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In today's global market, Chinese cross-border e-commerce sellers face multiple challenges. Maintaining business stability and pursuing growth amidst increasing international trade tariffs, platform competition squeezing enterprise survival space, and declining market demands are pressing issues for many Chinese cross-border e-commerce ventures. These challenges also serve as critical research topics for numerous university programs.
Teachers and alumni of Guangdong University of Finance
On July 11, 2024, teachers and alumni from the School of Economics and Trade at Guangdong University of Finance visited GUANG ZHOU NAVIFORCE Watch Co., Ltd. for communication. The event focused on practical experiences and industry trends in enterprise cross-border e-commerce operations.
As a pioneer in the field with 12 years of experience, Kevin Yang, founder of GUANG ZHOU NAVIFORCE Watch CO.,LTD, shared the company's development history and explained how NAVIFORCE successfully overcome three years of pandemic lockdowns:
kevin_yang shared his experience with participants
1. Market Insight and Quality Enhancement:
Back in 2012, Kevin Yang identified a blue ocean opportunity in the market segment for watches priced between $20 and $100 USD, noting poor quality among existing offerings. He selected Japanese movements for his original designs and ensured they met 3ATM waterproof standards. With no comparable products offering the same quality at the same price, NAVIFORCE watches immediately gained popularity among wholesalers worldwide upon launch.
kevin_yang (1st from left) shares his experience with participants
2. In-House Watch Factory and Stringent Quality Control:
Facing a surge in global orders, maintaining consistent supply and quality was paramount. Kevin Yang meticulously managed the watch component supply chain, subjecting each product batch to rigorous 3Q inspections covering functionality, material quality, assembly precision, waterproofing, and more. He believes high-quality products are the most convincing argument for customer loyalty, supported by a reliable supply chain.
Participants asked questions
3. Pricing Strategy and Market Segmentation:
Despite NAVIFORCE's global recognition, Kevin Yang removed brand premiums when supplying wholesalers, ensuring competitive pricing that others couldn't match for similar quality. Kevin Yang mentioned that some wholesalers once said that they couldn't achieve NAVIFORCE's low supply prices even if they produced watches of equivalent quality themselves. NAVIFORCE has truly achieved "best quality at the same price, best price at the same quality," providing global watch wholesalers with pricing and profit margins. Additionally, NAVIFORCE has segmented the market, allowing wholesalers from different countries to utilize their initiative and avoid price competition fully.
Regardless of market fluctuations, the 4P marketing theory remains pivotal for enterprise success. NAVIFORCE's strategy includes offering high-value products, nurturing upstream and downstream channels, and delegating promotional activities to long-term distributors worldwide to sustain growth.
Participants
Teachers and alumni from Guangdong University of Finance endorsed the practical insights gained from NAVIFORCE's cross-border e-commerce practices. They also shared their latest research findings and practical experiences in the field, highlighting the importance of integrating education with real-world application to cultivate global perspectives and innovation capabilities among students.
Participants received NAVIFORCE watches as gifts
Through this exchange, Guangdong Finance University and Naviforce Watch deepened their understanding of market demands and development trends, laying a solid foundation for nurturing talent with global vision and market insight. Both parties pledged to continue their close collaboration to drive innovation and development in the cross-border e-commerce sector, preparing for future industry challenges.
Post time: Jul-17-2024
