Core Viewpoint - The rapid growth of cross-border e-commerce is facing significant challenges due to changing policies and market dynamics, leading to a shift from a focus on low prices to a need for brand differentiation and operational resilience [1][2][9]. Group 1: Market Dynamics - Over the past two years, platforms like TEMU have disrupted the cross-border e-commerce landscape, leading to a decline in sales for many individual sellers who previously thrived on low-cost models [1][2]. - The cancellation of the "low-value exemption" policy by the U.S. in April 2025 has severely impacted Chinese cross-border e-commerce players, particularly those relying on direct shipping models [5][6][8]. - The introduction of new tariffs has forced platforms to adapt their business models, with many transitioning from full-service to semi-managed or local fulfillment strategies to maintain competitiveness [8][9][30]. Group 2: Regulatory Environment - Regulatory scrutiny has increased globally, with platforms like SHEIN and TEMU being designated as "super large online platforms" under the EU's Digital Services Act, indicating a tightening of oversight [4]. - In Southeast Asia, countries like Thailand and Indonesia have taken measures to ensure compliance from Chinese e-commerce platforms, reflecting a growing wariness of foreign competition [5][6]. Group 3: Competitive Landscape - The competitive landscape is intensifying, with major players like SHEIN and TikTok Shop also adopting new strategies to counter the rise of TEMU, which has quickly gained market share [20][22]. - TEMU's "full-service model" has attracted many sellers by minimizing entry barriers, but this has also led to concerns about sellers losing pricing power and market influence [22][24]. Group 4: Future Outlook - The cross-border e-commerce sector is expected to undergo a significant transformation, with a shift towards profitability and value-driven strategies rather than solely competing on price [32]. - The recent tariff adjustments have created a temporary window for increased shipping activity, as businesses rush to capitalize on lower costs before the next policy changes [27][28]. - The future of cross-border e-commerce will likely see a greater emphasis on brand building and product quality, as companies adapt to a more challenging regulatory and competitive environment [32].

编辑丨周智宇 图源丨Midjourney 过去十年，跨境电商草莽掘金，一夜暴富的神话，正在迅速退潮。 来源丨全天候科技（ID： iawtmt ） 作者丨 黄昱 王策（化名），一位在跨境浪潮中摸爬滚打了近八年的舵手，曾经动辄爆单、利润丰厚，日赚斗金， 然而如今他的店销量仅能勉强维持在高峰期的三分之一，全球开店的浪漫想象也已被现实的骨感击 碎。 过去两年多，TEMU携大量拼多多商家汹涌出海，分食了原本偏小众的跨境电商生意，美国在2025年 4月悍然取消中国商品的 "小额免税" 政策，又成为最后一根稻草，随后关税飙升，让那些高度依赖直 邮小包模式的中国玩家遭遇直接冲击。 不仅是个体商家，以TEMU为代表的跨境平台，也被迫从过去依赖免税小单、极致低价和高效供应 链，为海外消费者营造"像亿万富翁一样购物"的幻梦中惊醒。 随后的中美经贸会谈带来喘息之机，但政策的钟摆效应远未平息——欧盟对入境小包裹拟征费用的传 闻旋即又起。这清晰地昭示着，不确定性，已是跨境电商必须时刻面对的新常态。 对于高度依赖政策红利的跨境玩家而言，每一次风向变动，都挤压着本已微薄的利润空间，挑战着他 们的生存底线。 这不再是一个单凭勇气和低价就能制胜 ...

作者黄昱 编辑周智宇 过去十年，跨境电商草莽掘金，一夜暴富的神话，正在迅速退潮。 王策（化名），一位在跨境浪潮中摸爬滚打了近八年的舵手，曾经动辄爆单、利润丰厚，日赚斗金，然而如今他的店销量仅能勉强维持在高峰期的三分之一， 全球开店的浪漫想象也已被现实的骨感击碎。 过去两年多，TEMU携大量拼多多商家汹涌出海，分食了原本偏小众的跨境电商生意，美国在2025年4月悍然取消中国商品的 "小额免税" 政策，又成为最后一 根稻草， 随后关税飙升，让那些高度依赖直邮小包模式的中国玩家遭遇直接冲击。 不仅是个体商家，以TEMU为代表的跨境平台，也被迫从过去依赖免税小单、极致低价和高效供应链，为海外消费者营造"像亿万富翁一样购物"的幻梦中惊 醒。 随后的中美经贸会谈带来喘息之机，但政策的钟摆效应远未平息——欧盟对入境小包裹拟征费用的传闻旋即又起。这清晰地昭示着，不确定性，已是跨境电商 必须时刻面对的新常态。 对于高度依赖政策红利的跨境玩家而言，每一次风向变动，都挤压着本已微薄的利润空间，挑战着他们的生存底线。 这不再是一个单凭勇气和低价就能制胜的时代，那些躺着赚钱的日子，无疑画上了句号。 王策和TEMU也在行动。从不惜一切代 ...

Core Viewpoint - The rapid growth and profitability of cross-border e-commerce, particularly for Chinese platforms like TEMU, SHEIN, and TikTok Shop, is facing significant challenges due to changing regulations and increased tariffs, leading to a new era of competition and survival strategies in the industry [1][2][11]. Group 1: Market Dynamics - The cancellation of the "low-value exemption" policy by the U.S. government has severely impacted Chinese cross-border e-commerce players, particularly those relying on direct shipping models [5][7][11]. - TEMU and other platforms are shifting from aggressive price wars to brand transformation and operational adjustments in response to the evolving market landscape [2][11]. - The cross-border e-commerce sector is experiencing a shake-up, with smaller players and those dependent on low-cost strategies likely to exit the market, while larger, more resilient companies may gain market share [33][34]. Group 2: Regulatory Environment - Regulatory scrutiny has increased globally, with platforms like SHEIN and TEMU being designated as "super large online platforms" under the EU's Digital Services Act, leading to tighter regulations [3][4]. - The U.S. has also implemented stricter customs policies, which have resulted in significant price increases for goods sold through platforms like Amazon and TEMU [8][9]. Group 3: Business Model Evolution - The introduction of the "full management model" by TEMU has attracted many merchants by reducing entry barriers, but it has also led to concerns about merchants losing pricing power and autonomy [25][28]. - A shift towards a "semi-management model" is emerging, allowing sellers more control over logistics and pricing while still benefiting from platform support [29][30]. - TEMU's recent adjustments, including the Y2 model that allows direct shipping from China to the U.S., aim to mitigate the impact of high tariffs while maintaining competitive pricing [35][36]. Group 4: Future Outlook - The cross-border e-commerce landscape is expected to transition from a focus on aggressive growth to a more sustainable, profit-oriented approach, emphasizing product quality and brand value [37][38]. - Companies must enhance their research and development efforts and shift from low-cost exports to high-value branding strategies to thrive in the new regulatory environment [38].

亚马逊和 Temu 们相互学习。 文丨陈晶 亚马逊要学 Temu、Shein、速卖通等平台常用的模式，以 "全托管" 模式从中国进口便宜商品，以防御中国 跨境电商平台的进攻。 与此同时，中国跨境电商平台则开始启用亚马逊跨境业务常用的 "半托管" 模式——平台负责卖货，但商 家自己承担国际干线物流、到达目的地国后的配送费用。这种模式吸引的商家规模普遍较大，他们大批量 运货到海外，压低物流成本，再通过电商平台销售。 Temu、Shein、速卖通以半托管模式招来的多是亚马逊上的大卖家。他们以亚马逊搭建好的物流、培养的 商家攻入亚马逊的市场。Temu 鼓励商家直接以亚马逊的包裹发货，希望给用户留下 "和亚马逊一样的货， 但价格更低" 的印象。 Temu 在今年 3 月上线半托管模式，并将大部分重心转到此。我们了解到，Temu 半托管招商团队已达 1000 人，由 7 位一、二级主管分别带领 7 个小组相互竞争。全年 600 亿美元销售额目标中，半托管被寄 望于完成 200 亿美元。Temu 否认了以上数据。 一位 Temu 人士称，内部对该业务的期待是 "只有成功没有失败，一定要做成也一定能做成"。 Shein、速卖 ...