2024.10.15 GoodsFox Daily E-commerce News:
- 3 Days, $80K Revenue: Small Appliances Surge in Thailand
- Seaways Breaks Ground in Southeast Asia
- RMB Appreciates, Easing Cross-Border Costs
- Wildberries Eases Penalty Policies
- 62% of Consumers Want UGC for Product Insights
1. 3 Days, $80K Revenue: Small Appliances Surge in Thailand
YOTEX's 500W Multi-Function Blender is the latest sensation on TikTok Thailand. In just three days, sales reached 142,427 units, showcasing a rising trend for small home appliances. This blender's multifunctionality and powerful performance meet diverse kitchen needs, capturing the attention of Thai consumers. Leveraging TikTok’s targeted marketing and locally adapted product design, YOTEX has seen rapid market penetration in Thailand.
Source: GoodsFox
2. Seaways Breaks Ground in Southeast Asia
Seaways, a leading Chinese home-care brand, has made a strong impact in Southeast Asia, opening new doors for Chinese brands in the cleaning sector. Established in 2018, Seaways offers effective cleaning solutions tailored to Southeast Asian markets. Within three months, it has climbed to the top three in sales for its category. With a strategic mix of TikTok marketing, authentic storytelling, and precise ad placement, Seaways is tapping into growing demand. Seaways also connects with consumers through a seamless shopping experience on its independent website and global distributors via Alibaba’s International Station.
Source: GoodsFox
3. RMB Appreciates, Easing Cross-Border Costs
On October 14, the RMB appreciated 8 basis points to 7.0723 against the USD. This slight rise offers potential relief in procurement costs for cross-border e-commerce brands. Apparel and electronics brands, in particular, may benefit from savings on imported goods. The currency shift may prompt brands to optimize pricing strategies to remain competitive globally.
4. Wildberries Eases Penalty Policies
Wildberries announced that starting January 2024, it will refund fines and reduce reverse logistics costs for unsold items held in its warehouses over six months. Sellers can receive a 50% discount on these logistics fees. This update aims to lessen vendor burdens, with October 31 as the deadline for returning unsold items to personal lockers.
5. 62% of Consumers Want UGC for Product Insights
A recent survey revealed that 62% of global consumers prefer using user-generated content (UGC) to evaluate product quality. UGC includes user reviews, videos, images, and other authentic media shared by customers. With 40% of British and American consumers considering UGC crucial to purchase decisions, brands should strategically use UGC on high-engagement platforms.
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