Opportunity for Vietnamese goods to conquer international market through e-commerce

Thursday, 30/05/2024 16:45
(CPV) - In the context of the international trade market being more competitive than ever, the development of e-commerce has opened up new opportunities for export businesses.
Photo for illustration (Source: Internet)

Through e-commerce, businesses can reach new markets and develop online sales channels to bring their products to customers around the world. It is forecasted that the cross-border e-commerce market could reach VND 300,000 billion by 2026. This is both an opportunity and a challenge for Vietnam to overcome to achieve this goal.

Vietnam's online exports: opportunities and challenges

Online export - e-commerce opens up many opportunities for businesses to access the global market, build and strengthen their reputation in the international market, and optimize export costs and time. Vietnamese businesses can reach a large number of consumers around the world through the Internet, thereby expanding the scope of product consumption.

However, e-commerce also brings significant challenges to businesses such as competitiveness, infrastructure and technology development, along with the need for innovation to meet the challenges of foreign businesses. The e-commerce environment is becoming increasingly competitive, especially when the market is entering the digital transformation phase.

Recently, the Vietnam E-Commerce Association (VECOM) and units and businesses have been very active in trade promotion activities through cross-border e-commerce. Mr. Vo Van Khanh, VECOM representative, said that in the coming period, VECOM will promote Vietnamese products to participate in the product evaluation program suitable with cross-border e-commerce channels in the Korean and Chinese, Thai and Lao markets. Hopefully, this will be an effective program for the Vietnamese business community interested in this market.

At the same time, in order to facilitate B2B e-commerce connections, we are supporting and accompanying local departments to organize online exhibition programs and regional links to connect and create conditions for the micro, small and medium enterprise (SMEs) community to have opportunities to approach domestic and foreign distributors and conduct market assessments through online channels.

Solutions to promote Vietnamese products to conquer international markets through e-commerce

In recent years, Vietnam has reached many important achievements in economic development thanks to promoting openness, integrating into the world economy, and actively participating in the network of free trade agreements (FTAs) at many levels, thereby creating many new opportunities for the online export sector.

Although the opportunity is great through supporting SMEs in big cities and localities, SMEs still have many limitations such as not knowing how to create a brand, and lacking experience in international trade, negotiating, and in navigating customs and logistics.

To be able to access new markets and bring their products to customers around the world, SMEs in Vietnam need to implement a comprehensive strategy, improving the quality of products and services, building and managing online sales channels, collaborating and linking with partners to take full advantage of opportunities from cross-border e-commerce.

Specifically, SMEs need to continue to research and grasp the trends and needs of the international market to develop suitable and competitive products and services; develop and manage online sales channels such as websites, online stores, e-commerce platforms, invest in advertising strategies to reach customers around the world; ensure that their products and services meet quality standards and requirements of the international market to create trust and attract customers.

At the same time, it is necessary to seek opportunities to cooperate and link with domestic and foreign partners, including manufacturers, distributors, shipping and payment partners, to expand the scale and scope of operations; training and developing human resources to grasp the necessary skills in the field of e-commerce and online business management./.

Hong Anh