Despite the impact of Covid-19, the e-commerce platform has reported an increase in consumption, with demand for online shopping being strong.
As of the fourth quarter of 2021, 60 percent of the platform’s estimated revenues, or approximately $28 million, has been reinvested into B2B e-commerce development to allow local sellers to log into the platform instead of only foreign suppliers.
Buy2sell’s merchandise source until December 2022 is about 45,000 diversified products of food, cosmetics, fashion, technology, household appliances, etc., supplied from more than 60 countries, focusing mainly on segmented high-class. It is worth mentioning that the work of renewing the market, adding more products and helping the Vietnamese market to integrate more through trade agreements CPTPP, EVFTA…
Buy2Sell, a B2B platform for imported goods, launched a new application in December to compete in the e-commerce race in Vietnam. Buy2Sell’s application focuses on high-end products, especially imported organic food, genuine cosmetics and other lifestyle items.
Buy2Sell will expand to allow domestic sellers on its platform instead of only international vendors as previously. It would still enable any buyer matching a seller’s MOQ (order minimum) to purchase goods at wholesale prices.
Buy2Sell has established a flexible delivery policy between sellers and buyers on its platform and application, where sellers can deliver the goods themselves to buyers instead of waiting for a long period of time. This helps buyers receive the goods quicker.
Sales tripled year-on-year in the first half of this year to $24.5 million. The top-selling items were food, cosmetics, home appliances, and other FMCG. Through Buy2sell, all issues from product registration, customs clearance, warehouse, sales marketing and operations are run smoothly with a professional team.
Buy2Sell Vietnam has been a B2B e-commerce platform for imported goods since 2015. Foreign brands make up 90 percent of the products it distributes. Buy2Sell is a financial distribution partner of UOB Bank and a member of CJ Logistics.
In November 2021 Buy2Sell won awards for the ‘Top 100 trusted businesses in Vietnam’ and ‘The Famous Brand in Asia Pacific 2021’.