Amazon Global Selling (AGS) has released its second annual Small and Medium Business Empowerment Report in Vietnam.
This is the only report of its kind which shares perspectives about the future growth of the export and cross-border e-commerce industry in Vietnam. The 2021 SMB Empowerment Report outlines how Amazon has been providing and empowering Small and Medium-sized Businesses (SMBs) with opportunities, tools, and services to help businesses in Vietnam bring “Made in Vietnam” goods to global customers, increase revenue and profits and support the creation of good jobs through its sellers in the wake of the COVID-19 pandemic.
The report comes just ahead of Amazon Global Selling’s 2021 virtual conference for selling partners in Vietnam on December 14-15, 2021.
Cross-border e-commerce (CBEC) has been regularly growing over the past few years in Vietnam. But social distancing and travel restrictions caused by the prolonged COVID-19 have accelerated the rise of the digital economy, hence promoting the rapid development of e-commerce and cross-border e-commerce. In Vietnam, global online export trends have also emerged along with the growth in the size of sellers. From September 1, 2020 to August 31, 2021, thousands of Vietnamese SMBs sold their products overseas in Amazon’s stores. There are many examples of small and medium-sized businesses in Vietnam achieving great export success by selling on Amazon such as Minh Long Ceramics, Royal Helmet, Longevity Sea Grapes, Lafooco, etc.
Amazon Global Selling’s 2021 SMB Empowerment Report outlines top categories of Vietnam-based SMBs with the top-selling in Amazon’s stores which are Home, Kitchen, Home Improvement, Apparel, and Health care & Personal Care. From September 1, 2020 to August 31, 2021:
- Vietnamese sellers sold nearly 7.2 million products on Amazon stores, averaging 14 products every minute
- The number of products sold by Vietnamese SMBs on Amazon’s stores across the world has increased by 34% year-over-year.
- The number of Vietnamese SMBs that surpassed $100,000 in sales on Amazon stores grew by nearly 18% year-over-year.
- The number of Vietnamese SMBs that surpassed $500,000 in sales grew by more than 53% year-over-year
- The number of Vietnamese SMBs that surpassed $1 million in sales grew by more than 40% year-over-year
- Thousands of Vietnamese sellers took advantage of Fulfillment by Amazon, and their FBA sales grew by nearly 50%.
Small and Medium Business Empowerment Report in Vietnam also details how Amazon provides Vietnam’s small business owners, startups, and entrepreneurs with support, tools, and opportunities to sell their products online, directly reach global customers, scale their business, build their brand, and create economic impacts on the global market. Amazon invested more than $18 billion in selling partner success globally last year. These investments include logistics, teams, services, programs and tools that allow sellers to connect their brands directly to millions of customers worldwide. In Vietnam, to empower local manufacturers and entrepreneurs to get ready to build their global brands and put their footprint on global map, Amazon Global Selling has published more than 50 Seller University courses in Vietnamese language attracting hundreds of thousands views and organized more than 70 events, webinars, livestreams to provide sellers with information and knowledge about policies, products, inventory, pricing, branding, etc. Moreover, with the aim of jointly supporting sellers, Amazon Global Selling has also strengthened the collaboration with Vietnam E-commerce and Digital Economy Agency (IDEA), thereby contribute to transforming the export industry and building the “Made in Vietnam” brands on the world map.
Mr. Gijae Seong, Head of Amazon Global Selling Vietnam, said: “Despite presented enormous challenges caused by the prolonged COVID-19 pandemic, this year, we have witnessed the remarkable growth rate of Vietnamese SMBs in cross-border e-commerce through Amazon. Our success in any market, including Vietnam, depends on the success of our selling partners. In 2021, we focused efforts on pivoting the business to Vietnamese Brand Owners and Fulfillment by Amazon (FBA), recruiting high quality local small/medium manufacturers and brands, and providing more education in local language and various forms to change selling partners’ understanding on how to build their brands and pursue sustainable growth with Amazon.
He added: “We want Amazon to be the top trusted place for Vietnamese brands of all types and sizes to succeed. The 2021 SMB Empowerment Report shows how we empower Vietnamese businesses and entrepreneurs by providing them with powerful capabilities and opportunities to achieve growth and trust from customers around the globe.”
Mr. Ly Huy Sang, Deputy General Director of Minh Long I, one of the Vietnamese sellers succeeding in expanding their business on Amazon, shared: “In the past 50 years, Minh Long Ceramics has built a renowned domestic reputation as a high-class traditional ceramics brand. Before making our appearance on Amazon Global Selling, expanding our business to the international retail market has long been our ambition. Thanks to the support of Amazon and its dedicated team, we could overcome initial challenges and step-by-step realize the ambition of bringing our proudly “Made-in-Vietnam” ceramic products to the global market.”
To further help sellers better understand how to start and build their business on Amazon, Amazon Global Selling Vietnam’s largest virtual event 2021 Cross-border e-Commerce Conference will be taken place on December 14-15. Under the theme “Bring Made-in-Vietnam Cross-Border to the Global Map”, this third-year event is expected to attract 10,000 participants and provide Vietnamese sellers with useful knowledge, tools, programs, and services.