DHgate Launches MyyShop to Build a Decentralized Ecosystem

By AIT News Desk On Sep 21, 2020

Enable overseas newbies to tap into cross-border e-commerce easily

The pandemic continues to spread, international trade shrinks sharply, and the local economy is severely damaged, directly impacting many most vulnerable small, medium and micro enterprises and individuals worldwide. However, cross-border e-commerce, particularly the decentralized cross-border e-commerce, has brought new forces to the global trade and e-commerce industry, providing them a solution to weather the storm.

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DHgate, one of the leading B2B cross-border e-commerce marketplaces in China, officially launched MyyShop, a new Software-as-a-Service (SaaS) product for decentralized cross-border e-commerce. It creates a unique decentralized ecosystem in global trade, enabling everyone to participate in international trade easily. The decentralized e-commerce model is a consumer-centric ecosystem combining e-commerce infrastructure and multiple private domain channels, such as Facebook, Instagram, WhatsApp, TikTok, and offline stores.

MyyShop provides one-stop convenient and smart tools and services with a focus on two businesses – online store creation and advanced dropship services for private domain traffic monetizers or social commerce influencers. Those dropshippers hold massive fans or groups, but they are newbies to e-commerce without relevant capabilities to monetize the traffic. The biggest challenges for them lie in finding suitable products, arranging logistics, and providing after-sales services. MyyShop solves these challenging obstacles, offering rapid website creation, strict supplier selection, AI-based product recommendation, smart finance, dropshipping, local delivery, full-channel logistics services, 24/7 customer support, and worry-free after-sales services.

Users can quickly build their online websites or seamlessly connect products on MyyShop to their existing stores on Shopify and eBay quickly. When resellers receive orders from customers, they pay the wholesale costs, and sellers dropship orders directly to their customers. The AI-based product recommendation function can introduce products with higher profit and more popular for end customers. Smart logistics can provide the most cost-effective logistics solution for customers.

With the booming decentralized shopping scenarios such as independent websites, social media communities, and live streaming, decentralized e-commerce has rapidly grown. Everyone in the world can become a scenario to tap into social commerce opportunities, especially those with substantial private domain traffic. With more resellers joining dropshipping business, the global dropshipping market size is expected to reach US$557.9 billion by 2025, recording a CAGR of 28.8% growth from 2020 to 2025, according to Grand View Research. With the increased penetration of e-commerce during the pandemic, the decentralized e-commerce will record considerable growth in the overseas market.

In order to enable more people to participate in the new model of international trade and minimize the impact of the pandemic on them, MyyShop launched the “Global Partnership Program” to develop local agents worldwide. The program includes the full capacity building of decentralized cross-border e-commerce, including e-commerce, logistics, finance, technology, and marketing. It also provides exclusive rights, such as crucial product free trials.

Diane Wang, founder and CEO of DHgate, said, “We are excited to launch this product. MyyShop connects China’s powerful supply chain with global private domain traffic monetizers or influencers, helping overseas dropshippers to serve their local customers. Such an ecosystem built with social networks connects every function of international trade, empowering every role of the supply chain.”

A win-win global inclusive growth model

Under the uneven international trade, cross-border e-commerce trade has become an indispensable part of it. According to China Customs’ data, in the first half of 2020, China’s overall trade in goods decreased 3.2% year-on-year. However, cross-border e-commerce imports and exports have grown against the trend, export volumes via cross-border e-commerce platforms, under the oversight of customs authorities, increased by 28.7%. China’s governments have rolled out favorable policies to promote this industry at the national level, including the newly launched customs pilot districts for cross-border e-commerce B2B export.

In this context, the launch of MyyShop is at the right time. Its concept of enabling everyone to participate in global trade and empowering locals to serve locals, creates a new model for a win-win global inclusive growth. It can fully activate the entire industrial chain of the international supply chain and promote employment at a global level. It is also vital to Chinese manufacturers, Chinese brands, and traders, providing them with new channels and new tools and connecting them with a vast potential market.

Andy Quan, deputy editor-in-chief of 36Kr, said, “The overseas B2B e-commerce industry is still a blue ocean market with a huge growth rate. Based on DHgate’s 16-year experience in the supply chain, fulfillment, and customer acquisition, MyyShop can tap into this fast-growing market.”