On November 12th, Tmall announced regional data for this year’s Double 11 shopping spree: Sichuan province recorded spending of RMB20.4 billion, ranking 8th among all provinces in China, and sales of RMB7.89 billion, a striking performance.
Shopping data for the annual shopping festival cover both domestic and overseas goods. Hardcore online shoppers have long been familiar with cross-border e-commerce, which has made huge progress in only a few years with well-matched rivals and participation of e-commerce giants. As a new mode of foreign trade, cross-border e-commerce has enhanced the growth of industries and consumption, and will serve as a pioneer in efforts to build Chengdu into an international consumption center, said Xing Xiaogang, director of the Chengdu Cross-border E-commerce Association.
Given the current pandemic, more effective measures are needed to tap the full potential of the market. How to better the consumption experience? Can more new consumption needs be created? 2020 Cross-border E-commerce Service Resource Convention, organized by Chengdu Commerce Bureau in Chengdu on December 11, will address these pressing issues. Renowned cross-border e-commerce platforms, enterprises and cross-border e-commerce service providers will be invited to the event. Moreover, the First Chengdu Hi-Go Shopping Festival will be held at Chunxi Road Square from December 11 to 16.
For Chengdu, spending power is always visible. Xing said Chengdu has established a complete ecosystem after years of development of the Chengdu cross-border e-commerce comprehensive experimental zone. The Cross-border E-commerce Service Resource Convention and a series of activities are to integrate cross-border e-commerce resources in and out of Chengdu, create a favorable development atmosphere, empower industries, improve industrial systems, facilitate consumption upgrade, further drive the development of traditional industries and spur exports.
Experts, scholars and enterprise representatives will be invited on convention to exchange views and offer insights on brand promotion, retailing scenarios, cross-border payment and other hot topics from a practical perspective. The convention will help domestic brands and factories find matching overseas service resources and invite related enterprises for promotions and face-to-face communication.
“Scenario is a very important element in the Internet field. Without a scenario, there will be no spending. Chengdu grasps this keyword and consequently raises consumption,” said Huo Zhongyan, founding partner of Whales Capital and the investor behind Internet sensation Li Jiaqi. The First Chengdu Hi-Go Shopping Festival is dedicated to building cross-border e-commerce consumption scenarios. Online and offline promotions will be launched with the participation of more than 60 enterprises, including traditional commercial entities, cross-border e-commerce platforms and brands, and traditional foreign trade-oriented enterprises which have shifted their priority to domestic sales.
In fact, Chengdu government work report for this year set forth that in 2020, Chengdu should implement new consumption-led action to boost domestic demand, stimulate new economic momentum, release new consumption vitality with new economic modes, and boost the building of an international consumption center. All the signals reflect “action power” of Chengdu. “Cross-border e-commerce and other new business formats have become an important force in reshaping the future global commodity trading methods and economic structure.” In their opinions, the next step is to give full play to the leading role of consumption in Chengdu and strengthen the kinetic energy of brand-name products of Sichuan for “inner circulation”, and pave a going-global channel of “buying in Sichuan and marketing to the world” to contribute to “dual circulation”.