Brian Jeffrey
Encountering a Vietnamese brand, Yes4All, at the Google Singapore office sparked Brandon Thanh Do’s curiosity. Investigation revealed that Yes4All successfully expanded globally through Amazon’s cross-border e-commerce platform.
Brandon, working at Google, witnessed the challenges Vietnamese enterprises faced post-online export success, such as limited resources for further investment and market growth.
A collaborative effort between Google, Amazon, and Yes4All ensued, with Google offering platform, warehouse, logistics, and payment support. This cooperation allowed Yes4All to tap into a larger client base without the need to establish a new website or infrastructure.
Within a week of promoting five Yes4All products, sales on Amazon surged with a 340 percent return on ad spend.
Vietnamese SMEs, exemplified by Yes4All, have abundant opportunities for online exports. The advent of new technologies enables them to swiftly access global markets through online channels.
Google has introduced tools like Google Trend and Market Finder, aiding enterprises to identify potential markets and consumer demand for their products.
Explosive Growth and Economic Potential
Experts state that Vietnamese enterprises possess a strong global advantage in cross-border e-commerce, ranking fifth in retail turnover growth. Forecasts predict a significant surge in e-commerce exports, driven by SME participation.
Projections suggest that SME involvement could amplify B2E-commerce exports by 2.4 times, hitting $12 billion by 2027, thereby bolstering trade surplus.
As per projections by AlphaBeta, Vietnam’s cross-border e-commerce is anticipated to grow by 20 percent annually, foreseeing a value of $10 billion by 2026.
Amazon’s Impact on Vietnamese Exports
Amazon has witnessed a substantial increase in Vietnamese product exports, with a 300 percent rise in the last five years. In 2023 alone, over 17 million Vietnamese goods were sold on Amazon, marking a 50 percent increase in export value compared to the previous year.
Experts emphasize the significance for Vietnamese enterprises to engage in cross-border e-commerce promptly to avoid falling behind in the coming years.
The model offers three key advantages: control over goods flow and market feedback, improved cash flow management, and the ability to build global brand recognition.
