How to Open a Hong Kong Multi-Currency Business Account

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Opening multi-currency business accounts in Hong Kong is not the easiest task on hand. Perhaps you have tried to open a business account with some banks, but got rejected.

I understand your frustration in that case. Luckily, there are service providers, such as Neat HK, that allows foreign companies to open multi-currency bank accounts in just a few days and without the need of even visiting Hong Kong.

Neat HK has shaken up the banking industry in Hong Kong and made it possible for many small companies to open local bank accounts.

What is Neat HK?

Hong Kong is the preferred location for FinTech companies, startups, and eCommerce sellers that want to incorporate in Asia. Even if it’s comparably easy to open a company in Hong Kong, it’s become significantly more difficult for small companies to open local business accounts.

Hong Kong’s banking industry has been bashed on much in the past years as locals and foreigners suffer from the hurdles to open local personal and business accounts.

Therefore, Neat HK was started in 2016. The founders, David Rosa and Igor Wos, both have a long experience from the banking industry and knew what issues SMEs and startups had to deal with when trying to set up business accounts in Hong Kong. Continue reading How to Open a Hong Kong Multi-Currency Business Account

6 Top Selling Products on JD.com

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JD.com is one of the biggest eCommerce platforms in China that has grown at a rate of more than 30% a year. Not surprisingly, increasingly more foreign companies see JD as one of the best options to reach the growing Chinese online consumer market.

Before you start selling in China, it’s important that you know what products that are in demand on the different eCommerce websites. Previously, I wrote an article where I list some of the top-selling products on Tmall.

Today, we’ll have a look at some of the top-selling products on JD, Tmall’s main competitor. Let’s get right into it.

1. Electronics & Home Appliances

JD attracts plenty of Chinese buyers who look for electronic merchandise, gadgets, and home appliances. The company does its utmost to grab market shares in these markets and acquired 46% of the big home appliance retail chain Five Star in 2019, valued at USD 190 million.

It’s not strange why JD is so strong in this market as it’s the preferred option among many men who are young and middle-aged, with a high purchasing power. Continue reading 6 Top Selling Products on JD.com

Hong Kong Fulfillment when Selling Cross-Border to China: by ZhenHub

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Hong Kong fulfillment is one of the most popular option when overseas companies sell products cross-border into mainland China.

Not only can fulfillment centers help you reduce shipping lead times, they’re often efficient and offer competitive shipping rates.

In this article, Vince Poon from ZhenHub explains how it works when shipping cross-border from Hong Kong to China. It’s an established fulfillment center with warehouses in almost a dozen countries.

Vincent, please introduce yourself and your work at ZhenHub in Hong Kong.

I’m the CEO of ZhenHub, a single dashboard terminal that helps you fulfill and ship your goods globally.

Here, you can get quotes, execute your shipments, communicate with your shipper and manage your inventory all in a single location.

Our terminal allows easy communication and our customers to automate their fulfillment and shipping. We also provide business intelligence and analytics around costs, delivery times and easy view of all documentation required for each shipment.

Before ZhenHub, my background was in the legal field and consulting. I saw a lot of issues within the supply chain, for example:

  • No visibility of pricing
  • No visibility over where shipments are located
  • Slow communication

After working with eCommerce companies, dropshippers and different brands for the last 8 years, I realized these problems meant the survival or growth of a successful eCommerce business.

This all flows down to how well your business is serving its customers.

Continue reading Hong Kong Fulfillment when Selling Cross-Border to China: by ZhenHub

7 Top Selling Products on Tmall: A Complete Guide

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Tmall is the biggest eCommerce marketplace in China where you can find practically any kinds of products.

Its cross-border version, Tmall Global, is also highly popular for brands that want to ship products directly from overseas or bonded warehouses within China.

Foreign companies often ask what products are in demand on different Chinese marketplaces. Therefore, I’ve written this article where I list some of the most popular products among Chinese buyers on Tmall.

1. Fashion & Clothing

Tmall and Tmall Global are two of the most popular options for foreign brands that sell fashion products and clothes online in China.

By comparison, one of its biggest competitors, Jingdong (JD), focuses more on consumer electronics and kitchen appliances. Kaola, on the other hand, is bigger for food products, beverages, and supplements.

Nowadays, you can find various big multinational brands on Tmall including Fendi, Burberry, Nike, Adidas, and the list goes on.

Medium-sized brands also set up shops here now as Chinese millennials drive the eCommerce market and look for unique products.

The fashion market is sensitive and competitive

The fashion industry is highly sensitive and big foreign brands have left Tmall with losses and results that didn’t meet expectations.

Continue reading 7 Top Selling Products on Tmall: A Complete Guide

How to Fulfill & Ship Products with Shopee: A Complete Guide

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Shopee has become one of the biggest E-Commerce marketplaces in Southeast Asia. Nowadays, it can also be found in countries like Korea and Taiwan.

Thus, Shopee operates in Asian countries where Lazada currently doesn’t have a presence.

Increasingly more cross-border sellers wonder how they can start selling on Shopee. Often, they ask how they can fulfill and ship orders to clients in so many countries.

In this article, you’ll learn the following:

  • What shipping options are available for Shopee sellers?
  • 3rd party fulfillment centers
  • Fulfilled By Shopee (FBS)
  • How can sellers offer free shipping on Shopee?
  • How can customers track orders?
  • How do sellers manage returns and failed deliveries?

What shipping options are available for Shopee sellers?

Shopee doesn’t have a mature logistics infrastructure for global cross-border sellers. At least not in comparison to Lazada and major Chinese E-Commerce platforms, like Tmall Global and JD Worldwide.

Its services are mainly to serve sellers in China, at least at the moment.

This is not strange as most of the products sold online in Southeast Asia are in the lower price range, manufactured in- and sold from sellers in China.

Continue reading How to Fulfill & Ship Products with Shopee: A Complete Guide

Top 5 E-Commerce Websites in Asia: A Complete Guide

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Cross-border E-Commerce is set to grow immensely in Asia in the coming decade.

At the same time as China has become the world’s biggest E-Commerce market, neighboring countries like Indonesia, Vietnam, and the Philippines grow at impressive rates.

With increased prosperity, mobile usage, and internet penetration, Asia will continue to be the most interesting E-Commerce market in the world. And that’s for a long time to come.

But, Asia is diverse and many don’t know in which country, or on which platforms they should sell.

In this article, I’ve listed some of the most popular and interesting E-Commerce marketplaces for cross-border sellers in Asia.

1. Tmall Global (China)

China’s E-Commerce market is not only the biggest, but one of the most developed in the World.

With a population of 1.4 billion and a surging middle class, it’s become three times bigger than the US E-Commerce market.

Here, Tmall Global (天猫国际) is undoubtedly one of the most popular cross-border E-Commerce websites.

Continue reading Top 5 E-Commerce Websites in Asia: A Complete Guide

How to Sell on Tokopedia: The Ultimate Guide

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Indonesia’s E-Commerce market will be one of the best performers in Asia in the coming decade.

With a low internet and mobile penetration, a quickly growing middle class and a huge population, there’s still plenty of room for expansion.

Strangely, many foreign companies haven’t even heard of its biggest E-Commerce giant – Tokopedia.

Today, I’ll tell you what Tokopedia is all about, if it’s open to foreign companies and how the future of Indonesia’s E-Commerce market looks like.

In this article, you’ll learn the following:

Continue reading How to Sell on Tokopedia: The Ultimate Guide

How to Sell on Shopee: A Complete Guide for Cross-Border Sellers

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The Southeast Asian E-Commerce market has transformed completely in the past years and will continue to grow in the coming decade. Previously, Lazada used to dominate most of the E-Commerce markets, but we’ve seen more contenders popping up over the years.

One of the biggest and fastest growing marketplaces is undoubtedly Shopee. Selling here is comparably easy and there are a number of benefits that follow.

Therefore, I’ve written this article where you’ll learn the following:

  • What is Shopee?
  • Shopee market share
  • In which countries is Shopee available?
  • Why should I sell on Shopee?
  • Cash on delivery (COD) and other payment options
  • Shopee seller fees
  • Order fulfillment options

Continue reading How to Sell on Shopee: A Complete Guide for Cross-Border Sellers

Registering a Trademark in the Philippines: The Ultimate Guide

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The Philippines is one of the fastest growing countries in Asia and foreign companies do their utmost to take advantage of its English speaking talent pool.

At the same time, the middle class grows fast and the demand for imported products just continues to increase. More and more companies now see the Philippines as a lucrative market for offline and online sales.

Naturally, we see a stronger demand for trademark registrations in the Philippines. As we both know, entering a foreign market without necessary protection can be risky and costly.

Therefore, I decided to write this article where I explain how you can register a trademark in the Philippines.

Topics covered in this article:

How do I register a trademark in the Philippines?

The Intellectual Property Office (IPO) manages all the applications and registrations of trademarks.

The process is straightforward and locals can register trademarks directly with the IPO. Foreigners, on the other hand, need work with a local agent to manage the registrations. With a local agent, I mean a company that has an office in the Philippines.

Continue reading Registering a Trademark in the Philippines: The Ultimate Guide

Managing Orders on Lazada: A Complete Guide for Cross-Border Sellers

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Handling orders timely on Lazada is crucial to avoid cancellations, reduce lead times, and improve customer satisfaction.

In fact, too high order cancellations can lead to a scenario where Lazada puts your store in “holiday mode”.

Thus, it’s important that you understand how to manage orders on Lazada, before you even get started selling products.

In this article, you’ll learn the following:

  • How you can receive orders from customers on Lazada
  • How to communicate with Lazada when receiving orders
  • Process when receiving orders
  • How to manage returns and failed deliveries
  • Acceptable reasons for order cancellations

Continue reading Managing Orders on Lazada: A Complete Guide for Cross-Border Sellers