Interpretation of the 2024 Cross border E-commerce Trend Report | TikTok Shop and other new channels become the focus of seller layout

Recently, the "2024 Cross-border E-commerce Industry Trend Report" was released. Among its contents, there are four key points that Tuke believes overseas enterprises should pay special attention to. Below is a detailed introduction for everyone.

1. New Channels like TikTok Shop Become Key Focus for Cross-border Sellers

The report shows that in 2023, multi-platform deployment by cross-border sellers has become the norm.

In addition to Amazon, new sales channels such as Tuke Shop, Temu, Walmart E-commerce, and SHEIN third-party platforms have also become key areas for sellers to focus on.

A survey of 434 mature sellers shows that in 2023, 12% of mature sellers said they had already joined Tuke Shop; 16% of mature sellers opened stores on Temu.

2. 40% of Sellers Increase Investment in Brand Building

In 2023, both cross-border and local sellers have shown a stronger "brand awareness".

A survey of 533 cross-border sellers shows: 39% of sellers said they increased investment in brand building in 2023, only 13% reduced investment, and another 48% said their investment in brand building remained unchanged.

3. Short Video Dividends Drive Overseas Brand Boom

Short videos are no stranger to Chinese brands.

With the influence and cultivation of social media platforms like Douyin and Xiaohongshu, Chinese brands have become familiar with various online marketing strategies and know how to use social media and short video platforms to build brand awareness.

However, as the industry develops, the domestic short video market has become increasingly challenging. When domestic e-commerce channels hit bottlenecks, expanding into overseas markets and opening new growth channels becomes the obvious choice.

Overseas social media platforms such as Tuke, Facebook, YouTube, Instagram, Snapchat, Twitter, and Pinterest have also recognized the needs of Chinese brands going global, investing massive resources to support and help companies enter international markets.

For example, Tuke's e-commerce business has seen rapid growth in markets like the US and Southeast Asia, with many Chinese brands using it to open up overseas sales channels and achieve impressive revenue!

Therefore, it is not hard to foresee that more Chinese brands will engage in overseas marketing in 2024. For companies wanting to seize the initiative, Tuke believes the earlier you prepare, the better. The later you enter, the harder it will be to do business.

4. Online-Offline Integration is the Future Trend

According to a survey of 535 cross-border sellers in the report, 22% said they already cooperate with overseas offline channels, and 36% plan to expand into overseas offline channels in 2024.

It is clear that in the complex overseas market competition, Chinese overseas enterprises no longer rely solely on online platforms for single-channel output. Many have already integrated online and offline channels for blended development.

Compared to the e-commerce market, the overseas offline retail market is indeed more mature:

① Wide coverage of regions and populations; ② Long history of brand chain retail development, with users having stronger brand awareness and higher loyalty; ③ High level of professional offline services, offering a better shopping experience; ④ Offline retail stores and brands have a symbiotic relationship, making store closures less likely.

Regarding the 2024 Cross-border E-commerce Industry Trend Report, Tuke will stop the interpretation here for now. I hope the above sharing will be helpful for your overseas expansion!

(Information source: Hugo Cross-border)