Human beings can no longer stop Chinese tourists from “taking over the earth”. In foreign countries, Chinese tourists are called “walking wallets.” China’s GDP growth rate was 6% in 2015, while outbound tourism spending grew at a whopping 53%. 80% of sales at Lotte and Shilla duty-free stores in Seoul come from Chinese consumers.
Why do people go abroad to travel and shop, and why do they do overseas shopping? Consumers always follow three things: price, quality, and service experience. As an established fact, regardless of patriotism, demand is the primary driving force of the market. The reasons are obvious: domestic supply cannot meet demand, frequently questioned food safety and counterfeit issues, pricing discrimination by international brands and China’s higher tariffs and turnover taxes, as well as the increase in residents’ income and consumption upgrades drive demand for overseas high value-added and diverse products. commodity demand.
According to data from the Ministry of Commerce, the number of Chinese outbound tourists reached 120 million in 2015, and overseas consumption was 1.5 trillion yuan, half of which was spent on shopping. It ranked first in the world in terms of scale and maintained a growth rate of more than 20%. , average overseas travel accounts for 25% of their annual personal expenses. In 2015, Chinese consumers’ global luxury goods consumption reached US$116.8 billion, buying 46% of the world’s luxury goods, and 76% of their consumption occurred overseas.
In addition, based on overseas shopping APP statistics, from the perspective of consumption preferences, overseas shopping users have a relatively high demand for improving the quality of life, and have a strong demand for overseas products such as maternal and infant products, food, cosmetics, etc., and they are also relatively They tend to prefer European and American mass, fashion and high-end brands, and women account for about 60%. According to PayPal’s estimates, China’s per capita overseas shopping amount increased from 12,000 yuan to 27,800 yuan from 2013 to 2018, with a compound annual growth rate of 18.28%.
Such as this, seeing such huge demand traveling abroad, attracting the return of overseas consumption has become an important direction for expanding domestic demand. The government strives to make cross-border e-commerce for export more transparent and has to advance and take advantage of the situation. The opening of channels has further released demand. Cross-border e-commerce consumption habits have gradually formed, cultivating a younger, highly educated, and predominantly female overseas shopping group. The upgrade of demographic dividend is the awakening of middle-class consciousness in the consumer field.