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Great opportunity in Vietnam’s B2B e-commerce market

Great opportunity in Vietnam’s B2B e-commerce market

Monday 13, 06 2022
According to the latest research by Statista, the revenue of the B2C e-commerce market in Vietnam is forecasted to reach 14.8 billion USD in 2022, with an annual growth rate of about 16.48%.

Features of the B2B model

The revenue of the global B2B e-commerce market has increased 5 times compared to that of the B2C model, and is predicted to be worth 80 billion USD in 2022. This is expected to bring great opportunities and contribute to the development of the online industry in Vietnam, especially the e-commerce market.

B2B e-commerce

Business-to-business (B2B) is a form of trading between businesses and businesses. The model mainly appears in the field of e-commerce, especially on e-commerce platforms.

Not only is it an effective business solution, B2B model also brings many important benefits to businesses in particular and the development of the economy in general. Unlike other business models, B2B has a separate buying process which saves time, costs, and brings many different cooperation opportunities for businesses.

Because each enterprise in the economy is a small link in the whole economic system. Cooperating with a certain enterprise will bring many opportunities to cooperate with several other businesses in the same field and other fields as well, especially when certain credibility with partners is established.

Besides, the business-to-business transaction eliminates subjective emotional factors because it brings collective benefits and has a higher logical element. Because of that, the efficiency of business cooperation is also higher.

Vietnam’s B2B e-commerce market

Currently, B2B is a relatively new model in Vietnam, but in the near future it will be an opportunity to promote business for companies and manufacturers in Vietnam. Tran Nhat Khanh, co-founder of Touchstone Partners Investment Fund, said: "There’s a huge potential in Vietnam's B2B e-commerce segment because the buying and selling needs of these two objects are equally exciting."

B2B

Reality shows that many B2B models have come into operation in the past time such as Halana (e-commerce platform connecting industrial parks), RCE (connecting customers with heavy industrial equipment) or Phaata (connecting logistics enterprises in the field of import and export).

In the latest move, Avetti Commerce Corporation officially joined the Vietnamese market. The company will provide a marketplace platform, also known as an exchange among B2B businesses in Vietnam. Avetti Commerce is headquartered in Canada and has offices in 7 other countries around the world. It was established 20 years ago.

In Vietnam, this Canadian company embarked on a strategic partnership with AKa Digital - a member of Lava Digital Group, which is among top 3 independent digital media agencies in Vietnam. Through the partnership, Avetti Commerce and AKA Digital will provide corporate customers with the most optimal product distribution methods on the Marketplace platform.

AKa Digital

Specifically, the two parties will create a complete B2B e-commerce application marketplace platform, allowing distribution channel members to enter Marketplace and manufacturers to be fully proactive in sourcing, make import plan with transparent price and high quality. In addition, the solution is also optimal for businesses in developing the e-commerce ecosystem.

B2B model is much more difficult than B2C because of the number of customers, large order size and more complicated issues. Not to mention, with B2C, customers who buy and are not

In the current context of the global supply chain facing many risks, such B2B platform can help sellers put their goods up for sale without having to arrange to join conferences like before.

Source: cafebiz

Compiled by VietnamCredit

 

 

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