Meet Oizoioi (which literally translates to “Oh my God!” to Northern Vietnamese), a Vietnamese e-commerce aggregator set up by Henry Tran and a German business partner. While the e-commerce scene in Vietnam is banking on the rise of mobile usage to become a trend, there is a problem. Vietnamese customers find it really hard to get an overview of products and its prices.
“We observed that it is really hard for vietnamese customer to get any overview about prices and products […] e-Commerce is developing super fast here. Vietnam needs an aggregator for all those ventures coming. Our big advantage is our data angle […] using machine learning to give the best recommendations to our customers similiar with Amazon,” said the German co-founder.
Oizoioi also added, “Since the mobile internet penetration is one of the highest in SEA, we are also targeting those mobile customers that want to purchase offline and can use our product to easily find the best prices and customer reviews before actually buying.”
The two actually met at a startup event in Vietnam, and the co-founders told e27 that the e-commerce aggregator has an ongoing partnership with Lazada (Rocket Internet). “The plan is to penetrate the [Vietnam] market right now and scale in the next three to six months to be [the] number one player in that [sector]. Our main advantage is that we are the only completely data-driven price comparison website in Vietnam for now and have [an] advanced engine running.”
It is also interesting to note how the e-commerce aggregator site is starting out with electronics. They explained that for most online retailers, most of the revenue they earn comes from electronics, while only a small part is obtained from selling books and fashion items. Oizoioi also added that electronics are generally much easier to compare in terms of specifications and price than clothes.
The next step after getting a good audience base in Vietnam will be to take the Southeast Asia region, starting with the Philippines and then Malaysia, the co-founders stress. “Our product is clearly targeting the mass market in Vietnam. It allows online customers to compare prices and product specifications easily and facilitates the purchase decision.”
Currently, Oizoioi also provide a clear view of the Vietnamese customer landscape for online retailers and merchants, like price tipping points, popular products and what people search for. The website already has more than 7,000 products from a total of eight categories including mobile phones, tablets, computers, cameras, televisions, audio and accessories.
Oizoioi told us about a few partnerships. “Last month we partnered with Lazada, Zalora and Hungry Panda in their Vietnam Online Now marketing campaign to educate Vietnamese customers of e-commerce. It’s an exciting time now for e-commerce in Vietnam, and we are happy to be an active part of it.”
Image Credit: Oizoioi