This past year the cross-border e-commerce industry has seen a more favorable environment as the number of retail import pilot cities has expanded close to 1.5 times. Additionally, the convening of the third CIIE right on schedule shows China is opening up wider and supporting new forms and models of cross-border e-commerce.
China's consumers are pursuing premium overseas products to meet their aspirations for progress in looking after themselves, their families, and their pets. With the global pandemic raging on, now perhaps more than ever, cross-border platforms represent an incredibly competitive way for foreign brands to sell to China.
Tmall Global, Kaola, and Jingdong Worldwide were the TOP3 cross-border import e-commerce retailers in 2020 Q1, with a market share of 35.7%, 27.1%, and 13.4%, respectively . We have revisited the roads taken by these major players' over 2020 and highlighted a few key trends.