“The direct competition from foreign goods, particularly from China or larger economies, in Vietnam’s domestic market is inevitable. The best strategy is to bring Vietnamese goods to the global stage,” said Dr. Huynh Thanh Dien from Nguyen Tat Thanh University in an interview with The Saigon Times. Temu’s entry The Saigon Times: The recent entry of the Chinese cross-border e-commerce platform Temu into Vietnam has raised concerns among experts, businesses, and regulatory bodies. What is your view? Dr. Huynh Thanh Dien: Temu, owned by China’s PDD Holdings, launched its international platform in 2022 and has expanded to 82 foreign markets, including the U.S. and Southeast Asian nations like Thailand, the Philippines, Malaysia, Brunei, and Vietnam. Although it hasn’t yet been licensed in Vietnam, Temu’s marketing approach in the country mirrors its strategy in other markets. It offers financial incentives for referrals, steep discounts, free shipping, and a 90-day return policy to build brand recognition and attract users. For a new e-commerce platform entering a competitive market, it is crucial to capture as many users as possible. Temu’s key advantages are its low prices and fast delivery. To achieve this, Temu places large orders with Chinese manufacturers and stores goods at […]