E-commerce retailers Tiki.vn and Fahasa.com signed a strategic cooperation on the afternoon of July 1, 2019.
Following the partnership, the book publishing company Fahasa will open the store on Tiki’s e-commerce platform. Fahasa is a senior and reputable company in the Vietnamese book industry that has been equitized since 2006, operating over 100 bookstores nationwide and e-commerce site Fahasa.com.
Pham Nam Thang, Director of Fahasa.com, said that Fahasa’s e-commerce site accounted for 25% of the company’s book revenue and about 10% in all Fahasa businesses, including stationery, Children’s books and toys.
According to Mr. Tran Ngoc Thai Son, President of Tiki.vn, the cooperation with Fahasa.com aims to exploit the available strengths of both sides. Tiki.vn relies on the ability to organize logistics on an e-commerce platform and its strengths in distribution, as well as the ability to understand the market and readers’ behavior thanks to owning a customer database. While Fahasa.com has the advantage of diverse and high quality goods.
Mr. Thai Son said that understanding readers’ behaviors and interests based on Tiki’s database will help new books have more opportunities to appear in Vietnam market. “Currently, Vietnam has no statistics to guide readers such as the list of bestsellers and the list of bestselling books. Hopefully when combined with Fahasa, we will have that data soon, ” Mr. Thai Son said.
Meanwhile, Mr. Pham Minh Tuan, Chairman and CEO of Fahasa also confirmed that the two sides are committed to deeper cooperation, not only to increase sales or delivery time. “Resonating the strengths of both parties makes it easier for customers to access higher quality books. Two years later, we will sit back and consider this cooperation and hope the customers will be satisfied, ” Mr. Tuan said.
Facing the current pervasive fake books, the opening of Fahasa.com’s store on Tiki.vn also brings positive signs for limiting the supply of unknown sources. “Tiki will do all its responsibilities as an e-commerce platform to limit the sale of fake and pirated books. Fahasa’s presence right on Tiki is also one of those efforts, ” Ms. Vu Thi Nhat Linh, Director of Tiki trading floor said.
According to data from the Publication Department, the whole book industry in 2018 had nearly 32,000 new books with over 390 million copies, an increase of 20.6% compared to 2017. The average Vietnamese person only reads 1.2 books in a year. , lower than the regional average of 4 volumes per year.
* Source: Forbes Vietnam