cross-border e-commerce retail imports in china: …b2c to overtake c2c by 2016 c2c e-commerce sites...
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The Market in Early to Middle Growth
Stage with 1 Unicorn
Investments in cross-border e-commerce import market averaged 1 to
2 deals per month in 2015. The market was still in early to middle
growth stage with investments concentrating in Series B round. In
addition, a number of investments were in angel and Series A rounds.
The value of each investment averaged 370 million Yuan. Bolome, the
dares horse in the sector, completed 3 rounds of investment in 2015. At
present, Mia has risen to be the unicorn in the market and takes a
commanding lead in valuation.
Company Time Round Value Valuation
(RMB)Note
Beibei Jan. 2015 C $100 mn 6 bnMainly
domestic trade
Ymatou Jan. 2015 B $100 mn 1.5 bn
Bolome
Mar. 2015 Angel$3 mn
300 mnApr. 2015 A RMB 10 mn
Sept. 2015 B $30 mn
Haojiemi Mar. 2015 ASeveral millions of US
dollars/
Taoquanqiu Apr. 2015 AngelSeveral millions of US
dollars/
Gou May 2015 B $50 mn /
BabytreeJun. 2015 D ≈RMB 100 mn
3 bnMainly
communityJul. 2015 / $300 mn
Xiaohongshu Jun. 2015 BTens of millions of US
dollars860 mn
Taoshijie Aug. 2015 B $30 mn 1.16 bn
Mia Sept. 2015 D $15 mn 6 bn
Ou-meng Dec. 2015 Angel Undisclosed /
Wzhouhui Dec. 2015 B RMB 1.57 bn /
Investments in Cross-border E-commerce
Retail Import Market in 2015
The first unicorn
1-2 investment
deals per month
Average value of each
investment: RMB 370 mn
3 rounds of
investment
in a year
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Growing Percentage of Cross-border
Online Shoppers among Online
Shoppers in China
iResearch data shows that cross-border online shoppers made up
22.7% of online shoppers in China, which rose by 9.1% from 13.6% in
2014.
Source: Survey on Online Shopping Behavior of Internet Users conducted by iResearch in 2014 and 2015.
Note: Domestic online shoppers refer to consumers who purchase domestic goods from domestic e-commerce
sites in China.
Cross-border online
shoppers 13.6%
Domestic online
shoppers 99.0%
Cross-border online
shoppers 22.7%
Domestic online
shoppers 98.5%
Share of Cross-border Online Shoppers in
2014
Share of Cross-border Online Shoppers in
2015
44
4
Online Retail Sales of Imported Goods:
Industry Chain
Manufacturer
Consumers
Brand Agent Retailer
Platform-based Direct Sales
Domestic Foreign
Global Comprehensive
Payment Others
Logis
tics
Pro
vid
er
Ware
housin
g
Pro
vid
er
Oth
er
Serv
ice
Pro
vid
er
Onlin
e R
eta
ilers
of
Import
ed G
oods
Supp
lier
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Online Retail Sales of Imported Goods
Skyrocketed in 2015, Growth to Stabilize
in the Next Few Years
As the Chinese government loosened the grip on online retail sales of
imported goods in the second half of 2014, a large number of domestic
e-commerce operators and startups swarmed into the market. Online
retail sales of imported goods reached 118.4 billion Yuan in 2015,
surging 111.9% YoY. The proportion of online retail sales of imported
goods to total online sales of imported goods arrived at 13.2%.
According to iResearch, the market will maintain stable growth in the
next few years amidst favorable government policy.
Source: Based on the financial results published by enterprises, interviews with experts and iResearch’s statistical
model.
21.3 32.6 55.9 118.4
219.8
341.4
526.0
20.1%53.0% 60.0%
111.9%85.6%
55.3% 54.1%
7.4% 7.3% 8.6% 13.2% 19.0% 23.2% 27.9%
-500.0%
-400.0%
-300.0%
-200.0%
-100.0%
0.0%
100.0%
200.0%
02571012141719222426293134363841434648505355586062656770727477798284868991949698101103106108110113115118120122125127130132134137139142144146149151154156158161163166168170173175178180182185187190192194197199202204206209211214216218221223226228230233235238240242245247250252254257259262264266269271274276278281283286288290293295298300302305307310312314317319322324326329331334336338341343346348350353355358360362365367370372374377379382384386389391394396398401403406408410413415418420422425427430432434437439442444446449451454456458461463466468470473475478480482485487490492494497499502504506509511514516518521523526528530533535538540542545547550552554557559562564566569571574576578581583586588590593595598600602605607610612614617619622624626629631634636638641643646648650653655658660662665667670672674677679682684686689691694696698701703706708710713715718720722725727730732734737739742744746749751754756758761763766768770773775778780782785787790792794797799802804806809811814816818821823826828830833835838840842845847850852854857859862864866869871874876878881883886888890893895898900902905907910912914917919922924926929931934936938941943946948950953955958960962965967970972974977979982984986989991994996998100110031006100810101013101510181020102210251027103010321034103710391042104410461049105110541056105810611063106610681070107310751078108010821085108710901092109410971099110211041106110911111114111611181121112311261128113011331135113811401142114511471150115211541157115911621164116611691171117411761178118111831186118811901193119511981200
2012 2013 2014 2015 2016e 2017e 2018e
Online Retail Sales of Imported Goods in China & Growth 2012-2018
Online retail sales of imported goods (bn Yuan)
% Growth of online retail sales of imported goods
% of online retail sales of imported goods to total onlinesales of imported goods
66
6
21.3 32.6 55.9 118.4 219.8 341.4 526.0 1,187.1
1,892.5
2,783.3
3,816.0
4,980.8
6,240.8
7,507.9
1.8% 1.7% 2.0% 3.1% 4.4% 5.5% 7.0%
-100.0%
-80.0%
-60.0%
-40.0%
-20.0%
0.0%
20.0%
022446688110132154176198220242264286308330352374396418440462484506528550572594616638660682704726748770792814836858880902924946968990101210341056107811001122114411661188121012321254127612981320134213641386140814301452147414961518154015621584160616281650167216941716173817601782180418261848187018921914193619581980200220242046206820902112213421562178220022222244226622882310233223542376239824202442246424862508253025522574259626182640266226842706272827502772279428162838286028822904292629482970299230143036305830803102312431463168319032123234325632783300332233443366338834103432345434763498352035423564358636083630365236743696371837403762378438063828385038723894391639383960398240044026404840704092411441364158418042024224424642684290431243344356437844004422444444664488451045324554457645984620464246644686470847304752477447964818484048624884490649284950497249945016503850605082510451265148517051925214523652585280530253245346536853905412543454565478550055225544556655885610563256545676569857205742576457865808583058525874589659185940596259846006602860506072609461166138616061826204622662486270629263146336635863806402642464466468649065126534655665786600662266446666668867106732675467766798682068426864688669086930695269746996701870407062708471067128715071727194721672387260728273047326734873707392741474367458748075027524754675687590761276347656767877007722774477667788781078327854787678987920794279647986800880308052807480968118814081628184820682288250827282948316833883608382840484268448847084928514853685588580860286248646866886908712873487568778880088228844886688888910893289548976899890209042906490869108913091529174919692189240926292849306932893509372939494169438946094829504952695489570959296149636965896809702972497469768979098129834985698789900992299449966998810010100321005410076100981012010142101641018610208102301025210274102961031810340103621038410406104281045010472104941051610538105601058210604106261064810670106921071410736107581078010802108241084610868108901091210934109561097811000
2012 2013 2014 2015 2016e 2017e 2018e
Online retail sales of imported goods (bn Yuan)
Online shopping GMV (bn Yuan)
% of online retail sales of imported goods to total onlinesales
Penetration of Cross-border Online
Shopping Was on the Constant Rise and
Reached 3.1% in 2015
Online retail sales of imported goods in China continued to grow, so did
its penetration in China’s online shopping market.
iResearch predicts the penetration will reach 7.0% by 2018.
Source: Based on the financial results published by enterprises, interviews with experts and iResearch’s statistical
model.
Penetration of Online Retail Sales of Imported Goods
in Online Shopping Market in China 2012-2018
77
7
B2C to Overtake C2C by 2016
C2C e-commerce sites represented by Taobao Global dominated
online retail sales of imported goods market in China from 2012 to
2015. Nevertheless, a large number of B2C e-commerce sites
swarmed into the market in the second half of 2014 following the
loosening of government policy. The share of B2C reached 46% by the
end of 2015.
iResearch believes that B2C model is still in the early growth stage and
thus boasts huge growth potential in the future.
Source: Based on the financial results published by enterprises, interviews with experts and iResearch’s statistical
model.
Note: The share of C2C and B2C is based on online retail sales of imported goods.
1.1% 1.5%
21.7%
46.0%
56.4%62.9% 65.8%
98.9% 98.5%
78.3%
54.0%
43.6%37.1% 34.2%
-230
-180
-130
-80
-30
20
0%
20%
40%
60%
80%
100%
% C2C % B2C
GMV Structure of China’s Online Retail
Sales of Imported Goods Market 2012-2018
88
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Legal Notice
The report is produced by iResearch Co., Ltd. All texts, figures
and tables in this report are under the copyright protection of
relative laws and regulations on intellectual property rights in
the Peoples’ Republic of China. No organization or individual
is allowed to use the information in this report for any
business purpose without the written consent from iResearch.
Some texts and data in this report are collected from public
information and their copyrights are held by the original
authors. No organization or individual is allowed to use the
information in this report for any business purpose without
written consent from original authors and iResearch.
Data related to operators’ revenues and market forecasts are
mainly obtained through interviews related to the industry,
marketing survey, secondary sources and other research
methods, some of which have not been directly confirmed by
the related operators. Some data published in this report is
based on sampling method and is therefore influenced by
sample structure. Due to the limitation of research method,
sample size and scope of data collection, part of the data may
not precisely reflect real market situation. This report is for
reference only and iResearch is not liable for the accuracy of
the data in this report.
About iResearch
Founded by Henry Yang in 2002, iResearch is a leading
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We help you unlock the power of the Internet with premium
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Table of Contents
1. Environment for the Development of Cross-border
E-commerce Retail Imports in China
1.1 Online Shopping and Import & Export Trade Market
1.2 Policies
1.3 Consumer Demand
1.4 Investments
2 Status Quo of Cross-border E-commerce Retail Imports
Market in China
2.1 Definition
2.2 Classification
2.3 Milestones
2.4 Industry Chain
2.5 Suppliers
2.6 Inspection & Quarantine
2.7 Logistics Model
2.8 Bonded Warehousing Model
2.9 Operations Models
2.10 Profit Models
2.11 Marketing Models
2.12 Market Size, Growth and Structure
3 Case Studies of Cross-border E-commerce Retailers in
China
3.1 Tmall Global
3.2 Kaola
3.3 Ymatou
3.4 Xiaohongshu
4 Trends of Cross-border E-commerce Retail Imports in
China
4.1 Policy Trends
4.2 Market Size Trends
4.3 Logistics Trends
4.4 Consumer Demand Trends
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