On April 18, 2024, the 2024 JOOM Seller Kick-off Conference of "Gathering Momentum and Rising Momentum, Win-win New Machines" ended successfully in Shenzhen. The founder/CEO of Joom Group also came to the event to participate in the event with the sellers. In addition, the official Joom team also provided sellers with zero-distance communication opportunities, and in-depth discussions on the hot-selling categories and market trends in overseas markets. The purpose of this conference is to help sellers successfully sail to the sea and open a new chapter of internationalization.
Pictured: The site of the 2024 JOOM Seller Launch Conference
After a four-year absence, the JOOM Seller Kickoff Conference was the first offline event for Joom after the pandemic, and Ilya Shirokov, founder and CEO of Joom Group, personally attended and delivered a warm welcome speech, which added a lot to the conference. His presence not only shows that Joom attaches great importance to sellers, but also brings great encouragement and confidence to the attendees. In Ilya Shirokov's speech, he shared Joom's development history and future plans, so that every seller present could feel Joom's firm determination and unlimited potential.
01Joom Group Founder/CEO looks back to the past and looks forward to the future
Ilya Shirokov began by emphasizing Joom Group's mission to make global trade easier and more efficient. He explained that this mission is the driving force behind the Group's continuous innovation and progress. Secondly, Ilya Shirokov introduced the three companies of the Joom Group in detail to the audience: Joom Marketplace, JoomPro, and Joom ProAnalytics. These three companies focus on retail, B2B business, and data analytics, respectively, and together form the comprehensive business scope of Joom Group.
After introducing the group's corporate structure, llya Shirokov introduced Felix, the new CEO of Joom Platform. He pointed out that under Felix's leadership, Joom successfully introduced the "buy more, pay less" mechanism. This innovative move not only encourages consumers to increase the number of items in a single order, but also enhances the competitiveness of the Joom platform itself. He believes that under Felix's leadership, Joom will continue to achieve more breakthroughs and help global sellers achieve greater success in international trade.
Pictured: llya Shirokov, Founder and CEO of Joom Group
At the conference, Felix Kagan, CEO of Joom E-commerce Platform, first showed some data about Joom's daily operations. He pointed out that Joom Marketplace has covered 118 countries and regions around the world, and can be shipped to Eastern Europe, Russia, the United Kingdom, Canada, and some African countries, etc., and the main markets are concentrated in Europe, especially in Eastern European countries, such as Poland, the Czech Republic, Latvia, Kazakhstan, etc. Looking back at the performance of the past year, the daily order volume of the Joom platform has almost doubled, showing strong growth momentum.
Felix Kagan further revealed that as of now, Joom has established close working relationships with nearly 7,000 sellers from China. He emphasized that Joom attaches great importance to the partnership with these sellers and hopes to jointly promote the development of the business on the basis of mutual assistance and mutual benefit.
Commenting on future growth plans, Felix Kagan said that Joom has invested heavily in product development to increase the number of orders and has upgraded to a more advanced and efficient warehouse system. He revealed that in 2024, Joom aims to quickly deliver products from China to European consumers within 7-14 days. In order to achieve this goal, Joom has set up a "Front Distribution Warehouse (FBJ)" in the Dongguan warehouse, which will open this year, and most products will enjoy the preferential policy of free storage fees. In addition, Joom also plans to stock 360,000 products and strive to improve the efficiency of pick-up to ensure that online scanning is completed within 72 hours.
Pictured: Felix Kagan, CEO of Joom e-commerce platform
02 Analyze the new trends of each category and tap the potential for innovative growth
On the Joom e-commerce platform, the fashion category is firmly in the first place in terms of sales with its unique charm and strong market potential. This category has a significant seasonal characteristic, especially in the period from March to June each year, when sales in the fashion category peak, accounting for 46% of sales on the platform. A deeper study of Joom's fashion category shows that female users occupy an absolute dominant position, accounting for 60%, while 80% of users are over 35 years old.
ACCORDING TO DATA RELEASED BY SKYQUEST, THE GLOBAL PLUS-SIZE CLOTHING MARKET SIZE WAS ABOUT $630 MILLION IN 2022 AND IS EXPECTED TO GROW TO $860 MILLION BY 2031. This growth trend not only reflects the growing consumer demand for a variety of sizes, but also highlights the huge potential of the plus-size apparel market. It is worth mentioning that in addition to the continued strong demand for plus-size apparel in the North American market, Europe and Asia-Pacific also account for more than 60% of the global plus-size apparel market.
In addition, Liao Mengping, Senior Account Manager of Joom e-commerce platform, also shared insights on consumer needs in new key countries. She pointed out that the potential consumer demand for children's fashion in these countries is also very high, providing new growth opportunities and market space for sellers.
Pictured: Liao Mengping, senior account manager of Joom e-commerce platform
In 2024, the home cross-border e-commerce industry is at a critical juncture in transformation and upgrading. It not only bears the historical responsibility of the transformation and upgrading of the traditional manufacturing industry, but also shoulders the mission of the times to open up the international market and lead the upgrading of consumption. On Joom, a global e-commerce platform, the electronics category has become the second most important category in GMV due to its unique charm and wide applicability, and the main consumers are men.
In order to better increase product sales, Joom professional evaluators will make relevant evaluations of new products for electronics and home appliance categories, and they will conduct a comprehensive evaluation of the product's performance, appearance, practicality and other aspects, and provide real photos and detailed advantages and disadvantages analysis, so that consumers can have a more comprehensive understanding of the product before purchasing, so as to make more informed purchase decisions.
According to Ye Qingfeng, senior account manager of Joom's e-commerce platform, the VBJ (Verified By Joom) program can significantly improve the credibility of new products. Through this program, Joom provides more exposure opportunities for new products, helps them quickly accumulate sales and reviews, and then builds a good market reputation. In addition, sellers in the electronics and home appliances category can further increase the visibility and sales of their products through a variety of marketing methods such as blogger reviews (China), new product launches, cooperation with off-site influencers, and the use of off-site advertising tools.
Pictured: Ye Qingfeng, senior account manager of Joom e-commerce platform
In daily life, health and beauty products have always been loved and concerned by consumers, and with the continuous improvement of people's quality of life, this trend is becoming more and more obvious. According to the latest data from Joom Internal, the beauty and health category has maintained a steady growth trend in the past three quarters. In particular, in the month-on-month comparison between Q1 2024 and Q4 2023, we found that the sales growth rate of secondary categories such as Skin care and Makeup was between 13% and 25%, which fully proves the market potential and growth momentum of the beauty and health category.
At the event, Zhu Xiaotong, Senior Account Manager of Joom E-commerce Platform, shared some valuable insights. She points out that for up to 76% of consumers, value for money is a key factor they consider when making a purchase. In other words, consumers want to be sure that the products they are buying are not only of high quality, but also affordable, and truly deliver on their value. In addition to this, free shipping and "transparent" pricing are also important factors influencing consumers' purchasing decisions.
Pictured: Zhu Xiaotong, senior account manager of Joom e-commerce platform
In the home furnishing category, the sales performance is particularly outstanding in the three categories of home kitchens, auto and motorcycle parts and industrial products. In order to help sellers better grasp market opportunities, Yin Xiaoqing, the key account leader of Joom e-commerce platform, shared the sub-categories with high potential under the home kitchen, auto parts and industrial categories based on the sales volume and year-on-year growth rate from 2024 to date. These categories include LED solar lights, cutlery racks, ceiling chandeliers, automotive tools, exterior refurbishment kits, reflective materials, motorcycle racks and accessories, and electronic pipe fittings.
In the process of sharing, Yin Xiaoqing also reminded sellers to pay attention to the compliance and logistics issues of large household products. Due to the differences in compliance requirements for large household products in different regions, as well as the large weight and volume of such products, the platform recommends that sellers prioritize local stocking strategies to ensure that products can smoothly enter the target market and meet the needs of local consumers.
Pictured: Yin Xiaoqing, the head of key accounts on the Joom e-commerce platform
At the end of the conference, the top sellers of major business lines gathered together to share their insights on "how to achieve rapid growth in a short period of time", "how brands can better respond to changes in competition and policies", and "how to achieve refined operations and innovative product layout", which brought valuable inspiration and harvest to the participants.
Pictured: Roundtable dialogue
Looking forward to the future, Joom Group will unswervingly promote its globalization strategy, actively expand into new market territories, and strive to bring better and more convenient service experience to consumers around the world. At the same time, the platform is eagerly looking forward to working hand in hand with partners and consumers around the world to jointly write a more brilliant future chapter and build a better tomorrow together.
Pictured: Joom group photo