10 mln Vietnamese products sold on Amazon in one year

Nearly 10 million made-in-Vietnam products were sold to global customers of Amazon between September 2021 and August 2022, says Gijae Seong, head of Amazon Global Selling Vietnam.

He said this marked a good performance in the context of the Covid-19 pandemic and global economic slowdown.

The executive lauded Vietnam’s achievements at the Amazon Week 2022 celebration Thursday, saying the country was experiencing a golden time in boosting online exports based on strong pro-export policies, robust production capacity and rapid e-commerce growth.

He also noted that the number of Vietnamese sellers on Amazon this year increased 80% year-on-year and the number of Vietnamese businesses using fulfilled-by-Amazon (FBA) jumped 90%, while sales revenue via FBA rose 50% year-on-year.

Best-selling Vietnamese products on Amazon were kitchenware, home appliances, apparel goods, beauty and personal care, and family tools.

Notable brand performances included SunHouse and AnEco kitchenware, Lafooco cashews and ChicnChill handmade décor items.

At the fourth edition of the week-long event in Hanoi, Amazon Global Selling Vietnam announced that building global brands with made-in-Vietnam goods was one of its key targets in 2023.

It urged Vietnamese producers and businesses to cooperate with Amazon, protecting brands via the Amazon Brand Registry program, and developing brands with Amazon tools.

Vietnam is the fastest expanding digital economy in Southeast Asia, crossing Indonesia, Malaysia, the Philippines, Singapore, and Thailand, according to a report released Thursday by Google, Temasek and Bain & Company

The Vietnamese digital economy’s gross merchandise value (GMV) is projected to grow 28% year-on-year to $23 billion this year, up from $18 billion in 2021, bolstered by a 26% year-on-year growth in e-commerce, the report says.

Vietnam’s retail e-commerce gross merchandise value will more than double from $13.8 billion in 2021 to $30.6 billion by 2026, according to a Research and Markets report. The market in Vietnam is expected to grow by 18.56% every year to reach $16.4 billion in 2022, the market insights provider says in its "Vietnam B2C Ecommerce Market Opportunities Databook.”