Arya News - Experts noted that those living in first-tier cities remain the primary purchasers of imported goods, while shoppers in lower-tier cities and townships are also showing keen interest in buying such commodities.
BEIJING – Chinese consumers are displaying vibrant purchasing power for imported products and foreign brands, and this has become a key driver for consumption upgrade fueled by enhanced logistic efficiencies, preferential policies such as lower tariffs, and an expanded list of permitted imported goods.
Experts noted that those living in first-tier cities remain the primary purchasers of imported goods, while shoppers in lower-tier cities and townships are also showing keen interest in buying such commodities.
JD Cross-Border, the cross-border import e-commerce arm of JD, teamed up with global retailers such as Amazon and Walmart during the just-concluded Black Friday global shopping festival.
This allowed Chinese consumers to select from a wide array of foreign goods across key categories such as electronics, beauty and skin care, apparel, luxuries, food and beverage, and local specialties via cross-broader online marketplaces, JD said.
An increasing number of Chinese consumers participated in the global shopping carnival this year. Black Friday, which marks the start of the Christmas shopping season in the West, is characterized by shopping frenzy in packed retail outlets offering big discounts. Falling on Nov 28 this year, it has evolved into a bonanza for brick-and-mortar retailers, e-commerce players and consumers alike from around the world.
Li Yanchuan, head of Amazon Global Store Asia-Pacific and Amazon Singapore e-commerce, said the cross-border shopping behavior of Chinese consumers has undergone significant changes.
They are no longer simply purchasing commodities with low prices, but are paying more attention to online shopping search experiences, the process of customs clearance, logistics and after-sales service, Li said.
Amazon Global Store kicked off its Black Friday shopping spree with the promise of steep discounts on more than 3 million foreign products, covering approximately 30,000 international brands across 35 categories.
Li said niche and personalized products that match Chinese buyers’ interests and specific usage scenarios are gaining increasing popularity, with outdoor sports apparel, cycling gear and rock-climbing equipment seeing robust growth in sales.
Yang Wenfang, a 35-year-old high school teacher in Beijing, scrolled through websites and apps to buy some foreign-branded products to celebrate the upcoming New Year’s Day holiday.
“I find cross-border online shopping very convenient and discounts are often available. Chilean cherries, Norwegian salmon, milk from New Zealand, and French red wine arrive at my door in just a few days after I place an order online,” Yang said.
According to a report from JD’s Consumption and Industry Development Research Institute, smartphones, personal care products, cosmetics, watches, eyeglasses, infant and maternal goods, nutrition and healthcare products are the categories most favored by Chinese consumers among all imported merchandise.
People in the 26 to 35 age group are the main consumers of imported products, accounting for nearly 50 percent of all buyers. The 46 to 55 age group is now the fastest growing segment among buyers of imported products, the report said.
China has introduced preferential policies, such as lowering import taxes and expanding the range of goods allowed to be imported, along with the expansion of domestic demand and advancements in emerging retail technologies.
“Chinese consumers have demonstrated increasing demand for diversified, personalized and niche overseas products that represent new lifestyles, with an emphasis on the value of the products they buy,” said Zhang Zhouping, a senior analyst of business-to-business and cross-border activities at the Internet Economy Institute, a domestic consultancy.
Zhang said that cross-border e-commerce has played a significant role in enriching product supply, bolstering the development of new business models and promoting the recovery of consumption, while calling for greater efforts to further optimize the list of imported retail goods for cross-border online purchases.
Market consultancy iiMedia Research said that with China’s further opening-up and gradual improvement in logistics and deliveries, the demand for imported goods will continue to increase and provide a big boost to consumption upgrade.
Hong Yong, an associate research fellow at the Chinese Academy of International Trade and Economic Cooperation, said that “cross-border e-commerce platforms that can offer products at competitive prices, fast delivery and good shopping experience will gain an upper hand amid the fierce market competition”.
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