LOS ANGELES, Nov. 10, 2015 /PRNewswire/ -- Hundreds of US retailers have found tremendous growth by tapping into the Chinese market without actually "entering" China. US retailers reach new Chinese customers with targeted coupons and discounts on marketing websites like 55Haitao.com, China's largest cross-border ecommerce forum and comparison shopping site.
"We saw demand for baby products and vitamins when we started four years ago, and it's amazing to see no signs of it stopping in all categories," says Alan Gu, CEO of 55Haitao. The company recommends products to its users in all categories from health and wellness to high fashion. In 2014 they tripled their previous year's revenue for affiliated retailers and 2015 is showing the same upward trajectory for the marketing giant.
In the US, $4 billion in ecommerce revenue was reported from Black Friday to Cyber Monday of 2014. In China, the largest retailers reported $9 billion in revenue on just one day: Single's Day.
While once just a holiday for the lonely, November 11—known as Single's Day in China—is now the largest shopping holiday there and the biggest event annually for 55Haitao. This year 55Haitao has more than 100 ecommerce retailers participating in the event. Drugstore, Estee Lauder, Origins, Walgreens, 6PM, Carter's, Bloomingdale's, Sak's Fifth Avenue, Lookfantastic, Ashford, and Neiman Marcus are some of the many brands that have signed on with exclusive coupons and offers targeted at 55Haitao's massive Chinese audience.
In a debate on 55Haitao's forum about which holiday users prefer, the vast majority prefer Single's Day over Black Friday. User "Kuaile Dabenying" says, "I'm definitely going to buy on Single's Day, I'm just not too sure about Black Friday. For me it's Single's Day!" Brands hoping to reach Chinese customers target them with promotions on Single's Day. Chinese customers are comfortable with this holiday and budgeting for it.
While US brands may not be keen on setting up shop in China, this year more than previous years they are adjusting for Chinese culture to reach high-spending shoppers there.
About: 55Haitao is China's largest forum and shopping guide for Chinese cross-border shoppers. Unique content created in Chinese is published in their blog feed at 55Haitao.com, in a forum with tens of thousands of new posts daily, and published weekly to WeChat subscribers. With 90% of its traffic originating from China, 55Haitao helps retailers worldwide reach a Chinese audience easily.
Contact: Rick Parada, pr@55Haitao.com