E-commerce (Nutraceuticals, Cosmetics) to Vietnam

Program dates

November 2022 to June 2023.

Key event

Opportunity to pitch products to an online B2B e-commerce platform used by Vietnamese pharmacies (Hoang Giang Sai Gon Pharmacy).

There may be an in person product launch event, travel is not required, but encouraged.

Why this market

With a young, educated and bourgeoning workforce, Vietnam has been one of the fastest-growing economies in Asia, with 6% average annual growth 2011-20 (Fitch Solutions, 2022). 

Vietnam presents some of the most exciting opportunities in e-commerce, globally. Since the start of the pandemic, more than 8 million new digital consumers have emerged in Vietnam (Source: Google, Temasek, Bain, 2022Download File). Vietnam’s e-commerce sector is expected to reach a Gross Market Value (GMV) of USD$39 billion by 2025, representing a 32% increase from 2021.

While B2B e-commerce remains relatively new in Vietnam, B2C uptake is underwriting a ‘business shift’ to B2B e-commerce. An additional driver for B2B e-commerce potential in Vietnam is the increase in free trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership.

Along with the growth in e-commerce, Vietnam’s vitamins and dietary supplements market has surged over the last five years. Expanding from nearly AUD $740 million in 2016 to AUD $1.28 billion in 2021. (Source: Euromonitor).

Curriculum

Introductory session

• Welcome session - online
• Intro to product registration in Vietnam and Intellectual Property registration
• Exporter training – Customs clearances and import duty payments

Market intelligence and cultural training 

• Introduction to Vitamins, Dietary Supplements, Skin and Hair Care, Cosmetics ecosystem in Vietnam
• Market specific business culture and etiquette
• Regulatory requirements
• Market specific pitch coaching workshop
• Freight and logistics

Instruction and preparation led by the E-commerce service provider 

• Product registration in Vietnam
• Onboarding the Brand on the e-commerce Platform
• Warehousing and fulfillment
• Logistics
• Digital & offline marketing campaigns (as agreed with the brand)
• Forecasting quarterly sales

Ongoing advice and follow up  

• Ongoing support provided by a dedicated NSW Government Export Adviser 

Participation requirements and success factors

Eligibility for the overall Program

• Have headquarters in NSW
• Have a valid Australian Business Number (ABN) registered for NSW 
• Be export-capable and export-ready 
• Have an employee number between 3 and 199 full-time equivalent (FTE) employees 
• The product or service must be produced primarily in NSW
• The product or service is achieving sales already
• Have a website featuring the product or service
• Be prepared to adapt the product or service for the new market
• Be flexible regarding market-entry method
• Have resources to support marketing and development for a new market
• Be willing to travel to the selected market (where and when travel is permitted) and/or to Sydney for events, and must cover own travel expenses

Note this program is designed for NSW businesses who produce and own their own brand. This program is not for aggregators, traders, or businesses who sell services to exporters

Additional eligibility requirements for this stream

• Ability to commit to market without immediate returns
• Prepared to cover the costs of product registration, permits, shipping and logistics

The ideal participant

Ideal product categories include:

• Vitamins
• Dietary Supplements
• Skin and hair products
• Cosmetics

Businesses not eligible for this stream

• Prescription drugs 
• Products containing hemp or THC
• Previous Going Global Program participants “to Vietnam”

Information session

An information session was held on 27 October 2022 from 3:00pm - 3:30pm.

How to apply

Applications have now closed and applicants will be notified of the outcome around 28 November 2022.

Note:  Apply for your preferred market - you can apply for and participate in only one stream.