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Thursday, June 20, 2024

Price wars on e-commerce platforms

By Hung Le

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E-commerce platforms in Vietnam are not only experiencing fierce competition when it comes to product prices but also engaging in a significant race to lower shipping fees among logistics providers. Aggressive pricing Manufacturers and business owners are increasingly relying on online channels as a powerful tool for brand development, viewing it as a fast and efficient means to boost sales. However, price competition on these platforms is becoming increasingly intense. Over the past two years, the domestic market has provided a cushion for companies like Viet Thang Jean (VitaJean), a local jeans manufacturer, offsetting a sharp drop in their international orders from markets such as Europe and South Korea. Notably, VitaJean has experienced robust sales growth through online channels, leading the company to expand its presence on digital platforms. However, the company’s general director, Pham Van Viet, stated that the e-commerce landscape is far from smooth sailing. Aggressive pricing by competitors means products priced at their regular rates struggle to find buyers, especially on trending platforms like TikTok, where competitor products are sometimes priced at only one-third of the cost of those sold by VitaJean. Some online outlets are offering jeans for as low as VND200,000, which is roughly the […]
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