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Chinese companies look to ride a new cross-border e-commerce wave driven by the coronavirus

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Amid trade tensions and the coronavirus, some Chinese companies are tapping a new growth opportunity in online shopping.

That estimate came before the coronavirus pandemic, which has since accelerated demand for online shopping due to widespread stay-home orders.

For example, Chinese household and consumer goods chain Miniso said it's kept to a plan to release 100 new products every seven days even as it has shifted much of its business online in the wake of the coronavirus pandemic. Even with the economic shock of the virus, American consumers are buying. What used to be typically $12 spend per customer at a physical store is now $60 to $70 in an online order, said Vincent Huang, vice president of Miniso's international business department.

In addition, persistent uncertainty around U.S.-China trade tensions is pushing Chinese businesses to look at different markets – and different platforms.

 

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