US internet giant Amazon has rolled out new initiatives to facilitate cross-border activities among Vietnamese sellers and exporters.
|With the new website, Amazon is trying to assist Vietnamese sellers and exporters to join its e-commerce platform |
Specifically, Amazon’s global selling division has recently launched a localised website and an official Facebook fan page in Vietnamese language for online retailers in Vietnam. This is part of Amazon’s efforts to aid Vietnamese retailers to expand their business and access international customers via its e-commerce platform.
Amazon Global Selling has joined forces with the Vietnam Ecommerce Association (VECOM) to organise the first conference for Vietnamese sellers. Titled “Selling Globally on Amazon,” the conference has attracted 1,000 ecommerce operators and sellers who wish to join the Amazon platform.
Joonmo Park, head of Amazon Global Selling in the Republic of Korea and Southeast Asia, said that the language barrier is one of the biggest challenges for Vietnamese sellers and exporters when it comes to cross-border e-commerce business. Therefore, these initiatives will help remove language barriers to support local individuals and small-scale firms to join the Amazon platform.
He further noted that cross-border e-commerce is a big trend in the world with an annual growth rate of 20-30 per cent. Amazon has more than 300 million active customer accounts, including 100 million Prime members. Therefore, Vietnamese sellers on Amazon will have the opportunity to approach a huge customer database spanning 180 countries and territories.
Furthermore, there is an increasing number of Vietnamese online sellers trading on the Amazon Global Selling website, including manufacturers, brand owners, and retailers. Amazon’s new solutions would encourage more Vietnamese sellers to add their locally made products to the platform as well as increase their export value.
Nguyen Ky Minh, director of EcomViet, under the Ministry of Industry and Trade, cited data from a foreign market research firm saying that Southeast Asia’s ecommerce industry posted a revenue of some $5.5 billion since 2015 and is projected to reach an estimated $88 billion by 2025. The growth of e-commerce will likely surpass other sectors like online travel agencies or ride-hailing services, presenting enormous opportunities for online retailers.