Week #23: TikTok Shop Captures 37% of U.S. Chinese E-Commerce Sales During 'Deals for You Days' | UGREEN Debuts on Shenzhen Stock Exchange's Growth Enterprise Market
Latest news and analysis on China’s global e-sellers
Here’s our pick for last week’s news:
Sailvan Times Expects Half-Year Revenue to Exceed $550 Million
Shein Ramps up Efforts in Semi-Managed Business
Alibaba.com Capitalizes on Olympic Economy with Over $960 Million in Exports
TikTok Shop Set for October Launch in Ireland and Spain
Dreame Reports 102% Growth on Prime Day Sales in North America
Shein to Launch First Pop-Up Store in South Africa to Attract Shoppers
Nocnoc Teams Up with Ant Group to Empower Chinese Sellers in Latin America
AliExpress Soars to Brazil's Most Visited Cross-Border E-Commerce Platform
SF Express Rolls out a Direct Delivery Service from London to China
TikTok Shop Captures 37% of U.S. Chinese E-Commerce Sales During 'Deals for You Days'
UGREEN Debuts on Shenzhen Stock Exchange's Growth Enterprise Market
Sailvan Times Expects Half-Year Revenue to Exceed $550 Million
Sailvan Times has released its performance forecast, predicting revenue of $572.41 to $586.20 million for the first half of this year, an increase of 49.66% to 53.26% compared to the same period last year. The net profit attributable to shareholders is projected to be between $31.45 and $34.21 million, up 51.64% to 64.94% year-on-year. Both revenue and net profit have seen substantial growth.
The company attributes this growth mainly to its strategy of branding for overseas markets, increased efforts in brand incubation, improved brand operation efficiency, and expanded brand development channels. Clearly, "brand" is the key strategy for Sailvan Times' development. The company holds several billion-yuan overseas brands, creating a significant "brand effect."
Since 2018, Sailvan Times has incubated 15 brands with annual revenues exceeding $13.79 million. Among these, the leading brands—Avidlove (lingerie), Ekouaer (homewear), Coofandy (menswear), and Ancheer (sportswear)—achieved a combined revenue of over $206.89 million in the first half of last year, contributing 54.77% of Sailvan Times' sales.
Shein Ramps up Efforts in Semi-Managed Business
Shein is ramping up efforts on semi-managed sales, backing top product lines like footwear, travel gear, and fitness equipment for global reach. Products in these areas gain benefits like enhanced visibility and price incentives. An insider revealed Shein's long-term commitment to this model, with some sellers doubling their sales in just two months.
Alibaba.com Capitalizes on Olympic Economy with Over $960 Million in Exports
Backed by substantial advertising investment, merchants on Alibaba.com, Alibaba's international B2B platform, are reaping the benefits of the Olympic economy. According to Alibaba.com, Olympic-related hotspots have surged this year, with export volumes for Olympic-related industries exceeding $965.5 million from January to the present.
The growth extends beyond traditional sports apparel. Emerging sectors such as artificial turf and sports flooring on Alibaba.com have also experienced rapid growth leading up to the Olympics. Orders shipped to France, for instance, have increased by 139.58% year-on-year.
Wall Street News notes that unlike previous Olympics, where economic activity was concentrated in Yiwu and other industrial hubs, Alibaba.com has facilitated a broader distribution of Olympic-related traffic to more outbound industrial belts. In Guangdong, the number of new merchants registered on Alibaba.com has increased by 30% year-on-year since April.
TikTok Shop Set for October Launch in Ireland and Spain
TikTok is set to launch TikTok Shop in Spain and Ireland as early as October, reviving efforts to expand its rapidly growing European business.
The social media giant, owned by ByteDance, has recently engaged with partners, including retailers and creative agencies, to prepare for the launch, Bloomberg reports, citing sources familiar with the situation.
TikTok Shop has reportedly assembled a team of about 40 employees in Spain, making it one of its largest e-commerce outposts in Europe. While the initial rollout will be smaller than originally planned, there are plans to expand to other European regions next year, the sources said.
A TikTok spokesperson declined to comment specifically on the European plans but stated that the company will "continue experimenting with this new commerce opportunity to support businesses of all sizes and enable our community to discover and engage with products they love."
Dreame Reports 102% Growth on Prime Day Sales in North America
Dreame's latest report on Amazon Prime Day 2024 highlights a strong performance, with an 80% YoY growth in GMV in Southwest Europe, totaling $24.83 million. Their robot vacuums alone brought in $18.21 million, with over 22,000 units sold. The X40 Ultra Complete and L10s Pro Ultra were top sellers, and the X40 set a new sales record, selling over 750 units in the first hour.
In North America, Dreame's GMV reached $10.94 million during Prime Day, a 102% increase from last year, with 14,000 units sold across all channels. Robot vacuum GMV was $8 million, with 7,500 units sold. The X40 Ultra and L10s Pro Ultra hit new sales highs, while their washing machines brought in $2.21 million, with 4,300 units sold. The H12 Pro was the top product in its category.
Beyond Amazon, Dreame's sales on their own DTC site increased by 760% YoY; on eBay, their robot vacuums ranked first in both sales and market share, with the L10s Ultra topping the category.
Dreame products are now available in over 100 countries, including the U.S., Germany, France, and South Korea. With over 10 million members worldwide, Dreame has served more than 21 million households. In 2023, Dreame's international revenue grew by over 120%, and in Q1 2024, international revenue made up over 50% of total sales.
Shein to Launch First Pop-Up Store in South Africa to Attract Shoppers
Fast-fashion giant Shein is set to open its inaugural pop-up store in Johannesburg this August, aiming to boost brand recognition in South Africa. Known for its $5 tops and $10 dresses, Shein sees these temporary stores as vital to its strategy.
"Bringing the Shein experience directly to consumers is key," the company stated, highlighting the success of previous pop-ups in allowing customers to interact with products and brand ambassadors.
The Johannesburg pop-up, running from August 2-11, will serve as an exhibition space where customers can try on fashion items and order them online at a discount. Local influencers are involved in the pre-opening marketing campaign, the company announced on Instagram.
Nocnoc Teams Up with Ant Group to Empower Chinese Sellers in Latin America
Nocnoc, the largest cross-border online shop in Latin America, has joined forces with Ant Group, Alibaba's finance arm, in a milestone partnership. This strategic alliance aims to transform how e-commerce works in Latin America, leveraging Nocnoc's local expertise and Ant Group's tech to help sellers expand smoothly and securely.
With 1.6 billion monthly visitors, Nocnoc has supported over 1,300 sellers with more than 1.2 million orders since 2018. Sellers on Nocnoc benefit from extensive exposure and user reach without managing multiple accounts or platforms. This partnership enables Chinese sellers to effortlessly engage with over 15 e-commerce platforms in Latin America, reaching a consumer base exceeding 6.5 billion.
Diego Szilagyi, Nocnoc's co-founder and CCO, explained, "This is more than just a deal. The synergy between Nocnoc and Ant Group will advance global e-commerce and drive positive changes in Latin America. By integrating our tech and sharing resources, we'll help sellers grow more effectively. For instance, we'll make payments quicker and cheaper with Ant Group's network and use our shared data to target customers better, boosting sales and visibility. Plus, we'll explore new business models to invigorate the global e-commerce industry."
AliExpress Soars to Brazil's Most Visited Cross-Border E-Commerce Platform
In June 2024, Alibaba's AliExpress, one of China's top e-commerce platform, became the most visited cross-border e-commerce platform in Brazil, according to Conversion. This surge in traffic has spurred a 3.5% increase in imported goods. Visits to AliExpress in Brazil jumped by 11.9%, mainly driven by website traffic.
The report also highlights the rapid rise of AliExpress, Shein, and Shopee in Brazil, now making up 15.4% of the e-commerce market and continually breaking records.
AliExpress has significantly ramped up its investment in Brazil this year, partnering with local retail giant Magalu in June to integrate sales channels and products, providing Chinese cross-border merchants with a vast new influx of traffic. Additionally, new tax reforms have reduced import taxes by $20 for cross-border packages over $50, creating new opportunities for high-value items.
SF Express Rolls out a Direct Delivery Service from London to China
SF Express has launched a direct delivery service from London to China, offering a seamless "door-to-door" solution that eliminates the need for third-party carriers. This move marks SF's first big step in the UK, marking its another significant breakthrough in the international market.
To ensure timely delivery, flights have increased from twice a week to four times a week, cutting shipping time to just 6-13 business days. With 24/7 customer support available both domestically and abroad, SF Express underscores its commitment to global expansion.
TikTok Shop Captures 37% of U.S. Chinese E-Commerce Sales During 'Deals for You Days'
TikTok Shop's "Deals for You Days" event accounted for 37% of Chinese e-commerce sales in the U.S. for the week ending July 11, with a record average spend of $52 per customer, according to a new report from Earnest Analytics. The report notes a previous decline in U.S. customer spending on TikTok Shop since March.
As TikTok Shop gained ground on rivals Shein and Temu, a separate report released earlier this year reveals a significant customer overlap. In the 12 months ending February, 28% of Shein customers and 25% of Temu shoppers also purchased from TikTok Shop.
UGREEN Debuts on Shenzhen Stock Exchange's Growth Enterprise Market
UGREEN, a Shenzhen-based leader in consumer electronics and charging technology, has successfully listed on the Shenzhen Stock Exchange's Growth Enterprise Market. The IPO aims to raise 1.504 billion yuan for research and development, industrialization, branding, warehouse and logistics.
Founded in 2012, UGREEN focuses on innovative electronic devices and accessories across six main categories: mobile phone peripherals, computer peripherals, audio and video peripherals, car peripherals, home life peripherals, and industrial control accessories. The brand has earned the trust of over 100 million users in more than 130 countries. According to QYResearch, UGREEN's global market share for mobile data cable products was 0.58% in 2021, ranking eighth globally, with a 1.59% share in China, also ranking eighth.