In the past few years, cross-border e-commerce has become a highlight of the growth of foreign trade exports. The value of cross-border e-commerce in promoting economic development and assisting the integrated development of domestic and foreign trade has become more prominent.

   This is the era of the fastest changing cross-border e-commerce and the best era of cross-border e-commerce development. In 2023, cross-border enterprises represented by TikTok Shop, SHEIN, Temu and AliExpress (AliExpress) will begin to become more and more popular. More and more companies have entered people's field of vision, and they are expanding and advancing in various markets around the world with their own different models and layouts. Looking forward to 2024, while cross-border e-commerce continues to maintain rapid growth, platforms, brands and sellers will face competition in comprehensive capabilities such as professionalism, product power, brand power and innovation. They need to establish differentiated competitive advantages and focus on brand Create added value, improve logistics delivery and other service experiences, develop new markets around the world while doing localized operations, and focus on legal and compliant operations. Only in this way can we continue to keep up with the market and enjoy the development of cross-border e-commerce. dividend.

•          Growth, Growth, Growth

  Statistics show that cross-border e-commerce imports and exports have increased nearly tenfold in recent years; 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 foreign trade format and model with the fastest development speed and continuously prominent driving role, has injected new impetus into the export growth of various countries.

   Reuters believes that as the penetration rate of the global e-commerce market increases, cross-border e-commerce will undoubtedly continue to maintain rapid growth in 2024. American research company eMarketer predicts that global e-commerce sales are expected to reach US$7.39 trillion by 2025, and the penetration rate of e-commerce in the global retail sector will increase to 23.6%. Driven by advantages such as convenience, efficiency, and cost-effectiveness, consumers continue to shift online. In addition, due to the different development of global e-commerce markets and infrastructure, there are still many "blue ocean markets" that are experiencing explosive growth. All provide 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 LatePost, TikTok Shop expects next year’s target to increase by 250% to US$50 billion based on this year’s target of 20 billion; Temu may this year It will achieve more than US$14 billion in GMV and set a target of US$30 billion next year. As for cross-border fashion retailer SHEIN, according to previous foreign media reports, its GMV target in 2025 is US$80.6 billion.

•         Avoid homogeneity and establish differentiated competitive advantages
  
  

    As more and more platforms, brands and sellers join the cross-border e-commerce track, both platforms, brands and sellers will pay more attention to thinking about how to avoid homogeneity and establish differentiated competitive advantages in the future. With the expansion of the markets of all parties, we can also see that the different characteristics and advantages of each enterprise have been reflected.

    Whether it is a platform, a brand, or a seller, as the cross-border track continues to see an influx of more players, in order to avoid low prices and homogenization, in 2024 and beyond, professionalism and products will all In order to compete in comprehensive capabilities such as power, brand power and innovation, it is necessary to establish differentiated competitive advantages and pay more attention to improving the added value of products and brands through product innovation in order to enhance their differentiated competitive advantages.

    Each seller and brand chooses a suitable cooperation model based on their own strengths. With the benefits of overseas expansion, sellers and brands that focus on and give full play to their own advantages and characteristics can find their own place in the increasingly crowded track. In the fierce market competition win.

•         While exploring new markets globally, we also conduct refined local operations.
  
  

    Whether from the perspective of risk diversification or the faster growth of emerging markets, major cross-border e-commerce platforms, brands and sellers will accelerate global expansion in 2024 and vigorously explore emerging markets. Data shows that in addition to the European and American markets, the four major regions of Southeast Asia, Latin America, the Middle East, and Africa have shown many positive signals. The average e-commerce growth rate has reached 20%, the per capita GDP growth rate has exceeded the global level, and the incremental market characteristics are obvious.

    Take the Latin American market as an example. According to the "2023 Latin American E-Commerce Forecast" report released by Insider Intelligence, e-commerce sales in Latin America will increase by 14.3% in 2023 compared with last year, and are expected to exceed the US$200 billion mark in 2026. . In the next three years, annual e-commerce sales in Latin America are expected to continue to grow at a double-digit rate.

    Expanding market layout brings more market growth opportunities, and the differences in users, culture and even customs in various markets also bring challenges. As the scale of cross-border e-commerce rapidly expands, the industry gradually requires each platform, brand and seller to further improve localization and refined operation capabilities, which also puts forward higher requirements for the localization of user services, warehousing, and logistics.

    While any company is expanding into the global market, it is also accelerating more refined local operations. This is a major trend in the development of globalization.

    This is the best era for cross-border e-commerce. E-commerce platforms, fashion brands and platforms, low-price department store e-commerce and various types of merchants are flourishing and have their own place. Of course, any rapidly growing industry must be accompanied by tremendous changes. Today, cross-border e-commerce has gone through the previous era of extensive development and entered a stage of higher-quality development.