Payoneer and Wayfair jointly recruit investors in seven cities to help home furnishing brands expand overseas

Payoneer and Wayfair will jointly empower Chinese furniture and home furnishing brand sellers. Through Payoneer's "Olive Branch Plan", Chinese sellers will be able to efficiently enter the Wayfair platform and obtain rapid incubation and volume support, taking the lead in seizing the European and American home furnishing e-commerce market and sharing the development opportunities brought by the new blue ocean platform.

It is understood that this investment promotion directly targets Chinese cross-border e-commerce sellers in the furniture and home furnishing categories, especially industrial and trade enterprises, factories and traders with overseas delivery capabilities. At the conference, professional teams from Payoneer and Wayfair shared in-depth topics such as the "Olive Branch Plan", interpretation of Wayfair's investment promotion policies, analysis of the platform's hot-selling categories, and platform operation skills, and also provided convenient on-site consultation and entry services.

( The first cross-border investment promotion conference held by Payoneer and Wayfair Greater China was grandly opened in Guangzhou. The venue was packed with people and the atmosphere was warm.)

At the conference, Payoneer announced its "Olive Branch Plan"   Officially covering the opportunities in the European and American home furnishing markets, the plan has been upgraded in terms of operations. The plan has now completed the upgrade from the initial "helping sellers accurately match the platform, quickly settle in, and stepping into providing sellers with high-speed and stable growth support" . Sellers can enjoy rapid platform settlement, comprehensive operational guidance, professional data sharing to help gain insights into overseas consumer groups and their own business conditions, as well as exclusive preferential resources. In terms of "starting volume", it mainly integrates Payoneer's industry ecological resources, global funding solutions, and supporting services to meet the growth needs of sellers at all stages. In 2021, Payoneer will work with various cooperative platforms to help Chinese sellers achieve a 5-fold increase in business, leading a large number of Chinese sellers to dig gold in the global market, including but not limited to North America, Europe, Latin America, Africa, South Korea, Australia, etc. In addition to the "Olive Branch Plan", on the cross-border payment side, Payoneer provides Wayfair sellers with services including extremely fast store opening, efficient payment collection, convenient withdrawal, panoramic payment, centralized management of multiple platform funds accounts, and payment services with better overall costs. In addition, Wayfair will also provide new sellers who join through Payoneer’s “Olive Branch Program” with “Enjoy Wayfair China Merchants Program ”.       One-on-one support service from managers.

As a leading vertical home furnishing e-commerce platform in Europe and the United States , Wayfair has a market value of up to 6.8 billion US dollars, with more than 60 million monthly active users on the platform. In 2020, the transaction volume of the Wayfair platform exceeded 14 billion RMB. In addition to traditional large furniture products, Wayfair also has many home furnishing , furniture , and kitchen supplies categories for investment. Currently, Wayfair has sites in the United Kingdom, Germany, and other countries in Europe in addition to the United States and Canada. Zhou Haiying, General Manager of Customer Development for Greater China at Payoneer, said : "Payoneer is an international digital payment leader and innovation pioneer, and Wayfair is a leading vertical home furnishing e-commerce platform in Europe and the United States. The two parties have joined forces to jointly empower Chinese home furnishing brands to go overseas, which is in line with the current trend of Chinese brands going overseas. The epidemic has prompted consumption transformation in the European and American markets, and the US home furnishing market is still in a positive trend, which contains huge business opportunities for Chinese sellers going overseas. We will empower Chinese sellers through the 'Olive Branch Plan' to win business opportunities. In addition, we will accelerate Chinese sellers to enter the new Wayfair track and achieve mutual benefit through a series of official cooperation investment activities."   Veronica Wang, Vice President of Business for Greater China at Wayfair , said: "Wayfair and Payoneer are close global partners. We look forward to making it easier and smoother for Chinese sellers to go global with the joint support of both parties. We attach great importance to the Chinese market. In the past two years, we have also seen the number of Chinese sellers on the Wayfair platform gradually expand and grow rapidly . We believe that Payoneer 's ' Olive Branch Program' will help Chinese sellers conduct business on Wayfair quickly, flexibly and securely, and win global business opportunities."

In the "post-epidemic era", global consumer behavior has accelerated its shift from offline to online, and a new opportunity for the trillion-dollar blue ocean market of cross-border e-commerce has arrived. With the rapid development of related industries such as the Internet of Things, artificial intelligence, advanced production technology, and new environmentally friendly materials, home furnishing market segments such as smart home, outdoor home furnishing, and functional home furnishing products have become popular. The cross-border e-commerce home furnishing industry will also usher in a super bonus year, with constant IPO and financing news, and the birth of many best-selling overseas home furnishing brands such as "Zhiou Home Furnishing", "DTC Overseas Home Furnishing Brand Newme", and "Outer". According to the data of "iiMedia Consulting | 2021 China Home Furnishing Industry Chain Research and Benchmark Enterprise Case Analysis Report", the supply chain of the home furnishing industry has been blocked by the impact of the epidemic since 2020. China took the lead in stabilizing the epidemic situation, which led to the transfer of some foreign home furnishing orders to China, and made up for the international home furnishing supply gap with its complete industry chain system, and China's home furnishing furniture exports ushered in development opportunities. The outbreak of the epidemic has also brought unprecedented challenges to the overseas expansion of home furnishing categories, such as the continued rise in transportation costs and the high operating costs of channel development. Payoneer and Wayfair have insight into the pain points of sellers and have launched corresponding solutions. For example, Wayfair provides sellers with end-to-end supply chain solutions, and Payoneer's "Olive Branch Plan" helps sellers settle in efficiently and supports rapid and stable growth.

Data released by the General Administration of Customs showed that China's furniture and parts exports in 2021 totaled 477.19 billion yuan , up 18.2% from the previous year . According to research reports, Guangdong Province accounts for the largest proportion of China's home furnishing companies in terms of geographical distribution, accounting for 11.3%. Jiangsu Province accounts for 7.2%, with strong production capacity and export demand. In response to these advantageous industrial clusters, the cross-border seller investment promotion conference jointly organized by Payoneer and Wayfair will also be held in six key cities in the furniture and home furnishing industry belt, including Ningbo, Nantong, Tianjin, Shenzhen, Zhongshan and Shantou, to escort local furniture and home furnishing brands to go overseas.

Payoneer

China

Furniture