dimanche 5 août 2018
4 E-Commerce News in China that you shoud know
Alibaba Spends $2.2B, Looks To Connect With Shoppers In Elevators, Too: Alibaba has spent 2.23 billion for a 10.32% share of Focus Media. Focus runs digital advertising screens on streets, in subways and in elevators across 300 Chinese cities, currently reaching 200 million middle-class consumers. Focus has a medium-term goal of 5 million terminals in 500 Chinese cities reaching 500 million consumers, feeding into Alibaba's New Retail strategy.
Many Chinese Consumers Ready to Boycott US Goods in Trade War: 54% of respondents surveyed by FT Confidential Research in 300 Chinese cities would "probably" or "definitely" stop buying US-branded goods "in the event of a trade war." Just 13% said they would not. Those most likely to shun products are on lower middle incomes, aged 25-29, living in smaller cities. Chinese tourists to South Korea dropped 48.3% in 2017 following a spat with China. Japanese car exports tumbled 32% in the 12 months after China launched a boycott over the disputed islands in September 2012. Whilst Chinese consumers care about where something is made, American consumers do less so, with both consumer groups being a casualty of the trade war.
The New Challenge of China's Emerging Affluent Class: Juggling It All: Traditional motivations in China to "project professional success" are being superseded by Chinese consumers’ desire to manage multi-dimensional roles in their lives, including broadening their horizons and becoming more of a "new generation individualist". With so many competing interests and priorities, Chinese consumers are struggling to balance the demands placed on them - something marketers should aim to address.
Why Rural Officials Can’t Always Lure Millennials Back Home: China’s 400 million millennials are fuelling China’s current ecommerce boom, providing rural entrepreneurs with the opportunity to establish viable businesses and revitalize their communities, which have been left a scant supply of skilled labourers as they migrate to urban areas. But convincing young people to give up city life is easier said than done.
Renowned British Economist Says Rise of Chinese Consumers Crucial for Economic Growth: "Without doubt the rise of the Chinese consumer in my judgement is easily the single most important economic development ongoing in the world," says former Goldman Sachs chief economist Jim O'Neill.