The Global Cross-border Service Provider Conference comes back to Shenzhen after the successulff 2018 edition. Are you ready ?
Not only O2O and “New Retail”, China is leading digital financial and e-commerce sectors. Why using cash when you can pay just scan your QR code on your phone or buying products just checking a list at home? The future is e-commerce, and it speaks Chinese. Actually Alibaba and Tencent are making strides to digitize the remaining 85% of China’s retail and reach the 60% offline consumer population.
The big e-commerce players are targeting grocery stores first. Alibaba has 25 unmanned Hema Supermarket stores with plans to open 30 more. JD.com recently opened an unmanned supermarket, 7Fresh, in Beijing and plans to open 1000 more. Here five things you have to know about e-commerce trends and Cifnews Conference 2019.
Why E-Commerce is speaking Chinese?
PRC leads the world in e-commerce. Today, more than 40% of whole online transactions take place in China. Here are five future trends to look out for in China’s e-commerce landscape. One decade ago, PRC’ s e-commerce transactions count only 1%. China e-commerce is much more than simply a means for consumers to secure bargains on everyday purchases. It is an important driver of economic and social development that is powering transformational change across the country.
As Jack Ma stated at the 2018 World Economic Forum Annual Meeting in Davos: ”No-one can stop globalization, no-one can stop trade.” And it’s true. As WTO recently underlined, one of the greatest indications of the role e-commerce plays in driving globalization is the amount of cross-border e-commerce between China and the rest of the world. Tree years ago, the market size of cross-border retail e-commerce sales in China was $78.5 billion; experts expected that this number will exceed $140 billion by 2021.
Why Shenzhen? The First “Chinese Silicon Valley” is still Roaring
Shenzhen – the fishing village turned megalopolis of China’s South – became a Special Economic Zone in 1980. According to the 13th Five Year Plan, this city will spend 5% of its annual GDP BY 2020 replacing traditional factories with automation. Shenzhen sets the benchmark for tech manufacturing.
Here tech-giant such as Huawei or Tencent have their head quarter. The cutting edge of robotics, hardware, and manufacturing passes through Shenzhen before hitting the global markets. Shenzhen is home to tech manufacturing, automation, and the robots that will fill tomorrow’s factories, and still now is one of the most important, with Beijing and Hangzhou, Chinese “Silicon Valley”.
E-commerce Special Trade Zones
The country has been setting up new cross-border e-commerce pilot zones in 13 cities since 2015 – included first and second tier – which has led to tremendous growth, plus State Council has just approved 22 more locations across China. How they work?
These pilot zones provide a system with simplified regulations for faster examination and approval, custom clearance, and easier information sharing for cross-border e-commerce imports and exports. In addition, Chinese e-commerce companies such as Alibaba have also been promoting special e-commerce trade zones in countries like Malaysia and Thailand; although there have also been some concerns on monopoly and impact on local firms.
E-commerce is going to West
The future of Chinese e-commerce is the west. During the past 2 years, online commerce is increasingly occurred not only in PRC rural and inland regions, but also in new places such as MENA region. In traditional international trade(B2B), China has always been the largest import source of Gulf countries, and the proportion of daily consumer goods from China is quite large, but many excellent Chinese brands have not entered the MENA market yet.
The World Bank’s economic forecast for the MENA region show that the overall economic growth will be positive in the next five years. The population structure is extremely young, with more than 55% of the population under 30 years old in Saudi Arabia. Today, almost 50% of e-buyers are between 26-35 age group. Government incentives, such as the Saudi Vision 2030, will greatly stimulate private economic growth. And e-commerce is growing. In the last 3 years 70% of Middle East consumers made their first online purchase, while 40% of transactions are thought card/ e-wallet.
Cifnews Conference Mission: switch on the e-commerce around the world
The future is e-commerce, and now business means e-commerce. As China’s internet sector has an increasing influence on the world at large, all eyes are on the Dragon’s current and future role in cyberspace. More and more foreign businesses are eyeing China as an attractive potential market for their products, but e-commerce trends are still difficult to understand, and vice versa.
Those events were established in 2017 and are dedicated to factories, buyers, e-commerce operators and third-party service providers from all over the world, covering the whole supply chain. That’s why next few days thousands of industry professionals will attend the Shenzhen Cifnews Conference organized by Cifnews in Shenzhen.
The Global Cross-border Service Provider Conference will be in January 2019, with a forecasted attendance of thousand visitors from all over China and abroad. E-commerce means China, and Cifnews mission is to connect companies and vendors to satisfy the needs of increasingly high-speed and interconnected global market. The Global Cross-border Service Provider Conference comes back to Shenzhen after the successulff 2018 edition. Are you ready for it?
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CCEE (CIFNEWS CROSS-BORDER E-COMMERCE EXHIBITION)
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