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In 2023, China's four overseas dragons will soar overseas and shake up the overseas e-commerce landscape; the economic environment remains uncertain, and the complex and changing foreign trade situation has placed higher demands on cross-border companies.
Looking back at 2023, what are the characteristics of the development trend of the cross-border industry? Looking ahead to 2024, how can practitioners seize certain growth?
At the end of the year and the beginning of the next year, we have completed this "2023 Cross-border E-commerce Industry Annual Report" , covering four parts: an overview of the cross-border industry, operations of cross-border sellers, an inventory of annual events, and annual industry trends, in order to help cross-border practitioners review annual dynamics, understand market trends, and find the direction for going overseas in 2024. ▲ Scan the QR code and follow the official account and reply [2023] to receive it for free Review of the top ten industry news Performance summary of overseas sellers Interpretation of the mainstream e-commerce market Analysis of the platform development process
The full report is 51 pages long. The following is the essence: According to Statista data, the global B2C cross-border e-commerce market is worth $785 billion in 2021 and is expected to reach $7.9 trillion by 2030, a nearly tenfold increase. It is predicted that this figure will reach $1.5 trillion in 2023.
By regional segmentation, China's cross-border e-commerce industry has shown great market vitality and growth resilience: according to customs statistics, in 2023, the total import and export volume of China's cross-border e-commerce reached 2.38 trillion yuan, an increase of 15.6%, of which the total export volume reached 1.83 trillion yuan, an increase of 19.6%.
At the same time, in 2023, the growth rate of the European and American e-commerce markets slowed down, but remained stable overall. The development potential of emerging markets such as Southeast Asia and Latin America is being further released: In addition, in 2023, not only will the AIGC wave continue to sweep cross-border e-commerce, but emerging things such as social e-commerce, live shopping, and buy now, pay later will also gradually become the mainstream of the market. In 2023, affected by multiple factors, competition in the cross-border e-commerce industry has become increasingly fierce, and the performance of cross-border practitioners has shown a polarized trend. According to a survey, in 2023, 31.92% of cross-border enterprises will have annual revenues of less than 1 million, while the proportion of enterprises with revenues of more than 100 million will be as high as 26.57%. The increase in operating costs is the main reason for the compression of sellers' profit margins: more than 50% of sellers reported that the main cost pressure is the rising logistics costs and advertising costs. Judging from the performance of major promotions, more than 30% of sellers had the best sales performance on Prime Day , while the sellers with the best sales performance on Black Friday and Cyber Monday accounted for 27.97% and 20.31% respectively, and 18.39% of sellers had the best sales data on the Autumn Membership Day.
Judging from the platform layout , although China's four little dragons have entered the market strongly and shaken up the landscape, becoming a popular layout choice for cross-border sellers, Amazon still firmly holds the largest market share and remains the preferred channel for sellers to go overseas. Judging from the workplace recruitment situation , with the slow recovery of the global economy, the demand for talent in cross-border recruitment is gradually picking up, but the overall salary has not changed much.
Taking cross-border e-commerce operations positions as an example, data from Zhiyouji shows that the market demand for cross-border e-commerce operations positions in 2023 increased by 292% compared with the same period in 2022, but wages and benefits decreased by 1% compared with the same period in 2022, and the decline narrowed. 2023 is a year of change and turmoil. In this year, cross-border practitioners have experienced these cross-border events: In January, due to the severe economic situation, Amazon announced the layoffs of 18,000 employees. Then at the end of March, it announced a new layoff plan, affecting 9,000 employees worldwide. In February, Temu appeared as an advertiser in the Super Bowl, known as the "American Spring Festival Gala". Its downloads and daily active users skyrocketed overnight, even surpassing American retail giants such as Target in early February. In May, Shopify announced that it would lay off 20% of its employees, less than a year after Shopify's first round of layoffs. In August, Amazon US terminated the Small and Light Commodity Program and instead implemented a lower standard FBA rate for all low-priced products priced below $10. A large number of cross-border sellers selling small and light commodities were affected. In October, TikTok Shop announced its closure in Indonesia. During the closure, TikTok Shop was committed to finding a way out through government dialogue, e-commerce cooperation and other means. On December 11, it officially announced the establishment of a strategic partnership with Indonesia's GoTo and returned to the market. ▲ Scan the QR code and follow the official account and reply [2023] to receive it for free In November, the USPTO published an "Order to Show Supplemental Reasons", which listed all U.S. trademarks registered by a Shenzhen intellectual property service provider from January 2014 to January 2023, with a total of more than 53,000 trademarks. A large number of sellers' related trademarks are at risk of removal. In December, the conflict in the Red Sea intensified, and the four major shipping giants Maersk, Hapag-Lloyd, MSC and CMA CGM announced the suspension of Red Sea routes. Subsequently, COSCO, Evergreen, ONE and Orient Overseas Container Line (OOCL) also announced the suspension of bookings on the Red Sea routes and chose to bypass the Cape of Good Hope, driving a short-term surge in freight rates. As an observer of the cross-border e-commerce industry, I have deeply analyzed the annual trends of the cross-border industry in 2023 from three aspects: platform, market, and sellers: In terms of platforms, the four little dragons going overseas are surging overseas, encircling Amazon with full trusteeship. During the Black Friday in 2023, relying on the logic of integrating cost-effective products + differentiated promotion rhythm + perfect service experience, the four little dragons going overseas successfully changed the pattern dominated by overseas platforms such as Amazon and Walmart, and also brought more abundant growth opportunities for cross-border merchants.
In terms of the market, the diversification of platform players and cross-border markets, as well as multi-channel and differentiated layouts have become the mainstream of the industry. On the one hand, with the emergence of a large number of emerging cross-border platforms, new sales opportunities have been created, and more and more merchants are embracing the mainstream of multi-channel layout. On the other hand, thanks to the accelerated layout of e-commerce platforms, more and more cross-border merchants are exploring more emerging markets on the basis of deepening their presence in the European and American battlefields. For sellers, under the impact of variables such as the four little dragons going overseas and the full-hosting model, building differentiated competitive barriers has become the key for cross-border sellers to stand out in the fierce competition; "reducing costs and increasing efficiency" has become the key word for the development of overseas companies, and digital operation upgrades have gradually become the mainstream of the industry. Overall, 2023 is a year of transformation and reconstruction and opportunity recovery. With the strong rise of the four little dragons going overseas, industry competition has intensified and reshuffled, while also differentiating into more diverse development paths. Since 2022, the reporting team has produced multiple industry and market insight reports for sub-sectors such as [cross-border e-commerce industry], [DTC brand going overseas], [Amazon category operation], and [e-commerce market research] , which have attracted great attention and forwarding in the industry and received praise from many cross-border professionals. (For cooperation on the report content, please contact: happy) To view more report contents, please scan the QR code below Reply "Report" to download the full version for free We would like to thank the following partners for their strong support for this report (in no particular order): Seller's Home, DNY123 Southeast Asia Seller Navigation, Seller Wizard, Weishi Internet of Things, Oulu, Daqi Finance and Taxation, Niuxinyun, Kaiqi Supply Chain, Leyu Cross-border, J&P Group, surpath, Kaleidoscope Cross-border, Cross-border Xingyun, Qbit, Cross-border Seller Network.
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