An Overview of the Chinese E-Commerce Market
When China meted out efficient and easily accessible mobile technology topped with equally perfect network coverage, things for ecommerce businesses took a turn. With 788 million people using mobile phones and most of them making purchases through their mobile phones, ecommerce was soon going to become a booming prospect for businesses.
Consumers get an upgrade in their salaries regularly which not only makes them able to spend freely, but boosts China’s ecommerce presence, according to a recent report. The Eastern giant is soaring at a compound annual growth of 38.1 percent—thrice that of Uncle Sam’s—according to a report.
So how does China manage such impressive numbers, especially when the rest of the world is just as tech-savvy as the Chinese?
1. They Really Do Use Their Mobiles for Everything
Almost everyone in the world is using their mobiles for everything—from matchmaking to fraternizing and from making online payments to booking flights. China’s no different—they’ve only been doing it better.
So for instance when an American needs to use Facebook for socializing, LinkedIn to find a client, Skype to make a video call with the client, PayPal for making payments, and Amazon to check if their work has been uploaded yet; in China, all you need is one app. To do all of the above. Easy, quick, and reliable. With such a tool on their hands, the Chinese population are taking to digital buying in droves.
2. Transgressing the Borders
Having taken Edward Said to heart, the Chinese consumer base is busy engaging in across-the-border ecommerce. That is, they’re eager to buy from foreign firms as long as the prices are reasonable and the quality is commendable.
Mass markets have gone down a little in the popularity larder since the consumer base in China has become more aware and more mindful of their product choices. They’re altogether leaning toward more environment-friendly products which can be bought online easily.
Most importantly, finding products which resonate with their personalities is easier online than offline, although the Chinese do engage regularly in offline purchases.
That is not a name for a chemical compound but China’s futuristic “new retail” marketing strategy which merges online marketing with its offline counterpart. The business stays relevant, visible, and popular throughout thanks to this strategy.
5. Fluid Deliveries
Lesser delay in deliveries means more confidence in the online marketing system, and that is what most local businesses have tapped into to gain steady customer support: ensuring same-day deliveries and showing that they’re just as trusty as their offline counterparts.
6. And Finally, Engaging All
Unlike other tech-savvy nations of the world, the senior citizens in China are not left to their own devices to look down upon all this online allure. It’s not just the millennials who benefit from China’s ecommerce but the older generations too.
With services such as sharing of products online between family members and the option to pay for another member’s purchases, senior citizens are jumping on the bandwagon, given how easy it is.
Interested in tapping into the world’s largest ecommerce market? Leave a query here to Limpid Translations, a Chinese language and internet services provider that has helped countless businesses find their stronghold in the local market. They call you back within 24 hours!