China's leading B2B cross-border e-commerce marketplace, DHGate reported it doubled its Gross Merchandise Value (GMV) over the Black Friday and Cyber Monday 2023 period, setting a breaking sales record for the platform.
The five-day sales event, strategically planned for the 2023 gifting season, saw an explosive transaction growth rate. This surge in sales was driven by two key groups: wholesale customers and cross-border retailers. Wholesale purchases alone saw a staggering increase of 120%, while transactions with cross-border retailers accounted for more than US$10 million in sales.
DHgate's success during this critical sales period can be attributed to its deep understanding of consumer behavior, which has shifted significantly due to global economic challenges and inflation. The company's commitment to providing genuine discounts played a crucial role in attracting deal-savvy shoppers. One of the standout promotions offered by DHgate was a US$4 discount for every US$40 spent on merchandise, with savings of up to US$40.
Consumer electronics and smart devices, including robot vacuum cleaners and smart electric scooters, were among the most sought-after items, propelling the category to the top of the sales charts. Fashion was another strong performer, with influencer collaborations helping to double core clothing sales month-on-month and achieve a more than 50% year-on-year increase.
There were a number of other popular items, too. Mobile phones and accessories' GMV growth tripled month-on-month and grew 2.5 times year-on-year. Home and lifestyle products increased fivefold month-on-month and tripled year-on-year.
Sportswear and fitness gear grew 3.5 times year-on-year, with particular success seen in the category of yoga apparel. Seasonal products such as winter jackets, footwear and outdoor winter sports clothes also contributed significantly to this year's GMV growth.
To ensure holiday packages arrive on time, DHgate has also upgraded its logistics services and support system to introduce new shopping perks such as guaranteed delivery within fifteen days and free shipping to the US, France, and Spain on certain products.
Founded in 2004, DHgate has become a powerhouse in the B2B cross-border e-commerce space, with over 34 million live listings annually. As of the end of 2022, the platform served more than 59.6 million registered buyers from 225 countries and regions, connecting them to over 2.54 million sellers in China and other countries.
