Since last year, the term "brand going overseas" has swept across major industries, and many people laughed that 2023 is"The first year of going to sea"., a sentence"If you don't go to sea, you're out".It inspires Chinese enterprises to overcome obstacles and ride the wind and waves on the road to sea.
In the field of e-commerce, the well-known fashion brand Shein (Shein) continued to rank first in the global shopping APP volume. TikTok Shop was launched, trying to compete with the traditional e-commerce industry. Moerpus has laid out its overseas business, comprehensively built a digital live broadcast base for AI to go overseas, and helped build a new ecology for AI+ brands to go overseas. In the field of 3C, brands such as Anker and Insta360 have attracted attention in the international market.
Sina Finance.
According to an industry research report, nearly one-third of China's local enterprises will enter the market in 2023 and brands will go overseas**. Mysterious Oriental brands from more affordable, more convenient and better quality are quietly guiding the changes in the pattern of international e-commerce. So, the hot engine plans the opportunity for the brand to go overseas in 2024? Among the many challenges and opportunities, what are the points worth paying attention to? In today's fierce competition in the global market, brand going overseas has become one of the development paths pursued by many enterprises. However, it is crucial to choose a suitable track for going to sea. In the process,Focusing on niche vertical needs can be a strategic choice.
Niche vertical demand refers to areas with relatively small market size but stable demand and certain particularities. Looking back at 2023, many of the categories that are popular overseas come from niche tracks.
JD.com.
For example, Catlink, which is committed to providing intelligent and convenient healthy pet life, ranks first in China in its cat litter box category, and has also won the first place as the best seller on Amazon, with an annual revenue of more than 200 million. Shokz used to be a headphone OEM company, but after transforming into the consumer market, it registered its own brand overseas, and at the same time created a small market for bone conduction headphones. After five generations of technological innovation, the ace product Titanium has become Amazon's best-selling flagship as soon as it came out.
JD.com.
Compared with the highly competitive mainstream market, niche vertical demand tends to have higher profit margins and lower market competition pressure. As a result, brands can gain better positioning and market share by focusing on these niche needs.
In the strategic planning of a brand's going global, it is very important to choose the right market and channel. Among them, the emergence of new channels not only provides new market opportunities for brands, but also brings considerable new increments. Therefore, brands should fully consider the potential of new channels and include them in the selection of overseas tracks.
For Chinese brands, when the domestic market reaches the growth threshold and the GMV indicator hesitates, it will get rid of the meaningless involutionChoosing a new channel is the only way to inject new momentum into your brand.
Internet.
Starting from 2023, more and more cross-border sellers will deploy multiple platforms, and e-commerce platforms led by the cross-border "four tigers" Temu, TikTok Shop, SHEIN, and AliExpress have become important sales channels. Among them, TikTok e-commerce is growing rapidly. According to eMarketer data, TikTok has a market penetration rate in the United Kingdom, the United States, Indonesia, Brazil and other marketsMore than 40%. It is expected to continue to expand in Europe and South America in 2024, including Spain, Germany, France, Australia, Israel, etc.
Investment**.
New channels often represent entirely new markets and audiences, so the potential for new growth is huge. Brands can achieve rapid business growth and market share expansion by opening up new channels.
In new channels, brands may face relatively little competition, which is conducive to building their competitive advantage and brand position. By quickly capturing new channels, brands can stand out in a competitive global marketplace. At the same time, choosing a diversified channel layout can effectively diversify market risks and reduce dependence on a single channel. In the uncertain and volatile nature of the global market, this is essential for the sound growth of the brand.
When it comes to brands going global, there seems to be a common point of view, as a market with a population of 600 million, 65% of which are young people, Southeast Asia seems to be vibrant, especially suitable for doing business. According to data from Bain & Company, it is expected that by 2030, there will be about 25 million new middle- and high-income consumers in Southeast Asia, and this group is bound to become the object of brand competition.
Ebang Power.
Of course, for the "survivors" who have just come out of the aftermath of the epidemic, Southeast Asia has just experienced the turmoil of the international money refund wave, and the more challenging thing is that the ideological impact is relatively large, that is, the need to re-understand this market. After all, the Southeast Asian market is relatively fragmented, and it is difficult to start with a single market and make money, so it is necessary to look at Southeast Asia as a whole and embrace the whole Southeast Asia.
But a debatable point here is that there are Buddhist countries and militarized countries in Southeast Asia, and each country's cultural habits and consumption intentions are different.
On the journey of the brand going overseas, localized marketing is a booster of success. Understanding the local culture, habits and market demand, making the brand closer to local consumers, and winning their trust and love are the keys and difficulties in making a business card go global.
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In the past overseas process, cross-border sellers are not familiar with local culture, customs and laws, whether it is advertising or product sales, and they are easy to fall into the embarrassing situation of having nowhere to talk about it.
In the journey of brands going global, the role of AI is becoming more and more critical. On February 16th, OpenAI launched the subversive Wensheng ** model SORA, which provides a new perspective for product promotion and production, product speed** release, chatbot chat GPT is currently serving cross-border sellers' email writing and after-sales service, according to Hugo cross-border survey data, up to 72% of cross-border sellers in 2023 have adopted AI tools for operational assistance, AI technology can not only help brands better understand the target market, but also provide personalized marketing solutionsto help brands succeed in the global marketplace.
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The role of AI in brand going overseas has the following aspects:
Data analysis: AI can help brands quickly and accurately analyze massive amounts of market data and discover potential market opportunities and trends. Through deep learning and data mining technology, brands can better understand the needs and competitive landscape of their target markets, and provide strong support for the formulation of overseas strategies.
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Intelligent marketing: AI can provide personalized marketing content and promotion plans based on users' behaviors and preferences, thereby improving marketing effectiveness and user engagement. Through intelligent algorithms and machine learning models, brands can achieve precision marketing, effectively attract and retain target audiences, and promote brand awareness and sales in overseas markets.
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Cross-cultural communication: AI plays an important role in language translation and cross-cultural communication. Brands can use AI technology to achieve multilingual content translation and cultural adaptation, so that brand communication is closer to the habits and cultural characteristics of local users, and enhance the brand's recognition and influence in overseas markets.
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Intelligent customer service: AI can help brands achieve 24-hour** intelligent customer service and provide overseas users with an instant and personalized service experience. Through intelligent speech recognition and natural language processing technology, brands can automate customer communication and problem solving, increasing user satisfaction and loyalty.
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In recent years, Chinese merchants have been the biggest influence on the Southeast Asian market, and the domestic cross-border industry has gone through many periods of capital, infrastructure, products and brand output, and is now deeply embedded in this potential market.
Especially in new consumer goods categories such as tea, trendy toys, smart pet products, and smart small household appliances. As a leader in the domestic tea industry, Mixue Bingcheng has opened stores in the streets and alleys of Indonesia, with more than 4,000 overseas stores so far, and the number of stores increased by nearly 3,000 last year. The top fashion toys Bubble Mart has also set up in Malaysia and Thailand, and the expansion map of Southeast Asia is slowly being carried out.
In 2024, on the journey to the global market, Chinese companies will have the opportunity to grow into world-class brands if they can maintain their vigor and determination in this uncharted sea.
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moerpusMapps.
Relying on its senior full-platform e-commerce background, M&P has been deeply engaged in five major overseas businesses, including "brand overseas marketing full case service", "TikTok short ** operation service", "cross-border store advertising agency service", "overseas talent building joint marketing service" and "AIGC digital human overseas live broadcast service", and through its own e-commerce and AI advantages, it empowers global customers to lock in consumer groups in the new retail wave of digital e-commerce, drive new business increments, and help brands and small and medium-sized enterprises grow rapidly.