In the lead-up to Black Week, Swedish traders face unprecedented challenges due to the growing influence of Chinese e-commerce giants Temu and Shein. According to Salesforce, these platforms are projected to capture around $160 billion globally during Black Week and the Christmas shopping period, potentially claiming 21% of the market outside China.
Photo: Dreamstime.
A recent survey highlights that price is the primary factor influencing purchasing decisions for two-thirds of consumers, with only a third prioritizing quality. As a result, many price-sensitive shoppers are gravitating towards Chinese platforms, which offer lower prices compared to traditional retailers. This shift is so pronounced that 63% of global consumers plan to focus their shopping on these platforms during the holiday season.
In response, Amazon has adopted a new low-price strategy to counter the growing competition from Temu and Shein. Additionally, the EU is considering new customs duties to curb the influx of cheap imports, and Swedish Trade is debating stricter regulations on these Chinese giants' sales practices.
Source: www.ehandel.se