Moving towards the new normal, how does cross-border clothing e-commerce transform?
According to China Customs statistics, in 2020, the import and export list through the customs cross-border e-commerce management platform reached 2.45 billion, a year-on-year increase of 63.3%. 4 times that of 2017, which was less negatively affected by the international macro-environment. In terms of amount, China’s cross-bordere-commerce imports and exports increased by 31.1% year-on-year in 2020, of which the export growth rate was 40.1%, much higher thanImport.
The good situation of cross-border e-commerce benefits from the support of enterprises and domestic policy resources, and is also inseparable from the mature supply chain, manufacturing andtalents accumulated by the industry in its long-term development. Advantages. Domestic cross-border e-commerce has not only accumulated strong products, but is also actively exploring how to use new technologies and new channels to better meet consumer needs. With the guidance of their predecessors, more and more e-commerce companies are embracing the dream of becoming a globally popular consumer brand and are working hard to achieve it.
At the same time, the market environment is also sending similar signals to all e-commerce companies – the market environment is becoming more and more mature, and companies need to find sustainable development models. In 2019, the global cross-border online shopping penetration rate reached 51.2%. After 2020, catalyzed by the epidemic, changes in consumer groups and shopping psychology have accelerated. The global e-commerce market has accelerated its development and gradually evolved into a “new normal” This also requires that cross-border e-commerce companies may need to adopt new methods to maintain their sustainable development and gain longer-term vitality.
1. Brand building: a new turning point for cross-border e-commerce
Under the influence of the epidemic, a large number of global consumers’ shopping behaviors have shifted from offline to online. This not only brings excellent development opportunities for cross-border e-commerce, but also profoundly changes the way cross-border e-commerce operates. competitive landscape. Although user growth seems to have become easier, how to retain users has further exposed the shortcomings of traditional distribution and traffic monetization business models. If the growth of brand sales is centered on traffic and products, communication and connection with consumers will be ignored. In turn, for consumers, contact with the brand will be limited to purchasing behavior, and will not leave a deep shopping impression and experience. As a result, it is difficult for brands to achieve user retention, which further means that it is difficult to achieve sustained growth. When industry dividends gradually recede and competition shifts from incremental to existing, if they want to achieve long-term sustainable development, how to drive growth from users and build brands to attract consumers has become a top priority for cross-border e-commerce companies. .
The purpose of building a brand is to build the ability to develop markets, occupy markets, and obtain profits. Only by relying on strong brand influence can we build obvious loyalty among consumer groups. It determines the customer’s preference for the brand, and more importantly, it determines the degree of customer attention and trust in the brand. Only in this way can we avoid ourselves falling into repeated price competition, avoid business risks, and at the same time enjoy the value brought by the brand. On the other hand, as users’ own experience in cross-border online shopping increases, users’ recognition of brands is also constantly improving. Cross-border e-commerce has ushered in a critical turning point for brand-based development.
In order to jointly build a sustainable brand development model with cross-border e-commerce, Google and Deloitte jointly released the “2021 China Cross-border E-commerce Development Report” (hereinafter referred to as the “Report”).
This article will analyze consumer groups and tracks, hoping to provide some thoughts on the direction of sustainable brand building for cross-border e-commerce under the new normal.
2. Consumers: In-depth online shopping and brand awareness
Changes in the current business environment and shopping patterns will have a greater impact on e-commerce consumers and tracks in 2020. On the one hand, the main consumers of e-commerce have gradually matured in their understanding of brands and are willing to recognize the value of the brand; on the other hand, although the categories of e-commerce have not changed much, they still focus on clothing fashion, home gardening, and 3C products. and beauty products are the main tracks, but in some segments of the track, there is more room for brand development, and the unit price per customer has increased.
In 2020, the epidemic not only brought about “social distance”, but also brought about a periodic “lockdown” in some economically developed countries due to epidemic prevention, and consumers’ living conditions have undergone tremendous changes. In order to understand the changes in shopping behavior and mentality of online shopping consumers, researchers of the “2021 China Cross-border E-commerce Development Report” based on the mature cross-border e-commerce markets represented by the United States, Britain, Germany, France and Spain, A survey questionnaire was distributed to online consumers who had made purchases through independent e-commerce channels in the past 12 months, and a total of 5,005 questionnaires were collected.
2019-2020 Three Consumer Age Distributions, Income, and Purchase Categories
(Information source: “2021 China Cross-border E-commerce Development Report”)
From the questionnaire survey results, we can see the changes in consumer lifestyles and the impact on the growth of cross-border e-commerce retail.Border e-commerce has brought unprecedented development space, and brand official websites have ushered in a new round of development opportunities. In addition to gaining the favor of consumers in terms of product functional performance, how to build brand awareness through effective channels, continuously optimize the operation of the brand’s official website to enhance consumer trust, and ultimately achieve conversion and repurchase is also in the pursuit of long-term sustainable development. An undeniable important part.
While consumer behavior is changing, the competitive landscape of the global retail market is also changing rapidly. In the four major opportunity tracks of clothing and fashion, home and gardening, 3C products and beauty and personal care, we will continue to pay attention to unit customer price and segmented tracks as factors for brand development. DTC brands have broad development space in the apparel and fashion categories. In the home and gardening track, DTC brands in certain vertical categories are growing rapidly, and the future is promising. The overall 3C market is experiencing strong growth and relatively low competition, providing more opportunities for brands. DTC brands have also shown strong competitive potential in the beauty and personal care category, with many brands breaking through the core price range of US$50.
Summary
Cross-border is not a “new life” for the clothing industry. SHIEN was born, with a valuation of more than 10 billion U.S. dollars, and is known as the pioneer of Chinese clothing exports; swimwear cross-border CUPSHE has exported to Europe and the United States, with an investment amount of over 100 million yuan; Semir Apparel has established a cross-border e-commerce project for 4 years Over the years… cross-border clothing has become a new focus on the new overseas market.
In recent years, from global free trade zones to cross-border support policies across the country, cross-border e-commerce has been pushed into a stage of rapid growth. According to data from some regions, the categories of clothing, shoes, hats, and knitted textiles have occupied the first place in cross-border exports.
In the world of martial arts, only speed is unbeatable. Whether it is SHEIN’s tens of billions of valuations or cross-border blue ocean opportunities, they are all inseparable from the support of China’s strong textile and apparel and mobile Internet supply chains! China’s textile and apparel industry chain is the most complete among the world’s textile exporting countries. The upstream fiber, midstream fabric accessories and downstream apparel industries all have cluster layouts. In the future, the high stability of China’s supply chain will also be increasingly valued by global brand customers.
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