Ali International Station Reports Rapid Growth in Digital Foreign Trade
July 17, 2023
In a recent semi-annual report on digital foreign trade, Ali International Station revealed that digitization has become the prevailing trend in various export industries and foreign trade markets. The report showcased remarkable growth in online exports and increased online traffic in the first half of the year.
Ali International Station noted that 90% of the industries’ online exports experienced significant growth, while 91% of overseas markets saw an increase in online traffic. This growth was observed not only in emerging markets like Southeast Asia but also in traditional foreign trade markets such as Europe and the United States.
Qin Fen, head of the industry and merchant business at Ali International Station, attributed this trend to the adoption of new technologies, which have resulted in a shift in overseas companies’ purchasing habits towards online platforms. “Digital foreign trade has become an essential aspect of global trade and an irreversible trend,” Fen stated.
The digital foreign trade semi-annual report also highlighted the eight hottest models predicted for the upcoming procurement festival in September, the peak season for foreign trade in the second half of the year. Apart from the “new three items” such as new energy and electric vehicles, there is increasing demand for high-tech machinery and equipment such as customized printers, laser cutters, and excavators.
According to the General Administration of Customs, China’s cross-border e-commerce exports saw a year-on-year increase of 19.9% in the first half of the year. This growth has played a significant role in maintaining the overall growth rate of foreign trade exports and fostering a more robust structure. The emergence of new technology-driven B2B digital foreign trade platforms continues to drive explosive growth in foreign trade.
Notably, the online export of cars has become a prominent development. Ali International Station reported a fivefold increase in online demand for new energy vehicles and a 257% surge in demand for golf carts compared to the previous year. Furthermore, the demand for machinery and equipment, home improvement materials, clothing, consumer electronics, and sports and entertainment has soared due to increased demand for overseas infrastructure, home renovation, and outdoor sports.
Additionally, based on observations of the US retail market and platform insight analysis, Qin Fen anticipates that the keywords that will attract consumer interest in the second half of the year will be “beauty,” “health,” “simplicity,” and “exquisiteness.”
For instance, in the clothing industry, consumers are seeking products with unique designs, comfortable fabrics, and items that reflect their individual temperament. Retro-style and personalized men’s clothing is expected to be in high demand during the latter half of the year, along with clothing incorporating trendy elements that appeal to a wider market.
The first half of the year witnessed a significant surge in purchasing demand for pet outdoor travel. Qin Fen predicts that in the second half of 2023, the demand for pet products will focus on “smart, environmentally friendly, beautiful, and multi-functional” products.
Furthermore, smart appliances, wearable technology, and products related to healthy living are expected to be popular, including smart watches, fast charging chargers, hair dryers, and fruit and vegetable blenders.
In the non-consumer goods sector, the keywords “innovation” and “energy saving and environmental protection” will be key drivers in the second half of the year. Trucks and excavators will continue to be in high demand, and the sales of electric vehicles and auto parts are expected to remain strong. Consumer solutions related to new energy products will receive heightened attention.
With the rapid growth of digital foreign trade and the increasing reliance on online platforms, businesses should adapt to these evolving market trends to effectively cater to the demands of both domestic and international customers.