Many Export Opportunities for Enterprises through Digital in 2023

Alibaba.com – one of the leading B2B E-commerce platforms, has just announced the 2023 Annual Digital B2B Outlook Ebook for Vietnam market. The exclusive Ebook by AliResearch – That gather contributions and efforts from businesses, academics and research institutions, to help businesses accelerate digital transformation. Ebook highlights current global market trends, and explains how Alibaba.com in Vietnam can help small and medium enterprises (SMEs) overcome a string of difficulties and uncertainties in 2022, towards a successful future development prosperously in 2023.

Global B2B E- Commerce Trends

According to Ebook with the lingering shocks of the pandemic, more and more businesses will move to digital. The relative stability of digital sales will be what many companies need to maintain their operation in the coming year. This trend also implies that B2B online sellers are like ly to see greater competition in next year.

Mr.Andrew Zheng – Vice President of Alibaba.com said: “We discovered some lessons that B2B businesses can learn to apply in new year. The first lesson is that a stable B2B e-commerce platform, worth thousands gold. As e-commerce flourishes, finding destination to sell as well as sourcing is very important. The second lesson is how value of strengthening partnerships with trusted suppliers.   As a business owner or COO, you know there will be fluctuate, so you need partners who can together facing huge movement with you.”

When moving to digital, digital marketing has always been a great attraction to enterprises, especially there are 93% interaction through search engines. With digital marketing, new entrants market can take action immediately to get a piece of those interactions. Besides. The possibility that the number of companies using digital tools for administrative purposes will also increasing.

Some long-term trends takes place constantly, such as the rising of personalized experiences and video marketing in B2B e-commerce. But some new trends will take center stage, such as the reduced time consumers spend online.

The opportunities of Vietnam small and medium enterprises

Vietnam export volume has increased rapidly over the past year, contributing to success growth over the past decade, and emphasis Vietnam manufacturing to global market. There are many reasons for this growing, from political events and a shift in the structure of foreign investment to the of pandemic and global supply chain problems. Each piece has come together, making Vietnam to be an important player in global economy. Vietnam is also a member of Free Trade Agreement (FTAs) and a member of the Regional Comprehensive Economic Partnership (RCEP). This create even more opportunities for SMEs in new foreign markets.

Mr. Roger Lou, Country Manager of Alibaba Vietnam, said: “Vietnam has always been one of Alibaba’s most strategic markets. Currently, Vietnam suppliers mainly to United States, Europe, Japan, Korea and Asia Pacific countries. We continue to expand investment in Vietnam and establish a local ecosystem, including domestic channel partners, local customer service and development team, market operations team… to continuously improve the organizational capacity of local teams.”

The role of Alibaba.com in Vietnam Digital B2B Export

Unlike the Chinese suppliers on the platform, the majority of the global suppliers on Alibaba.com are manufacturers that produce their own products, with nearly 40% of the suppliers having annual revenue less than USD100 thousand. According to Alibaba.com research, 60% of suppliers have no experience in e-commerce before joining platform, 42% of sellers use Alibaba.com as their main source of business with 60% aiming to enter new market. The numbers show that Alibaba.com is save channel for small business owners who have no experience or knowledge of exporting, or can’t afford the budget of travel and trade shows.

Mr Duong Khanh Toan, International Business Development Manager of Me Trang Coffee Joint Stock Company, said: “We will invest more in Alibaba.com, as it’s the best saving platform on market nowadays. Traditional marketing for international market is too expensive for us.”

Mr Bui The Anh, CEO 5S Hair, shared: “We realize that the potential with Alibaba.com for market expansion is great, it’s just a matter of time and implementation, after 10 days of completing our online booth on Alibaba.com, we have received 50 inquiries and closed the first order. Customer have profit margin 75% on Alibaba so we are willing to invest more.”

“Currently, on our Alibaba.com platform, more than 70% Vietnamese suppliers are rated from 2 stars up, with main categories including F&B, Agricultural, Home & Garden, Beaut & Personal Care, Furniture,  Construction, Packaging, Plastic & Rubber, Machinery and others.Over 800,000 products are listed, and over 70,000 inquiries are received each month worldwide.”, Mr. Roger Lou, Vietnam Country Manager of Alibaba.com, emphasizes.

According to Alibaba.com, to be success on the platform, sellers need to have good negotiation skills, strong country origin and a low minimum order quantity (MOQ). Investing in platform operating is essential to help sellers reach more customers. Efficient day to day operations allow sellers to secure more orders. More than 30% of sellers have dedicated staff to operate online stores that can secure more than 6 important order on platform each year. For seller operating through a third party reseller, about 1 to 10 orders are viable in the first year.

Learn more about Alibaba.com’s “Vietnam Digital B2B Outlook 2023” at the website: https://seller.alibaba.com/pages/vietnamoutlook?tracelog=outlook2023

T.T (Vietnam Business Forum)