Chinese online shoppers are buying from foreign brands more than ever before, says a new cross-border report.
According to eMarketer, cross-border eCommerce sales in China are expected to reach $100.17 billion by the end of 2017.
The average spend of a cross-border Chinese buyer is $882 USD – an increase on eMarketer’s last forecast – thanks to growing awareness and trust in overseas brands, as well as better logistics.
Shelleen Shum, senior forecasting analyst at eMarketer says online shoppers in China are ready to try overseas brands more than ever.
“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… There is an opportunity for foreign brands to tap into the demand for high-quality products, especially in categories like baby, maternity, health and beauty”
The news comes after a huge week for Chinese eCommerce with the success of Singles’ Day on November 11, which featured 60,000 international brands. Of those, the top selling countries to China included Japan, the US, Australia, Germany and South Korea.
China has a huge, rapidly growing and savvy eCommerce consumer base with an appetite for cross-border brands. Retailers looking to expand into the market need to be aware of challenges surrounding security, fraud and mobile optimization - all of which are valued highly by the shopper.