How will social commerce fare in 2020? Relationship-based marketing approaches are set to proliferate in 2020: KOC marketing features consumers sharing their experiences of using products and vertical marketplaces offer engagement opportunities to shopping communities. Especially in south China, many families have the habit now of drinking herbal tea," Yu said. Alibaba launched its flash-sale and group-buying platform Juhuasuan in 2010. Livestreaming will become an even more important sales medium. For instance, new parents look for advice from their friends and other experienced parents in the selection of parent-and-baby products. They offer brands an additional online platform to market and sell their products, and users can perform similar functions without having to download a separate app. Coronavirus Cuts Smartphone Sales 55% In China. For more on what’s coming in retail in 2020, see the Coresight Research reports Retail 2020: 10 Retail Tech Startup Trends and Retail 2020: Five Forces, 10 Trends in Global Retail. The ever-changing China health foods industry is seeing new waves of trends, with a sudden interest in nicotinamide mononucleotide (NMN), the prevalence of livestreaming in product marketing, and the potential for further e-commerce growth. One of these has gained 14,500 likes and a few hundred comments as of December 6, 2019. 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The reports show that the expected China eCommerce market growth for 2020 is at 20.1%. The eCommerce market encompasses the sale of physical goods via a digital channel to a private end user (B2C). In October 2019, TikTok added a new e-commerce feature called Marketing Label, which assigns alabel to content in order to help retailers target consumers who want to search for products. This equates to almost 46% of the total sharing economy market in China in 2020 (¥2.7 trillion as estimated by the Sharing Economy Work Committee of the China Internet Association). Livestreaming offers brands a means to boost sales and increase brand awareness. 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. While it makes sense to avoid the stock after … Vertical marketplaces are e-commerce platforms on which goods and services are sold to specific groups of customers, who can then engage with each other through the online community. As a whole, the industry was projected to reach roughly US$1 trillion in 2020, up from US$ 862.3 billion in 2019. Live commerce in China is celebrity driven, not by traditional stars of film or television but by online celebrities. Implications for brands: New technology will power the further acceleration of deliveries in China. What Products Do Young Chinese Women Purchase Most Online? 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. Same-day delivery would then be possible for a broader range of products. WeChat, the pioneer of mini-programs, reported it had 700 million users as of July 2019, and they used mini-programs 42.6 times per month. China’s consumer-to-manufacturer (C2M) model will become a new driver in e-commerce development, helping businesses to better address consumers’ needs and achieve sales growth. Livestreaming became a bigger influence on consumer shopping behavior in 2019, and it will continue to play an increasingly important role in China’s e-commerce market in 2020. 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. The Group was founded by Jack Ma, who stepped down from his position of chair during the recent milestone. E-commerce platforms will increasingly embrace group buying in 2020, which offers products and services at significantly reduced prices if consumers buy in large quantities. 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. Learn more about Coresight Research Subscription Membership tiers and benefits, including access to: Insight Reports, Deep Dives, Store Closure Reports and Sector Overviews. Major e-commerce players are launching group-buying platforms to tap into this segment of shoppers: These players performed well during the Singles’ Day shopping festival in 2019: Juhuasuan reported that 576 products received more than 10 million orders within the first two hours; JD.com said that 40% of its new customers came from Jingxi; and Pinduoduo sold more than 1,000 cars within the first 16 minutes of November 11. Despite media attention, this summer’s Facebook ad boycott did not affect the social network’s ad ... 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This may impact the number of new goods that consumers will buy, potentially affecting total retail sales. Can it take on Netflix? Register for a free user account to leave comments and access more research– including Company Earnings, Company Profiles and Presentations. July 2020 $ 4950 E-commerce Plastic Packaging Market - Growth, Trends, Forecasts (2020 - 2025) August 2020 $ 4250 The Environmental Impact of E-Commerce 2020 January 2020 $ 2150 > View more reports . The Chinese government has supported the growth of the e-commerce market during the outbreak as a way to maintain domestic consumption and boost cross-border trade, introducing a number of new policy initiatives in the first half of 2020 – including a near-doubling of the number of e-commerce pilot zones. Key opinion consumers (KOCs) are average consumers that create videos and posts to share their own product reviews and recommendations. We expect 2020 to be a year full of innovation and expansion in China’s e-commerce market. The Cross-border E-commerce Forum of the 2020 China E-Commerce Convention, themed in integration, contribution and … The 10 eCommerce Trends That Will Define 2020: Amazon hits a wall, China’s rising digital influence, in-store facial recognition, in-fridge delivery, malls China releases draft rules for e-commerce platforms. Coresight Research daily insights and events delivered directly to your inbox. It will also help the company to diversify Tmall’s business model, which largely involves inviting foreign brands to launch online shops on its site—Kaola mostly purchases a variety of goods directly from foreign merchants in bulk and then resells them to Chinese consumers. Through the adoption of 5G technology, logistics providers will be able to provide more efficient and faster deliveries. Consumers will spend $2.090 trillion (RMB14.440 trillion) on retail ecommerce this year, an increase of 16.0%. U.S.-China tensions have Chinese e-commerce stocks in focus right now, but these top names promise to be hot for years to come. ... POST EVENT: Live e-commerce “Ecco l’Italia” - 6 novembre 2020 . E-commerce sales grew 21.2 percent in China last year to 16.2 trillion yuan, the state news agency Xinhua has previously reported, citing the consultancy iResearch. Livestreaming will become an even more important sales medium. In addition to the increase of mobile Internet users and the continuous improvement of online business services, the COVID-19 pandemic seems to be playing a role in the solid rise of the China eCommerce market as well. Here are 10 trends that will shape China’s e-commerce landscape in 2020. Across China: E-commerce brings vitality to rural life in east China's "Taobao Village" 0 Comment(s) Print E-mail Xinhua, November 13, 2020 Adjust font size: Cross-border e-commerce will be consolidated through Alibaba’s acquisition of the Kaola platform, further solidifying the company’s dominance in the online sector. During the 2019 Singles’ Day shopping festival, users on Tmall snapped up 170 million C2M products. PPP SMALL BUSINESS LOANS [SECOND ROUND UPDATE]: How $525 billion in coronavirus-linked loans were ... Chip launches high interest rate account to attract savers, The government is helping keep virtual care around for the long haul, Younger adults' hunger for convenience might not translate to high telemedicine usage, Chase, Lloyds reportedly mulling Starling purchase, Major US banks plan to keep most branches open despite spiking COVID-19 cases, The Coalition for a Digital Economy (Coadec) publishes UK roadmap to open finance. Short videos are typically 10–20 seconds in length and feature a variety of fun content, ranging from lip-syncing to songs to interactions with pets. People load a truck with packaged pomegranates with workers in Zhangguan Town, Huili County, China's Sichuan Province, Sept. 18, 2020. We expect 2020 to be a year full of innovation and expansion in China’s e-commerce market. A very protected market, China has spurred the development of multiple local players who are fighting for domestic market share and gearing for global expansion. In 2020, we expect logistics providers to offer faster delivery by upgrading their logistics infrastructure and increasing capacity at bonded warehouses. WeChat mini programs now support augmented reality (AR), which overlays virtual imagery onto the physical world. Livestreaming and short videos are providing modern means for retailers and brands to interact with consumers and promote their products. We will see a shift from KOL marketing to KOC marketing. 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. Major players will adopt new initiatives and technologies and look to expand into lower-tier cities. Brands can use mini programs as supplements to, not substitutes for, large-scale e-commerce platforms. Cainiao plans to connect 100 million smart devices to its IoT technologies between 2020 and 2022, including its warehouses, delivery robots and algorithm-backed management systems. Una crescita del 17% rispetto all’anno precedente. Major players will adopt new initiatives and technologies and look to expand into lower-tier cities. E-commerce is a key pillar of China’s consumer economy. Livestreaming sessions host real-time broadcasting of video content by presenters such as social media influencers that model or try out products. Mini programs will supplement shopping platforms for brands. We will see a changing landscape of cross-border e-commerce. E-commerce in China is difficult to forecast because things are changing so fast, but Tmall is the most important one. Mini programs offer advantages for brands looking to penetrate lower-tier markets, as shoppers may have cheaper data plans and lower storage on their phones and are therefore more reluctant to download new apps. KOC marketing is actually one of the key components of Perfect Diary’s marketing plan that has helped it to become one of the top cosmetics brands in China. Through the latest social apps, these shoppers can now watch videos and reviews from more-experienced shoppers before making purchase decisions. A surge in e-commerce in China has driven up Alibaba's revenues and shares this year, making it one of the world's most valuable companies [File: Gilles Sabrie/Bloomberg] 6 Nov 2020 … The first of this type was Armani’s cosmetics mini program, which allows users to test the appearance of different makeup items, such as various shades of lipstick, through users’ self-facing camera on their cell phones. For instance, during Singles’ Day 2019, Taobao’s top livestreaming host, Viya, held an eight-hour livestreaming session that engaged a total of 43.15 million buyers. Group buying will continue to grow as major e-commerce platforms launch their own group-buying functions. Consumers in these areas tend to be more price sensitive and are likely to look for bargains. In 2019, livestreaming accounted for almost 9% of total e-commerce sales in China ($723 billion as estimated by Statista) or roughly 1% of total retail sales of consumer goods, based on data from the National Bureau of Statistics of China and Coresight Research estimates. Disney+ has become a household name after 1 year. China’s retail market is expected to decline for the first time on record. Vertical platforms are providing better content that helps users to make buying decisions. 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 … In 2020 e-commerce sales are expected to reach 30% of retail sales, according to China’s Ministry of Commerce. 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. 08 November 2020. Mini programs operate within apps such as Alipay, Meituan and WeChat. In October 2020, China's total retail sales of consumer goods reached 3,857.6 billion yuan (about US$585.65 bn), up 4.3% year-on-year, 1.0 percentage point faster than that of the previous month. This sales medium is similar to television shopping—think QVC—but upgraded for the 21st century. Having said that, China is an enormous country made up of many different consumer segments. 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. Group buying also gives retailers a good opportunity to clear inventory. Cross-border trade in Heihe, China's northernmost free trade area adjacent to Russia's Blagoveshchensk, has remained stable this year. 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