This consumer change has opened the opportunity for many online stores to operate in small niches where competition is less intense and the potential for success is greater. E-COMMERCE MARKET IN CHINA A COMPREHENSIVE GUIDE 2020 Published on Nov 30, 2020 by KUBRA CAMIR, GIRK CAKMAK, OGUZHAN SOLEN, … Walmart said net e-commerce sales in China grew 104% from a year ago in the three months ended July 31. Over the last few years, the number of users who finalize their purchases on smartphones has been steadily growing due to the fact that popular social networks such as WeChat have provided specific tools for shopping on mobile devices (see the next point). At the start of a new year analysts like to predict trends for the year ahead. In June, Ambassador participated in JD’s biggest annual sales promotion of the year, presenting messages about New Zealand, its cultural image, and food sectors. What is remarkably interesting, however, is the specific sales data generated by the E-commerce sector. E-Commerce Trends in China: By the Numbers A presentation by Mary Ransom of Borderfree shows that while the potential for sales is huge, … A recent. Marketing campaigns on social media must be well planned and strategically prepared as explained in the following point. In 2019, the added value of the digital economy accounted for more than one-third of … Over the same period, the U.S. contribution to global online sales is expected to decrease to 15%. Many factors contribute to the belief that in the next few years this market will continue to expand considerably. Low mobile app uptake impacts Hong Kong’s e-commerce market Mobile commerce accounts for over a third (36 percent) of all e-commerce transactions in Hong Kong. There was particular growth in the number of older users, as above. There are a few more conditions that make China more accessible to cross-border E-commerce. This is an indication that Chinese consumers are becoming more sophisticated, which means more opportunities for western brands. WeChat stores, together with WeChat Mini Programs, continue to be an important trend in 2019. 148. This year Pinduoduo’s “global purchase” campaign during the mid-year shopping festival included live broadcasts with representatives of nine European countries. Analysts expect these changes to persist in the long term. Cross-border e-commerce in China holds a specific distinction.International companies are allowed to sell certain goods to Chinese consumersonline, through platforms such as Alibaba’s Tmall Global and Kaola, atpreferential duty rates and without a license to operate a business in China. Share this articleto spread your knowledge. This trend may put smaller companies with limited resources in trouble. Growth was largely driven by increased demand for groceries, medical supplies, and other consumer essentials. However, simply having a presence on WeChat is not enough. During the same period, online restaurant orders and purchases of luxury items declined, but this was more than offset by the volume of demand for ‘stay at home’ products. China E-Commerce is really a universe in & of itself (hence the shameless Hitch Hikers Guide reference). E-commerce is an increasingly significant component of China’s economy, with around one third of all goods sales currently done online across a range of large and small platforms, or directly through social media such as WeChat. Chinese consumers are strongly attracted to big brands or what are known as super-brands. Clearly, they cannot be ignored by E-commerce businesses. Chinese consumers continue to show great interest in high-quality foreign products. What makes the Chinese market exceptionally attractive is not only the statistical data but also the consumer behaviours of the Chinese. This point refers, not to the browsing speed of your E-commerce site, which is very important also, but to your delivery speed. For example, short videos, live streaming events, games on WeChat, and influencers have all been very well received by their audiences. Alibaba also began supporting export-focused SMEs to expand into new foreign markets by providing fee reductions and fast-track processing. How big is Chinese ecommerce going to be in three to five years? China Rural e-commerce has been particularly successful in China. Given the new regulations for online shopping abroad implemented at the end of 2018, this is also an excellent opportunity for cross-border E-commerce. The opinions and analysis expressed in this report are the author’s own and do not necessarily reflect the views or official policy position of the New Zealand Government. In response, various agencies rolled out measures to further support the growth of e-commerce. The penetration of ecommerce in China has reached 71.1% of the total Chinese population. Domestic and international analysts are now increasingly optimistic that sales of discretionary products will soon return to pre-COVID numbers as consumer confidence recovers. The growing importance of cross-border e-commerce to China’s economy (and government) has potential benefit for New Zealand exporters, particularly SMEs. 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. 42% of the world’s eCommerce transactions happen in China, up from 1% in 2005 - a market larger than the U.S., the U.K., France, Germany and Japan combined. The Chinese e-commerce sector is diverse, with many large and small platforms and as such diversifying New Zealand businesses’ current approach beyond large e-commerce platforms is an important future goal. Thus, an investment in this direction is highly recommended. All major companies use WeChat Mini Programs intensively with excellent results. China’s retail sales in 2019 will exceed the U.S. total sales by more than $100 billion. E-commerce companies sought to capitalise on the opportunity presented by the COVID-19 outbreak to secure additional customers and merchants for the longer term, with Alibaba, Pinduoduo and JD.com all subsidising deliveries and waiving commission rates. It should also be noted that the former Tier-1 cities E-commerce market is also consolidating in non-Tier-1 cities. E-commerce is an increasingly significant component of China’s economy, with around one third of all goods sales currently done online across a range of large and small platforms, or directly through social media such as WeChat. 288 Yuyao RoadJingan District, Shanghai, China, 7 New Chinese E-commerce Trends to Watch in 2019, Top Three WeChat Features to Engage with Your Customers. This included a shift towards products normally consumed in restaurants – premium, easy-to-prepare meals with fresh or live seafood, chilled meats and wines. With tools for fast and secure online payments being integrated into these social platforms, it has further encouraged consumers to use mobile shopping to a greater extent. It is estimated that e-commerce in China will be worth US$540 billion by 2015, and by 2020 worth more than e-commerce in the U.S., the UK, Japan, Germany and France combined. 12 Trends in the China E Commerce Market in 2020. Among the niches that have seen considerable increases in sales in 2019 are the fresh-food, health, and nutrition industries. For example, sales volumes can change much more rapidly in response to consumer preferences and fears, a phenomenon seen in China when imported seafood was linked to the June COVID-19 cluster in Beijing. Despite an overall decline in domestic Chinese consumption in the first half of the year, the volume of online retail in China increased, driven by greater demand for groceries, medical supplies, and other consumer essentials. This is becoming more evident as an increasing number of foreign operators are trying to carve out their own space within it. Thus, expanding the consumer base in China. It also lowers thecost of doing business in China. Since 2016, sales made via mobile devices increased by 15%. According to Pinduoduo’s statistics, purchases of global products in this period increased by more than 470% compared with the previous year. Cross-border e-commerce is an increasingly important part of this expanding sector, valued at US$26 billion. 1. Mobile shopping is the best way to meet this demand. 50 brands joined the promotion, offering nearly 300 products sourced directly from New Zealand including meat, wine, wellness products and fruits, among many others. Below we have listed the most important E-commerce trends in China that will help you plan your sales strategy in China. Over the last years, this trend has seen a reverse – imports are becoming more and more relevant. In addition, the State Administration of Foreign Exchange (SAFE) issued a ‘Notice on Supporting the Development of New Trade Models’, which, among other adjustments, relaxed foreign exchange restrictions for cross-border e-commerce. Online sales will increase by 30% in 2019, representing 35.3% of total retail sales. Alibaba users grew to 695 million in May (up 20%) and Pinduoduo, the second-most popular e-commerce platform, grew its users by 40% to a total of 471 million. With 2019 entering its second half of the year, the statistics collected thus far concerning the health status of E-commerce websites in China have not disappointed expectations. The regulation also applies to goods shipped from Hong Kong or free trade zones in China. As consumer confidence returns and spending on discretionary goods increases, the importance of e-commerce in China will further accelerate. The Chinese audience loves a shopping experience that is simple, practical, and fast. With over 10 years of experience in the Chinese market, QPSoftware is a ecommerce agency located in Shanghai we can support your E-commerce business as it claims its share of the Chinese market. China's e-commerce platforms all significantly grew their user base in the first half of this year. China's online grocery market is forecast to grow, by some estimates, by more than 60% in 2020 – twice the rate of the previous year. According to Jiguang’s report at the end of November 2018, the total number of online shoppers using Chinese ecommerce apps installed on their mobile devices grew from 207 million to 783 million within just one year. Digital development in China happened within the confines of the ‘Great Firewall’, this barrier for external online services created a vacuum for the fascinating and unique E-Commerce infrastructure we see today. We forecast that retail ecommerce sales will maintain strong growth through the end of our forecast in 2023. Top 5 Must-Have Solutions for the Perfect Omni-Channel Journey. China’s rise as a global leader in e-commerce has been nothing less than stunning. The Chinese Government has been a strong supporter of growing the e-commerce market as a way to maintain domestic consumption during the global pandemic. Let's look at five e-commerce trends that will mark the Year of the Rat. China’s Rising Digital Influence The world leader in digital commerce will unleash its shoppers and technologies on the world. Here are 10 trends that will shape China’s e-commerce landscape in 2020. The eCommerce market encompasses the sale of physical goods via a digital channel to a private end user (B2C). These are still considered sub-niches, but considering the size of the Chinese market, there is an audience big enough to generate large numbers of consumers within the E-commerce of these sectors. These figures are especially important when considering the potential of this market. 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. E-commerce giants Taobao and JD.com and live streaming companies Kuaishou and SoundCloud cookie policy. To this end, China’s State Council recently announced plans to almost double the number of cross-border e-commerce integrated pilot zones in several different regions (bringing the total number of zones to 105), with President Xi Jinping calling this “part of China’s plans to accelerate the growth of globally-oriented e-commerce”. This was despite a 16% decrease in overall retail sales (offline and online). A “New Zealand National Products Festival” was held in May on JD.com – a one-week shopping promotion for Chinese consumers to purchase New Zealand products. China: Revenue in the eCommerce market is projected to reach US$1,117,204m in 2020. Companies that do not fall into these categories must work to create their own branding and educate their audiences about their products. With the year well underway, keep an eye on the following four performance marketing e-commerce trends in China over the coming months. Some companies with an established market in China, for example, have opted to establish warehouses in Hong Kong or in free trade zones in order to compete with this trend. In the longer term, market analysts expect that many of the changes in consumer behaviour observed since the outbreak of COVID-19 will have lasting impacts on China’s e-commerce market. Worldwide, the Chinese market in 2019 will produce 55.8% of global online sales and this figure is expected to reach 63% in 2022. E-commerce channels are increasingly an attractive way for New Zealand businesses to enter the Chinese market, and in some circumstances can be a lower-cost option and a way to avoid certain regulatory hurdles. The growth of mobile commerce has been noteworthy. Taobao – owned by alibaba.com – offers e-marketplace to rural e-tailers in China, and has been instrumental in transforming rural areas in the country (Techcrunch Users who buy online currently account for around 42% of total consumers and their numbers are continuing to grow. Opening Your Mobile Store in China—What are the Best Options? These tools are especially appreciated by smaller brands that manage to acquire a market share in China without having to open an official website in China. This trend is also expected to accelerate as a result of the COVID-19 outbreak, and with increased government impetus. When 2014 began there was a slew of predictions about the ecommerce landscape in China. The emergence of China's e-commerce market inaugurated a new era of the country’s economy. Consequently, it is good to do what you can to optimize your operations and make the shipping process as fast as possible. Whatever marketing tool you decide to use, the key point is that you must find a way to differentiate yourself and stand out from the crowd. The C2M market in China reached US$2.5 billion in 2018 and is expected to hit US$6 billion in 2022, according to iResearch. Having a warehouse located in these areas will enable your company to benefit from the new regulations on spending limits on cross-border E-commerce (see point #1). Cross-border e-commerce is responsible for a growing share of China’s foreign trade. China’s online sales increased by almost 9% over the peak COVID-19 period (February-May), to a total value of US$365 billion. This data is essential when planning your operations in this market. Built on a philosophy of talented people and great results, QPSoftware LTD is a results-driven, full-service digital agency in Shanghai specializing in website design, WeChat/Mobile app development and digital marketing. The new regulation has increased the maximum spending limit for single purchases to RMB 5,000 and a maximum of RMB 26,000 per year. This alone represents a massive potential for every business. We compared the Chinese and American E-commerce markets using statistics collected from official sources such as e-Marketers. The data confirms that in 2019, China will become the largest retail market in the world. As one example, at the peak of the virus control measures, online food delivery market leader Meituan. This middle class continues to grow and is especially inclined to shop online, mainly when the shopping experience is fast and easy. Thus, further expanding the market for E-commerce operators. There were 112 national e-commerce demonstration bases in China last year with transactions reaching 5.37 trillion yuan (US$790 billion), up 21.6% on a … Critical to success is understanding how to sell in China and the marketing mechanics in this part of the world. The Chinese government is lowering tariffs and restrictions on cross-border E-commerce companies. Contact us today and we will explain how we can help your operations in China to succeed. E-commerce in such zones is subject to a set of preferential policies, including the exemption of retail export goods from VAT and consumption taxes. This trend is also spreading into Tier-2 cities where the middle-class is gaining more purchasing power. And in terms of the overall future of e-commerce, Wang said Alibaba believes that new retail will be experience-focused, such as its Alibaba pop-up smart store. Major players will adopt new initiatives and technologies and look to expand into lower-tier cities. In particular, the shift to purchasing essential products online will likely continue, with estimates showing China's online grocery market will grow by more than 60% to $US38 billion in 2020 (a doubling of last year’s 29% growth rate). QPSoftware has helped many companies to enter this market using the right E-commerce platform and developing social media solutions that resonate with the local audience. Cross-border e-commerce is an increasingly important part of this expanding sector, valued at US$26 billion. The Chinese consumer is getting used to surprisingly fast parcel delivery times and many large brands are adjusting their delivery systems, making them faster and more efficient. In 2019, retail ecommerce sales will expand 27.3%, reaching $1.935 trillion, or 36.6% of total retail sales. China posts, led by NZTE, are working to ensure New Zealand is taking advantage of these changing trends, for example: A dedicated New Zealand wine pavilion was launched on JD.com earlier this year. Even before people were forced to spend more time at home, there were two key trends in China radically changing e-commerce, by adding entertainment … Known for its innovative and dynamic nature, China's e-commerce market is estimated to be worth more than 1000 billion dollars by the end of 2020. Currently, Chinese users expect a brand to have a presence on WeChat. This is part of a policy intended to attract more foreign investors in China and this makes China more accessible to many companies. China’s Ministry of Industry and Information Technology (MIIT) announced plans to accelerate digital infrastructure development, including speeding up the rollout of 5G networks and increased funding to innovation. Although the data confirms that the Chinese E-commerce market has incredible potential, it remains a highly competitive market. Now that it’s half way through the year I want … Businesses need to develop the right solutions for this specific audience; keeping in mind the makeup of the Chinese consumer. It is equally important to understand the right mode of entry into this highly competitive market as well as the habits and preferences of Chinese users. However, recently we have seen companies leaving large marketplaces and establishing their own platform. This is another sign that Chinese consumers are now ready to trust smaller companies with strong branding. Surpassing the U.S. which held the record until 2018. Don’t forget to give us your ! Prepared by the New Zealand Embassy in Beijing, China: Changing Trends in E-Commerce - 17 August 2020 - PDF [PDF, 270 KB], If you would like to request a topic for reporting please email exports@mfat.net. Analysts expect that additional policies related to cross-border e-commerce will be unveiled later this year. SHANGHAI – China is currently experiencing huge growth in e-commerce. Luckily, strong GDP growth and the second largest economy in the world indicate that China is already poised to receive plenty of good fortune this year — especially in performance marketing and e-commerce. We already mentioned that the middle-class is growing, as well as their purchasing power. China continues to be the most attractive market for online traders, especially for cross-border E-commerce. Online sales will increase by 30% in 2019, representing 35.3% of total retail sales. It comprises a growing share of China’s total foreign trade, contributing 5% of 2019’s overall foreign trade growth. By the end of 2021, 73% of ecommerce sales will take place on a mobile device (Statista, 2019). There remains significant room for business-to-consumer online retail to expand as many rural areas of China remain unconnected (China’s overall internet penetration. In addition to stimulating domestic consumption, the Chinese leadership increasingly views cross-border e-commerce as a partial buffer for international trade shocks. McKinsey & Co. has produced a report suggesting that the market will be between US$420bn and US$650bn by 2020. Cookie policy. The increasing importance of the Chinese e-commerce sector will create more opportunities for New Zealand businesses, in particular SMEs looking for low-cost options to enter the Chinese market. The development that the Chinese E-commerce market has undergone in just the past few years has been amazing. China’s expanding e-commerce market and drive to increase cross-border transactions has created opportunities for foreign businesses (often with the support of their governments) to work with e-commerce companies to promote their products to a Chinese audience. These tools are linked to the popular social network WeChat and allow, not only the selling of products online, but they also allow for the creation of effective marketing campaigns to acquire and retain customers. Posts in China have been undertaking a range of activities this year to help New Zealand businesses better understand and take advantage of these changing trends. In May, Premier Li Keqiang led calls to enhance internet infrastructure (including 5G networks, cloud computing, artificial intelligence, and blockchain technology) to stimulate digital consumption. In addition to NZTE’s ongoing work to expand capacity in this area, the bilateral e-commerce arrangement signed in 2017, and the e-commerce Chapter in the China-New Zealand FTA upgrade are both frameworks for cooperation with China to further support bilateral trade through e-commerce channels. QPSOFTWARERoom 406, South building,No. As a result, the Brookings Institute. Conversely, e-commerce channels come with risks that traditional trade does not face, which exporters need to take into account. China’s COVID-19 outbreak coincided with Chinese New Year, a time when most retail stores were closed, meaning “panic buying” of essential goods occurred largely online. As always, New Zealand businesses need to be agile, realistic, and do their own due diligence when considering paths to the Chinese market. China e-commerce insights China’s e-commerce market, is worth a trillion-dollars, and offers ongoing e-commerce growth potential via the large section of its population that is yet to embrace online shopping. For those considering entering the Chinese market, it is important to know the composition of this market, as well as its economic forecasts for the coming years. GoBeyond.AI: E-commerce Magazine That's a faster pace than the 97% growth posted for net e-commerce … The COVID-19 outbreak in China accelerated the existing trend of increasing reliance by Chinese consumers on e-commerce platforms, and also expanded the user base to an older demographic. When considering the stagnancy of many western markets, there are plenty of reasons for E-commerce businesses to take advantage of the Chinese market. This year, online retail sales are expected to swell to $1.5 trillion, representing a quarter of China’s total retail-sales volume, and more than the In the past, China was known as the “world factory”, exporting high-quality fashion, sneakers, electronics, and more. Worldwide, the Chinese market in 2019 will produce 55.8% of global online sales and … For example, JD.com's mid-year “618 Grand Promotion” shopping festival showed an increased transaction volume of 74% compared to the previous year, with grocery sales in particular rising 140%, indicating many consumers have continued this habit post-lockdown. Sales statistics provided by e-commerce companies show that consumer confidence appears to be slowly rebounding, with Chinese consumers still preferring e-commerce channels to ease their pent-up demand for products, a phenomenon dubbed “revenge consumption” on Chinese social media. In particular, live-streaming sales events on e-commerce platforms and social media are increasingly popular. Compared with home delivery meals, which were impacted by safety scandals, cooking at home has developed a healthier impression among Chinese consumers. In this article, we have collected some particularly interesting data regarding online commerce in China as well as new E-commerce trends in China in 2019. The future for E-commerce companies in China still looks bright. These figures can’t be ignored. The main lockdown period (February-May) further entrenched consumer reliance on online retailing, and also drew in a larger portion of the older demographic. Not long ago, the E-commerce market was dominated by huge online retailers like Tmall, JD Worldwide, and so on. Over the same period, online sales in the U.S. will only account for 10.9% of total retail sales. China: Changing Trends in E-Commerce - 17 August 2020, Brokering weapons and dual-use items for military use, Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Our aid partnerships beyond the Pacific and South-East Asia, New Zealand's Universal Periodic Review 2019, Guidelines for the diplomatic and consular corps, Our Commitment to Antarctica and the Southern Ocean, China: Changing Trends in E-Commerce - 17 August 2020 - PDF. Just as the 2003 SARS outbreak was a significant contributor to the rise of Chinese e-commerce giants Alibaba and JD.com, COVID-19 has already had a profound impact on the Chinese e-commerce sector. In 2019, China’s live streaming e-commerce market size reached RMB 434 billion (US$61.24 billion) with a year-on-year growth of 226 percent. This information released in this report aligns with the provisions of the Official Information Act 1982. Asyou can imagine, that’s a significant reduction in red tape. E-commerce trends during COVID-19 Pandem ic Anam Bhatti 1, Hamza Akram 2, Hafiz Muhamm ad Basit 3, Ahmed Usman Khan 4, Syeda Mahwish Raza Naqvi 5, Muhammad Bilal 6 … That said, those in China who already use e-commerce are highly sophisticated shoppers. This phenomenon is affecting even non-Tier-1 cities. 2) JD.com Fortune Global 500 company Jingdong (JD.com) has continued to grow within China’s e-commerce market with its multiple retail acquisitions, and retail tech and supply chain innovations. For this reason, marketing in China is very important, and above all else, it needs to be very creative. In 2019, many brands experimented with new approaches in marketing and often received more than satisfactory results. The Ministry of Foreign Affairs and Trade and the New Zealand Government take no responsibility for the accuracy of this report. E-COMMERCE IN CHINA: OPPORTUNITIES FOR ASIAN FIRMS OAP-16-24.E v Acknowledgements This document is based on the research conducted by Dr. Jian Wang, Chair Professor of International Business and e-Business Over the same period, online sales in the U.S. will only account for 10.9% of total retail sales. We expect 2020 to be a year full of innovation and expansion in China’s e-commerce market. This has allowed niche sectors such as health and nutrition to carve out an important share of the market. In 2019, however, Chinese consumers began to pay attention, not only to the most renowned brands, but they also began to notice quality products that focus on specific consumer needs. Just consider that the number of online shoppers is expected to reach almost 1 billion by 2022. Despite the constant calls for a slowdown in its domestic economy, the Chinese market is still one of the most profitable markets on the international level. 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