SHENZHEN, China, Mar. 21, 2017 /PRNewswire/ -- Globalegrow, an innovative cross-border e-commerce enterprise, has announced its 2017 global outreach plan to focus on the development of the Middle Eastern and Russian markets. With the great potential of these markets, Globalegrow expects to achieve monthly sales up to US$20 million by the end of 2017.
"Globalegrow offers a variety of accessible women's fashion in more than 200 countries. We 're excited to extend Globalegrow to new markets. We have kept up stable growth with revenue doubling each financial year in the key markets of North America and Europe. It is thrilling to be able to build up operations in the Middle East and Russia," said Victor Zeng, COO of Globalegrow.
Members in the Middle East and Russia will be able to shop on Globalegrow's different fashion sites soon, offering them women's fashion, accessories and more.
A recent DHL report found that cross-border e-commerce will grow at a rate of 25% over the next three years, reaching US$900 billion by 2020 from the US$300 billion recorded in 2015.
By analyzing market potential and the user base in the Middle East and Russia, Globalegrow has set up a global expansion strategy to cope with the markets' dynamics. As more consumers have gained access to the internet and begun to appreciate the convenience of online purchases, online shopper penetration rates across the Middle East and Russia have grown rapidly.
"We are confident about the popularity of e-commerce in those regions, with its large population, rising internet connectivity and high levels of online payment. However, for emerging markets in the Middle East and Russia, early entrants like us will not consider the issue of return on investment, but are more concerned about the markets' growth potential, the size of the target user base and strategic layout," Zeng said.
In addition, Globalegrow will take its next step in further development by expanding in the regional markets of North Africa and Southeast Asia, opening flagship stores to offer members a better user experience offline.
About Globalegrow
Founded in 2007, Globalegrow is a cross-border e-commerce enterprise in Shenzhen, China. Globalegrow focuses on female customers who are fashion-sensitive and it operates overseas with different fashion sites, including RosGal, and SammyDress.
For more information, visit Globalegrow's website: http://www.globalegrow.com/en/
Contact Person: Lu Yang
+86-13418686013
luyang@globalegrow.com
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/globalegrow-establishes-footprint-in-the-middle-east-and-russia-to-further-global-expansion-300426877.html
