Chinese students capitalizing on 'Daigou' in Australia
"Daigou", or "buying on behalf of", business is reportedly booming among Chinese students overseas, particularly in Australia.
UGG boots, a popular item for Chinese students to send back to China from Australia. [File Photo: 25pp.com]
As many as 8 in 10 of the students are involved in "Daigou" businesses in some form, reports the New York Times.
Zhang Yuan, a 25-year-old Chinese graduate in Australia, told the New York Times that she started buying products such as UGG boots and baby formula for relatives in her hometown in Hangzhou, east China's Zhejiang Province.
Struggling to find a job after graduation, Zhang started her own business in Melbourne specializing in selling popular Australian products to Chinese consumers.
Now she employs six people and earns more than 300,000 US dollars per year, according to the New York Times.
Zhang said she believes Chinese people have a blind admiration for foreign products.
Seven popular products that Chinese students in Australia send home include UGG boots, baby milk formula, an "erectile dysfunction" drug called Kangaroo Essence, vitamins, Pandora jewellery, Michael Kors accessories and fresh fruits, according to StudyInternational.com.
Reasons behind increasing interest in overseas products among Chinese consumers are said to include concerns over food safety in China, as well as the high prices of luxury goods such as women's designer handbags, according to media reports.
"Daigou" businesses sent Australian goods that worth about 600 million US dollars to China in 2016, according to the New York Times.