MyyShop: Revolutionizing Cross-Border E-Commerce through the Power of Social Media
The Executive Headlines
Over the past few years, cross-border e-commerce has grown exponentially, taking the entire world by storm. Currently, merchants are expanding their market beyond their borders in order to make their business more robust, more successful as well as more expandable. This is also due to the contribution of the internet and technology that has made it easier for people to explore foreign brands by accessing foreign merchants and purchasing products.
Committed to engaging everyone in global trade, MyyShop has tremendously lowered the barrier to opening and operating a cross-border e-commerce business with its advantages in single link URL online shop fast creation, smart product recommendation, integrated marketing, online payment, and cross-border logistics, helping users to innovate and turn their impact into a good business.
During a conversation with Diane Wang (Founder, Chairperson, & CEO of DHGATE Group, which owns MyyShop), we learned about the company and its influence on lowering the barrier and other challenges related to the cross-border e-commerce business. Following are the snippets from the insightful discussion.
What factors encouraged the establishment of MyyShop?
MyyShop was founded when we observed that the relationship between production and consumption in the global trade as well as the retail chain was being reshaped due to booming social media networks.
According to the data from eMarketer, 55.5% of Gen Z (born between 1997 and 2012) adult social network users buy from their social platforms in the US, while 47.5% of Gen Z teen social network users shop inside such channels. As the first generation in the mobile internet era, Gen Z is dominating the voices in social media, leading the popular culture and greatly influencing consumption. Their strong willingness to consume is leading the global consumption trend and bringing significant changes to global trade.
For Gen Z, it will be an era of "new generation + new connections, and new possibilities". Decentralized independent websites are booming, and small merchants are also able to be “decentralized” from big platforms. In the chain of the new network: sharing is promotion, the connection is sales, and logistics is a service that can be paid for immediately. As both a consumer and a seller, everyone has the ability to connect with the producers directly.
In 2020, MyyShop was unveiled to connect global MSME (Micro, Small and Medium Enterprise) supply chains with people owning substantial private domain traffic on social media platforms and rebranded in July this year as a one-stop social commerce SaaS platform.
How would you describe the wide array of services/solutions offered by MyyShop?
- AI-Powered Decentralized Social Commerce SaaS Platform to turn your social power into good business: MyyShop’s AI-Powered Analytics Tool helps you stay on top of the most popular trends and discover the trending products among Creators & Influencers. With a single link URL, we help you open your online shop more lightly within a few minutes so that you can easily personalize and link to other social media platforms. You can also seamlessly and conveniently integrate other online stores into Myyshop and manage all businesses through one intuitive, streamlined platform.
- End-to-end live-streaming commerce and e-learning platform: Our platform offers live-streaming online courses and step-by-step tutorials for any individual that would like to do e-commerce on social platforms.
- Cross-border smart logistics platform that offers direct shipment, full-chain logistics fulfillment service, and a global warehouse network: We also offer an integrated cross-border marketing service platform that provides merchandise suppliers with a wide variety of marketing products and tailor-made solutions, from influencer affiliate marketing to ‘One-Click’ omnichannel ad placement.
Out of all the services offered by the company, which product has gained maximum popularity, and what makes it a distinct choice among users?
Speaking of our most popular product, MyyShop VIP includes an AI-Powered Analytics Tool which helps its users stay on top of the most popular trends and discover the trending products among Creators & Influencers. It also features a single URL quick online shop builder, which helps users build a social commerce online shop more lightly within a few minutes. One can also seamlessly and conveniently integrate other online stores into Myyshop and manage all businesses through one intuitive, streamlined platform.
Please shed some light on your client portfolio. How does the company utilize customer feedback for scaling success and growth?
On the one side, MyyShop has been used by a wide variety of merchandise suppliers. For instance, one of our clients is a Chinese household products seller targeting the North American market via TikTok. The client once had the willingness to sell but did not know which product to sell first. With MyyShop’s short video analytics tool powered by AI and big data technology, the client figured out bathroom products could be the category since there were more and more short videos about these products while interaction between video producers and viewers was also picking up. Later via MyyShop’s AI-enabled tool, the client found that water pressure-powered LED showerheads that can constantly change colors would be the best choice among all bathroom products. MyyShop matched the client with over 30 online influencers, who sold colorful showers and generated RMB 2 million in sales in less than one week.
On the other side, MyyShop has been used by a large number of social media content creators. For instance, a US-based cosmetics-focused content creator with 30,000 followers at the beginning created a video for one product of a supplier, which she gained access to via MyyShop. The video was played nearly 40,000 times in a very short period of time, while 8 percent of all viewers bought the product. In this move, the creator gained 20% more followers. She now has about 190,000 followers, gaining nearly USD 10,000 in monthly revenue from making product-recommendation short videos.
What is the development plan for MyyShop?
As of July 2022, 1.66 million content creators worldwide have registered on MyyShop, boosting sales of more than 4 million products. With respect to that, we expect more than 1 million active content creators will use MyyShop and generate USD 3.8 billion in gross merchandise volume over the next three years.
Please highlight three major reasons that make MyyShop a popular one-stop social commerce SaaS platform.
The following factors make MyyShop a popular, one-stop social commerce SaaS platform within the market:
- MyyShop features a resilient supply chain that DHGATE Group has built for more than 18 years, which can be leveraged by all users of the one-stop social commerce SaaS platform.
- MyyShop boasts a unique e-learning platform that not only provides everyone with step-wise instructions but also expands MyyShop’s reach to budding online influencers.
- MyyShop serves as a vital bridge connecting both suppliers in one country and online influences in other countries, enabling everyone to participate in global trade in the social commerce era.
On being one of the fastest-growing companies:
MyyShop has tremendously lowered the barrier to opening and operating a cross-border e-commerce business with its advantages in trending product discovery, smart matching product recommendation, single link URL easy online shop creation, integrated marketing, online payment, and cross-border logistics, helping users to innovate and turn their impact into a good business.
“MyyShop connects manufacturing capacity with private domain traffic, providing a wide selection of products, e-commerce tools, logistics, and marketing services.”
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