HONG KONG, Jan. 24, 2022 /PRNewswire/ -- Cyberport start-up Buyandship announced today it has acquired Hong Kong startup Comparee, a cross-border eCommerce price comparison platform developed by Decodes Limited. This acquisition will help enhance Buyandship's members ability to quickly compare global price all in one location lowering yet another hurdle in the current user experience. The overall direction for Buyandship is to build a cross-border eCommerce experience that is as seamless as domestic and will be in line with plan to further expand its e-commerce capabilities and help optimize the online shopping process and shopping experience for users.
A BCG study showed that 70% to 90% of consumers are price sensitive who will compare price before purchase, no matter in poor or rich nations[1]. Meanwhile, Buyandship's latest user survey revealed overseas purchases are at least 30% cheaper than local prices. This emphasizes the necessity to bring in a price comparison platform to the Buyandship ecosystem.
The strategic acquisition brings together Comparee's strength in price comparison with Buyandship's cross-border logistics expertise. It creates synergy and helps Buyandship evolve into a renowned cross-border e-commerce platform. The interfaces of two will be merged as one and launched in 12 countries and regions, in which our customers can compare prices around the globe and shop immediately online through Buyandship.
Based in Hong Kong, Comparee helps consumers discover the cheapest products through APIs of major e-commerce platforms and provides one-stop product reviews, price comparisons, shipping, and purchasing services, which makes overseas shopping cheaper and easier. It is currently available to users in Hong Kong, Taiwan, Japan, Indonesia, Vietnam, Singapore, and Malaysia.
Key Operation Data of Comparee:
Sheldon Li, the co-founder of Buyandship, said, "We are delighted to have Comparee joining Buyandship, and look forward to working together to build a cross-border online shopping ecosystem. The participation of Comparee will allow us to understand customer shopping preferences from the upstream, thereby helping us evolve into a cross-border e-commerce platform and service provider for independent e-commerce companies in the future."
Louis Hui, the founder of Decodes, said, "The pandemic has driven consumers to shop online, and Asian consumers are more inclined to buy high-quality products from overseas. We hope to provide Asian consumers a premium experience in shopping abroad online by bringing together our knowledge in big data and Buyandship's logistics network."
[1] Understanding the global price-sensitive consumer. BCG Global. https://www.bcg.com/publications/2021/consumer-price-sensitivity. |
About Buyandship
Established in 2014, Buyandship is a Cyberport start-up that is committed to providing customers with a simple and speedy one-stop cross-border eCommerce gateway through big data, global pricing comparison, content generation, logistics technologies, with a global presence across 12 countries and territories. Upholding our core value of making cross-border eCommerce as seamless as shopping domestically, 1.23 million of users registered for Buyandship's service to date.
For more information, please visit the company website: https://www.buyandship.today/
