SHENZHEN, China--(BUSINESS WIRE)--Friday, March 16th in Shenzhen, China, the 2018 APEC SME Summit was held to address international traders as the industry transitions into digital trade. The summit was attended by DHgate, Google, Accenture, local government representatives, industry experts, and nearly 2000 Chinese SME exporters. During the summit, DHgate announced platform upgrades for the new era.
DIGITAL INDUSTRY UPGRADE
Founder and CEO of DHgate Diane Wang addresses the upgrade in a keynote speech, “The global trade environment is undergoing tremendous changes due to deep integration of technology and industry, a new trade era is coming where goods and services will be made visible, audible, touchable, sensible, and usable and foreign trade can be as efficient as domestic commerce.”
These changes greatly effect B2B marketplaces like DHgate, primary supply channels for retailers and wholesalers worldwide.
According to Frost and Sullivan:
- The global B2B e-commerce market will generate revenues of 6.7 trillion USD by 2020;
- B2B e-commerce turnover will account for nearly 27 percent of overall trade turnover;
Chen Hongyi, from Accenture delivered a keynote speech, explaining future business trends in the new global environment. As Internet and digitalization becoming main driving forces, new business models are incubated such as platform based international trading, through which even small businesses can buy globally and sell globally.
DHGATE TRADE UPGRADES
DHgate announced major upgrades to their platform:
Upgrade #1: DHgate will release an AI search function called ”smart match,” that will allow importers to search by uploaded images. The system identifies the product in the image and provides recommendations.
Upgrade #2: DHgate will upgrade their logistics system. Through the launch of overseas warehouses, logistics costs will be reduced by over 45%.
Upgrade #3: DHgate will expand their chain of localized wholesale storefronts called Digital Trade Centers (DTC), that were established in 7 countries in 2017. New DTCs will open in 2018 on 5 continents.
DHgate.com is the first to market and the biggest B2B cross border e-commerce marketplace in China, providing global importers with quality products at competitive prices. Founded in 2004, DHgate.com has approximately 14 million global buyers from 222 countries and regions, with 1.7 million global sellers offering 7.7 million products in 8 languages.