E-commerce Archives - Page 2 of 2

E-commerce on Kuaishou

October 9, 2020

Kuaishou is one of the most famous short video apps in China having more than 200 million daily active users. 80% of the users were born after 1990, among which the average usage time can be around 60 minutes per person per day. Moreover, 19 million people have started to earn regular cash flow from Kuaishou. Looking at the overall user distribution, users in first-tier cities only account for 10%, while users in second and third-tier cities are the main users of Kuaishou.

People record, edit and share their lives through photos, short videos, and live streaming almost every day. E-commerce focuses on turning offline sales into online ones, so Kuaishou has made it possible to turn offline operation mode online with the help of live streaming and short videos.

The rise of short video e-commerce on Kuaishou benefits from three factors:

Social Participation

People on Kuaishou make high-quality videos and regular quality live streams that receive a lot of social support that turns into profit. There are 4 ways to enable people to participate on the platform:

1. Advertising on short videos, which is a consistent way of generating income but does not guarantee audience interest in the product or conversion.
2. Short video e-commerce, which provides value to the products, instigating people to make a purchase just on the product merit. This ensures conversion but lacks a little bit of customer retention and resale.
3. Live streaming profits, which are probably the most effective way of conversion, customer interaction and trust-building, which in turn also increases the chances of resale.

Transparency of Products

With the help of short video and live-streaming, consumers can get a better look at the goods and their source, while sellers can show the characteristics of different products in the videos or streams. Kuaishou always insists on promoting activities related to brand traceability so the buyer is satisfied with the seller and the product before making the purchase.

Sales Platforms

Kuaishou can connect itself with third-party e-commerce platforms like Taobao, Pinduoduo, and JD by taking advantage of the platform’s interoperability. This helps leverage an already existing e-commerce platform on Kuaishou to enforce a better and more familiar user interface while cutting down on the maintenance and development time.

An Overview of the E-commerce Market in China

September 18, 2020

China is at the top of the e-commerce market with its big players like Alibaba and JD.com.

It has more e-commerce activity than any other country in the world. In the year 2017, China’s e-commerce expenditure was more than $750bn online – more than the UK and US combined.

While some sectors of the economy struggle for survival in a sudden, new, harsh reality, e-commerce is faced with massive demand. Since many of us are confined to our homes, we mostly rely on online shopping, leading to great innovation in e-commerce. There are two key trends that are transforming e-commerce in China by adding entertainment to the mix: social buying and live commerce.

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How WeChat boost E-commerce in China?

February 9, 2018

WeChat is one of the most widely used apps in China. With over 900 million users, the app has been making waves in China with their constant innovations and updates!

It’s only natural that the most popular app has somehow affected the purchase behavior of users online.

Let’s see how WeChat has impacted the Digital consumer trends –

Mobile

Mobile has become the most popular device for online shopping in China. Around 84% of consumers have made their purchases from a mobile device in 2017 whereas it was 71% in 2015.Since the majority of the sales are made on mobile, brands must be able to advertise and engage with users on the platforms they frequent the most.

Social Media

In an era where social media is everything, it plays a huge role in affecting the purchase behavior of users. Brands are starting to understand the true potential of social media and they are focusing their energies towards reaching out to potential customers on digital. 51% of consumers open push notifications sent from a brand’s official WeChat account. 27% consumers indicate that they tend to buy more after receiving those notifications.

E-commerce

The demand for E-commerce in China has been increasing rapidly and acts as a key catalyst for retail. Infact, the growth in E-commerce has been surpassing the growth in offline retail. Last year, online sales grew by 28% whereas, offline sales only increased by 5%.

E-commerce across borders

E-commerce is not only seeing an increase within China, but also in international purchases. The percentage of customers that buy from overseas website have risen from 34% in 2015 to 64% in 2017. Young shoppers from 18-35 years are the leading force behind this surge.

With this huge untapped potential for rise in E-commerce, it would be interesting to see how brands are leveraging WeChat to achieve their goals.