Cross-border e-commerce websites are looking at Black Friday as an opportunity to bring overseas products to Chinese consumers, industry officials said on Wednesday, Nov. 18.
The Shanghai Daily reported that Ymatou, a cross-border e-commerce site, planned to invest "several million yuan" to promote overseas products and offer online coupons for Black Friday sale next week. The company said they could directly ship the ordered products to China within three to five days on average.
"Cross-border e-commerce has to meet various demands of consumers, instead of only milk powder and health-care products," Zeng Bibo, chief executive of Ymatou, said. The startup has raised more than $100 million in its latest round of financing in January, the report said.
Zeng added that their company can meet the different demands of consumers as they sell 400,000 products that include fashion, food and sports sectors from 35 countries and regions.
Amazon China launched a marketing campaign on Wednesday, Nov. 18, to promote Black Friday sales. The company said they would allow consumers to use local logistics and payment methods for overseas products purchased during the sale.
A survey conducted by PayPal released on Nov. 18 showed that more than 35 percent of Chinese consumers are set to buy products through cross-border websites this year, an increase from 26 percent in 2014.
Held in the U.S. every fourth Thursday of November, Black Friday is the Friday following Thanksgiving Day. Like the Singles' Day, Black Friday is seen as a shopping event where American consumers get to buy products on discounted prices.