Consumption pays for “beauty”
The Southeast Asian market, which focuses on cost performance, has an increasing demand for Chinese products, and the local demand for cosmetics, bags, clothing and other self pleasing products is growing. It is a sub category that cross-border e-commerce enterprises can focus on.
According to the survey, in 2021, the market share of cross-border e-commerce export products of 80% of the surveyed enterprises in Southeast Asia increased year on year. Among the enterprises interviewed, products such as beauty personal care, shoes, bags and clothing accessories account for more than 30%, and are the preferred category for cross-border e-commerce exports; Jewelry, mother and child toys and consumer electronic products account for more than 20%.
In 2021, among the cross-border hot selling categories at various sites of shopee (shrimp skin), a mainstream e-commerce platform in Southeast Asia, 3C electronics, home life, fashion accessories, beauty care, women’s clothing, luggage and other cross-border categories were most sought after by Southeast Asian consumers. It can be seen that local consumers are more willing to pay for “beauty”.
From the practice of overseas enterprises, Singapore and Malaysia, which have a large number of Chinese, a more mature market and strong consumption capacity, are the most favored markets. 52.43% and 48.11% of the surveyed enterprises have entered these two markets respectively. In addition, the Philippines and Indonesia, where the e-commerce market is growing rapidly, are also potential markets for Chinese enterprises.
In terms of channel selection, the cross-border e-commerce market in Southeast Asia is in the period of flow dividends, and the popularity of local shopping on social media is close to that of e-commerce platforms. As predicted by the ken, an Indian venture capital media, the market share of social e-commerce will account for 60% to 80% of the total e-commerce market in Southeast Asia in the next five years.
Post time: Jul-26-2022