“Embrace the Trillion Yuan Cross-border E-commerce Market”
Following the growth of mid and high-income households in China, the incremental purchase power has grown as well. China’s per capita GDP is close to 10,000 US dollars, and the consumption structure is similar to that of the US in the 1970s, shifting from mass consumption to brand consumption.
In the first half of 2019, cross-border e-commerce imports uk phone number database increased by 24.3% year-on-year. It is expected to break 100 billion by the end of the year.
What is also important is that there has been an increase of trading limit- 2,000 CNY to 5,000 CNY per transaction, and from 20,000 to 26,000 CNY per year.
The cross-border e-commerce policy dividends also include the increase in the scope of goods and the increase in the number of cross-border e-commerce retail import pilot cities.
Tmall Global is China’s largest cross-border platform, including 22,000+ international brands, 4,300+ product categories, 78 countries and regions, and 55% import consumption comes from the generation born after 1990.
Cosmetics, mother and baby care, healthcare and apparel counts for 80% of Tmall Global sales. Another important category that has grown in recent years is digital content.