Launching MyyShop, DHgate Takes First Step Towards Decentralized Environment


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Since international trade is not uniform, e-commerce across national borders has become an integral element of a win-win global inclusive development model. China Customs reports that the country’s total merchandise exports fell by 3.2% from the same period last year. Although this is often the case, imports and exports through cross-border e-commerce platforms, monitored by customs officials, have expanded by 28.7 percent. China’s customs pilot districts for international online B2B sales are only one example of the country’s recent push to encourage the development of this sector.

To make international trade accessible to everyone, myyshop builds a decentralized ecosystem that the company claims will revolutionize how business is conducted worldwide. The decentralized e-commerce model is a consumer-centric ecosystem that combines e-commerce infrastructure with several private domain channels, such as social media, messaging apps, and physical retail establishments. Create an online shop and make use of MyyShop’s comprehensive drop ship capabilities, ideal for monetizing private domain traffic or gaining a foothold in the social commerce space.

Creators of content play a crucial role in international online trade.

Most of the time when we talk about social e-commerce in a global setting, we’re talking about a scenario in which the buyers and influencers are located in one nation and the sellers are located in another. Influencers may easily advertise items to local followers or viewers, but it might be difficult for them to leverage their influence and establish relationships with international retailers or exporters so that they can earn money via social commerce. He spent too much time on social media, leading to an increase in followers but little material gain. He said that the idea of making money off of his social media accounts never occurred to him.

Small-scale vendors and online marketplaces

Considering how pervasive social media has become, it’s no surprise that social shopping is trending upwards. Social media influencers nowadays are working hard to earn their followers’ trust and develop personal relationships with them. Some have chosen to include e-commerce, encouraging their followers to make purchases by providing in-depth product demonstrations in the form of films or live streams, which is a radical departure from the text and static photos often seen on an online store.

There is more room for expansion in social commerce than there is in the current models of online shopping. MyyShop, a new Software-as-a-Service (SaaS) platform for decentralized cross-border e-commerce, was formally introduced by DHgate, one of the biggest B2B cross-border e-commerce marketplaces in China, at the China World Summit Wing in Beijing on Monday.

The actual point of sale for centralized e-commerce happens on highly visited websites like Taobao and JD.com. From there, they may allocate customers to the various businesses on the platform and collect various fees. However, for a decentralized e-commerce model to work, each retailer must generate its leads. Search and reliable suggestions are the backbone of centralized e-commerce systems. Therefore, businesses need to focus on “client retention.” Consumers in a decentralized market tend to be more loyal to their favorite brands. Customers are more likely to pay attention to the merchant’s official account, and the business may engage in more nuanced approaches to customer care.

Despite their large followings, those drop shippers are still very inexperienced in the e-commerce space and lack the tools necessary to turn website visitors into paying customers. The most difficult parts of their job are product research, logistical planning, and customer support. MyyShop claims to provide quick website design, careful supplier selection, AI-based product suggestions, smart financing, drop shipping, local delivery, full-channel logistics services, 24/7 customer support, and stress-free after-sales services.

MyyShop is a simple-to-use platform for creating e-commerce websites and integrating them with other platforms, such as Shopify and eBay. When a wholesaler receives an order from a retailer, the retailer pays the wholesale price and the retailer receives the product straight from the supplier. With the use of AI, the product suggestion feature may showcase more sought-after, higher-profit items to consumers. When it comes to logistics, smart logistics may save clients the most money.

Decentralized e-commerce will see significant growth in international markets as a result of the greater penetration of e-commerce seen during the pandemic.

CEO and founder of DHgate Diane Wang said, “We are pleased to debut this product. MyyShop facilitates international drop-shipping by linking China’s robust supply chain with worldwide private domain traffic monetizers or influencers. Every part of international commerce is empowered by such a social network-based ecosystem, which links all parts of the supply chain. Manufacturing purchasing managers’ indices from across the world indicate that China’s supply chain bounced back strongly in March after showing remarkable resilience during the epidemic. The CEO of MyyShop, Michael Liu, has said that more than 6,000 people signed up for the service within the first week after it went live. He continued by saying that a lot of the current customers are from places like eBay and Shopify.

 


SND Team

We are a team of writers passionate about entrepreneurship and innovation. We cover anything else that our readers may find interesting. This includes trending news, lifestyle and finance topics, consumer guides, and much more.

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