People shop during Black Friday in Rome, in November. LI JING/XINHUA
BEIJING — Transcending distances and national borders, the Black Friday shopping spree has become an extravaganza for both US and Chinese firms as well as consumers, thanks to the expansive reach of cross-border e-commerce.
According to several data providers, Black Friday spending in the United States saw a robust rise online, indicating the growing popularity of e-commerce as a convenient avenue for securing the best deals on desired products.
Online shopping on Nov 29, the first day of this year's Black Friday shopping spree, reached a record $10.8 billion in sales, US media reported, citing data from Adobe Analytics, which tracks US e-commerce trends. This represents a 10 percent increase over last year's Black Friday and more than double the spending recorded in 2017.
This shifting shopping preference has fueled the expansion of Chinese cross-border e-commerce platforms, which offer a wide range of high-quality, affordable made-in-China products delivered directly to consumers worldwide.
Chinese cross-border e-commerce retailers like Shein, PDD's Temu, and TikTok Shop saw strong growth in sales in the seven days starting Friday compared to a year earlier, Reuters said.
The robust sales on these platforms are supported by an efficient cross-border e-commerce ecosystem, which includes manufacturing hubs, streamlined Customs processes and expanding logistics networks.
Black Friday has long marked a bustling production and sales season for Yiwu, Zhejiang province, a city in eastern China known as the "world's supermarket" and a key supplier for Chinese cross-border e-commerce platforms.
"During the Black Friday season, we have prepared a stock of 300,000 to 400,000 items, and hopefully this major promotion could increase our revenue by 20 percent to 30 percent year-on-year during the period," Wu Tingxuan, marketing director of a sporting goods company in Yiwu, told Chinese media.
China has some 120,000 cross-border e-commerce export enterprises. In the first three quarters of 2024, the country's total cross-border e-commerce imports and exports grew by 11.5 percent year-on-year in value.
Chinese logistics providers are accelerating their overseas expansion and partnerships to ensure timely deliveries. The logistics arm of Chinese e-commerce giant JD.com reported having extensive last-mile transportation resources in North America, with its two-to-three-day delivery service now covering all orders across the US.
The development of cross-border e-commerce has not only enabled overseas shoppers to enjoy highly cost-effective made-in-China products, but also offers Chinese consumers access to overseas products and sales promotions.
Earlier in November, Amazon Global Store opened its official online flagship store on JD.com, offering Chinese customers over 400,000 overseas hot-selling products from more than 12,000 brands such as Doctor's Best, Marshall and Anne Klein.
The partnership has allowed Chinese shoppers to take advantage of Black Friday sales on the online store, with discounts of up to 70 percent on some imported goods.
Cross-border e-commerce enjoys unique advantages in terms of identifying and meeting consumers' specific demands, fast delivery and high cost-effectiveness, said Wang Shouwen, China's vice-minister of commerce.
The commerce ministry last month unveiled a policy package to promote trade growth, highlighting efforts to spur cross-border e-commerce development such as advancing the building of overseas smart logistics platforms.
"Cross-border e-commerce has demonstrated a strong competitive edge and emerged as a vital force in global trade. Its share in international trade is expected to continue expanding steadily," Wang said.
Xinhua
