Amazon fills Chinese eCommerce niche
Amazon is muscling out Chinese eCommerce rivals in the race to capture cross-border sales from domestic Chinese vendors.
A new survey of more than 900 Chinese eCommerce sellers by US-based B2B online payments company Payoneer, found that 62 per cent of respondents sold goods on Amazon, compared to 45 per cent on Wish and 40 per cent on the Alibaba-backed Aliexpress.
Payoneer says the long-standing stigma of “made in China” has quickly changed to “branded in China,” and global online marketplaces are offering more and more opportunities for China-based sellers.
Respondents reported electronics and accessories are the leading products sold on cross-border eCommerce marketplaces, followed by clothing accessories and home goods.
About half of the respondents in the survey said growing numbers of Chinese vendors and local competition were the biggest challenges to selling online.
China’s National Bureau of Statistics data shows Chinese retail websites sold US$589.61 billion worth of goods in 2015, up 33.3 per cent from the previous year.