Shenzhen is giving out money again! Youkeshu, Tongtuo and other big sellers receive millions of dollars in funding

This year, Amazon's wave of account bans has dealt a huge blow to some sellers, but many sellers, including big sellers, have begun to look for new ways out from the business perspective.

In August this year , the Shenzhen Municipal Bureau of Commerce issued a notice on organizing the application for the 2021 Central Foreign Trade and Economic Development Special Fund Support Project, which brought comfort and hope to many sellers. It is reported that the list of projects to be funded (rewarded) has been announced recently, and the public notice period has passed. Among the list of funded projects, there are many well-known sellers.

1.97 million in funding! Tongtuo, Zebao and other big sellers are among them

From the list of recipients of funding, we can see that 20 major sellers including Tongtuo, Zebao, Youkeshu, Saiwei, and Yibai Network have all received funding for the independent station project, with the amount each being 1.97 million.

According to the previous announcement issued by the Shenzhen Commerce Bureau, there are three special conditions for applying for funding for independent station projects ↓

The independent site must be online and operational before January 1, 2019 , and the operation of the independent site must be good, and it will operate long-term and remain stable in the future; the average monthly sales of the independent site in the past year (July 2020-June 2021) must be greater than or equal to US$300,000 ; companies applying for support for independent sites must hold greater than or equal to 50% of the shares of the entity that owns the domain name of the independent site , and the company can hold it directly or indirectly.

Regarding the conditions for applying for the above subsidies, some sellers have discussed that in order to apply, they must have operated the independent site for more than three years and their sales volume must meet the standards. This is not an easy task for many sellers. Most of the big sellers on this list who received funding for the independent site project are "regular customers", which further illustrates the rich experience accumulated by these big sellers and the great investment they have made.

As far as the cross-border e-commerce market is concerned, government support is an important driving force for its rapid development. The country has increased its support for independent websites. With the support of policies, independent websites are attracting more and more sellers to join the market, opening up a new world in the field of independent websites.

The CEO of the Shenzhen Cross-border E-commerce Association also said that the cross-border e-commerce industry has a strong development momentum, but due to multiple factors such as Amazon's account blocking and rising logistics costs, many sellers are struggling. In order to help cross-border e-commerce companies out of their difficulties, the government chooses to fund individual projects on a preferential basis.

Among them, the list of some companies that received government funding is as follows. If interested sellers want to view the full list, just copy the link and open it:

https://view.officeapps.live.com/op/view.aspx?src=http%3A%2F%2Fcommerce.sz.gov.cn%2Fattachment%2F0%2F923%2F923890%2F9425142.docx&wdOrigin=BROWSELINK

In fact, as early as August this year , the Shenzhen Municipal Bureau of Commerce provided strong support for the development of foreign economic and trade, and vigorously carried out the application and acceptance of special funds for foreign economic and trade development. The development and support of the cross-border e-commerce enterprise market is an important part of it.

In addition to supporting independent station projects, the Shenzhen Municipal Bureau of Commerce also gave strong support to cross-border e-commerce digital application projects . 26 companies including Huabao New Energy, Tongtuo, Yibai, Shopee, Suntech, and Youkeshu received financial support.

In addition, the Shenzhen Municipal Bureau of Commerce also gave strong support to cross-border e-commerce public overseas warehouses. AIMLE Overseas Warehouse, 4PX DP and Tongtuo all received support, among which AIMLE Overseas Warehouse received the highest financial support of 2.96 million.

Judging from the above list, there are many well-known cross-border sellers in Shenzhen that have been funded, and some sellers have won funding for multiple projects such as independent sites, cross-border e-commerce digital applications, and public overseas warehouses. In fact, in addition to these well-known sellers we are familiar with, some low-key independent site sellers have also received millions of dollars in funding.

With over one million monthly traffic, the branding road of security sales

In this award-winning list, an independent website project (reolink.com) of Shenzhen Ruilian Technology Co., Ltd. (hereinafter referred to as Ruilian) also received funding from the Shenzhen Municipal Bureau of Commerce.

Over the years, how has Ruilian progressed on the road to overseas expansion, and what achievements has it achieved?

According to Ruilian’s official website, the company was founded in 2009 and is a leading domestic video product and solution provider. It focuses on video technology, centering on three areas: smart cameras and sensors, private cloud storage, and Internet cloud services. It focuses on smart home applications, and its products and solutions are mainly aimed at the European and American markets.

Like many cross-border brands, Reolink initially started out as an OEM and OEM foreign trade product manufacturer. However, due to the low profit margins of OEM products, Reolink eventually chose the branding path and created its own brand – Reolink – in 2015.

Brand building naturally requires its own brand moat, of which the most important is technical strength.

Although Reolink's R&D investment is not clear , it is understood that the number of Reolink's R&D personnel accounts for a quarter of the total number of employees. With sufficient technical support, Reolink has established a complete product line and continuously updates and iterates its products.

According to the official website, Reolink has three main product lines, including wireless battery cameras, indoor smart security cameras and security monitoring systems.

In addition to hardware products, Reolink also has its own software product - "cloud subscription service" Reolink Cloud, which is used to meet consumers' data storage needs. Although the price is not high (US$3-10), the gross profit margin has reached more than 40%.

According to statistics, the traffic of Reolink's independent website reached 1.77 million in November . Although it is not as good as the top-selling ones, as an independent website for vertical products, this number is already good.

From a geographical perspective, the largest source of Reolink website traffic is the United States, accounting for nearly half of the traffic (43.83%), followed by Germany ( 8.12%) and the United Kingdom (6.94%). From a channel source perspective, the main sources of Reolink traffic are keyword search advertising (58.99%) and direct visits (30.91%).

Reolink also placed advertisements on social platforms such as YouTube, Reddit and Facebook, and collaborated with influencers to produce review content.

Acquiring traffic is important, but converting traffic is equally important. In order to improve the conversion rate, Reolink has carried out refined operations on the website.

In order to promote purchases, the Reolink website has set up an interactive product recommendation chart, which can recommend the most suitable products to consumers based on their choices, and show consumers the product usage effects and product comparisons through videos.

Reolink has an average monthly traffic of over one million. From its establishment to becoming a leader in the security industry among domestic overseas brands, it is well-deserved to receive this funding. In fact, as a large number of Amazon boutique sellers switch to independent sites, more and more overseas brands like Reolink focus on technology and brand building, and independent sites will also usher in a warmer spring!

Shenzhen. Big Selling

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