Pentagon held their second Fashion Without Borders event today, and if you missed it make sure you book for the next one. Whilst the event focuses on cross border expansion for fashion retailers, the depth and breadth of the marketplaces covers is a real eye opener and any retailer regardless of vertical, who is looking at cross border trade opportunities would find the day valuable.
The day kicked off in China with a presentation from JD.com, the largest direct retailer in China who also have a marketplace swiftly followed by a stop over in the Middle East and North Africa with MarkaVIP and straight over to India for a run down on Flipkart.
From then on the day was a blur of marketplaces, statistics and panel session from experts who could help with everything from localisation to financial risks, legal barriers and international shipping. More marketplaces followed including eBay, La Redoute, Spartoo, Privalia, MercadoLibre, Myntra, Lazada, Modnakasta and Allegro.
For anyone who’s thinking of expanding overseas, Pentagon excelled themselves by presenting opportunities and support with a range of opportunities second to none. Not only that but all of the vendors stayed for the networking sessions and drinks reception give plenty of one-on-one time for attendees who wanted to find out more.
The day covered a dozen marketplaces, many of which I’m embarrassed to say I’ve never heard of before, but don’t worry we’ll be covering them all on Tamebay over the coming weeks. To give you a flavour of the reach of the marketplaces introduced to Fashion Without borders attendees they covered:
European B2C ecommerce sales increased by 14.3% to reach €423.8 billion in 2014.
The UAE beads B2C ecommerce growth in the Middle East, followed by Saudi Arabia and Qatar.
Flipkart, India’s biggest ecommerce company will be an app-only platform by the end of 2015.
Cross-border trade accounts for 15% of the Russian ecommerce market, with the segment growing at a rate of 5-% per year.
90% of all Chinese ecommerce transactions are completed through online marketplaces.
South East Asia
IN South East Asia, fashion ecommerce sales are set to reach up to $14 billion by 2018.
$989 million is spent by New Zealanaders on website based overseas with the USA, Australia and the UK being the most popular.
Nigeria’s ecommerce market is estimated to grow by 25% annually.
It is predicted that retail ecommerce in Brazil will increase from $17.8 billion in 2014 to $30.2 bilion in 2019.