By setting up exclusive clubs or groups like WeChat groups, brands can communicate a certain lifestyle and the corresponding products. This cross-border e commerce player offers a large variety of goods, focusing on selling high-quality âWesternâ products to middle-class Chinese customers. High-quality luxury goods from abroad are very popular. In 2019, overall e-commerce transactions exceeded 34.8 trillion yuan, increasing from around 31.6 trillion yuan the year before. As such, Chinaâs e commerce sector is more than three times the size of the US market, which ranks second. Fintech companies in competition with institutions delivering traditional financial services are having a good run. Chinese consumers show a strong preference for omnichannel retail services where they can find the benefits of physical stores combined with the advantages of online shopping platforms, and it seems to be getting more popular with the increasing trust in eCommerce platforms and online transactions. Chinaâs online retail B2C e-commerce market reached 1,526.76 billion yuan (US$226.38bn) in Q4 2018, showing an increase of 28.4% compared to the same period of the previous year. The China e commerce market is the largest in the world with a volume of 1.94 trillion USD in 2019. Western Europe owns three of the top six ecommerce markets, led by the UK ($141.93 billion), Germany ($81.85 billion) and France ($69.43 billion), but as more mature markets, each is growing at year-over-year rates well below the global ecommerce ⦠Chinese consumers love using their smartphones so itâs the ideal place to put data-oriented C2M (Customer to Manufacturer) marketing into use. Tmall relies on its sellers to fulfill the supply chain. Retail e-commerce sales in China is accounted for more than half of the global retail e-commerce sales. Tmall is leading the e commerce landscape with a market share of 50%-60%, JD.com follows with 15%-20%, Kaola and RED and others like WeChat (with their own WeChat store) divide the rest between them. The market is driven largely by millennials who love fast fashion and want to find the best price possible. The China Social E-commerce Market report provides a detailed analysis of the area marketplace expanding, competitive landscape, global and regional market size, growth analysis.It also provides market share, opportunities analysis, product launches as well as recent developments with sales analysis, segmentation growth, market innovations and value chain optimization, SWOT analysis. Purchase the E-Commerce in China country report as part of our internet retailing market research for March 2020. According to the projections, by 2020 e-commerce market in China will be bigger than American, British, Japanese, German and French e-commerce markets combined. China market trends: NMN, e-commerce, livestreaming boosting health foods trade in 2020. 34 Breakdown of the m-commerce market in China Q2 2017, by company . The Chinese internet giants have made a real run to become the best e-commerce platform in China through the development of cutting-edge technologies. In particular, Chinese online banks like WeCash (unrelated to WeChat or Tencent) emerge as startups to bring easy and uncomplicated financial services to individuals and institutions, often incorporating machine learning and AI technology. The number of people who shop online has shown a tremendous growth recently. China offers significant growth opportunities for the market coupled with the trend towards the e-commerce industry and significant demand for smart packaging in the country. Western shoppers may think that the products could have poor quality. China consistently scored number one in three key metrics: largest market by revenue ($636.09 billion in 2018), highest number of online shoppers (1 billion), and the highest number of cross- border online shoppers (149.42 million). In particular, cosmetics, baby products, food, and beverages (organic), high-fashion, and jewelry. Globally, China accounts for more than half (55.8%) of all online retail sales, with that figure expected to rise to 63% by 2022. China is the most prominent leader in eCommerce with a market size three times bigger than its closest counterpart, the US. Advertising in China has never been easier and more complex at the same time. KOCs also act as influencers but are more authentic. Consumers are interested in foreign brands more than ever before. The advancement in online payment methods has paved the way for eCommerce, and vice versa. On 29th August 2020, China Construction Bank introduced its Digital Currency/Electronic Payments(DCEP). 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