Buy2Sell a fintech solution for B2B ecommerce in Vietnam14/01/2022Despite 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.
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.
Until December 2021, Buy2Sell's merchandise source comprises about 45,000 products of food, cosmetics, fashion, technology, household appliances... from more than 60 countries, focusing on high-class segment. By renewing the market and adding more products, Buy2Sell aims to promote Vietnamese market integration through trade agreements like CPTPP, EVFTA...
Buy2Sell, a B2B platform for imported goods, launched a new application in December 2021 to compete in the e-commerce race in Vietnam. The application focuses on high-end products, especially organic food, genuine cosmetics and other lifestyle items.
Domestic sellers will be allowed instead of only international vendors. The platform will still enable any buyer matching a seller's MOQ (order minimum) to purchase goods at wholesale prices.
Buy2Sell has established a flexible delivery policy on its platform and application, where sellers can deliver the goods themselves to buyers without having to wait for long.
A Buy2Sell warehouse in HCMC. Photo by Buy2Sell
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’.
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