Vietnam e-commerce platform Sendo shoots for profits from online grocery amid stiff competition
The segment is now the company’s largest and fastest-growing, handling about 50 tonnes of goods and serving 10,000 customers daily
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[HO CHI MINH CITY] Facing stiff competition from well-capitalised regional marketplaces Shopee, TikTok Shop and Lazada, many of Vietnam’s e-commerce players have been forced to differentiate their offerings and focus on segments that general platforms often leave aside.
For Sendo – a company founded in 2012 as part of Vietnam’s largest IT services company, FPT Corporation – its future growth and profitability lie in the realm of online grocery.
“What we have seen is that e-commerce is a very competitive, ‘red-ocean’ type of business, where it’s very difficult to make money,” Tran Hai Linh, the chief executive and co-founder of Sendo, told The Business Times in an interview.
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