On September 6, 2023, a significant event for the Douyin E-commerce Global Shopping industry unfolded in Shanghai. Themed "Dance Through the Globe, Witnessing New Growth in the Domain," the event drew the participation of key figures together to discuss about New Trend of Cross-border in China, including Wei Wenwen, President of Douyin E-commerce, Lin Tao, Head of Douyin E-commerce Global Shopping, Zhang Yifan, Vice President of Douyin E-commerce and Alliance Business, and Li Junyan, Head of Douyin E-commerce Import Supply Chain and Logistics. Notable representatives from institutions such as Deloitte Technology and Pu Qinglu, the Head Partner of the East China Region in the Technology, Media, and Telecommunications industry, were also in attendance.
Throughout the ceremony, platform guests delved into comprehensive insights on the new opportunities arising in the cross-border e-commerce landscape under the global interest e-commerce model. They unveiled the platform's operational direction and industry strategies. Additionally, representatives from ecological partners shared valuable perspectives on cross-border consumption trends and brand management experiences. The overarching goal was to empower partners in the global shopping industry to comprehend growth trends better and achieve a significant surge in overall growth.
The ceremony offered profound industry insights and development directions, making a substantial contribution to the continued expansion of the Douyin E-commerce Global Shopping industry in the global market.
The Current Situation and New Trends of Cross-border Consumption
In recent years, cross-border e-commerce platforms have developed rapidly, and cross-border consumption potential has been continuously released. Currently, more and more brands are entering the cross-border e-commerce field and actively seeking new business expansion opportunities. According to Deloitte's forecast, Douyin (China TikTok) e-commerce is expected to maintain rapid growth in the next three years. RougeLink believes that China’s cross-border import e-commerce still has broad room for development.
In the Chinese market, Douyin e-commerce global shopping is gradually becoming a key platform for global shopping brands to seek business growth. Here are some important data for readers’ reference:
As of June 2023, Douyin e-commerce’s global average daily e-commerce intention-related searches exceeded 7.88 million times. During the one-year period from July 2022 to June 2023, the number of global purchase orders on Douyin e-commerce increased by 43%, the gross merchandise volume (GMV) increased by 80%, and the number of merchants joining the platform increased by 111% compared with the previous year.[1]
Douyin e-commerce has transformed into a global fun e-commerce stage, with "global content development" and "global product operations" becoming its two major growth engines. "Global Internet" accelerates growth, and "global user operations" and "global experience improvement" drive merchants' flywheels to rotate faster and create growth opportunities.
For users, Douyin e-commerce global shopping is becoming the choice of more consumers due to its global supply of high-quality goods, outstanding overseas experts, massive interest content, and rich shopping scenes.
Building a New Ecology under New Trends
The white paper states that Lin Tao, head of Douyin E-commerce Global Shopping, elaborated on the vision of positioning Douyin E-commerce Global Shopping as the preferred platform for Chinese consumers to contact overseas brands. According to Douyin e-commerce global shopping data, the platform has more than 600 million daily active users. With Douyin's excellent traffic processing capabilities, 170 brands have recognized Douyin e-commerce global shopping as their operation center.
Douyin E-commerce Global Shopping currently has two business models: merchant operation and self-operated channels, aiming to meet the diverse operational needs of various merchants. In order to empower global shopping merchants, Lin Tao announced at the conference the core strategy of Douyin e-commerce global shopping in 2023 - shifting from the introduction of "commodities" to the introduction of "experiences". This requires focusing on new products, new merchandise and premium content, and providing innovative initiatives and tools for global shopping merchants.
In terms of "new products", Douyin E-commerce Global Shopping aims to optimize platform product capabilities from three dimensions: merchant operations, user interaction, and platform management. This method helps merchants complete the entire development chain from pre-sales to after-sales. Continuously improving consumer shopping experience is the focus to provide support for the business growth of platform merchants.
In terms of "new items", Douyin E-commerce Global Shopping will expand its business and optimize the marketing environment. Open recruitment will become a key engine for brands to develop markets and achieve growth, providing successful business cases for a wider range of brands. In the future, Douyin e-commerce global shopping plans to use the platform's open recruitment and global growth flywheel to promote the rapid sales of new products.
In terms of "high-quality content", the platform will focus on supporting high-quality overseas original content. In recent years, live broadcasts with product traceability functions have become popular among consumers. By visiting the origin of overseas goods, this approach provides an immersive shopping experience, allowing consumers to confidently purchase high-quality products directly from the origin.
Join Hands with Ecological Partners to Create More Value
The rapid ascent of Douyin E-commerce Global Shopping not only signifies the novel opportunities ushered in by global interest e-commerce but also mirrors the concerted endeavors of diverse ecological partners.
Within Douyin E-commerce Global Shopping, overseas influencers assume an indispensable role in the ecosystem. According to data unveiled by Zhang Yifan, Vice President of Douyin E-commerce and Alliance Business, in the period from July 2022 to June 2023, influencers on Douyin E-commerce Global Shopping span 42 countries and regions. The viewership for overseas topics has surpassed 120 billion, with the year-on-year growth rate of sales for global shopping by overseas influencers exceeding 230%.
In the domain of cross-border e-commerce, the significance of the supply chain is self-evident, encompassing products, services, and customer relationships. Douyin E-commerce Global Shopping is dedicated to the continual enhancement of its supply chain system to furnish a superior service experience.
As articulated by Li Junyan, Head of Douyin E-commerce Import Supply Chain and Logistics, building upon the existing four key capabilities of warehousing support, customs assistance, logistics distribution, and end-to-end logistics, as well as the three core guarantees of fulfillment, experience, and marketing support, they will further elevate the supply chain infrastructure. This initiative is designed to provide merchants with customized solutions, including bonded warehousing, direct shipping, and other tailored approaches.
As global shopping merchants serving in dual roles as producers and sellers, you present high-quality products from around the world to users. In Douyin E-commerce Global Shopping, the fusion of premium content and goods by merchants creates a distinctive experience, delivering global treasures to users.
RougeLink offers for Chinese market the entire e-commerce and import and export solutions, with integrated capabilities encompassing all aspects of the e-commerce value chain covering e-store operations, digital marketing, customer services, and logistics.