywhere in the world to launch a global business, reaching Amazon customers around the world and building international brands. Through selling on Amazon, sellers of different types and sizes can directly reach Amazon’s hundreds of millions worldwide active customer accounts, including more than 200 million paid Prime customers worldwide and more than five million of business customers worldwide.

Learn more, please visit: https://sell.amazon.vn.

Source: Brands Vietnam