Newegg launches innovative tools to increase sales and enhance consumers’ lives
Newegg has been making major strides in terms of global expansion over the past year. We asked Sophia Tsao – Vice President, Newegg Global Marketplace – how the company is progressing in this respect.
Cross-border ecommerce is no longer just a market trend, but is becoming a viable business opportunity for sellers. This is really the future of ecommerce. Newegg recognised that sellers needed a partner who understood global markets, who can create a selling solution that can be easily adopted and scaled, and who can provide a level of personal attention and advice to sellers while they navigate through the complexity and challenges of selling cross-border. In June of this year, Newegg Global, our latest marketplace selling programme, opened up a site enabling our sellers to reach customers from 50 countries, including Asia Pacific, Europe, Latin America, and the Middle East. Global customers can access over 45 million products on the Newegg.com site, and this has helped our sellers convert millions in cross-border sales in Newegg Global’s first full month of operation.
You have also announced a major cross-border trade initiative giving European vendors new access to China. Can you please tell us more about this?
The ttHigo app and ttHG.com, is a China-facing premium shopping destination created to meet the growing market demand for authentic, branded products in categories such as home automation, health and wellness, beauty, fashion, electronics and latest tech products from customers in China. Targeting elite consumers, ttHigo delivers the security and comfort of a localised shopping platform, while providing access to authentic, branded products delivered through reliable, world-class cross-border fulfilment. ttHigo, ttHG.com is an invite-only platform within Newegg Global Marketplace. The programme presents a unique opportunity for European brands and sellers to reach a growing consumer base in China who are actively looking for European branded products that may be difficult to find locally or have higher price points. For existing Newegg marketplace and newly approved sellers alike, China market can be accessed through one single seller account which will also allow seller access to over 50 new markets as well, with a flat commission rate of 15% for all categories, and no additional costs.
What are Newegg’s global ambitions for the coming years?
E-commerce as a whole is transforming faster than ever. More companies are realizing that to be successful in cross-border, one needs the right partners that offer a strategic and tailored approach, enabling sellers to establish and scale their business quickly. In the next few years, we want to become that partner for all brands and sellers to rely on for their business expansion into new markets. We aim to improve and optimise our Newegg Global selling programme to be more seller-centric, expand the global footprint of Shipped by Newegg, our cross-border shipping service, and expand market coverage to even more countries.
In parallel to that, it’s important to deliver on customer promises such as a 30-day satisfaction guarantee, access to authentic, branded products from around the world, first-to-market availability on selective, innovative products unique to Newegg Global, and a truly localised shopping experience, with fast checkout, secure and familiar payment, local customer service and return processing.
What is your “message” to the professionals attending IFA this year, and who are you looking to meet?
Newegg is looking to meet with brands, retailers and existing marketplace sellers who are ready to take-on new markets.
Global e-commerce is expected to maintain double-digit growth through 2020, when sales will top US$4-trillion. Indeed, while we are a US retail platform, we realised there was an incredible opportunity for customers from around the world, because through cross-border e-commerce, they could access a wide array of products at competitive prices. This was a business opportunity we wanted to be a part of, and one we wanted our sellers to able to take advantage of as well. For any marketplace sellers looking to scale their business, assessing global markets outside of their own is definitely an area deserving serious consideration.
Photo: Sophia Tsao,Vice President, Newegg Global Marketplace.