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Vietnamese SMEs thrive on Amazon, export growing 50%

VIETNAM, February 13 - HÀ NỘI — Vietnamese small and medium enterprises (SMEs) are increasingly leveraging the Amazon platform not only to boost product sales but also to successfully establish brands in overseas markets, Amazon's latest report showed.

The "Vietnam’s SMEs Empowerment" report showed during the 12 months ending on August 31, 2023, Vietnamese selling partners collectively sold over 17 million products on Amazon, achieving an impressive 50 per cent year-on-year export value growth.

The overall export value of Vietnamese selling partners on Amazon witnessed an impressive year-on-year growth of over 50 per cent, with the number of partners surpassing US$100,000 in sales increasing by 70 per cent.

Home, kitchen, health and personal care, apparel and beauty emerged as the most exported and sold categories on Amazon. This trend highlights Việt Nam's historical expertise in producing and exporting key goods such as furniture, handcrafted home decor, and garments. Notably, the rise of health and personal care and beauty categories indicates the expansion of online exports into new and growing sectors.

According to the report, local companies are not only focusing on traditional best-selling products but also venturing into niche products within their top categories. An exemplary case is Abera, a Vietnamese beauty brand focusing on customer-centric product development and brand cultivation has resulted in remarkable success, with over $1 million in revenue within a year on Amazon and a sixfold increase in conversion rates. This success story encourages other local beauty brands to establish their unique identities on the global stage.

Cross-border e-commerce emerged as a crucial factor in the export success of Vietnamese businesses, with the number of selling partners on Amazon's platform increasing by more than 40 per cent. Businesses of various sizes and types, from established retailers like Lamer to traditional manufacturers like Beefurni and start-ups like Tidita and Abera, capitalised on the platform to reach international consumers.

The impact of selling on Amazon goes beyond individual businesses, it has contributed to the revival of local economic communities, the creation of more jobs, and the enhancement of digital skills in the local workforce.

Vietnamese selling partners leveraged Amazon's tools, programmes, and services to achieve significant growth. TIDITA, a wooden kitchenware and home decor brand, attributed its success to robust investment in research and development, early brand building, and the utilisation of Amazon's research tools. LAMER, a fashion producer, streamlined operations and saved costs through Fulfillment by Amazon (FBA), leading to an over 70 per cent increase in the number of partners using FBA and an over 80 per cent increase in their sales.

Furthermore, Amazon Seller University played a crucial role, offering educational resources to help sellers learn the intricacies of global selling on Amazon and grow their businesses and brands internationally.

Gijae Seong, Head of Amazon Global Selling Vietnam, expressed his enthusiasm for the sustainable growth of Vietnamese entrepreneurs and manufacturers, emphasising the vital role of SMEs in the local economy. He affirmed Amazon's commitment to continue innovating and supporting the growth of these businesses into thriving success stories. — VNS