What is Gearbest? Gearbest Review

status quo

Gearbest is currently the largest self-operated e-commerce comprehensive channel for China's cross-border exports. It ranks among the top 30 e-commerce websites in the world in terms of traffic, and ranks among the top five e-commerce websites in many developed countries overseas.

introduce

Gearbest works closely with more than 5,000 well-known Chinese brands and top suppliers, including more than 1,000 top brands such as Xiaomi, Lenovo, Huawei, etc. Gearbest has more than 1 million SKUs online, with more than 1,000 new arrivals every day, providing users with rich shopping choices.

Business Strategy

In terms of business strategy, Gearbest mainly focuses on emerging markets with small languages, thereby avoiding the advantageous market areas of other e-commerce giants and gaining location advantages in emerging markets. Market regional differences have become one of the keys to the differentiated development of comprehensive e-commerce platforms with rich categories such as Gearbest.

User Profile

Male users account for 80%, most of whom are geek-type quality users. The highest search volume is for mobile phones, electric vehicles, and sweepers, etc.

Consumers aged 18-45 account for 79.6%, among which those aged 25-34 (accounting for 37.99%) are Gearbest's key consumer group.

Number of users

In 2017, Gearbest had 31.95 million registered users and 45.33 million monthly active users.

Revenue

The 2018 financial report shows that Gearbest achieved total operating revenue of 21.626 billion yuan last year, up 54.28% from the same period last year.

Settlement Policy

Notice for Settlement

Sellers must ensure the authenticity of the relevant qualifications and information provided during the application and subsequent stages, including but not limited to the company's business license, registration certificate, authorization letter, etc. Once it is discovered that the qualifications or information you provided are false, Gearbest will no longer cooperate with you.

Entry requirements

1. Seller qualification requirements

1.1. The applicant must hold a business license that has completed the most recent annual inspection, and its business scope must be in the consumer goods field, and its business activities must not exceed the business scope specified in its business license;

1.2. Have good corporate business reputation, and the company, its legal persons/directors have no unresolved major disputes, lawsuits, arbitrations or bad credit records.

2. Product certification requirements

Restrictions on entry

1. Gearbest does not accept individual applications for entry;

2. Gearbest restricts applications from the same entity with multiple identities.

other

Gearbest has not authorized any organization to provide settlement services. The settlement application process and related qualification requirements are subject to the Gearbest rules page.

Brand Upgrade

Since March 2019, Gearbest has been "refreshed" on its website and APP, and has appeared with a brand new image. The fully upgraded brand VI of Gearbest is refreshing. The new brand image conveys a lively and warm sense of technology, and advocates the brand positioning of "high-quality products, high prices, and good shopping".

The upgraded brand logo uses yellow and black as the main colors, and uses the letter G as the prototype to present a "smiley face" to convey a sense of happiness in shopping. It has been comprehensively improved in terms of vitality, affinity, cheerfulness, quality and high recognition, conveying a new brand value.

Shell Growth Plan

In 2020, Gearbest, a subsidiary of Global Easy Shopping, launched a policy of waiving annual fees for all categories in 2020, and also launched a "Breaking Shell Growth Plan" for new sellers. From May 25, 2020 to August 31, 2020, sellers who newly join the Gearbest platform can enjoy the benefits of waiving annual fees in 2020, and can also join the "Breaking Shell Growth Plan" to obtain order secrets, learn how to play the platform under the training of the "shop assistant", and reward corresponding traffic exposure resources after learning the course. The first batch of sellers in categories such as optoelectronics, RC toys, home furnishings, clothing, home appliances, and beauty products recruited by Gearbest's open platform have entered the "Breaking Shell Growth Plan".

Awards

On February 6, 2018, the Think with Google annual summit was held in Beijing, where Google and WPP Group announced the ranking of the "BrandZ™ Top 50 Chinese Global Brands in 2018". Global Easybuy has two cross-border e-commerce brands, gearbest and Zaful, both on the list.

Disclosure of user privacy

In March 2019, Gearbest leaked personal information and shopping orders of millions of users. Security researcher Noam Rotem discovered that an Elasticsearch server leaked millions of records every week, including customer information, order content, and payment records. The server was not password-protected, allowing anyone to search the data.

Development History

In March 2014, Gearbest was established and set sail with the support of its parent company Global Easybuy's powerful overseas warehouses and supplier resources.

In August 2015, the international logistics system was optimized. In October, the monthly GMV exceeded 10 million US dollars.

In January 2016, the mobile APP was launched and mobile operations began.

In February, the company opened its own dedicated logistics line to Europe.

In March, the local warehouse in Spain was officially launched.

In May, the first national Russian site was launched, marking the company's full entry into the minority language market.

In 2017, the company celebrated its tenth anniversary and its turnover exceeded 10 billion.

In 2017, Gearbest used second-level domain names to launch seven websites in small languages. The logistics, warehousing and payment of these websites are highly integrated with local resources, and are very localized in terms of product selection and pricing.

In February 2018, Google released the top 50 Chinese overseas brands, and Gearbest ranked 22nd.

In May, it appeared at the Facebook F8 Global Developers Conference as one of the first e-commerce cooperation platforms in the world.

In August, national sites such as Greece and Hungary were launched one after another, and efforts were made to enter emerging markets such as Latin America, North Africa, and Eastern Europe.

In March 2019, the third-party seller platform was opened; overseas warehouses were established in many overseas countries including the United States, the United Kingdom, France, Australia, the United Kingdom, and Germany.

In 2020, Gearbest.com Alexa global ranking: 761,

References

• 1. Gearbest leaked millions of consumer records, some orders also included passport numbers: Sina Technology [cited on 2019-03-11T16:00:00.000Z]
• 2. Gearbest sellers’ qualification requirements for opening a store: Baijiahao [reference date 2020-06-17T16:00:00.000Z]