What is Newegg? Newegg Review

Basic Situation

Newegg has expanded its business to more than 80 countries around the world. Sellers only need to complete registration on the US site to operate stores around the world. Newegg International Mall provides all-round support for international sellers to conduct cross-border trade, including providing sellers with store opening guidance, regular seller training, and logistics solutions. In addition, in order to help Chinese sellers grow better on Newegg International Mall, Newegg's cross-border store opening project has launched a "new seller training program" and an "elite seller support program" for Chinese sellers.

In terms of logistics, Newegg has built six overseas warehouses including the North American market, with an intelligent logistics warehousing center of over one million square feet and an automatic delivery system to help Chinese sellers quickly expand into the North American market.

In terms of payment, WorldFirst, as a wholly-owned subsidiary of Ant Group, provides cross-border payment services through cooperation with domestic licensed institutions, supporting 40+ popular e-commerce platforms and 30+ payment gateways around the world, and supporting payment in 10 major currencies. WorldFirst's cross-border e-commerce payment rate is capped at 0.3%, and it supports withdrawals to Alipay, with lightning fast arrival.

Overview

Newegg mainly sells 3C products such as computers, consumer electronics, and communications online. It has been selected as the best shopping website by many authoritative media such as Forbes and Computer Shopper.

In the United States, Newegg sells 55,000 kinds of products, making it one of the largest online retailers of IT and digital products in the country.

Sales categories

Currently, Newegg has 75 categories for merchants to choose and sell. Watches, jewelry, home appliances, home furnishings, baby products, travel and daily bags, tool accessories, shoes, toys, sporting goods, outdoor garden decorations, beauty and health care products and other categories can be sold on Newegg.

Entry conditions

1. It must be an enterprise. Individual registration is not allowed. The enterprise business license and public bank account information can be provided for qualification review.

2. Able to provide eBay or Amazon platform links for reference (it cannot be a new store, eBay store feedback must have 5,000 or more; AMAZON store must have 500 ratings or more).

3. It is better to have your own brand or agent brand.

Information provided for entry

In addition to the business license, two other documents are required:

(1) W-8 BEN-E Form (a download link and assistance for filling out will be provided) is used by international sellers to avoid local taxes.

(2) Bank reference letter/voided check issued by the bank (This document will only be required if you choose to pay by bank card. It is not required if you choose a third-party payment method.)

General requirements for entry

1. Newegg strictly controls counterfeit goods and other prohibited goods. Counterfeit goods are not allowed to enter Newegg International Mall.

2. Merchants must upload the logistics tracking number in the system background within 72 hours from the time the order is generated. If the order is not uploaded after 72 hours, it will be automatically invalidated.

3. Newegg will review the merchant’s qualifications and invite them to join, but will not require the merchant to pay a deposit.

4. Currently, Newegg has multiple industry categories for merchants to choose and sell. In addition to the most famous computer accessories and electrical appliances in Newegg International Mall, there are also watches, jewelry, home appliances, home furnishings, baby products, travel and daily bags, tool accessories, shoes, toys, sporting goods, outdoor garden decorations, beauty and health products, auto parts, smart home and other categories, all of which can be sold on Newegg International Mall.

5. Merchants can learn about sales payment status and download relevant reports through the backend management system. Newegg will collect actual orders every two weeks and remit the payment to the merchant's designated account after deducting SBN fees (if SBN service is used) and sales commission based on the account report.

6. Newegg uses an account manager invitation system to invite merchants to join. After joining, each merchant will have a professional account manager to guide registration and provide marketing suggestions. At the same time, Newegg will regularly hold offline customer meetings or online customer training sessions, explaining the Newegg cross-border e-commerce business opportunities, how to quickly register, registration discounts, Newegg merchant performance evaluation system, sales skills sharing, etc.

7. Currently, Newegg has internal API, third-party API, and a method to directly upload batch files to Newegg backend. Sellers can choose according to their own situation.

8. Currently, Newegg has launched the SBN service. The full name of SBN is Shipped by Newegg. Sellers can ship goods to Newegg's warehouse in the United States in advance, and Newegg will help sellers fulfill the delivery and return and exchange services of the order. International sellers can also enjoy free storage fees for the first six months. The SBN service also provides multi-channel delivery (Multi-Channel), which can deliver orders from other platforms such as Amazon and eBay.

course

Newegg.com was founded in 2001 and is headquartered in Los Angeles, Southern California.

In 2001, Newegg entered the Chinese market and established Taiwen Information Technology Co., Ltd. and Shanghai Newegg E-Commerce Co., Ltd.

In May 2003, the company launched the industry-renowned Newegg MTS (Management Trainee) program and began recruiting in mainland China and Taiwan.

In 2004 and 2005, Newegg NESC Shanghai and Chengdu companies were established respectively.

In 2005, Newegg was named the best website in the computer and electronics field by Forbes, and was also named the only "Forbes Favorite Website" in the field.

In June 2006, Newegg won the PriceGrabber.com 10K Gold Award.

In 2008, Newegg Canada branch was completed and put into operation.

In 2009, Newegg's B2B platform was launched.

On May 18, 2009, Newegg was ranked 15th among the top 100 consumer electronics retailers in the United States by "Twice" magazine.

In April 2013, Newegg won the "2013 Online Computer Retailer Brand" award.

On June 11, 2014, Newegg launched its B2B platform Newegg Business Marketplace.

In July 2014, Newegg announced that it would accept Bitcoin as a payment method.

In 2016, Link Interactive acquired a 55.7% stake in Newegg for RMB 1.77 billion.

On September 13, 2018, Lianluo Interactive held a shareholders' meeting and agreed that Newegg would formally prepare for its IPO in the United States, and authorized the Lianluo Interactive board of directors to be responsible for the specific work.

In 2019, after Zou Guoqing, global CEO of Newegg Group, officially took office at Newegg Group’s Los Angeles headquarters, Newegg entered a new stage of strategic adjustment.

In May 2019, Newegg International Mall expanded its market to 29 new countries! Its business covers more than 80 countries and regions around the world!

In June 2019, Newegg was listed among the top e-commerce platforms.

In mid-June 2019, Newegg officially launched its Arabic website.

References

• 1. Newegg.com development history: Newegg.com official website [reference date 2018-03-03T16:00:00.000Z]