Cross-border e-commerce helps SMEs expand business

Sunday, Jan 01, 2023 16:34

Many SMEs achieve high growth thanks to cross-border e-commerce. — Photo Courtesy of Amazon Selling Vietnam

Cross-border e-commerce not only opens a new gateway for Vietnamese entrepreneurs and manufacturers to expand their businesses but also becomes a powerful engine for the development of the country’s economy, experts said.

In its 2022 Vietnam Small and Medium Businesses (SMBs) Empowerment Report, Amazon Global Selling says that despite global economic challenges, cross-border e-commerce is still experiencing positive growth and contributes to the resilience of local enterprises.

Accordingly, the number of Vietnamese selling partners on Amazon has increased by more than 80 per cent, most of whom are small and medium enterprises, illustrating that cross-border e-commerce is not only for big brands anymore.

In 2022, Vietnamese selling partners sold nearly 10 million products in Amazon online stores and the total export value with Amazon has increased more than 45 per cent.

The report also reveals impressive results, with the number of products sold by Vietnamese selling partners on Amazon's store increasing more than 35 per cent year-over-year.

In addition, the number of Vietnamese selling partners that surpassed $500,000 in sales grew by 60 per cent.

Vietnamese small and medium-sized businesses (SMBs) are harnessing the power of online stores and export opportunities to drive revenue and increase resilience, according to the company.

“During the last three years, Amazon Global Selling Vietnam has supported thousands of local enterprises on their online export journey and increased resilience through this historically challenging time. The 2022 Vietnam SMEs Empowerment Report shows how Vietnamese entrepreneurs and manufacturers scale and grow with cross-border e-commerce. We are committed to accelerating the growth of Vietnamese businesses to the world and equipping them to embrace changes and reach new heights in this new global environment. We hope to see more Vietnamese brands entering and expanding their path internationally through global selling on Amazon,” Gijae Seong, head of Amazon Global Selling Vietnam.

Many SMEs, such as AnEco, LAFOOCO, SUNHOUSE and HMG, have successfully surfed the wave of cross-border e-commerce. Also, many jobs have been created thanks to cross-border e-commerce.

“Amazon has paved the way for us to approach 300 million global customers, providing us with effective branding tools to promote our products and enabling us to improve product quality and brand credibility based on a diversity of customers' feedback. During the first seven months of 2022, via Amazon, AnEco reached tens of thousands of global customers with remarkable growth of the total sales, about five times higher than 2021,” said Nguyen Le Thang Long, deputy CEO of An Phat Holdings.

Through selling on Amazon, sellers of different types and sizes can directly reach Amazon’s 300+ million worldwide active customer accounts, including more than 200 million Prime customers worldwide and more than five million business customers worldwide, according to Amazon. — VNS

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