Social Commerce Archives | Eggsist | IT advisory firm in China - Internationalization and software development

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#ChineseMarket #Alipay #ChinaIndustry #ChinaMarketing #DigitalSolutions

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China Gaming Industry

CChina’s gaming industry remains a global powerhouse, boasting significant growth in mobile gaming revenue and expanding international presence. Super apps such as Alipay are diversifying their services to include gaming experiences across China.

🎮 China takes the top spot for number of gamers, totaling 668 million people. From 2024 to 2029 the Chinese gaming sector is expected to grow sustainably from £58.18 billion to £84 billion.

💻 Alipay has ventured into the gaming realm by introducing its mini-game platform, aiming to enrich user interaction and broaden Alipay’s scope beyond financial services. This move opens up new opportunities for game developers and players thanks to Alipay’s large user base.

📱Mobile gaming reigns supreme among Chinese gamers, accounting for 66% of their total spending on games. Chinese game studios dominate the global mobile gaming market, capturing 47% of the revenue share worldwide.

👇 To read the full article click here 👇

This article was first published by China Briefing, which is published by Dezan Shira & Associates, a Partner of EGGsist. The firm assists foreign investors throughout Asia and maintains offices in China, Hong Kong, Vietnam, Singapore, Indonesia, Thailand, Malaysia, Philippines, Russia and India. Please contact info@dezshira.com or visit the website atwww.dezshira.com.

📲 Do you want to know how to expand your business into the Chinese digital landscape? Follow and contact EGGsist to build digital journey!

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#ChineseMarket #Alipay #ChinaGamingIndustry #ChinaMarketing #DigitalSolutions

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China’s anti-aging market is booming !

China’s anti-aging market is booming due to factors like an aging population, increasing wealth, and cultural emphasis on youthful appearance. This growth spans skincare innovations, medical procedures, and supplements, offering significant opportunities for both domestic and foreign players amidst evolving regulations and consumer trends.

— to read the full article click the image below👇

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#digitalpayments #digitalstrategy #marketingcampaigns #chinadigital

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‘Get to know asian consumers’

The article ‘Get To Know the Asian Consumers of 2024’ posted recently on Retail in Asia website, discusses the findings of a survey conducted across Asian markets focusing on the perceptions of luxury brands among Asian consumers amidst global instability and economic uncertainties.

Major trends that emerged from the report:

🛍️Value Appreciation: There is a shift in the luxury paradigm in Asia, emphasizing quality, brand reputation, and resale or investment value. Asian consumers prioritize quality, with a significant focus on brand reputation and a growing awareness of resale value. Mindful consumption is also emerging, with consumers acquiring fewer products but placing importance on those with perceived resale value.

🛍️Quality of Service: Asian consumers expect special perks and tailored experiences from luxury brands during their shopping journeys. There is a willingness to accept rising prices if brands deliver on product quality. However, preferences for perks and acceptance of price increases vary across markets, highlighting the need for tailored service levels to meet diverse consumer needs.

💴Pricing Alignment: Consumer preferences for online shopping differ between favoring brand official websites and multi-brand online platforms. Some markets prefer brand official websites for direct brand engagement and authenticity, while others prioritize multi-brand platforms for choice, pricing, and convenience. Preferences also vary across product categories, with beauty leaning towards multi-brand platforms and jewelry & watches favoring brand official websites.

💻Online payment: Digital payments have revolutionized the Chinese luxury fashion market, offering convenience and security for both consumers and businesses. With popular platforms like Alipay and WeChat Pay dominating the market, purchasing high-end fashion items has become seamless and efficient. This shift towards digital payments has also opened up opportunities for luxury brands to engage with consumers through targeted marketing and loyalty programs, further driving growth in the sector.

📌AI & Customer service: Many people find it easiest to use AI for online shopping. By making these services readily available it helps improve the customer experience. This technological development underscores the importance for businesses to adapt to evolving consumer behaviors by seamlessly integrating AI solutions into their customer service offerings, ultimately enhancing the overall customer experience.

🔗This article highlights the changing consumer behaviors and values in the Asian luxury market, highlighting the importance of quality, tailored experiences, and pricing alignment for luxury brands to succeed in the region.

🔎How to engage your target consumers in 2024? Contact EGGsist to design your tailored digital strategy.

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#digitalpayments #digitalstrategy #marketingcampaigns #chinadigital

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Wordline Italia – a pool of digital savvies, gathered together at this interesting event

Yesterday a pool of digital savvies, gathered together at this interesting event in Milan organized by Worldline Italia, featuring the Alipay+ data, solutions and market insights and Global Blue Italia latest survey results and shopping trends.

Do you want to discover more about digital payments and in APP marketing solutions O2O?

EGGsist, OfficialAlipay+ Marketing Partner, support wester companies willing to engage with Chinese consumers 🇨🇳 travelling overseas ✈, contact us now !

Yesterday’s event organized byWorldline Italia,Alipay+ ‘s Payment Partner, in the heart of Milan, the capital of fashion and the undisputed destination of shopping travel for international tourists and in particular for the Chinese, was interesting!

Global Blue Italia ‘s data, as well as the trends of high-growth area bookings (YOY), and the insights shared by Alipay, concretely demonstrate that 2024 is the year of real recovery.

📲 Alipay+ is not “just” a payment APP, but an infinite digital ecosystem with over 4 billion services!!

👏 Thanks to the group’s Marketing & BD team,Sabrina Galessi,Luigi J. L. for citing a case study byEGGsist,Alipay+ Marketing Partner for Europe and the UK since 2019.

📢 One of my goals, as a senior consultant of the Chinese market, is to support Western companies in intercepting global consumers, targeting them by membership level/financial profile, demographics, etc and using data-driven analytics, to create a unique shopping experience by creating a relationship with brands that goes “beyond borders”!

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Why June 18th (618) became a Shopping Festival?

What is 618?

618 is the second largest and most important Shopping Festival in China.
Every year from June 1^st till June 18^th , China’s e-commerce landscape is filled with large-scale promotional activities and discounts on the hottest products of the moment.

Why June 18th (618) became a Shopping Festival?

June 18th is the anniversary of JD.com (京东) one of the Top 2 biggest e-commerce company in China.

The company was founded by Liu Qiangdong on June 18^th , 1998, and its retail platform went online in 2004.

Over the past 10 years, Jing Dong (JD.com) has put a lot of effort into creating and promoting commercial campaigns with unmissable discounts on its best-selling products, in order to create an “emotional attachment ”in the hearts of consumers. So every year during the month of June (until the 18^th ), people in China get excited and start planning their purchases.

Soon enough other Chinese e-commerce giants (Alibaba, Tmall, Secoo) also started their own campaigns during this period, so much so that the 18^th of June became one the biggest Shopping Festivals of the year.

What sells the most during 618?

According to the data of Jingdong, the top five categories of orders placed by Jingdong on June 18^th, 2020, were:

Smartphones, air conditioners, flat-panel TVs, refrigerators and washing machines.

The top five brands in sales were:

Midea, Apple, Haier, Gree and Xiaomi.

Why is 618 a golden opportunity for international companies ?

618 Shopping Festival is a prime opportunity for international brands to get a glimpse into the biggest market in the world and prepare to experience the incredible buying power of the Chinese middle class.

International travel to China continues to be restricted for people but not for products. After one of the most challenging years in recent history, 618 offers a way to bring the essence of your country to the Chinese consumers. For foreign brands, 618 is a great chance to understand what the Chinese market can mean for them in the long term.

618 Shopping Festival and the Fashion Industry in China

Companies such as florists, chocolate brands, travel agencies, jewelry, cosmetics & fashion brand have used this online phenomenon and turned it into an efficient marketing strategy to engage with Chinese consumers. At the same time, with the popularity of e-commerce, many people choose to buy their Valentine’s Day gift online to express their feelings and hope for the best.

The fashion industry in China has been thriving for the past 10 years. And with the rapid process of urbanization, the purchasing power of the population is constantly growing, thus making China an ideal market for international fashion brands.

In 2020 China’s domestic retail sales suffered a huge hit. However, in the month of June, thanks to the three-week period shopping festival, known as 618, many brands were able to offset their losses amassed during lockdown. Fashion and luxury brands are no exception.

Despite the global health emergency, JD’s 618 performance in the luxury category has not declined compared to previous years. During the first hour of the event, the sales of luxury brands grew by 400 percent, respecting the trend of daily sales growth of 100 percent each year. Last year, Delvaux and Prada stood out among the top performing luxury brands, and the ready-to-wear, footwear and jewelry categories showed the most growth.

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