The best time of year has arrived for Southeast Asian e-commerce companies, as thousands of brands across dozens of platforms are preparing for flash sales, special days like 12.12 and 1.1, and a number of unique promotional campaigns to meet the rising demand for end-of-year shopping. According to Metric, sales of over 850 million products on the top 5 Vietnamese e-commerce sites—Shopee, Lazada, Tiki, Sendo, and TikTok Shop—will total VND 90 trillion in Q4 2023.
In an effort to draw customers, Vietnamese e-commerce platforms are still running a number of alluring specials in the wake of the 11.11 sale's success. Since all sellers and reliable brands are included in the promotional sale, Lazada and Shopee, the two biggest e-commerce platforms in Vietnam, are continuing their 12/12 shopping festivals, "12.12 Shopee Live Sale Birthday" and "Great 12/12 War" with full-scale deals.
Shopee only announced a 28-fold rise in the quantity of goods sold worldwide through Shopee Live on December 12. With the participation of celebrities and vendors, the platform achieved a milestone of 26 million products sold in 1.4 million hours of live streaming in Vietnam alone.
At the end of the year, there is a purchasing frenzy due to the e-commerce platforms' sales battle. The Vietnam E-commerce Association (VECOM) reports that, up 20% from 2022 to 2023, total online sales revenue during the Christmas season of 2023 exceeded VND 20,000 billion.
Key shopping trends
As a result, during the end-of-year buying season on Vietnamese e-commerce platforms, the following major shopping trends were noted:
The health and beauty industry's growth rate remained the highest.
The Home & Living sector recorded a growth rate of nearly double that of the same period last year (Q4, 2022) with the best-selling products being mattresses, bed sheets, and cleaning supplies to meet the needs of decorating the house as well as upgrading the quality of life with modern devices to prepare for the end-of-year holiday season as well as the traditional Tet holiday.
The revenue of the home appliance sector also increased five times compared to normal days. Refrigerators, air fryers, and TVs were the products that consumers prioritized.
The grocery sector also recorded a growth of five times compared to normal days. In this sector, milk and detergents are the two groups that consumers buy the most.
Success and new trends, however, also herald the arrival of new difficulties, chief among them being the overabundance of orders that must be processed for logistics purposes. E-commerce warehouses are under a lot of strain when the volume of orders spikes during the year-end sales. This can easily result in a number of delayed delivery orders, inaccurate orders, inaccuracies items, and decreased customer satisfaction.
Businesses and sellers need to be prepared with clever order management techniques in order to overcome these challenges. One of the most effective ways to do this is to use a fulfillment management system. Here's how to streamline your workflow with e-commerce fulfillment management system:
Manage Orders from Multiple Sources: Fulfillment management system has the ability to interface with a variety of e-commerce platforms, giving you the ability to manage orders from several sources all on one dashboard. In addition to saving you time and money, this lowers the possibility of errors throughout the order processing procedure.
Track Order Status in Real Time: Your company can use the system to monitor each order's progress in real time. This makes it easier for you and your clients to know where the order is and when delivery is scheduled. This improves consumer satisfaction and fosters transparency.
Streamline the Shipping Process: Fulfillment management system for processing orders must also be able to streamline the shipping process by pinpointing the ideal locations for warehouses. This expedites shipping and shortens customer delivery times.
Handle Inventory: Ensuring that there is adequate inventory on hand to fulfill demand during the sale event is a critical component of streamlining the order processing process. You may monitor inventory levels and receive information from the system that will assist you determine when to place new orders.
Large Order Processing: In general, Fulfillment management system can handle several orders at once during promotional events, saving you time and lowering the possibility of mistakes.
Reports and Analysis: Offers reports and analysis pertaining to the performance of your order fulfillment. Keep an eye on your order processing volume, success rate, and, most importantly, any process flaws so you can strengthen them.
If order overload, faulty orders, or the processing productivity of warehouse staff is still below expectations are bothering you, don't give up. You will undoubtedly find OCIMI to be a useful partner in resolving that issue.
OCIMI is a consulting partner and exclusive implementation unit of the Vietful Order Processing Solution in Vietnam. OCIMI is proud to have a team of professional staff with over 10 years of experience in the field, who can help your business optimize the fulfillment process in e-commerce comprehensively.
By applying optimization methods in a comprehensive fulfillment system, businesses can build a flexible, efficient fulfillment process that best meets the needs of the increasingly competitive e-commerce market
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