Vietnam – Vietnamese MSMEs with B2C e-commerce export value are forecast to grow from US$3.3b in 2021 to US$11.1b by 2026, according to a report by the e-commerce exports program Amazon Global Selling.
The newly released report found that if ‘B2C e-commerce’ were an export category, it could be the fifth-largest export category in Vietnam in five years. It also discovered that 88% of surveyed MSMEs in the country feel that e-commerce is critical for their ability to export, while some of them anticipated greater sales growth prospects overseas with 42% more than in their home country with 11%.
Moreover, the survey has revealed that key challenges can be narrowed down to three categories, namely barriers in cost, regulation, and information and capabilities.
Meanwhile, more than 80% of surveyed local MSMEs yet admitted that they lack information on relevant regulations overseas, while 85% believe they lack the ability to compete with other sellers globally, and 81% admitted that they are unsure of foreign consumers’ demands and preferences.
Gijae Seong, Amazon Global Selling’s head for Vietnam, noted, “Local businesses of any size can benefit from the report on Vietnam e-commerce export trends to update about export potential, the perspective of local MSMEs, and best practices to achieve that potential.”