Several billion-level blue oceans have emerged, and these categories have been successfully sold out

As macroeconomic uncertainty increases, the growth of peak season promotions in the second half of 2022 has slowed down compared with the same period in previous years. However, at the same time, new markets and new platforms continue to gain momentum with the emergence of new trends, and consumer confidence in Europe and the United States has also rebounded to a certain extent, driving a significant recovery in sellers' peak season sales.

After surveying tens of thousands of cross-border practitioners, covering multiple aspects such as the market, platform, logistics, and financing, the 2022 Cross-border E-commerce Annual Report was finally completed. This article will bring you the second part of the report - the cross-border market trend.

In 2022, due to multiple constraints such as continued global inflation and increased risks of economic recession, the online consumption environment in Europe and the United States continued to cool.

Multiple survey results show that the consumer confidence index of European and American consumers is falling sharply. During the peak season promotion in the second half of 2022, the European and American markets failed to experience a shopping frenzy as expected by sellers, and even caused many sellers to fall into a sales trough of clearing inventory.

In this situation, most sellers are looking for emerging markets that can break through sales growth.

Looking at all the major emerging markets, although Southeast Asia, which has shown strong growth momentum in recent years, has attracted the attention of many sellers, the "2022 Southeast Asia Digital Economy Report" shows that the growth rate of Southeast Asia's digital economy is slowing down in 2022. With the increase in the number of sellers entering the market, the competition in the Southeast Asian market is becoming more and more fierce.

Compared with the popular Southeast Asia, emerging markets such as Africa, Latin America, Japan and South Korea clearly have more room for growth waiting to be explored by those going overseas.

In June 2022, a report from Business Insider indicated that Amazon will officially launch its expansion plans in South Africa and Nigeria in February 2023 and April 2023.

This move not only means that Amazon's African expansion plan will be launched first in Nigeria and South Africa, but also shows that the e-commerce potential of the African market has grown to a point that cannot be ignored.

EcommerceDB research shows that the number of local online consumers in Africa is expected to grow at an astonishing rate of 56% from 334 million to 518 million between 2021 and 2025. At the same time, the penetration rate of e-commerce in Africa is also expected to increase to 40% in 2025.

▲ Data from EcommerceDB

In the future, Africa is even expected to surpass Asia to become the continent with the largest number of e-commerce users in the world.

Although compared with developed regions, Africa's e-commerce market still has disadvantages such as low per capita income, weak infrastructure and lack of a complete supply chain, the strong demographic dividend, the gradually increasing Internet penetration rate, and the continuous improvement of the e-commerce ecosystem have made this billion-level blue ocean the next competitive battlefield for those going overseas.

Since the outbreak of the epidemic, the Latin American e-commerce market has maintained a strong growth momentum, and its development speed ranks among the top in the world. It is estimated that e-commerce sales in Latin America will grow at a compound annual growth rate of 9.9% between 2022 and 2027.

According to relevant data reports, as of October 2022, the e-commerce market in Latin America has reached US$82.9 billion. eMarketer also predicts that the scale of Latin American e-commerce will exceed US$100 billion in 2022, and 25% of retail orders in the Latin American market will be completed online in the future.

As the Latin American e-commerce market continues to grow, the region's logistics infrastructure has become increasingly sophisticated.

In 2022, in addition to the Latin American local e-commerce platform Meikeduo increasing its logistics business layout, giants such as Amazon, Magazine Luiza and Americanas, which have a place in the Latin American e-commerce market, are also continuing to focus on logistics construction.

Online shopping in Latin America has become more convenient. Latin American consumers who enjoy fast and reliable logistics and delivery services may drive further growth in the Latin American e-commerce market and provide cross-border sellers with more overseas options.

① The yen exchange rate continued to fall, but sales continued to grow