The minute the lockdown ended in China, the first things Chinese customers scooped up were handbags and shoes.
The minute the lockdown ended in China, the first things Chinese customers scooped up were handbags and shoes, according to Nancy Zhang, head of partnerships in New York for BorderX Lab, the cross-border e-commerce platform for American and European merchants to reach global Chinese customers.
As the beauty business began picking up, brands across the board performed. La Mer is the all-time best-selling brand on the platform, followed by Estée Lauder, Tom Ford, Chantecaille, Nars, and MAC, she said. They also do well with niche brands like Decorté, Pat McGrath, Hourglass, Smashbox Cosmetics, and Juice Beauty, which has a Goop collaboration.Eighty percent of BorderX Lab’s business comes from China.
Three to four weeks ago, business in China started to pick up as the quarantine began to come to an end, and life started to return to normal, she noted. “I have colleagues in Shanghai who say they’ve never been happier to be stuck in traffic because it means people are going out,” she said. In China, there are still strict laws around traveling, but she read an article Tuesday that showed that people are quickly starting to gather after they relaxed the quarantine laws.
While she hasn’t broken it down by cities, she said Wuhan, where the coronavirus originated, is still quite challenging because it’s difficult to deliver merchandise there. “What’s really interesting about our platform, we have the highest penetration from the second-tier Chinese cities than the first-tier cities, since first-tier cities have so many more options, when it comes to physical retail and e-commerce and brand recognition.
The way BorderX Lab makes money is they take a commission anywhere from 10 to 20 percent, depending on the product and the price point, she noted.
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