Chinese e-commerce companies are relentlessly waging a global market share war. As of January, seven of the top 10 global e-commerce applications for monthly users were Chinese companies or had Chinese capital invested.
According to the Nikkei on the 11th, a study by U.S. research firm Sensor Tower showed that Sea’s Shopee in Singapore topped Amazon in the United States in terms of the world’s monthly users of e-commerce apps (the number of people who opened the app at least once a month) in January. It is noteworthy that Shopee, a Southeast Amazon with Chinese capital, has surpassed the original Amazon. The largest shareholder is China’s Tencent, with a 20.08% stake.
The influence of Chinese companies or e-commerce companies with Chinese capital is growing. 7 of the top 10 global apps are Chinese, accounting for 26% of the world market share. China’s Temu ranks 4th globally and offers services in about 50 countries just 18 months after its launch, ranking first in France, Germany, and the UK. It is also second in the United States, known as the “Amazon Kingdom.” Shein, widespread among the younger generation in North America and Europe, ranks 5th globally.
These companies are rapidly eroding the South Korean market. According to the app and retail analysis service company WiseApp Retail Goods, the number of monthly active users (MAU) of the AliExpress app last month was 8.18 million, surpassing 11th Street and ranking second. Temu’s MAU also recorded 5.81 million, surpassing Gmarket and jumping to fourth place. Two of the top five companies are Chinese e-commerce companies. Experts unanimously say that for South Korean e-commerce companies to survive, they must establish a strong partnership with manufacturers and sellers. They also advised activating direct overseas sales and diversifying the market while supporting overseas market development for domestic small and medium-sized manufacturers.
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