Livestreaming China’s e-commerce firm becomes first to accept country’s digital yuan. Learn more about Innovator Intelligence, a platform that curates, showcases and connects the world’s most innovative technology companies with partners, investors and mentors. The eCommerce market encompasses the sale of physical goods via a digital channel to a private end user (B2C). It is also a good way to reach out to consumers in lower-tier cities, who usually do not want to download apps due to cheap data plans. The increase is smaller due to the pandemic, but steady," said Zhong Huanyu, director of the office of cross-border e-commerce at the Heihe Area of of China (Helongjiang) Pilot Free Trade Zone (FTZ). Leading apps include Alibaba’s Xianyu and Tencent-backed Zhuanzhuan, with monthly active users totaling around 14 million and 7 million respectively as of May 2019, according to data firm iResearch. Viya Huang is a livestream commerce queen in China. In the latest development, the e-commerce company Jingdong, popularly known as JD.com, has become China’s first virtual platform to accept the country’s very own virtual currency called Digital Yuan as a payment mode. In the first half of 2020, China’s online retail sales totalled 5,150.1 billion yuan (US$727.36 billion), up 7.3% year-on-year. ChoZan Mega Report China Ecommerce + Marketing Q4 Outlook is the first in a series of quarterly forward-looking reports about China’s ecommerce and digital marketing.. Covid-19 outbreak has significantly boosted technology development in China, and as a result 2020 has become a very productive year for China tech giants, we witnessed improvements in livestreaming and ecommerce … The growing adoption of technologies and use of data in the retail industry will enable the proliferation of the consumer-to-manufacturer (C2M) business model as well as faster delivery services. 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Implications for brands: New technology will power the further acceleration of deliveries in China. Brands can work with these platforms to effectively target their products to the appropriate consumer base, such as Jiuxian for wine and Babytree for parent-and-baby products. In 2020 global eCommerce market will cross the two trillion US$ threshold. Brands would need to identify suitable KOCs, as they usually do not have many followers, which makes them difficult to find. China eCommerce Overview in 2020 E-commerce sales in China are on way to surpass expectations as they already reached $1.53 trillion in 2018. All Rights Reserved. Vertical platforms naturally bind like-minded consumers together and lead to strong social communities that are centered around a particular sector or product. Distribution of online retail sales China Q1 2018-Q2 2020, by e-commerce type. 1 in ecommerce, China will overtake the US this year to become the world’s largest overall retail market for the first time. Under the new Consumer Protection (E-Commerce) Rules, 2020, e-commerce companies will have to compulsorily display details about return, refund, exchange, warranty and guarantee as well as the country of … In our inaugural social ecommerce forecast for China, we expect consumers to spend $242.41 billion (RMB1.675 trillion) via social commerce channels this year, up from $186.04 billion (RMB1.285 trillion) last year. Brands may also leverage short-video platforms for content marketing and e-commerce support, such as for analysis of account growth trends and detailed traffic data. Copyright © 2020 by CORESIGHT RESEARCH. This growth (including Alibaba’s first share increase in many years) can be traced to their diversified product offerings and resilient logistics, which enabled them to serve consumers during the pandemic better than their smaller competitors. Shoppers in China spend about US$1,300 online each year. Livestreaming will play a bigger role in e-commerce in 2020, as it enables brands and retailers to market their products to consumers in real time and offers consumers the advantages of limited-time discounts. Trade body Complementary Medicines Australia has organised a series of webinars that discusses market trends and regulatory changes in China's health foods industry. There are around 99 million users of resale-focused apps as of August 2019, according to data firm Getui and the China Internet Network Information Center. Customer Support. Continued growth as one of the China Cross-border e-commerce trends According to a new report from Deloitte , the cross-border channel in China saw a compound annual growth rate of 76% between 2015 and 2018, while generating RMB 78.5 billion in gross merchandise volume (GMV) last year. 0. Group buying will become an efficient method for retailers to reach consumers from lower-tier cities in China, as it offers products at relatively low costs. Cainiao Post offers services such as scheduled deliveries, smart lockers and delivery outlet pickups. As of March 2020, 710 million people shopped online, an increase of 100 million compared to 2018. Coronavirus Cuts Smartphone Sales 55% In China. According to CEO Daniel Zhang, Alibaba’s acquisition of Kaola will further elevate the company’s import service and experience for Chinese consumers through synergies across Alibaba’s ecosystem. This may impact the number of new goods that consumers will buy, potentially affecting total retail sales. Parcel delivery will continue to get faster. November 10, 2020 2 mins read + China’s market regulator has published draft rules aimed at preventing monopolistic behaviour by internet platforms, in a move that will increase scrutiny of the country’s e-commerce marketplaces and payment services. 2020 — 71% of which will come from lower-tier cities, reaching a total of more than 670 million shoppers. Major players will adopt new initiatives and technologies and look to expand into lower-tier cities. Despite media attention, this summer’s Facebook ad boycott did not affect the social network’s ad ... 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As a result, iiMedia Research claims that China’s online grocery market can expect to grow 62.9% in 2020 to 264 billion RMB compared to a 29.2% growth last year. China e-commerce accounts for over 25% of its consumer retail sales in the first half of 2020.. E-commerce is very advanced in China. Considering these shifts in the market, we outline 10 key trends for Chinese e-commerce in 2020 and discuss how brands could capitalize on the changes we expect to see over the course of the year. Live commerce in China is celebrity driven, not by traditional stars of film or television but by online celebrities. Communication in China cannot be separated from social channels. That now appears conservative. China’s e-commerce giants played a major role in keeping supplies flowing and supporting people in quarantine during the two-month lockdown that started in January 2020. Implications for brands: The C2M market in China reached ¥17.5 billion ($2.5 billion) in 2018 and is expected to reach ¥42 billion ($6 billion) in 2022, with a CAGR of 24.4%, according to Chinese research company iResearch. The number of e-commerce users in China rose by 100 million compared with last year, and the number of stores on major online retail platforms went up 3.8 percent year on year, according to the Ministry of Commerce (MOC). 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Viewers are able to purchase featured items while watching a video through embedded online links. Livestreaming will become an even more important sales medium. The short-video industry is thriving in China, where the number of users exceeds 820 million, as of June 2019. The amount of time spent on these platforms has increased by 8.6% year over year from June 2018, totaling more than 22 hours per month, according to QuestMobile. Share on Facebook ... Chinese e-commerce company … The C2M model will allow manufacturers and retailers to produce products according to consumers’ needs. Second il report realizzato da Casaleggio Associati, il comparto e-commerce in Italia nel 2020 ha generato un fatturato pari a 48,5 miliardi. Among which, online sales of goods amounted to 1,123.3 billion yuan, up 3.0% and accounted for 21.5% Cainiao will also set up 100,000 pickup stations through “Cainiao Post,”  a last-mile delivery business of Cainiao, to increase delivery options. During the 2019 Singles’ Day shopping festival, users on Tmall snapped up 170 million C2M products. Additionally, with limited stores in China, consumers will look to daigou to make purchases on their behalf. Disney+ has become a household name after 1 year. On the demand side, consumers are placing increasing importance on sustainability and are therefore likely to shop through recommerce platforms where they can buy second-hand products. That is 7.7 percentage points less than our pre-pandemic forecast but still hundreds of billions of dollars in additional spending compared with 2019. Viewers would then be able to click the label to be redirected to a page where they can explore more content related to that theme. Retailers and manufacturers collect data from customers and use big data to create customer profiles, analyze consumption characteristics and plan production. Here are 10 trends that will shape China’s e-commerce landscape in 2020. By Tingmin Koe 23-Nov-2020 - Last updated on 23-Nov-2020 at 02:12 GMT . This shopping model is attractive for shoppers with a limited budget, especially those in lower-tier cities, as they can join together to take advantage of the lower prices. The rising popularity of KOCs is also partly due to the fact shoppers want to seek advice from everyday consumers. WeChat’s successful Mini Programs are proving to be a game changer for this category, even as China is evolving the very definition of social commerce. 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Alibaba’s Cainiao aims to digitalize and accelerate the entire delivery process by helping logistics firms to deploy Internet of Things (IoT) solutions on a large scale. Alibaba and JD: the e-commerce giants dominating China 1) Alibaba Group. Users are encouraged to spend time on these platforms through the tailoring of personalized content based on their browsing history and preferences, thanks to embedded artificial intelligence technology and algorithms. Implications for brands: Considering that KOCs’ reviews can have a strong impact on customers, it can be beneficial for brands to incorporate them into a broader marketing strategy. One company reported that sales of its “Roaman Xiaoguoshua” electric toothbrush reached 25,000 on November 11. China’s tryst with its own central bank digital currency or the Digital Yuan needs no introduction. Implications for brands: With consumers becoming increasingly sophisticated about their buying options, we expect vertical e-commerce sites to gain traction, as they offer not only product knowledge but also a community where like-minded customers can interact. In May 2020, The State Council approved the establishment of integrated pilot zones for cross-border e-commerce in 46 cities and areas. E-commerce is already a well-established field in mainland China, but in the wake of the COVID-19 crisis, it's more important than ever. The China (Shanghai) Pilot Free Trade Zone was officially launched on 29 September 2013. Just like presenters on QVC, livestreaming hosts sell a wide range of products, from apparel and cosmetics to electronics and cars. Reliable data in simple displays for presentations and quick decision making. How will social commerce fare in 2020? ... POST EVENT: Live e-commerce “Ecco l’Italia” - 6 novembre 2020 . 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