We recently caught up with Chief Executive Officer of major Vietnamese e-commerce player Tiki, Mr Tran Ngoc Thai Son. In our conversation we discussed some of the critical challenges facing the growth of e-commerce in Vietnam, and what keeps him striving to better serve millions of Vietnamese households.
Could you share something about yourself with our readers?
I have the ultimate belief in the power and life-changing effect of the internet. One of my mottos is “In-ternet we believe”
Why is this topic close to your heart?
In 2010, I decided it was time for a fully-fledged general e-commerce website to come around: Tiki.vn. The name bears the virtues of what I believe to be indispensable for my customers: the peace of mind for online shopping with 3 factors – Tim kiem (ease of search), Tiet kiem (affordability), and Tin cay (trustworthiness).
In 2012, Tiki achieved a key milestone when it received the first round of investment from Cyber Agent Ventures and went on to secure series B investment from Sumitomo Corporation in June 2013 and series C from VNG in 2016. Tiki has also been featured in TechInAsia, Forbes Vietnam, Nhip Cau Dau Tu and other reputable business media in Vietnam. Tiki now has over 4,000,000 customers and offers 300,000 products across four merchandising departments and 20 general categories (Books, Electronics, Beauty – Healthcare, Home living, Mom & Baby, etc.) and is recording triple-digit growth per year.
What do you think the key challenges are around scaling e-commerce in Vietnam?
The number one key challenge is consumer trust, followed by supplier trust at number two. Compared to these two challenges, other conventional challenges like payment and logistics etc. seem less hard.
Why are you excited to attend the show?
I am excited to attend the show to talk about the potential and growth of e-commerce in Vietnam, which I think is highly underestimated compared to other countries in South East Asia like Indonesia, Thailand, and Singapore.
What makes you jump out of bed in the morning?
Knowing that we’re working toward making life better for our families and friends and millions of Vietnamese households by providing quality essential products to them every day, and faster, easier & more affordable.
Mr Tran Ngoc Thai Son is one of over 50 speakers who will be taking the stage over two days at Seamless Vietnam. To find out more, and to book your tickets, check out our website here.