Crossborder shopping from China increased by 120% in the second quarter of this year. Analysts say that demand for crossborder shopping is flocking to the Chinese platform with fast delivery and low prices.
According to the "Online Crossborder Sales and Purchase Trends in the 2nd Quarter of 2023" released by the National Statistical Office on the 1st, online crossborder shopping amounted to 1.635 trillion won in the 2nd quarter, up 25.6% from the same quarter last year.
By country, crossborder shopping from China increased 120.7% year-on-year to 777.8 billion won. Crossborder shopping in the U.S. fell 8.3% year-on-year to 469.6 billion won, the survey showed. Earlier in the second quarter of last year, the U.S. crossborder shopping amount (512.3 billion won) was ahead of China (352.4 billion won), but the ranking was reversed due to the rapid growth of Chinese crossborder shopping. China's fastball share is 47.6% of the total, almost half of it. Crossborder shopping from Japan increased 13.5% year-on-year to 117.7 billion won, while crossborder shopping from the European Union and Britain fell 22% to 210.6 billion won.
By item, clothing and fashion-related products accounted for the largest portion with 756.7 billion won. Food, food, and household and automobile goods followed with 92.7 billion won, respectively.
Crossborder ecommerce sales in the second quarter were 453.6 billion won, down 10.3% from the same quarter last year (506 billion won). Compared to the previous quarter (283.9 billion won), it increased by 59.8%. Direct sales to China accounted for the largest portion with 309.2 billion won, down 10.3% from the previous year. Direct sales in the U.S. increased 14.5% to 60 billion won, while Japan decreased 17.7% to 50.5 billion won.
An official from the National Statistical Office explained, "Crossborder shopping of clothing and fashion-related products have increased significantly, especially in China," adding, "The increase in crossborder shopping in Japan is attributed to a large exchange rate factor."
