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Young entrepreneurs cash in on cross-border e-commerce boom(2)

02-16 10:00

本文主要阐述了“Young entrepreneurs cash in on cross-border e-commerce boom(2)”,导读:Driving forceZhang Zhouping, a senior business-to-business and cross-border activities analyst at the Internet Economy I...本文由​浙江文化对外传播话语资源网最后更新于2024-02-16 10:00,全文共3032个字,预计阅读时长10分6秒,阅读人次73次。

Driving force

Zhang Zhouping, a senior business-to-business and cross-border activities analyst at the Internet Economy Institute, a domestic consultancy, said, "China's cross-border e-commerce sector witnessed rapid growth during the pandemic to become an important driving force bolstering development of the nation's foreign trade."

Cross-border e-commerce is also playing a vital role in encouraging traditional foreign trade enterprises to build new brands and open up more overseas markets, Zhang added.

Competition among cross-border e-commerce companies will focus on supply chain construction, he said, adding, "The core competitiveness of Temu and Shein lies in products with competitive prices and fast delivery, which are highly dependent on the establishment of the supply chain."

However, experts have raised concerns about sustainability of the low-price strategy adopted by these platforms to attract bargain hunters, saying it may squeeze the profit margins of small companies.

In view of the increasingly intensified competition among emerging Chinese cross-border e-commerce platforms targeting price-sensitive consumers, US tech company Amazon said it would sharply reduce fees for merchants selling clothing priced below $20.

From this month, Amazon reduced seller fees on clothing products priced below $15 to 5 percent, while the rates on clothing priced from $15 to $20 dropped to 10 percent. The fees for both categories had previously been 17 percent.

Cindy Tai, vice-president of Amazon and head of Amazon Global Selling Asia, said that this year the company will step up efforts to help Chinese merchants build brands, simplify global operations, and optimize global supply chain services. It will also support these merchants to expand their presence globally and increase localization input.

Last month, the company said it would launch its first innovation center in Shenzhen, Guangdong. The center is expected to accelerate innovation among sellers for new product introduction, brand building, digital operations, green development, and new business models.

Data from Amazon show that the number of Chinese sellers with sales exceeding $1 million on the online retailer's global sites rose by more than 25 percent year-on-year from October 2022 to September. The number of such sellers with sales of more than $10 million rose by nearly 30 percent year-on-year.

Moreover, the quantity of merchandise sold by Chinese sellers to consumers and corporate buyers through Amazon's global sites rose by more than 20 percent year-on-year during this period.

Zhang Jianping, head of the center for regional economic cooperation at the Chinese Academy of International Trade and Economic Cooperation, said, "Cross-border e-commerce platforms connect some key links covering procurement, sales and logistics, to provide a new way for micro, small and medium-sized Chinese enterprises to expand their footprint abroad and create unprecedented new development opportunities."

These platforms are crucial in helping brands and manufacturers better grasp customer needs and quickly adjust product strategy and brand positioning, he added.

Cui Lili, director of Shanghai University of Finance and Economics' Institute of E-commerce, said Chinese enterprises should make full use of cross-border online platforms to meet demand from overseas markets promptly, learn more about laws, regulations and quality standards in other countries, and adjust supply chains to make products that meet local requirements.


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