44.8 million people, nearly 50% of Vietnam's population, shopped online last year, according to the Vietnam ecommerce and Digital Economy Agency which also pointed out that 77% of Internet users, mostly between 18 and 25 years old, shopped online at least once in 2019, most of whom accessed online shops through mobile devices.
Online sales platforms reported a 57% year-on-year rise in sales in 2019 compared to 36% in 2018 & the Vietnamese e-commerce industry is expected to continue to grow by 25% per year to US$35 billion in 2025 with more than half of the population shopping online.
EXPAND & GROW
E-COMMERCE SALES IN VIETNAM
The Vietnamese e-commerce retail sector comprises of thousands of small retailers, who sell online utilizing platforms such as, Facebook, Zalo, Shopee, Sendo, Tiki, Lazada, etc. These ecommerce retailers usually have quite large customer bases of their own, and are always looking for new high quality international products to sell online.
Vietmarkets offers to appoint a number of these existing e-commerce retailers, who are selling products in similar categories as yours, to also sell your products on their sites. This will naturally dramatically increase your sales in Vietnam very quickly.
ONLINE SHOPPING IN VIETNAM
HOW IT WORKS WITH VIETMARKETS
All you need to do, is ship your products to the Vietmarkets Warehouse & Fulfilment Centre, and work out a wholesale price for each product, which includes the shipping, customs, costs, etc, from your country to Vietnam.
Vietmarkets will appoint a number of existing Online retailers who have established businesses on, Facebook, Lazada, Shopee, etc, to sell your products online.
When any one of your products is sold by a 3rd party Vietnamese On-line Retailer, you will receive the wholesale price for it, rather than the retail price, so allowing the Vietnamese On-line Retailer to receive the mark up profit from the retail sale.
The Vietnamese On-line Retailer will be responsible for paying for packaging, labelling, etc for each one of your products sold from the Vietmarkets warehouse. The customer in Vietnam will pay the deliver cost.
When an Online Retailer sells a product they will send all the details of the sale to the Vietmarkets Warehouse & Fulfilment Centre. Vietmarkets will then package and send the purchased product to the customer.
Vietmarkets will collect all monies from retail sales.. At the end of each month Vietmarkets will remit all wholesale monies from sales to you, and the mark-up profit minus labeling & packaging costs to the On-line Retailer.
This is a very simple but effective model, which allows you may to have 50 or more agents, all with good customer databases, selling your products online in Vietnam. Furthermore any Vietnamese tax liabilities will be the responsibility of the Vietnamese Online Retailer, not you, making your life a lot easier.
Any products you sell directly to Vietnamese customers, via your web site or ecommerce channels, you would naturally collect the full retail price for, minus Labeling & Packaging costs.
WAREHOUSE & FULFILMENT CENTRE
The Vietmarkets Warehouse & Fulfillment Centre in Vung Tau Vietnam, operates its own Warehousing -Inventory Management, & Delivery Tracking System, so as to ensure the entire process of online sales, happens on time and efficiently. Online purchases are delivered to the customer’s door, anywhere in Vietnam, within 2-3 days.
FRIEGHTING PRODUCT TO THE WAREHOUSE
Each international manufacturer or retailer will be responsible for freighting all their products they wish to sell online, to the Vietmarkets Warehouse in Vung Tau, and will be responsible for any freight charges and taxes incurred. International Manufacturers should therefore share & add these costs across the wholesale prices of each product.
Vietmarkets suggests manufacturers and retailers initially just send a small number of each SKU, (product) to the warehouse.(20 or less) + one or two of each product we can utilize for test and display purposes, for new on-line sellers. From these initial sales, Vietmarkets and the manufacturer, will both be able to gauge which of their products are the most popular in the Vietnamese market. From these initial sales figures, manufacturers and retailers will be able to adjust all future shipments accordingly.
Once you have decided Vietnam is a great online market to expand into, we will start working with your team. Initially we will invoice you for the Set-up & Establishment Fee, plus the first month’s Management Fee. Also for the first month we will charge you for the minimum Storage Space of one cubic meter. In total we will invoice you for your first month US$180.
After the first month, we will invoice you quarterly, which if you were still only taking up less than one cubic meter of storage space, would total US$30/month, equating to just US$90 for three months.
Once we have received your first month’s payment, which you can pay by PayPal, Credit Card, or Telegraphic Transfer, we will begin working with you to obtain promotional materials and pictures of each product, which we believe will be useful in promoting your products online here in Vietnam. We will also translate some of the promotional materials you have for products, into Vietnamese. This will be at no cost to you, as it is covered by the establishment fee you paid.
If companies work with us in a timely fashion, Vietmarkets in most cases, can have all the establishment tasks finished by the time your products reach the Warehouse & Fulfilment Centre.
WAREHOUSE & FULFILMENT FEES
Set up & Establishment – Vietmarkets offers new ecommerce retailers to Vietnam a US$150 SET-UP FEE to all who register before July 1st 2021 (after July 1st the fee will be US$200). If International Retailers have taken a Display Booth at one of the Vietmarkets Expos, there will be no cost for Set up & Establishment.
Inbound Shipping & Receiving – This naturally depends on the size and quantity of the products being shipped. If they are shipped directly to the Vietmarkets warehouse, there is no charge. If we have to assist in customs clearance and transportation to the Vietmarkets warehouse we will charge US$10/hour plus any transportation costs.
Storage & Warehousing – set price of US$5/Cubic Meter/Month ( minimum allotment one cubic meter)
Box & Packaging Materials – From US$0.25- US$2 per package depending on size and type of Packing required (to be negotiated with seller) (Not Applicable when utilizing Local Vietnamese E-Commerce Retailers)
Pick and Pack – No Charge, (Included in Packaging Fee)
(Not Applicable when utilizing Local Vietnamese E-Commerce Retailers)
Label Printing & Inserts – Print Deliver Label and Inserts US$ 0.15cents
(Not Applicable when utilizing Local Vietnamese E-Commerce Retailers)
Shipping – In Vietnam the Customer always pays for shipping
Returns – Return Shipping Cost Only.
Account Management – US$25/month
REMITTING PAYMENTS TO YOU FOR PRODUCTS SOLD
At the end of each month, Vietmarkets will send you a “Completed Sales Report”, which will show how many of each of your products has been sold and delivered. Upon Receipt of the Report you should make out an invoice to Vietmarkets for all products, at wholesale price, which are listed on the report. After receiving this invoice Vietmarkets will remit the monies to your account within 7 days.
'AN AFFORDABLE PARTNER IN VIETNAM YOU CAN TRUST'
If you would like to find out more regards the Vietmarkets Warehousing & Fulfilment Centre please click the link below and we will get back to you within 48 hours
LATEST VIETNAMESE E-COMMERCE NEWS
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For some such as Vietnam, Thailand, and the Philippines, the number of visits to Android shopping applications jumped over 40 per cent within just three months, an impressive statistic that surpassed all expectations.
In Vietnam, digital payment startup VNPay achieved the unicorn status in late 2020, while their competitor MoMo acquired 10 million new users, doubling their user base within 2020.
Among the top five Asian countries with the highest number of new Shopify stores in 2020, three are in Southeast Asia, namely Singapore, the Philippines, and Vietnam. This means selling cross-border (either through Shopify, Amazon, or their own platforms) into the West will continue to be huge for Southeast Asian businesses.
The Vietnamese eCommerce market is getting crowded with numerous different companies to choose from, a Financial Times (FT) report says, leading to a clash between Shopee and Alibaba. Shopee, the article says, has become a favorite for its free deliveries and low fees. The company, owned by Singaporean tech group Sea, received 62 million monthly visits in Vietnam in 2020's third quarter, an over 80 percent increase from a year earlier. Shopee has also had a robust expansion in Vietnam during the pandemic, and that, according to FT, is part of the development in Southeast Asia's $100 billion digital economy. This market is ready to become a new cornerstone of eCommerce, bringing a spate of rivalries and team-ups trying to build a new digital world and service varied customer needs.