The Gearbest website under Global Shopping is no longer accessible...

Enter the Gearbest website address, and a pop-up page will display: Invalid URL. According to foreign media reports, this situation has lasted for several days, and the official has not given any announcement or explanation. Its Facebook and Google Play accounts have also stopped being active.

Gearbest was founded in 2014 and is affiliated to Global Easy Shopping . It is an online shopping platform focusing on electronic products, small appliances and fashionable men's clothing. In 2016, Gearbest started mobile operations and fully entered the minority language market. In March 2019, Gearbest opened its third-party seller platform and established overseas warehouses in the United States, the United Kingdom and other countries.

Gearbest was once a well-known cross-border B2C comprehensive e-commerce platform . In the " BrandZ Top 50 Chinese Global Brands 2021" report released by the communication group WPP and Google in May this year , the platform ranked 44th , and has topped the list for five consecutive years. In the e-commerce segment, Gearbest ranks second, second only to Alibaba and surpassing JD.com.

Once the leader of independent websites, Gearbest has seen a cliff-like drop in many key indicators in the past six months. According to the half-year report disclosed by Cross-border Communication, as of June 30, the average monthly active user number of Gearbest has dropped to 61,400, far lower than the 26.66 million at the end of last year; the average monthly visits have dropped from 174.82 million to 1.4301 million; and the 90-day repurchase rate has also dropped from 20.3% to 7.69%. In addition, the average monthly traffic conversion rate, the number of online SKUs, and the average customer unit price have also fallen to varying degrees. Now, Gearbest has simply closed down.

In the first half of this year, Gearbest 's parent company Global Easy Shopping achieved operating income of 251 million yuan, a year-on-year decrease of 93.7%; net profit was -138 million yuan, a year-on-year decrease of 242.97%.

The semi-annual report shows that this is mainly because Global Easy Shopping has been facing tight capital chains in recent years, and has suffered a large loss of business talent. The company has huge arrears in various expenses such as commodity procurement, logistics warehousing, etc. that are necessary for its business operations, and a lack of marketing and other expenses necessary for the company's main sales of independent stations and third-party platform businesses. This has led to a sharp decline in Global Easy Shopping's business.

Today, Global Easy Shopping has been declared bankrupt by the bank, and its platforms have begun to close, which is truly regrettable.

Global Shopping

Gearbest