RMB Appreciation Leads To Overseas Commodity Purchasing Hot

Due to the accelerated appreciation of the RMB against the US dollar, a large number of large purchasing websites involving dollar payment have lowered the exchange rate recently, which stimulated more netizens to purchase goods from abroad through the network channel.

Taobao's report released yesterday showed that Taobao's total purchases in the first quarter of 2007 were 90 million yuan, while the first quarter of 2008 surged to 520 million yuan, an increase of 481% over the same period last year.

The so-called online purchasing business is to help other people buy things from abroad through the Internet, and the products come mainly from the United States, Japan and other countries and Hongkong. This is much more convenient than shopping directly from overseas websites, and it is also a fashionable expression.

Buy milk powder from New Zealand, buy sheep oil from Australia...

For young people who are keen on online shopping, keeping up with global fashion is becoming a way of life.

Taobao staff told reporters that overseas purchasing mainly concentrated in the US dollar region as the main currency. Japan and Hongkong are also hot spots for overseas purchasing.

The products purchased mainly focus on the three categories of expensive cosmetics, health products and clothing bags. However, low-priced goods such as milk powder and toothbrushes are also included in the purchasing force, but sellers have the lowest limit on the amount of purchase.

At present, there are mainly two kinds of sellers who buy products on Taobao. One is that people send them back to the mainland when they buy them abroad or in Hong Kong, Macao and Taiwan.

The other is people in the country, asking relatives and friends to buy it and send it back to China.

The final postage, freight and other specific prices and final paction price are jointly discussed by sellers and buyers.

Why are more and more buyers keen on purchasing overseas products online?

One is the low price, and the seller has listed the purchasing cost formula: the official price in Europe and the United States (half off of the original price) + the purchasing charge 8%~10% + domestic freight, the buyer pays the small deposit first, and the goods will pay the balance after it arrives.

As a result, the domestic consumers can basically buy the discount products of European and American counters at 40 percent off, which can be delivered within a week by international express delivery.

Another point is that RMB is becoming more and more valuable overseas.

Miss Wang from the United States told reporters: "by the end of 2006, when buying goods from the United States, the exchange rate of RMB against the US dollar was 1:8.2, which has recently become 1:7.2.

I have just looked at a pair of shoes for 175 dollars, so that only one piece of merchandise is saved by nearly 200 yuan.

She said that the exchange rate of RMB against the US dollar is about to break "7", and overseas purchasing is even cheaper.

However, although online purchasing is cheap, there are still some problems that need attention. First, there is a lack of quality assurance.

For example, foreign health products or foods lack import inspection and quarantine certificate and guarantee no door, and may also buy fake goods; the second is the cycle lengthening, sellers to save pport costs, often multiple packages of goods centralized packing, resulting in longer pportation cycle, goods generally arrived for more than a month.

Finally, it is common that goods are damaged during long distance pportation.

Purchasing benefits: first, domestic consumers can basically buy discounted products from European and American counters at a price of 40 percent off; secondly, the renminbi is becoming more and more valuable overseas, and a pair of shoes is nearly 200 yuan more than a year ago.

Purchasing problems: first, the lack of import and export quarantine certificates for health products or foods is not guaranteed, and it is possible to buy counterfeit goods. Secondly, the sellers often concentrate their packing on multiple shipments to save pport costs, resulting in longer pportation cycles; thirdly, goods are easily damaged during long distance pportation.