An emerging middle class in China with a high tendency to shop for foreignbrands is helping to drive up outlay on goods bought outside of China, according to eMarketer’s cross-border e-commerce spending forecast.
The guess is in line with Singles Day in China, the main e-commerce shopping event hold by Alibaba that happened last Satuaday, as analysts see the festival adding more and more overseas businesses.
The analysis discloses that the total cross-border ecommerce sales in China are expected to reach
US$100.17 billion by the end of 2017, with the average spend per cross-border digital buyer at US$882.
Average spend per buyer has increased since previous forecast due to the growing awareness of overseas brands in China, as well as better logistics and the perception that foreign goods are of better quality.
Also contributing to the growth is the popularity of Tmall Global, JD Worldwide and Kaola, sites that have made it easier for shoppers to access a wide variety of overseas products on a platform they are familiar with.
“The factors fueling the trend toward greater cross-border shopping are nothing new, as the average Chinese consumer is now more tech savvy, more exposed to foreign brands through overseas travel and the internet and, crucially, more willing to spend,” said Shelleen Shum, senior forecasting analyst.
More than a fifth (23%) of digital buyers in China will make at least one cross-border purchase via the internet, and growth in such purchases will start to slow over the forecast period as more residents choose local brands for some categories such as fashion. Realizing the demand for better-quality goods, local brands are starting to adapt to this change.
The guess is in line with Singles Day in China, the main e-commerce shopping event hold by Alibaba that happened last Satuaday, as analysts see the festival adding more and more overseas businesses.
The analysis discloses that the total cross-border ecommerce sales in China are expected to reach
Average spend per buyer has increased since previous forecast due to the growing awareness of overseas brands in China, as well as better logistics and the perception that foreign goods are of better quality.
Also contributing to the growth is the popularity of Tmall Global, JD Worldwide and Kaola, sites that have made it easier for shoppers to access a wide variety of overseas products on a platform they are familiar with.
“The factors fueling the trend toward greater cross-border shopping are nothing new, as the average Chinese consumer is now more tech savvy, more exposed to foreign brands through overseas travel and the internet and, crucially, more willing to spend,” said Shelleen Shum, senior forecasting analyst.
More than a fifth (23%) of digital buyers in China will make at least one cross-border purchase via the internet, and growth in such purchases will start to slow over the forecast period as more residents choose local brands for some categories such as fashion. Realizing the demand for better-quality goods, local brands are starting to adapt to this change.
