In recent years, e-commerce has become an essential component of global shopping. Similar to numerous other sectors, the commerce of products has had a significant evolution due to the emergence of the internet, and as a result of the continuous digitalisation of contemporary existence, customers globally today benefit from the advantages of online transactions. With the swift expansion of global internet access and adoption, surpassing five billion users, the quantity of individuals engaging in online purchases is always rising. In 2024, global retail e-commerce sales are projected to surpass 4.1 trillion U.S. dollars, with expectations for further growth in subsequent years (*). Here, we explore the top three e-commerce platforms globally, highlighting their features, key statistics, and the insights that set them apart.
- Amazon:
Founded by Jeff Bezos in 1994, Amazon has evolved into the world’s largest e-commerce platform, offering sellers unparalleled opportunities to reach a global audience. With over 310 million active users and more than 200 million Prime members, Amazon’s ecosystem is designed to support businesses of all sizes. For Vietnamese SMEs and sellers, Amazon represents a gateway to international markets, enabling them to showcase products like handicrafts, coffee, tea, and apparel to millions of buyers worldwide.
Programs like Amazon Global Selling provide Vietnamese sellers with training, tools, and logistics support to scale their businesses effectively. Through services such as Fulfillment by Amazon (FBA), sellers can offload storage, packing, and shipping responsibilities, ensuring faster delivery and high customer satisfaction. With its robust recommendation engine powered by AI, Amazon helps sellers personalize the shopping experience for their customers, increasing visibility and sales potential.
Vietnamese businesses stand to benefit significantly from Amazon’s global presence and growing market share, projected to surpass $524 billion in global sales by 2024. However, success on Amazon requires meeting stringent standards, including legal documentation, product quality assurance, and excellent customer service. By leveraging Amazon’s infrastructure and tools, Vietnamese sellers can position themselves as competitive players in the global e-commerce landscape, tapping into markets like the U.S. and Europe with confidence and efficiency.
- Alibaba:
Established by Jack Ma in 1999, Alibaba has emerged as the preeminent e-commerce platform in China and a global frontrunner in wholesale and cross-border commerce. Platforms like Alibaba.com, Taobao, and Tmall address various market demands, with Alibaba.com particularly proficient in linking manufacturers with global bulk purchasers. Alibaba offers Vietnamese vendors a strategic opportunity to access worldwide markets, capitalising on Vietnam’s manufacturing capabilities, affordable labour, and an increasing reputation for quality products.
Alibaba’s approach in Vietnam is comprehensive, providing resources like training programmes, localised assistance, and collaborations with SMEs to enable sellers to fulfil global trade requirements. Utilising platforms like as Alipay for frictionless transactions and Cainiao logistics for quick shipment, Vietnamese sellers can adeptly manage the intricacies of cross-border business. Campaigns such as Made in Vietnam correspond with governmental endeavours to enhance digital exports, facilitating vendors’ access to markets in Asia, Europe, and beyond.
Alibaba, boasting over 1 billion active users annually and a GMV of $1.3 trillion in 2022, offers Vietnamese sellers access to an extensive consumer base and sophisticated technology such as AI and big data to enhance inventory and logistics management. Sellers must prioritise bulk production capability, adherence to international shipping regulations, and comprehension of regional market demands to succeed on the marketplace. Alibaba is expanding its presence in Vietnam, establishing the country as a significant participant in global trade by providing vendors with essential tools and infrastructure for success.
- Shopify
Launched in 2006 by Tobias Lütke, Shopify has become the go-to platform for small businesses and entrepreneurs looking to set up and run their own online stores. Shopify is a great alternative to Amazon and Alibaba for Vietnamese sellers who want to stand out online and grow internationally because of its focus on autonomy and personalisation.
The user-friendly tools offered by Shopify, such as customisable layouts, multi-channel connectivity, and extensive analytics, can be a boon to Vietnamese enterprises ranging from artisians to digital startups. Vietnamese vendors may easily connect with buyers all over the world thanks to Shopify’s support for international market-specific payment methods. Because of its scalability, it can accommodate sellers who are just starting out or are looking to expand their current business.
Shopify gives Vietnamese vendors access to a global audience in 2022—one that will be $307 billion strong—while letting them have complete creative control over their branding and the shopping experience for their customers. Shopify is present in 175 countries and will continue to grow. To be successful on Shopify, sellers must have solid knowledge of branding, focus on customers, and know how to use Shopify’s tools to boost sales and marketing. Shopify enables Vietnamese firms to display their creativity and ingenuity on a global platform, helping them capitalise on the expanding entrepreneurial ecosystem in the country.
Unlocking Global Potential for Vietnamese Sellers
Vietnamese sellers have a unique opportunity to leverage platforms like Amazon, Alibaba, and Shopify to reach global markets and showcase the country’s rich manufacturing capabilities, cultural heritage, and entrepreneurial spirit. By utilizing Amazon’s vast global reach, Alibaba’s wholesale and cross-border trade ecosystem, and Shopify’s customizable e-commerce solutions, Vietnamese businesses can expand their customer base and drive international sales. Success will require investment in quality, branding, and compliance with international standards, but with these platforms’ tools and resources, Vietnamese sellers are well-positioned to thrive in the global e-commerce landscape. As digital connectivity continues to grow, these platforms will remain invaluable for Vietnamese entrepreneurs aiming to take their products to the world.
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