Kinh tế vĩ mô - Đầu tưNews

Many Vietnamese companies are reaping “sweet fruits” when exporting furniture and art online

Many Vietnamese companies are reaping “sweet fruits” when exporting furniture and art online

During a workshop for Vietnamese small and medium-sized enterprises at the Vietnam Southeast Asia International Furniture & Fine Arts Export Fair 2023 (VIFA ASEAN 2023), a report was published by Alibaba.com, the platform in The Global Business e -The trade sector has burgeoning Trends and growing global trading opportunities in the furniture and art industry highlighted.

Sourcing activity on the platform shows that home and garden products are one of the top three most popular Vietnamese product categories on Alibaba.com. In the last three months, the number of potential buyers for Vietnamese products in this category has increased by 64% compared to the previous year.

Many Vietnamese companies reap “sweet fruits” from online export of furniture and art - photo 1.

illustrations

In addition, the popularity of multifunctional products is increasing sharply in the global buyers’ market. Influenced by changes in the global environment, B2B buyers (in this model, buyers and sellers connect with each other through an e-commerce exchange) are increasingly demanding durable goods that have full functionality, convenience, smart features, and cost-effectiveness.

This trend has opened up significant opportunities for suppliers in new markets. Examples of these products are modular furniture, intelligent furniture and composite furniture.

Other household products that are also heavily searched for on the platform include affordable and practical products such as dining sets, kitchen utensils, home textiles, as well as home textiles and storage and organization products.

These products not only meet the needs of modern lifestyles, but also offer a balance of quality and affordable prices, making them a popular choice among consumers.

Many Vietnamese companies have started to join this platform and have had success, such as Nguyen Phong Metal Company (the company specializes in the manufacture of elaborate iron bending products, including doors, fences and iron railings). Preliminary statistics show that within five years after joining Alibaba.com, export earnings have almost doubled compared to domestic sales with the first Alibaba.com order. Your order is worth nearly $45,000. Keyword advertising and the use of other value-added services on this platform demonstrate business effectiveness, reach customers and increase brand awareness in the market.

A survey by the Vietnam E-Commerce Association (VECOM) shows that furniture is among the TOP 10 most frequently bought and sold products on electronic exchanges in Vietnam in 2019. Specifically, it ranks 8th in the list of the 10 most popular online products, including : clothing, shoes; Electronic cooling; mother and baby; books, stationery; handicrafts; Parts and accessories; Cosmetics; Furniture; Food and drinks; Fast food.

Many Vietnamese companies reap “sweet fruits” from online export of furniture and art objects - photo 2.

There are many online export opportunities for Vietnamese SMEs. illustrations

According to the Statista report, the turnover of the furniture and interior decoration industry in Vietnam is estimated at around 478 million US dollars. The industry’s top-grossing product group is furniture and home appliances, with revenue of $358 million in 2019. Revenue is projected to grow at a compound annual growth rate of 13.5% over the period 2019-2023. . According to this, sales of around 793 million US dollars are forecast for the furniture and interior design business in Vietnam in 2023.

According to experts, in order to realize the potential of this potential furniture market, it is necessary to develop a network of connections with companies and product distributors, create own brands to attract customers, and frequently update furnishing trends regularly in order to diversify the products.

You are reading the article Many Vietnamese companies are reaping “sweet fruits” when exporting furniture and art online

at thuvienpc.com – Source: Cafef.vn

Back to top button