Chinese tech companies push into the U.S. and Europe's needs set up a potential disagreement with Amazon

Chinese tech companies push into the U.S. and Europe's needs set up a potential disagreement with Amazon

November 2, 2022: Pinduoduo and TikTok owner ByteDance launched e-commerce websites overseas in the previous few months as they aimed to take a crack at selling Chinese products to foreign buyers.

The move sets the two Chinese technology up on a collision path with Amazon as they expand internationally.

Pinduoduo, one of China’s e-commerce businesses, launched a U.S. shopping site called Temu in the previous month, selling products in categories from fashion to sports and electronics.

Weeks later, ByteDance, the Beijing-headquartered owner of the short video app TikTok, launched a fashion website named If You. It is currently shipping to the U.K., Spain, Italy, Germany, and France.

Both firms are looking to replicate the success of Shein, the Chinese fast fashion brand that stands reportedly worth $100 billion and has found the most extensive customer base in the U.S. and elsewhere.

ByteDance and Pinduoduo again rely on cross-border e-commerce, selling Chinese goods to overseas consumers. The U.S. and European markets also present an opportunity for growth.

The push abroad comes at a period when tech giants in China are looking for new avenues of growth. Due to Beijing’s strict Covid control policies and deteriorating global macroeconomic environment, the household economy continues to face challenges.

“I think ByteDance and [Pinduoduo] are taking away an opportunity to apply their unique social commerce innovations” to overseas needs, Jacob Cooke, CEO of WPIC, an e-commerce tech and marketing company helps foreign brands market in China, stated.

Posts You Might Like
Summary
Chinese tech companies push into the U.S. and Europe's needs set up a potential disagreement with Amazon
Article Name
Chinese tech companies push into the U.S. and Europe's needs set up a potential disagreement with Amazon
Description
Pinduoduo and TikTok owner ByteDance launched e-commerce websites overseas in the previous few months as they aimed to take a crack at...
Author
Publisher Name
The Women Leaders
Publisher Logo