In the past few years, cross-border e-commerce has become a bright spot in the growth of foreign trade exports, and with the release of the "Several Measures to Accelerate the Integrated Development of Domestic and Foreign Trade" issued by the General Office at the end of the year, the value of cross-border e-commerce in promoting economic development and helping the integrated development of domestic and foreign trade has become more prominent.
In 2023, cross-border enterprises represented by TikTok Shop, Shein, Temu and AliExpress (AliExpress) began to enter people's field of vision more and more, and they continued to attack with their different models and layouts to expand in various markets around the world. Looking forward to 2024, while cross-border e-commerce continues to maintain rapid growth, platforms, brands and sellers will usher in competition in comprehensive capabilities such as professionalism, product power, brand power and innovation power, and need to establish differentiated competitive advantages, pay attention to the creation of brands and added value, improve the service experience such as logistics delivery, do a good job in localized and localized operations while exploring new markets around the world, and pay attention to legal and compliant operations, only in this way can we continue to keep up with the market and enjoy the dividends of cross-border e-commerce development.
Growth, growth, growth
Data show that in the past five years, China's cross-border e-commerce import and export has increased nearly tenfold;The scale of export cross-border e-commerce has increased by more than 27 times in five years. Cross-border e-commerce, as a new form and model of foreign trade with the fastest development speed and continuous driving effect, has injected new impetus into China's export growth.
Xiao Lu, deputy director of the Department of Foreign Affairs of the Ministry of Commerce, said that in 2022, the scale of China's cross-border e-commerce import and export will reach 211 trillion yuan, a year-on-year increase of 98%；From January to September this year, China's cross-border e-commerce import and export reached 17 trillion yuan, a year-on-year increase of 144%。According to Shu Jueting, spokesperson of the Ministry of Commerce, cross-border e-commerce drove the growth rate of import and export of the same goods by more than 1 percentage point in the first three quarters. Reuters believes that China has long been a major exporter of many consumer goods, and judging from the dynamics of its e-commerce market, the latest trend of China's cross-border ** has shaken the world** shopping.
With the increase in the penetration rate of the global e-commerce market, cross-border e-commerce will undoubtedly continue to maintain a rapid growth trend in 2024. U.S. research firm eMarketer expects global e-commerce sales to reach 7At $39 trillion, the penetration rate of e-commerce in the global retail sector will rise to 236%。In addition, due to the different development of the global e-commerce market and infrastructure, there are still many "blue ocean markets" that are ushering in explosive growth, which provides a steady stream of impetus for the sustainable development of cross-border e-commerce.
In the context of industry growth, major platforms have also raised their GMV targets for next year, according to "Late LatePost", TikTok Shop is expected to reach $50 billion next year's target of 250% on the basis of this year's target of 20 billionTemu is likely to exceed $14 billion in GMV this year and set a target of $30 billion for next year. The cross-border fashion retailer SHEIN, according to previous foreign media reports, has a GMV target of $80.6 billion in 2025.