Key in your market entry strategy is some market research. Of course there are reports on market size and market growth, but often these are general. Specific knowledge on how your product is perceived and what your competitions is, is harder to get but more valuable.
Vietnam, in Southeast Asia has a population at around 100 million. Vietnam has experienced rapid economic growth in recent decades, becoming an emerging market in the region.
With a GDP per capita of about $3,500 USD in 2023, Vietnam’s economy is driven by agriculture, manufacturing, and services. Rice is a key agricultural product, and Vietnam is one of the world’s leading rice exporters. Manufacturing, particularly in textiles, footwear, and electronics, has seen significant growth. Tourism is also a growing sector, with its rich cultural heritage and natural attractions.
Vietnam imports machinery, refined petroleum, and electronic equipment, essential for its industrial and consumer sectors.
Important cities include Hanoi, the capital with a blend of Eastern and Western cultures; Ho Chi Minh City (formerly Saigon), the economic powerhouse; and Da Nang, known for its beaches and port.
Almost every country or trade block in the world has its own detailing on the international HS-code list. With our report you strongly reduce the risk on misclassifications, delays and higher custom duties than expected.
Tell us what you want to ship and where to and we ask you all relevant questions to get to the most likely code.
If you have a consumer product that you can’t sell directly from your home country to your end customer, you need at least one step in between. This can be a distributor (who also acts as wholesaler or importer), a big retailer directly, or it can be a large web shop. Let’s look at the pro’s and con’s of each option.
For a B2B product that is not a commodity or for customized solutions the story is different. Here sales needs to be done in alignment with the department that actually delivers the service or that determines the price case by case. Also then you have three different options.
As counts for any country: you first have to define the target group that you want to sell to. If these are businesses, then you can reach out directly through emails and targeted advertisements, e.g. on LinkedIn. If this arouses interest and gives a sufficient response rate, then you may have found an easy way to get the market’s attention.
If your target group is more diffuse, or is a consumer group, then you have to rely more on advertising such as on Facebook or Instagram.