Hong Kong-based global shipping platform Buyandship has announced that it will be partnering with local merchants to facilitate their expansion into the overseas markets. The company’s first partner will be Yoho, an online shopping platform for electronic products in Hong Kong. Partnerships with Buyandship will help local businesses open up a new channel for their sales and it will help consumers gain access to overseas quality products.
“We believe the local merchants can benefit from this collaborative effort to explore the potential of overseas markets, and for us, this can serve as a foundation for us to gain more market share too. From our experience, after just 1 month of the beginning of the partnership, we have had a 1,000% growth on overseas orders,” said Yoho Franz Wu, Chief Executive Officer of Yoho.
Since its founding in 2014, Buyandship has established its name as a global player in the e-commerce logistics industry. The company claims that as of Q1 2021, the company has a membership base of over a million in Asia and has delivered items with a total worth of roughly $592 million (HK$4.6 billion).
The company sees a lot of potential in the cross-border e-commerce space. In an interview with TechNode Global in March 2021, Buyandship Co-Founder and CEO Wilson Chan went deeper into the different opportunities in the space and the challenges that Buyandship plans to address. “With continuous data analytics, business insights could be interpreted in a timely manner and can thus react and change according to the user behaviors much faster. This is also beneficial to merchants for the best decisions on how they can expand their overseas businesses,” he said.
Partner merchants will be able to benefit from Buyandship’s platform by making use of its large membership base and established logistics platform. The company also offers a cheaper and more holistic alternative compared to other similar e-commerce platforms. Buyanship’s platform also allows partner merchants to launch crossover promotions to its members.
“In response to the pandemic, we see a lot of merchants switched their focus to e-commerce to offset the impact. However, the cost of delivery and logistic handling has limited their market reach to locals,” said Buyandship Co-founder, Sheldon Li.
“Considering the growing population of e-shoppers, amounted up to 1.7 billion in Asia alone, it seems a waste to overlook the potential of foreign markets. The partnership we initiated with Yoho is our answer to the dilemma. We waive not only the logistic barrier of the merchants, but we are also utilizing our member base to help them tap into the global market. At the same time, we are able to offer our members additional buying options and offers,” he added.
He also mentioned the first partnership with Yoho has been successful with a quick surge of their sales from overseas, adding that the company is looking forward to collaborating with more merchants for creating a better business environment during the pandemic downturn.
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