A Profitero study showed Target’s online prices were 25% more expensive than Wal-Mart’s, which were just slightly more expensive than prices on Amazon.
4PX, which has helped 30,000 Chinese retailers export goods to 60 million web shoppers around the world, now is helping overseas companies sell imported goods online in China.
A Chinese company that built its business helping Chinese companies sell online in other countries, now is helping foreign brands market their goods to Chinese online shoppers.
4PX information Technology Group, based in the southern China city of Shenzhen, says it has helped 30,000 Chinese e-retailers sell to 60 million online shoppers around the world since the company was founded in 2004. It has helped clients build 10,000 web sites, many in languages other than Chinese, including English.
Now 4PX is promoting a new service designed to make it easier for non-Chinese companies to sell online to Chinese consumers. To raise its profile, 4PX exhibited last week at the Internet Retailer Conference & Exhibition in Chicago.
“Our major business is to help Chinese consumer brand manufacturers and cross-border merchants build e-commerce sites, promote their sites through the online channel, and provide logistics services,” Steven Li, 4PX senior vice president, tells Internet Retailer. “But this year, we have started to strengthen our business of helping foreign e-retailers sell to China. IRCE is the largest e-commerce event in the world and we hope it will help us find more overseas partners and clients. ”
4PX has attracted about 200 foreign clients since introducing the China importing service two years ago. Most clients are in the U.S and Europe, and 4PX manages its own warehouses in those regions. For example, Li says, 4PX is helping merchants that sell on Amazon.com in the U.S to minimize the shipping cost of sending items to China. Retailers ship goods to 4PX’s warehouse in the U.S. and 4PX chooses the most efficient of 20 options for shipping to China. 4PX also provides marketing and fulfillment services, such as helping U.S e-retailers open stores in Chinese marketplace such as Tmall.com, which is operated by Alibaba Group Holding Ltd., the dominant e-commerce company in China.
The importing business has grown 1000% in the last year, Li says, and the company’s total business has grown 50% annually for the last several years. He projects the total value of sales the company will handle this year will reach 35 billion yuan ($5.65 billion) and company revenue will exceed 2.8 billion yuan ($451.2 million).
4PX has 1600 employees and has established partnerships with such leading e-commerce companies as Alibaba, Amazon.com Inc., Google Inc. and shipping carriers such as UPS, FedEx and DHL to help e-retailers sells products across borders.
Investors in 4PX include Asian courier company Singapore Post and U.S. venture capital company IDG Group, according to the company.