Black Friday has evolved into a truly global event, with Chinese shoppers and businesses actively participating in the shopping frenzy. The rise of cross-border e-commerce has made it easier for consumers and firms from different countries to engage in this annual shopping extravaganza.
According to data from Adobe Analytics, online sales in the United States on Black Friday's first day, November 29, reached a record $10.8 billion. This marks a 10 percent increase compared to last year and more than double the spending recorded in 2017, highlighting the growing popularity of e-commerce as a convenient platform for securing the best deals.
Chinese cross-border e-commerce platforms such as Shein, PDD's Temu, and TikTok Shop have seen significant growth in sales during the seven days leading up to Black Friday compared to the previous year, according to Reuters. These platforms offer a wide range of high-quality, affordable products that are delivered directly to consumers around the world.
The success of these Chinese e-commerce giants is supported by an efficient cross-border e-commerce ecosystem, which includes robust manufacturing hubs, streamlined customs processes, and expanding logistics networks. Cities like Yiwu, known as the \"world's supermarket,\" play a crucial role in this ecosystem by supplying a vast array of products to these platforms.
Wu Tingxuan, marketing director of a sports goods company in Yiwu, shared with Chinese media, \"During the Black Friday season, we have prepared a stock of 300,000 to 400,000 items, and hopefully this major promotion could increase our revenue by 20 percent to 30 percent year on year during the period.\"
China is home to approximately 120,000 cross-border e-commerce export enterprises. In the first three quarters of 2024, the country's total cross-border e-commerce imports and exports grew by 11.5 percent year on year, showcasing the sector's robust expansion.
Reference(s):
Chinese shoppers join Black Friday as e-commerce bridges borders
cgtn.com
