NielsenIQ and JD Worldwide Jointly Release the 2024 White Paper on China Cross-Border Import Consumption Trends

경제뉴스
2024-08-02 11:10 AM
(이코노미아울렛-뉴스)

Recently unveiled by NielsenIQ (NIQ) and JD Worldwide, JD.com’s one-stop ecommerce channel for imported goods, the 2024 White Paper on China Cross-Border Import Consumption Trends (“White Paper”) highlights that the industry has entered an advanced phase of upgrade and growth. As cross-border e-commerce platforms consolidate rapidly and brands engage directly in cross-border trade via e-commerce channels, a robust ecosystem has taken shape in China. Such a booming picture is partly underpinned by increasing consumer trust in these platforms, with over 80% of consumers expressing an interest in purchasing overseas products.

In response to diversified consumer demands, JD Worldwide and other leading cross-border e-commerce platforms now offer a comprehensive range of products, including digital, home & appliance, beauty and skincare, fashion and luxury items, personal care and household essential, mom & baby, pets, alcohol, and food & beverage. This comprehensive coverage ensures that consumers have access to diverse, personalized, and high-quality products for all aspects of daily life. The White Paper highlights consumer preferences for authenticity, quality assurance, and efficient logistics when purchasing imported products.

According to the White Paper, China’s cross-border import e-commerce market grew from 444.1 billion yuan to 548.3 billion yuan from 2018 to 2023. From 2017 to 2023, the number of users of China’s cross-border import e-commerce platforms increased by nearly 20% annually, tripling in seven years and reaching 188 million in 2023.

As consumer trust in cross-border e-commerce platforms continues to grow, so does consumption frequency and expenditure across more diverse product categories. Over the past year, 36% of consumers have increased their spending on imported goods, and 35% have bought a wider variety of imported products. Notably, there has been a marked increase in purchases of beauty and personal care products, driven by rising self-care awareness.

The robust demand is supported by a diverse supply of goods. In stark contrast to the initial phase of cross-border consumption, when consumers had limited access to overseas products such as infant formula and beauty products via private shopping representatives, today’s cross-border e-commerce platforms have been able to supply full categories of products. Thanks to this progress, consumers are given chances to purchase more diverse and targeted overseas products. Despite different preferences for different products used in different scenarios, they give priority to quality when purchasing imported goods. As highlighted in the White Paper, 56% of consumers cite quality as the reason for selecting international brands and products from overseas.

The White Paper delves into 10 major product categories to identify key trends shaping China’s import consumption and unveil the recipes for better development.

>From a category trends perspective, the most significant purchases over the past year have been in the beauty and skincare, personal care, nutrition and healthcare, mom & baby, and food and beverage product categories. There is a growing focus on product efficacy and an increased emphasis on raw material quality and place of origin. Notably, consumers are demonstrating a heightened interest in authentic, safe, and organic beauty and personal care products, with a particular focus on ingredient efficacy and a growing demand from male consumers. The nutritional supplements sector exhibits an age-related divide, with younger consumers preferring snack-type supplements and older demographics prioritizing bone and joint health products. There is a growing trend of supplement use among the elderly, with these products now becoming an integral part of their daily routines. In the mom & baby products sector, consumers have been accustomed to getting a detailed understanding of products in advance, to opt for the most suitable ones for their children. The demand for infant formula is shifting towards high-end products, with premium quality and hypoallergenic options gaining traction, even in lower-tier markets. In the food and beverage sector, the introduction of new products is the primary driver of growth, with premium, healthy, and convenient options proving particularly popular.

In rapidly growing product categories such as 3C electronics, home appliances, fashion, household essentials, alcohol, and pet care, consumer decisions are driven by advanced technology and value for money. In the 3C electronics and home appliance sectors, consumers are drawn to products that offer a combination of fun, innovation, and convenience, and are more willing to get new products with competitive prices. The fashion category is buoyed by interest in outdoor sportswear, with casual wear gaining prominence and significant potential in professional settings. In the household essential sector, consumers are seeking more efficient and easier ways to do household chores, particularly in lower-tier markets, which are driving sales of imported cleaning products. The alcohol sector is experiencing growth fueled by consumers seeking a wider range of products with more affordable prices. The pet category is also expanding rapidly, driven by increasing awareness of pet health and the adoption of scientific pet care concepts, particularly smart pet products.

The White Paper concludes by emphasizing that the segmentation of consumer demands in China presents both opportunities and challenges for cross-border imports. Against this backdrop, understanding consumer needs and trends, and realizing product differentiation is key to achieving sustainable growth.

Furthermore, the white paper explains the evolution of China’s cross-border import industry spans several phases: from the exploratory era of the 1990s dominated by a C2C model, to the emergence of the B2B model during the expansion phase, and subsequently to the rapid growth of the B2C e-commerce model in the upgrade phase. Driven by favorable policies, improved infrastructure, diverse supply, and rising demand, cross-border e-commerce platforms are further consolidating, defining a new era of upgrade and growth for China’s cross-border e-commerce industry.

This phase presents significant opportunities for foreign brands. The White Paper points out that China’s cross-border e-commerce platforms can offer foreign brands a diversified range of service models. By implementing a three-step strategy encompassing low-cost trial, brand awareness building, and brand scale expansion, foreign brands can effectively establish a presence in the Chinese market.

NIQ and JD Worldwide collaborate to assist brands in integrating insights into consumers, products, and markets, and optimizing operations across the value chain. This encompasses a comprehensive range of services, from understanding consumer needs to refining product development and finding precise market positioning, with the goal of enhancing competitiveness and sales performance in the Chinese market.

· From the consumer perspective, our efforts focus on segmenting consumer groups and identifying consumer characteristics across different regions and city tiers. We listen to opinions on social media and get feedback from consumers to gain deeper insights into what makes them decide to purchase a product.
· From the product perspective, we assist brands in conducting product portfolio testing, optimizing sales concepts, and developing product mixes that resonate with diverse consumer needs. We also analyze pricing strategies across various channels to ensure competitiveness in the market.
· From the market and sales channel perspective, we analyze consumption scenarios to identify key touchpoints for consumer purchases and develop tailored strategies for touchpoint optimization and lead generation. We also explore market entry strategies and potential platform partners to facilitate effective brand introduction and adaptation.

About NIQ

NielsenIQ (NIQ) is the world’s leading consumer intelligence company, delivering the most complete understanding of consumer buying behavior and revealing new pathways to growth. NIQ combined with GfK in 2023, bringing together the two industry leaders with unparalleled global reach. Today NIQ has operations in more than 95 countries covering 97% of GDP. With a holistic retail read and the most comprehensive consumer insights—delivered with advanced analytics through state-of-the-art platforms—NIQ delivers the Full ViewTM. For more information, visit https://nielseniq.com

About JD Worldwide

JD Worldwide is a prominent cross-border e-retailer in China, facilitating transactions and interactions, and disseminating product information for international brands and merchants. As a business unit of JD.com, JD Worldwide not only upholds the brand’s reputation for authenticity and quality but also leverages JD’s advanced global fulfillment networks, extensive e-retail operational expertise, and comprehensive customer service systems. JD Worldwide offers both the “Retail Model (1P)” and the “Marketplace Model (3P)” to accommodate the diverse needs of its partners, regardless of whether they have a local team in China.

For further information, please contact worldwide@jd.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240731273414/en/


함께 보면 좋은 콘텐츠

All posts
경제뉴스 2024-08-22 08:54 AM

제8회 ‘SK 이천포럼 2024’ 폐막

(이코노미아울렛-뉴스)최태원 SK 회장은 21일 “AI가 가져오는 변화들이 우리에게는 모두 기회라고 생각하고 있으며, 이 트렌드를 잘 활용해 변화를 빨리 이끌어 나가는 것이 우리가 AI 생태계에서 살아남는 방법이 될 것”이라고 강조했다. ...

경제뉴스 2024-08-09 14:10 PM

사회연대은행-아름다운재단, 한부모여성 창업자금 대출 지원 ‘희망가게’ 지원자 모집

(이코노미아울렛-뉴스)함께만드는세상(사회연대은행)이 아름다운재단 한부모여성 창업자금 대출 지원사업 ‘희망가게’ 참여자 모집을 시작한다. 아름다운재단-사회연대은행, 2024년 한부모여성 창업자금대출지원사업 ‘희망...

경제뉴스 2024-08-22 15:55 PM

Impress Global Markets with Innovations Featured at CHTF2024

(이코노미아울렛-뉴스)The 26th China Hi-Tech Fair (CHTF2024) will take place on November 14-16 in Shenzhen. Under the theme “Technology Leads Development, Industry Integrates Fusion,” CHTF2024 promises to be the most influential edition by bringing true innovations into spotlight. Covering 400,000m2, CHTF2024 will highlight innovations in AI, robotics, equipment manufacturing, e...

경제뉴스 2024-07-01 09:14 AM

애경케미칼, ESG 성과 담은 지속가능경영보고서 발간

(이코노미아울렛-뉴스)애경케미칼이 1일 지난해 ESG(환경·사회·지배구조) 경영 활동과 성과를 담은 ‘2023 지속가능경영보고서’를 발간했다고 밝혔다. 애경케미칼은 ‘더(THE)! 애경케미칼’이라는 ESG 전략을 공개하며 체계적인 ESG 경영 활동에 매진해 왔다. △환경: Together with Environment △사회: Happy...

경제뉴스 2024-06-27 11:17 AM

롯데정밀화학, 지구온난화 개선 연계 지속가능경영보고서 발간

(이코노미아울렛-뉴스)롯데정밀화학은 지구온난화 방지에 기여하는 ‘지속가능경영 QR기부 캠페인’과 함께 ESG (환경·사회·지배구조) 경영 성과와 중장기 추진 전략을 담은 2023 지속가능경영보고서를 발간했다고 27일 밝혔다. 아울러 2년 연속으로 롯데정밀화학은 지속가능경영보고서 열람이 ESG...

경제뉴스 2024-07-18 14:20 PM

LTIMindtree Delivers 2.6% QoQ USD Revenue Growth in CC

(이코노미아울렛-뉴스)LTIMindtree [NSE: LTIM, BSE: 540005], a global technology consulting and digital solutions company, announced its consolidated results today for the first quarter ended June 30, 2024, as approved by its Board of Directors. “While the environment remains unchanged, fiscal 25 started on a positive note for us with Q1FY25 revenue of USD 1.1 billion, registering ...

경제뉴스 2024-07-03 09:12 AM

2024년 글로벌 시티즌 어워드 후보 추천 접수 개시

(이코노미아울렛-뉴스)앞서가는 글로벌 영주권 및 시민권 자문 기업 헨리 앤드 파트너스(Henley & Partners)가 스위스의 비영리 인도주의 조직 안단 파운데이션(Andan Foundation)(https://www.andan.org/)과의 협력 하에 2024 글로벌 시티즌 어워드(Global Citizen Award)(https://shorturl.at/95npz) 후보 접수를 시작한다고 발표했다. ...

경제뉴스 2024-07-09 10:00 AM

카라반 끝판왕 한자리에… 세계 최대 카라반 산업전 독일 뒤셀도르프 ‘카라반살롱 2024’ 오는 8월 31일 개최

(이코노미아울렛-뉴스)카라반은 다른 어떤 휴가 형태와 비교할 수 없는 자유와 개성을 충족시켜 준다. 원하는 곳으로 언제든 떠날 수 있는 유연함과 자신만의 공간을 꾸밀 수 있는 창의성이 바로 그 매력이다. 이런 매력을 가진 카라반을 좋아하는 사람들, 세계 알비어들의 마음을 설레게 할 전시회가 돌...

경제뉴스 2024-08-09 09:26 AM

한국 딜로이트 그룹 ‘딜로이트 2024 글로벌 인적자원 트렌드’ 리포트 발행

(이코노미아울렛-뉴스)생성형 AI 등 기술과 사회 변화로 인해 전통적인 ‘일의 모델 경계’가 흐릿해지는 가운데 인적 성과(human performance)에 주목한 의미 있는 보고서가 나왔다. 한국 딜로이트 그룹이 95개국 HR 리더 1만4000명을 대상으로 설문조사해 펴낸 ‘딜로이트 2024 글로벌 인적자원 트렌드’ 리포트...

경제뉴스 2024-08-14 14:28 PM

KPR, 혹서기 쪽방촌 주민 위해 의류 및 여름용품 지원

(이코노미아울렛-뉴스)종합 커뮤니케이션그룹 KPR (사장 김주호)이 서울 종로구 돈의동 쪽방 거주민의 혹서기 극복을 위한 의류와 여름용품 등을 지원했다고 14일 밝혔다. KPR 임직원들과 돈의동쪽방상담소 관계자가 기념 사진 촬...

경제뉴스 2024-07-08 09:43 AM

미래에셋생명, 지속가능경영보고서 발간… 경영 전반에 지속가능경영 가속화

(이코노미아울렛-뉴스)미래에셋생명이 2023년 지속가능경영보고서를 발간했다. ESG(환경·사회·지배구조) 경영 활동과 성과를 투명하게 공개하며 기업의 책임을 다하고 장기적 성장을 도모하는 경영 방침들을 강조했다. 미래에셋생명 김재식, 황문규 각자 대표이사는 보고서 도입부 공동 메시지에...

경제뉴스 2024-07-02 10:57 AM

한식진흥원, 한식의 성장을 꿈꾸는 ‘청년 한식 창업 프로그램 워크숍’ 성료

(이코노미아울렛-뉴스)한식진흥원(이사장 임경숙)은 지난 6월 29~30일 충북 청주에서 ‘2024년 청년 한식 창업 멘토링 프로그램’에 선정된 멘티를 대상으로 워크숍을 개최했다고 밝혔다. 청년 한식 멘토 및 멘티가 기념 촬영을 하...

Top