China-based Retailers Selling More Overseas

BI IntelligenceChina's cross-border e-commerce business is growing rapidly and Chinese retailers saw a huge boost last year from foreign shoppers, according to Internet Retailer. Until now, a majority of China's cross-border sales were from domestic Chinese shoppers that wanted foreign-made products. Due to concerns about quality and safety standards, over 60% of Chinese consumers are willing to pay more for products that are made in the US as opposed to made in China, according to a report from the Boston Consulting Group. This is beginning to change as overseas shipments from China's postal service provider, China Post Group, grew 70% in 2015. Additionally, shipments through China Post's ePacket division — designed specifically to handle online orders — grew 90% from 2014. The top destinations for ePacket are the US, Australia, the UK, Canada, France, and Russia. China is forecasted to become the largest market for cross-border commerce by 2020, according to a report from Accenture and AliResearch.

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