E-commerce (Nutraceuticals, Cosmetics) to Vietnam
Eligible businesses can apply for free support to export nutraceuticals, vitamins, dietary supplements, skin and hair products, and cosmetics to Vietnam. Applications have now closed.
December 2022 to June 2023.
Opportunity to pitch products to an online B2B e-commerce platform, www.chothuoctot.vn 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, 2022). 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).
- Welcome session - online
- Culture and doing business in Vietnam
- Market brief research
Market intelligence and cultural training
- Introduction to Vitamins, Dietary Supplements, Skin and Hair Care, Cosmetics ecosystem in Vietnam
- Strategies to enter Vietnam market - offline vs e-commerce
- Cross-border e-commerce - How "Chợ Thuốc Tốt" works
- Market brief research for products
Regulatory and other requirements for e-commerce
- Introduction to product registration in Vietnam and intellectual property registration
- Freight and logistics
- Customs clearance and import duty payments
Market entry opportunity led by e-commerce service provider
- Discussion on the offer and cost contribution
Market entry program led by e-commerce service provider
- Commercial negotiation between service provider and brands
- Product registration process, on-boarding products on platform
- Logistics, warehousing and fulfillment
- Digital & offline marketing campaigns
Ongoing advice and follow up
- Ongoing support provided by a dedicated NSW Government Export Adviser
Note: The curriculum is subject to change.
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:
- Dietary Supplements
- Skin and hair products
Businesses not eligible for this stream
- Prescription drugs
- Products containing hemp or THC
- Previous Going Global Program participants “to Vietnam”
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.