Recently, a number of Internet and e-commerce giants have been in the competition for the global cross-border e-commerce market, and there are signs that 2023 will be a key node for a full-scale war in the year.
Photon Planet recently exclusively learned that Tencent secretly established a GS** chain company in Guangzhou last year, trying to solve the business needs of overseas markets by building its own warehouse. However, the data shows that the voluntary turnover rate of GS's employees has soared recently, reaching more than 80%, and the operating situation is worrying. Industry analysts believe that this is related to the fact that GS's business development is not as expected and cannot support rapid expansion.
At the same time, Temu, a cross-border e-commerce platform owned by Pinduoduo, recently re-sued its competitor SHEIN, accusing it of using anti-competitive means to suppress competitors by signing exclusive agreements with ** merchants. Both Temu and Shein have chosen the "full custody" model and invested heavily in the construction of the first-chain system. The competition between the two companies for upstream chain resources has become fierce, and some industry insiders are likely to have a comprehensive competition between Pinduoduo and SHEIN on a global scale in 2023.
Industry insiders pointed out that these Internet and e-commerce giants have deployed global cross-border e-commerce in order to find new blue ocean markets for business growth. In recent years, the growth rate of China's domestic market has slowed down, and e-commerce companies are also facing the dilemma of weakening traffic dividends. The scale of global cross-border e-commerce is growing rapidly, and the penetration rate of cross-border e-commerce in the United States is only about 20%, and the future potential is promising.
Taking Temu and Shein as examples, the user scale of both sides has skyrocketed by 160% in the past year, far exceeding the 4% year-on-year growth of traditional e-commerce leader Amazon. In the key U.S. market, Temu and Shein have also reached 41% and 18% user penetration, respectively, more than Amazon's 15%. In the face of such growth potential, cross-border e-commerce has become a field for Internet giants to compete for layout.
It is worth mentioning that in the field of global cross-border e-commerce, Chinese companies are taking the lead. Pinduoduo, Tencent**, and Shein are known as the "Four Tigers of Cross-border E-commerce", and their business models and technical operation capabilities are highly sought after by their global peers. The industry expects that at the key node in 2023, the four tigers will wrestle at multiple levels such as cross-border ** chain, user operation, and social e-commerce. This will also become an opportunity for the integration of the Internet e-commerce industry. Under the survival of the fittest, it is expected that 1-2 super cross-border e-commerce platforms with global competitiveness will be born.
For cross-border e-commerce enterprises, it is particularly important to establish their own supply warehouse logistics system. Taking Tencent ** as an example, its GS project is preparing to build a ** chain with controllable quality and rapid response. However, the fact that the project is not progressing as expected also shows that the threshold in this field is not low. Previously, the in-depth cooperation between Pinduoduo and Cainiao has brought unique advantages to Temu. The industry believes that similar integration will also be an important way for e-commerce companies to cope with the explosive growth of cross-border business.
In the coming year, as the cross-border e-commerce market heats up, the war between the giants will also intensify. Competing for control of the ** chain through channels such as self-built warehouses will become the core competition point. In addition, social streaming and live streaming e-commerce will also become important marketing methods to attract overseas users. "New infrastructure" concept stocks and third-party technology providers such as Yicang ERP may also benefit from the rapid development of cross-border e-commerce.