If Asia dominates the eCommerce market, China is its absolute ruler. Between Asia and the Pacific, online sales spending is expected to reach $3 trillion by the end of 2021. Today, 52% of the world market is represented by China. The cross-border eCommerce channel, in particular, is very promising thanks to trade-friendly policies and the growing demand among Chinese consumers for international goods.
Although currently cross-border eCommerce accounts for only 2.2% of the total online retail market, it is growing rapidly. Cross-border eCommerce is an easy and popular way for Chinese consumers to buy products from around the world that they would not otherwise have access to. Safety, quality and design are the characteristics that Chinese people look for in cross-border eCommerce, according to a survey by the Chinese Ministry of Commerce cited in the report. On the other hand, foreign sellers face problems with high barriers to entry, lengthy product registrations and setup fees.
We want to share with you everything you need to know before entering the great e-commerce giant in the Asian market, download the guide and learn more.