Home> Latest

Alibaba forecasts 2024 emerging trends of digital foreign trade

www.ehangzhou.gov.cn| Updated: December 28, 2023 L M S


A man shakes a bionic hand at the second Global Digital Trade Expo in Hangzhou, East China's Zhejiang province on Nov 23, 2023. [Photo by Lin Yunlong/chinadaily.com.cn]

Eight emerging trends in digital foreign trade for 2024 were outlined in a new report released by Alibaba.com, Chinese tech heavyweight Alibaba Group's business-to-business platform that helps facilitate foreign trade, on Dec 27.

The report identifies new energy vehicles, niche sports, smart hardware, home automation, green and eco-friendly products, green energy equipment, hardware tools, and flexible production of small machinery as the top trends.

The rankings also highlight new energy, green and eco-friendly, personalization, and smart as the four keywords driving said trends. Brand substitution, enjoying oneself at home, green and eco-friendly, and cutting-edge technology emerged as major themes for overseas consumers throughout the year.

In the new energy sector, Chinese NEVs are surging ahead in the global market, having achieved remarkable progress in the industrial chain and technology. Chinese domestic brands now boast product capabilities surpassing those of traditional giants in Europe and the United States.

According to the report, sales of NEVs manufactured in China have seen a year-on-year growth of 97 percent. New energy passenger cars, golf carts, electric motorcycles, and electric tricycles are expected to be popular product categories in 2024.

In terms of personalization, overseas consumers have driven niche sports to the forefront, turning pickleball, baseball, and badminton into international favorites. With pickleball designated as a demonstration sport for the 2024 Paris Olympics, sales of rackets have surged by 209 percent. Emerging outdoor leisure products related to camping and mountaineering have also maintained strong sales over the past two years.

The report also shows that wearable devices, virtual reality glasses, smart speakers, and pet-related products have seen growth rates of over 30 percent.


Public art project Digital Float stages its second show on a naked-eyed 3D display screen in Hangzhou, Zhejiang province. [Photo provided to China Daily]

1 2 3 4