Master 3 new trends of cross-border e-commerce in one article
With the continuous growth of online transactions, cross-border e-commerce is striding towards the climax of the industry. Recently, data shows that nearly one in five consumers (18%) globally have purchased products online that they would have only purchased in-store, involving an amount of US$650 billion.
Wei Jianguo, chairman of the China Economic Exchange Center, said that in the next two years, China’s foreign trade exports will still maintain double-digit growth, and cross-border e-commerce will enter an unprecedented period of rapid development.
The epidemic has repeatedly “catalyzed” the era to generate new demands
Affected by the epidemic in 2020, the shopping habits of overseas consumers are “forced” to shift from offline to online. For example, the penetration rate of online retail in North America in 2020 is the fastest growing year.
On the other hand, due to the impact of the epidemic, the global manufacturing supply chain continues to slump, which is still plaguing the international market. However, due to China’s timely control of the epidemic, the timely resumption of work and production in the domestic supply chain, and the implementation of national incentive policies, cross-border e-commerce has been able to develop rapidly.
Cross-border e-commerce is the product of economic globalization and informatization development to a certain stage. Affected by external factors, the consumer demand of the new middle class tends to be more meticulous in function and spiritual experience. For example, the transition from the “home economy” to the “outdoor economy”, the rise of emerging digital and electronic markets with vast space, and the explosion of demand for virtual experiences in the Metaverse.
Cross-border e-commerce ecosystem is gradually forming
The industrial chain of cross-border e-commerce is becoming more and more abundant, covering products, technology, transactions, payment, logistics, warehousing and other aspects, and gradually forming a three-dimensional ecosystem.
The major mainstream platforms of cross-border e-commerce will also turn to ecological platforms. Practitioners who enter cross-border e-commerce can not only engage in operations, but also engage in various tasks through professional training. Moreover, more and more small and medium-sized sellers have entered, and now they have mastered supply chain integration services, which has formed a tuyere. Therefore, if entrepreneurs want to transform into cross-border professionals in the later stage, it is also competitive to join as soon as possible.
Service localization, overseas warehouse is the trend
In an interview with Guangdong Satellite TV, he said: “Current research has confirmed that the future growth direction of the retail industry is definitely online, and this situation is unlikely to be reversed.” Then with the promotion of the epidemic, consumers will change their attitudes towards online shopping. As they become more confident and familiar, sellers and trading platforms are bound to create the ultimate shopping experience to meet consumer expectations.
The accelerated increase in the number of overseas warehouses further confirms this. Improving logistics speed, reducing costs, higher return and exchange efficiency, and faster information synchronization not only make overseas warehouses popular with sellers, but also show that the last mile service experience is more valued by consumers.
Entering cross-border e-commerce is at the right time
Since the emergence of the cross-border e-commerce industry in 2013, its transaction volume has been increasing at a rate of several times, and the state is also introducing various favorable policies to support cross-border e-commerce, and set up trade free pilot zones to develop cross-border e-commerce. The good news of these policies in the e-commerce bonded zone is showing that cross-border e-commerce is a huge market opportunity.
And Chinese products going overseas, with the help of cross-border e-commerce platforms, are helping us achieve economic growth. These have a huge influence on China’s economic development. Whether the government, enterprises or individual sellers, they are all beneficiaries.
If you can think that cross-border e-commerce is in an upward trend, and you can see the competitiveness of Chinese products, then it is time to actively develop cross-border e-commerce channels and open the door of cross-border e-commerce.