2023 was a year of “braving the rapids” for Chinese merchants going Tuke. According to the “China Cross-border E-commerce Enterprises Tuke Development Blue Book (2024)”, in 2023, China’s cross-border e-commerce export volume reached 1.83 trillion yuan, a year-on-year increase of 19.6%.
The surge of this wave of Tuke is accompanied by profound changes in consumer trends in overseas markets, and these changes are bound to continue shaping overseas business opportunities in 2024.
On one hand, we see that the habits, preferences, and trends of overseas consumers are beginning to show characteristics of diversification, fragmentation, and segmentation. Consumption decisions penetrate down to the individual level, and consumption has become a way to express self-pleasure, interests, and novelty. In this accelerated cycle of global economic fluctuations, consumption upgrading and downgrading are intertwined, and overseas consumers have a strong willingness to try new and good products, which drives the emergence of new brands and new channels.
On the other hand, we also see that, along with profound changes in lifestyles and economic environments, overseas consumers are beginning to find their own authenticity worth focusing on from a diverse world, focusing on suitable lifestyles, focusing on their own value judgments, and focusing on their favorite consumption trends. This series of changes in overseas consumer psychology and behavior also calls for merchants Tuke to promptly adjust their strategies and respond to changes.
