HSBC Global Viewpoint
Under the Banyan Tree - China's online retailers are going global
Mar 1, 2024
Exploring the rise of Chinese online retailers in the US and Europe, discussing their expansion strategies and challenges faced internationally. Delving into the competitive risks posed to established players and the emergence of social commerce as a potential threat in certain regions
13:28
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Quick takeaways
- Chinese e-commerce giants are expanding globally to tap into the $2.6 trillion market, driven by domestic growth slowdown.
- Chinese firms entering US and Europe focus on budget-friendly products and unique business models, facing challenges like political risks and cultural differences.
Deep dives
Reasons for Chinese Internet Companies Expanding Overseas
Chinese e-commerce giants are venturing into international markets due to a slowdown in domestic growth and the vast opportunities abroad. With e-commerce already accounting for 37% of retail spending in China, these companies are eyeing the $2.6 trillion global e-commerce market, with the US and Western Europe being top targets. Companies like Alibaba, TikTok, Timo, and Shein are at the forefront of this expansion, leveraging their expertise and innovative strategies.
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