Temu Surpasses AliExpress to Become the Second Largest Cross-Border E-Retailer

In today’s rapidly evolving e-commerce landscape, the latest 2024 IPC Cross-Border E-Commerce Shopper Survey sheds light on the experiences, preferences, and expectations of online cross-border consumers. The survey collected insights from an impressive 31,000 participants across 37 countries spanning the Americas, Europe, Asia, and Oceania.

Consumer Shopping Trends on the Rise

According to Holger Winklbauer, the CEO of IPC, “The 2024 Cross-Border E-Commerce Shopper Survey indicates that most consumers are maintaining or even increasing their online shopping activities compared to the previous year. The results also suggest that e-commerce stakeholders have successfully met consumer demand for faster and more affordable delivery options.” 📦

Revival of Online Sales from China

After several years of decline, China’s share of online sales is projected to increase by 7% in 2023 and continue to rise by an additional 3% in 2024. This growth is largely driven by two e-retail giants: Temu and Shein.

Shifts in Export Shares Across Major Regions

In 2024, Germany is expected to see a 2% drop in export share, while both the United States and the United Kingdom will witness a 1% decline. Notably, France will maintain its existing share during this period.

Temu’s Rapid Ascent in the E-Commerce Market

Amazon continues to lead as the primary e-retailer for cross-border online consumers, holding a steady 24% market share. However, Temu has dramatically surged to second place with a 21% share, up from just 7% in 2023, while AliExpress has fallen to third place with a 10% share, down from 16% the previous year. Shein closely follows with a consistent 9% share as recorded in 2023.

Conclusion

The shifting landscape of cross-border e-commerce highlights the growing influence of platforms like Temu and Shein, signifying a notable shift in consumer preferences and shopping behaviors. As retailers adapt to meet the demand for efficient delivery options and competitive pricing, the future of online shopping will continue to evolve. 🌍

Stay tuned for more insights and updates on the dynamic world of e-commerce!