19 potential Vietnamese products on Amazon and strategies to sell them
Below are 19 potential Vietnamese products on Amazon and effective strategies to sell them. Businesses can base on these recommendations to expand their business.
19 potential Vietnamese products on Amazon
1. For Children (Doll, Puppet)
1.1. Dolls
Dolls on Shopee in Vietnam only range in price from 12,000-500,000 VND, while the price of dolls on Amazon is very high, the lowest is about 200,000 VND ($10), the highest is up to 10,000,000 VND ($500). ). Obviously businesses are missing the opportunity to sell items with higher prices and bring greater profits.
23 dollar doll sold on Amazon
1.2. Puppets
The puppet is a fairly new and less popular item in Vietnam, so the price on the Shopee floor of this item is only 10,000-1,290,000 VND.
However, Vietnamese businesses can fully exploit the potential market on Amazon and sell puppets for 100,000-14,000,000 VND (5-700 USD).
140 dollar puppet sold on Amazon
2. Clothing, Shoes & Accessories (Bags, Hairpins, Hair Bands, Hats, Keychains, T-shirts, Wallets)
2.1. Briefcase
Briefcases are a popular and popular item, the price of this item on Shopee Vietnam is about 10,000 - 1,290,000 VND.
These items sell on Amazon for twice as much, from 20,000 to 4,000,000 VND.
25 dollar briefcase sold on Amazon
2.2. Hair pins
Hairpins are an indispensable item for women.
A small minimalist black pin box in Vietnam costs 12 thousand VND, however, when it is listed on Amazon, it can go up to 180,000 VND (6 dollars) a box.
What a huge difference, up to 15 times!
6 dollar hair pins sold on Amazon
2.3. Hair ties
Another must-have item for women, a pretty hair band can help the wearer to brighten up many times, expressing human personality.
Perhaps because of this, there are women in the world who are willing to spend 13,780,000 VND for a sophisticated hair tie on the Amazon floor. This price in Vietnam is 120,000 VND.
Amazon is the playground for businesses who want to raise the bar of their hair.
387 dollar hair ties sold on Amazon
2.4. Hat
Hats are a fashion item that not everyone pays attention to, but those who pay attention must be interested in fashion and their own splendor when wearing a lovely hat.
So there's an Amazon business selling this gorgeous splendor for VND 43,620,000 ($11,800). Along with the hat product on Shopee in Vietnam, it can only be sold for the highest price of 750,000 VND.
What about your business selling beauty, or simply a hat for customers? Both purposes can be achieved on Amazon with a wide range of customers with different needs.
2.5. Keychains
Keychains to make keys easier to find, to express yourself,..., to craft, to technology,... Each need, material, method,... will give a different price. together.
Only on the Amazon floor can businesses find an extremely diverse customer base from many parts of the world to sell all their keychain products.
Currently, this product is being sold on Amazon with prices ranging from 2,000 - 25,980,000 VND and is sought after. Shopee Vietnam floor probably serves less customer needs, with a narrower price range, from 1,000 to 323,000 VND.
2.6. T-shirt
This popular fashion product has quite a variety of prices for many different types on Amazon, with the highest price up to 17,600,000 VND for 1 shirt. On Shopee Vietnam, T-shirts are only available at 20,000-950,000 VND.
Many shirts are of the same quality but are sold at much better prices on Amazon due to demand from all over the world. With relatively cheap production costs, this is an item many businesses choose to do business with, making it easy to make profits.
And selling on Amazon will be a way for businesses to expand their business and make more profits.
3.3. Pillowcase
Pillowcases are one of the essential items in every family, each family with different conditions, needs, and aesthetic tastes has different needs with pillowcases.
To serve a variety of different customer groups and households around the world, the price range of pillows on Amazon is also quite wide: 30,000 - 22,400,000 VND. Pillowcase covers a variety of materials: linen, cotton, ..., with luxurious, popular design,...
3.4. Ring box
Preparing a unique and impressive ring box is just as important as finding the right wedding ring.
Therefore, many smart people are willing to spend a large amount of money on ring boxes, a record of up to 35,780,000 VND for a set of ring and jewelry boxes on Amazon.
Meanwhile, the highest price in a ring box on Shopee Vietnam is 600,000 VND.
3.5. Gift box
The way a gift is given is as important as the gift itself. The gift box is just as important as the gift it contains. A lovely gift box will make a good first impression on the recipient, helping them feel the giver's heart.
Because of that, there is a gift box that doesn't cost up to 7 million VND for sale on Amazon.
4. Jewelry (Bracelet, Brooch, Headband, Necklace, Ring)
4.1. Bracelet
Bracelets have many types, people wearing bracelets have many different purposes: jewelry, feng shui rings, worn for health, expressing personality,... People of all walks of life can have their own bracelets. me, or even many bracelets.
The price of bracelets on Amazon also fluctuates quite a lot: from 200 - 354,000,000 VND, on Shopee Vietnam is 1,000 - 2,290,000 VND
4.2. Brooch
A brooch is a decorative item used to attach to clothes, helping to increase the detail and fashion of the suit. Although it is a small object, the brooch is often the highlight of the outfit, showing the sophistication of the wearer. To have a suitable brooch for their suit, some people are willing to spend millions, even hundreds of millions of dong.
The highest price on Amazon is 168,000,000 VND, the highest on Shopee Vietnam is 900,000 VND.
4.3. Headband
The inherent function of a headband is to keep the hair neat, but it is more than that, the headband is a fashion accessory, favored by many different segments.
Headbands are sold on e-commerce platforms with many different prices, on Amazon, a headband can be sold for from 1,800 - 92,880,000 VND, on Shopee Vietnam this item has prices from 2,000- 450,000 VND.
4.4. Necklace
Yet another stylish accessory for the wearer. This item is sold with many models, types, and origins together on Amazon.
With the lowest price almost the same (2,000-3,000 VND) the highest priced necklace on Amazon (520,000,000 VND) is 434 times more expensive than the highest priced necklace on Shopee Vietnam (1,200,000).
4.5. Ring
The ring can have many meanings depending on the type, the way it is worn, ... not only hope, joy, power, ..., the ring also represents the lifelong bond of a given couple. on the most important occasion of their lives.
Because of its importance, a ring can be made very sophisticated and sold for a very high price: 400,000 - 1,216,160,000 VND (Amazon), 3,500 - 2,820,000 VND (Shopee Vietnam).
Business strategy for these items on Amazon
After knowing whether the products should be promoted, businesses need to know how to trade products on Amazon. The authors have researched to propose a mixed marketing strategy for the product, including: product strategy, pricing strategy, distribution strategy, and communication strategy.
Product strategy
Create an optional Product Package (Bundle):
The Bundle includes highly complementary items, which means that items in the same package complement each other and increase the use of other items in the package or bring convenience to users when they buy them together. When selling a single product, artisans face stiff competition from other brands that sell similar items. The product package is the solution to this problem because it is a combination of many items that are often purchased together (refer to Frequently Bought Together suggested by Amazon).
Artisans can customize packages your products are unique to have Buy Box. Artisans should consider choosing a Bundle for the benefits after:
- On the customer's side: Product packages create real value for buyers when they buy what they need at a discounted price and save time instead of buying each product.
- From the artist side: By combining products into one product package, artisans can sell low-seller products with their best-seller to sell more products. In addition, FBA fees are only charged on one item (package of products) instead of each item, so artisans will be able to make a higher profit and avoid competing with similar products than sell each product individually.
Get the Buy Box:
According to statistics, Amazon generates more than $250 billion in revenue each year, 80% from Buy Box usage. Buy Box stimulates buying demand and customers just click Buy Now to go to Shipping & Payment without considering anything else, and with add to cart, customers have to review selected products at this time. Other proposed products may change customers' minds. Winning a Buy box is very important. Customers will have confidence in high products, exclusive products, and fast sales.
Pricing strategy
Appropriate price changes:
When launching new products or large holidays, can afford a reduced price to attract customers, increase sales. However, it must be calculated carefully that the price reduction does not differ too much, leading to no profit and when returning to the original price, the value of the product is reduced.
Psychological pricing, customers:
Through data collection, the prices of products are not rounded but odd numbers like $9.99, $29. These prices are based on customer psychology, though not much different than rounding, but customers still feel cheaper. Hitting the customer's emotional side gives them an illusion of added value. Catch the target audience through demand research, demographic analysis (age, gender, income, status), behavior (search for handicraft products, relatives environmental friendly, unique, personalized).
Distribution strategy
Place: Amazon Handmade
Communication strategy
Promotion Amazon Ads:
Amazon Marketing Services is a marketing system that allows merchants to run ads on the Amazon platform to help them reach more customers, grow sales, and grow their brand. Amazon Marketing Services includes three advertising forms: Headline Search Ads (Sponsored Ads), Sponsored Products Ads, and Product Display Ads. Sellers can choose one of three types depending on the purpose of the advertising campaign that the seller toward and the amount of budget they are willing to pay to get an advantage.
Brand development on social media channels:
YouTube Channel, Facebook, Pinterest, Instagram.
Deals:
Creating promotions for a certain period will help attract customers and help them make decisions quickly, thereby increasing their revenue.
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Source: Data Analytics Application: A Case Study of Online Business for Vietnamese Handicraft Products on Amazon -Journal of Multimedia Information System | Korea Science
