China's foreign trade showed a steady and positive trend in the first half of this year, with the growth rate of import and export still up 22.8%, according to foreign trade data released on July 13. Among them, the import and export of cross-border e-commerce continued to maintain a good momentum of development. In the first half of this year, China's cross-border e-commerce imports and exports reached 886.7 billion yuan, up 28.6% year on year, of which exports reached 603.6 billion yuan, up 44.1%; Imports were 283.1 billion yuan, up 4.6%. At the same time, data analysis from Dunhuang shows that the overall trend of overseas consumption changed in the first half of 2021, showing a shift from "house economy" to "outdoor economy".
"Consumption trends in major countries in Europe and the United States continue to improve due to the easing of the epidemic. Influenced by summer travel, important sports events and other factors, the consumer trend of cross-border e-commerce in the first quarter also changed from a 'home economy' to an 'outdoor economy' in the second quarter, and the sales of products related to vacation travel increased greatly." Luo He, category director of Dunhuang Net, said that in the first half of this year, affected by all kinds of overseas stimulus measures, Dunhuang Net platform to lighting, toys, gifts, health and beauty, household appliances, home garden and other categories of sales have achieved rapid growth.
Luo He said that in the second quarter, overseas consumers have been depressed for a long time outdoor economic consumption enthusiasm quickly picked up, shoes and clothing, sunglasses, outdoor sports and other categories of transactions are in the United States, the United Kingdom, France, Italy and other mainstream European and American markets top 10. The turnover of all kinds of holiday party supplies increased significantly in the first half of the year, with party gifts up nearly 6 times, top hats up nearly 3 times and balloons doubling. Consumers are even preparing for the holidays in the second half of the year, with sales of Christmas decorations up 265 percent in the first half from a year earlier.
It is worth mentioning that the category of toys rose to a sudden rise, among which pressure relief toys became the most "explosive" products in 2021. In the short term, the transaction volume increased sharply, and in the first half of the year, the year-on-year growth was more than 13 times. The performance of educational toys was brilliant, with a year-on-year increase of more than four times, which is speculated to be related to the postponement of the resumption of classes in overseas schools and the extension of stay at home for younger students. All kinds of plush figures and plush toys around animation and film are also popular, which has nearly doubled the growth of last year.
Luo He continued to analyze that in addition to the overseas buyers will continue to pay attention to household supplies, as the epidemic has improved, will also begin to supplement outdoor supplies. In the first half of the year, the growth point of cups and other categories, which performed well, began to shift to outdoor products such as accompanying cups and kettles. In addition, the service of light customization is also well received by overseas consumers. It is suggested that sellers expand relevant service capabilities. Other categories expected to break out in the second half of the year include home appliances, furniture, 3C electronics, health and beauty, and pet products.
In addition to changes in consumer trends, developments in logistics continue to be of concern to companies. Wan Song, head of DHLINK Business Department of Dunhuang Network, said that in the first half of this year, cross-border e-commerce logistics capacity continues to be tight, because the destination port processing capacity is insufficient and other problems, leading to the continuous rise of freight, mainly in the final cost, labor cost rise and other aspects.
"For example, in the second quarter, the cost of shipping from China to the United States more than tripled from the first quarter, and prices rose sharply." Wansong analysis that although the epidemic can be further controlled, but the industry will enter the traditional peak season in September, transport capacity will continue to appear tense situation, is expected to logistics market freight will continue to rise in the second half of the year. The US line and the European line, two major export markets of international trade, are still in short supply of space and the logistics price remains high. In this regard, he suggested that sellers should make shipment plans in the second half of the year in advance. In the relatively stable window period of the third quarter, the categories suitable for overseas warehouses can be prepared in advance to overseas warehouses to alleviate the impact of freight rise in the fourth quarter.