Driven by the COVID-19 pandemic, the digital transformation of international trade has been taking off. The latest report by iResearch indicates the market size of China’s B2B cross-border e-Commerce was expected to have reached over RMB 3.2 trillion in 2020, showing a year-to-year increase of 24%.
Mature markets, such as North America and Europe, are still the primary markets for China’s cross-border e-Commerce trade. Yet e-Commerce markets in other regions, such as Southeast Asia, Latin America, and the Middle East, are experiencing fast growth with significant potential.
As the leading B2B cross-border e-Commerce marketplace in China, DHgate saw strong demand for Chinese products from international markets and experienced significant momentum in 2020. The compound annual growth rate was over 60%, outperforming the industry’s average.
In recent years, DHgate has been transformed into a one-stop B2B cross-border e-Commerce ecosystem from an online trading platform, with the deep integration of services, resources, and technology.
When the global supply chain faced unexpected challenges in 2020 due to the pandemic, DHgate took quick and efficient measures to respond to the crisis, including expanding product selections, deploying local warehouse services, and adopting financial solutions to support sellers and buyers. DHgate also launched MyyShop, a new Software-as-a-Service product for decentralized cross-border e-Commerce, helping global micro, small and medium enterprises (MSMEs) with easy access to products and helping monetize their multiple private domain channels.
SUMTOP, a seller of cycling products, has benefited from its cooperation with DHgate. To better protect public health from COVID-19, many European countries issued favorable policies on promoting private transportation, resulting in great demand for electric bicycles, scooters, and similar products in those markets. Riding on these opportunities, and with DHgate’s warehouse in European countries and strong capabilities on analyzing consumer behaviors, SUMTOP’s cycling products recorded booming sales, increasing over 100%, while reducing warehouse operating costs by 20% in 2020.
Diane Wang, founder and chairperson of DHgate, said, “Cross-border e-Commerce plays a more and more important role in China’s foreign trade business. China’s strong supply chain capabilities, new policy support, rich experience in the e-Commerce market, and emerging technologies such as big data and IOT, are the key factors to the fast growth of cross-border e-Commerce.”
The iResearch report on future trends for the B2B cross-border e-Commerce market stated that traditional offline businesses are doomed to go digital. Only the e-Commerce platforms with rich resources in international logistics, strong operational capabilities, and integrated supply chain capabilities can help them realize the transformation.
Leveraging its vast experience in B2B e-Commerce, logistics, and financial solutions, DHgate will continue to focus on empowering sellers and buyers and helping them achieve success in 2021.
Founded in 2004, DHgate has become the leading B2B cross-border e-commerce marketplace in China. Through our global operations and offices, including in the U.S. and UK, we reach millions of people with trusted products and services. As of June 30, 2020, DHgate served more than 31 million registered buyers from over 220 countries and regions by connecting them to over 2.2 million suppliers in China and other countries, with over 32 million products. For more information, please visit dhgate.com and follow @DHgate.com.