Wood, furniture firms advised to utilise e-commerce to boost exports
Wood, furniture, and handicrafts businesses should fully tap e-commerce channels to reach more customers, and increase sales and revenue, said insiders at a workshop in Ho Chi Minh City on March 8.
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Themed “Cross-border e-commerce – global growth opportunity for Vietnam's furniture export,” the event was organised by the board of the Ho Chi Minh City Export Furniture Fair 2024 (HawaExpo 2024) in collaboration with Amazon and Wayfair.
According to Vice Chairwoman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA) Duong Minh Tue, with its position as one of the leading wood exporting countries globally, Vietnam's wood industry has expanded its export market, penetrating deeper into key markets such as the US, the European Union (EU), the Republic of Korea (RoK), and Japan, and increased its presence in emerging markets such as the UAE and India.
With strengths in forestry development, supportive policies for businesses, and free trade agreements signed with foreign partners, Vietnam's wood and wooden product exports have recorded great success in the international market.
Tue said in recent times, the traditional export market segment has been facing numerous challenges due to weak global consumption demand, increasing protectionist barriers, and countries continuing to maintain tight monetary policies.
However, the sales of furniture and handicrafts through e-commerce have continued to experience remarkable growth, she said, noting that participating in e-commerce platforms is a new direction for Vietnamese wood businesses.
To increase brand recognition and access more customers, businesses need to consider and invest systematically in online sales activities, diversifying sales channels in their business strategies, Tue said.
Although global trade has not fully recovered, global e-commerce continues to grow steadily, Senior Account Manager of Amazon Global Selling Vietnam Nguyen Thanh Yen My said, adding that cross-border e-commerce is a trend and a new form of export, which helps small- and medium-sized enterprises achieve strong growth.
According to My, in the US - Vietnam's largest export market, e-commerce in the furniture industry is projected to grow strongly over the next four years and could reach 118.6 billion USD by 2027.
If Vietnamese businesses can utilise advantages, the efficiency of Vietnam's wood and furniture exports will increases significantly, she said.
Sharing the same viewpoint, Wayfair Supplier Acquisition Senior Manager Jimmy Wangnoted that through e-commerce platforms, Vietnamese businesses can directly access a wide range of customers from all over the world.
(Source: VNA)
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