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Vietnamese merchants to get on board Amazon’s Global Selling network.
Merchants in Vietnam will be able to sell to wholesale buyers in US, Japan and Europe. This is Amazon’s first ecommerce operation in the country. Amazon has a partnership with VECOM, Vietnam E-commerce Association, which brings together a consortium of local online sellers.
Vietnam is a key manufacturing hub and one of the top exporters in the world. The international market offers opportunities for local manufacturers as the Vietnamese market is still small.
“Vietnam has more than 700,000 businesses, 98 per cent of which are SMEs. Therefore, in addition to traditional trade promotion initiatives, developing e-commerce is critical,” said Vu Ba Phu, head of the ministry’s trade promotion agency.
There are many local ecommerce players, but grocery is not a key focus. We believe it is unlikely for Amazon to enter grocery retail in Vietnam in the near future. Local grocery retailers like Saigon Co.op and VinMart have just launched their ecommerce site in the last couple of years. Tiki.vn, which started in 2010 as a bookseller, has started selling dry groceries but no firm plans to enter the fresh category yet.
Keep up-to-date with the latest retail developments from Asia.