Home appliance company Midea plans to invest in cross-border eCommerce
In recent years, Chinese home appliance companies have expanded their business overseas. For example, Midea estimates that in many markets, the overseas market share of Chinese brands will be no less than 10% in 2025. From 2017-2019, the overseas sales of Midea alone increased from CNY 104 B to CNY 116.78 B. COVID-19 has further increased the market demand for Chinese products through high availability and their functioning supply chain. In this regard, the most significant growth is expected to be in North America, APAC, and the Middle East.
This briefing is contributed by and first appeared on CIMK.
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