2024 Cross-border E-commerce Hot Start SHEIN Flexible Manufacturing Helps Sellers’ Product Innovation to Go to Sea
Xinhua Finance Shanghai, February 18 (Reporter Gao Shaohua) On the 18th, the reporter learned from the cross-border e-commerce platform SHEIN that cross-border e-commerce got off to a hot start in 2024, and China sellers seized the New Year business opportunities on the SHEIN platform, and some sellers doubled their sales of explosive products in the first year. The flexible supply of SHEIN accelerated the sellers’ product innovation to go to sea.
In the past year, 1.83 trillion yuan of goods in China were exported to the global market through cross-border e-commerce, an increase of 19.6%, reaching the level of 2.3 times that of five years ago. Entering the new year and spring, the business opportunities of bonus window opened to China sellers in overseas markets continue to be released.
At present, the growth rate of global retail e-commerce is much higher than that of offline retail, and overseas consumers’ shopping has accelerated to online transfer. According to the report of Satista, a global professional research data statistics company, the sales of e-commerce in emerging markets such as India, Brazil, Argentina, Turkey, Mexico, Russia, South Africa and Italy have all increased by more than 10%, and the global retail e-commerce sales will exceed 6 trillion US dollars in 2024.
As online shopping has become fashionable in overseas emerging markets, many people have changed from attending shopping festivals only a few times a year to spending on e-commerce every day or week. According to the latest list released by the authoritative organization PYMNTS, China’s cross-border platform SHEIN has reached the Top1 of the global shopping application ranking list, which is the sixth consecutive month that SHEIN has topped the list. SHEIN’s increasing market coverage and user influence overseas have also brought broad opportunities for domestic cross-border sellers to go to sea in the New Year.
"In January 2024, the company’s overall sales volume was quite good. The sales volume of several styles doubled compared with last year, and several single products rushed to the top of the sales list." Yin Fangfei, the seller of SHEN jewelry, used to supply short-sighted products to online celebrity in China for a long time. Since she settled in SHEN, she has taken the initiative to pay attention to overseas fashion trends and characteristics of explosive products, and referred to the methodology of "flexible production" and "quick response to small orders" that SHEN is good at, and organized the production of her own factory by using the digital background of the seller, which greatly improved the flexibility of the supply chain.
The children’s dress suit designed by Zhang Linlin, a Guangzhou seller, has become an explosion in the European market in late winter and early spring, and many new products have sold hundreds of pieces just after they were put on the shelves. Zhang Linlin is an expert in children’s wear and dresses. She entered the SHEIN platform a year ago. SHEIN faces more than 100 overseas multi-style consumer markets, creating many possibilities for her products to innovate and try. She said: "We can cover different festivals in different countries to do product development and design, not just in the Spring Festival, but almost all the year round after cross-border."
At present, China’s cross-border e-commerce sales network covers more than 220 countries and regions around the world, with more than 2,400 overseas warehouses covering an area of more than 25 million square meters. Third-party service providers such as logistics, payment and express delivery serve hundreds of thousands of customers around the world. All these infrastructures are helpful for China businessmen to go out to sea for gold. At the same time, many local governments have introduced a number of welfare policies to help accelerate the development of cross-border e-commerce industry, and the "one-stop" empowerment system provided by cross-border e-commerce platforms to cross-border e-commerce sellers is also accelerating.
"At first, our estimate of inventory was conservative and we underestimated the rapid sales of SHEIN." A Zhejiang seller who opened a shop on SHEIN said, "Since then, we have improved our inventory control. In order to meet the demand, we specially designed and launched hundreds of new styles for SHEIN." He believes that SHEIN employees have given the factory a lot of guidance on overseas consumption trends, which has brought great help to the company. Only by knowing how to improve the production accuracy and product quality according to the actual needs of the market can sellers continue to win the hearts of consumers.
In some industrial belts where sellers of SHEIN platform gather, SHEIN employees will also provide guidance or support for local sellers in product shooting, and also organize professional training for some local e-commerce photographers.
For consumers, the types of products they buy from the SHEIN platform are also more abundant. Statistics from overseas institutions show that among American fashion online shoppers, nearly 70% are familiar with SHEIN, and nearly one-third of them like this China company established in 2008. Judging from the usage share and social popularity index, SHEIN has won the preference of most American fashion online shopping consumers.
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Editor: Hu Chenxi
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