Flexible cross-border sales models expand financial frontiers

During last year's Black Friday shopping spree, Xuchang wig seller Deng Nan was elated that year-on-year sales skyrocketed by 85 percent, due in no small part to his forward-looking sales strategy.

Black Friday fell on Nov 29, with sales boosted by cross-border e-commerce, and following strong retail figures for the Oct 31 Halloween celebrations.

"Consumers, in particular, used wigs to cosplay or participate in costume parties for the celebration of Halloween," Deng said.

"Wigs are not a necessity in China. But in overseas markets, they are regarded as a fashion symbol and an important and stylish accessory. Some consumers buy more than a dozen at a time," he said.

Xuchang, in Central China's Henan province, produces more than half of the world's wigs and is the leading global distribution and export center for such products. More than 300,000 locals work in wig-related industries in what's known as China's "hair factory".

Three years ago — seeing the growing demand for wigs abroad and aspiring to reach more overseas consumers — Deng began selling wigs through cross-border e-commerce platforms and registered with the fast-fashion online retailer Shein.