China's digital landscape continues to evolve rapidly, with a marked shift in consumer behavior and digital service adoption. The latest report by the China Internet Network Information Center (CNNIC) highlights several key trends in the first half of 2024, focusing on consumer demand, mobile payment convenience, and the burgeoning online video industry.
Growing Popularity of Trade-In Programs and Online Service Consumption
The report reveals a significant trend towards trade-in programs and online service consumption, driven by initiatives to stimulate domestic demand.
In the first half of 2024, e-commerce platforms in China actively supported trade-in policies by offering substantial subsidies, streamlining processes, and enhancing logistics capabilities. These efforts have effectively facilitated consumer conversion and consumption upgrades.
According to the CNNIC report, 68.8% of internet users who participated in trade-in activities chose to do so online.
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