Buy2Sell sales triple in H1

By May Pham   July 16, 2021 | 11:00 pm PT
Despite the impact of Covid-19, e-commerce platform Buy2Sell has reported an increase in goods consumption, showing the huge demand for online shopping.

Buy2Sell has reported sales in the first half of this year tripling year-on-year, reaching a total value of about $24.5 million. The top-selling items are food, cosmetics, home appliances and other FMCG.

"The booming online shopping trend is a signal for the digital transformation period of the future market in Vietnam, creating the opportunity for Buy2Sell to become a pioneer supplier with abundant supply for sellers in Vietnam's billion-dollar B2C ecosystem," a representative said.

In June 2021, Buy2Sell reported more than 200,000 merchants registered on its system.


A Buy2Sell retail outlet. Photo by Buy2Sell.

"Many traditional businesses and traders have stopped doing business and gone bankrupt because of their Covid losses, leading to supply shortage. Therefore, domestic wholesalers and retailers are facing two problems: lack of competence and experience in importing goods, not being able to pay higher prices, and shortage of supply," he added.

To address these problems, Buy2Sell allows online sellers to build their own sales network, aiming to keep pushing promotion further into online B2B and B2C sales. The platform is also to develop a mobile application to connect goods with buyers in an easier and quicker way.

The goods are more stable and competitive for end users as Buy2Sell directly imports from foreign manufacturers.

Buy2Sell Vietnam has been a leading B2B e-commerce platform for imported goods in the country since 2015. The company distributes 90 percent of foreign brands.

Buy2sell recieved "Top 100 Vietnam's most trusted brands 2021" award. The company has six retail outlets in famous shopping centers across Ho Chi Minh City and Hanoi, including Lotte Mart and Vivo Mall.

Buy2Sell plans to expand to more than 40 stores until 2022. In April 2021, Buy2Sell Vietnam signed a memorandum of understanding on cooperation with CJ Logistics to support imports and exports in Vietnam.

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