Author Name: Tiffany Lee – Marketing Analyst at FreightAmigo｜30/8/2022
Ymatou, a Chinese cross-border e-commerce platform, Founder and Chief Executive Zeng Bibo posted a lengthy letter on WeChat earlier this month. The letter noted that Ymatou faced several difficulties this year, including rigid Covid-19 control measures, the structure of organization adjustment and obstruction of customs clearance. Zeng also detailed the firm’s efforts to survive various disruptions, which have resulted in a dwindling cash flow and an exodus of employees. He vowed to continue the e-commerce platform’s business growth and promised to try his best to keep the business afloat.
Zeng Bibo wrote that the Covid-19 control measures have hurt e-commerce market development. China’s current economic position is dire. The number of cargo flights has significantly decreased across the world, and the processing time for customs clearance also increased. Changes under the pandemic have impacted the crucial logistics industry of e-commerce. Three-month Covid-19 lockdown in Shanghai shut down vital logistics operations, which prompted many Ymatou users to cancel their orders. These caused the firm to face mounting challenges from the country’s faltering economy.
While the easy and most logical choice at present would be to give up and close the company. However, Zeng Bibo stated that he remains optimistic about the development prospects of the e-commerce platform and goes against the disruptions that continue to operate Ymatou.
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