V-MORE Merchants Pte Ltd is an international online e-commerce supply chain management platform. The company is headquartered in Singapore with a rapidly emerging presence in major South East Asian Markets. Having onboarded more than 500 merchants successfully, V-MORE envisions being a global leader in e-commerce and aims to brand itself as trending with the evolving urban lifestyle, offering value for high quality products.

In May 2019, V-MORE Merchants Pte Ltd approached the SME Centre with the aim of diversifying into Ho Chi Minh City, Vietnam. Apart from other markets where the brand has already developed a significant presence, penetrating Ho Chi Minh City would prove to require a wider strategy, mobility options and localisation.

Preliminary research showed that the Vietnamese market promised an increasingly young population, with a strong purchasing power. A growing economy offering investor friendly policies and technology adoption for business also were motivating factors for a promising market entry.

Sneha, our Business Advisor from SME Centre @SMCCI and Flame Communications Pte Ltd, a Public Relations and Digital Marketing Agency appointed by V-MORE Merchants met to scope out the potential journey for V-MORE Merchants into Vietnam.

Working closely, the trio identified that there was a need for market awareness among both merchants and consumers. These included customising payment options and enhancing an existing rewards mechanism to consumers. Based on V-MORE’s product offering, merchant Stock Keeping Units (SKUs) and target market analysis, a comprehensive market penetration strategy was subsequently developed.

Foreign market penetration

V-MORE Merchants tapped on the Market Readiness Assistance Grant (MRA) to defray the costs of executing market entry strategies into Vietnam. V-MORE Merchants made their entry into Ho Chi Minh City in July 2019 by executing a PR Campaign. The MRA Grant assists qualifying companies in offsetting up to 70% of the costs of Overseas Market Promotion including but not limited to, Overseas Marketing and PR activities.

V-MORE also leveraged upon a unique in market collaboration with a Vietnamese vending machine service provider, enabling them to launch V-MORE Xpress in conjunction with their market entry. V-MORE Xpress offers both a cash and e-Wallet option to simplify the customer experience in making transactions; enabling users to seamlessly select, purchase and pay for an array of products.

“Sneha’s knowledge in e-commerce complimented our proposal. Providing details and deep insights on the MRA Grant throughout the course of the application process and beyond, contributed to the success of V-MORE’s market entry in Vietnam”, shared Mr Alfred Tan, Vice President of Business Development, V-MORE Merchants Pte Ltd

Sneha said, “V-MORE Merchants has a well charted business plan with focused short and long-term goals. Their approach to market research and in market collaborations have been key strengths in contributing to their successful international brand presence 

We can help your business!

We work closely with SMEs to deepen their capabilities and enable them to scale further.
Meet our Business Advisors today for a free one-to-one consultation!

Book an Appointment