Costco Wholesale, the American membership-only warehouse club that provides a wide selection of merchandise, launched Tmall flagship store on Tmall Global reaching Chinese consumers directly with competitively priced food and healthcare products ranging from clothing to groceries to laundry detergent to health and beauty aids.
Habits of 2.7M High Net Worth Individuals in China
There are about 2.7 million HNWIs (High Net Worth Individuals) in China each of whose assets totals over $0.95 million. And, the number of ultra high net worth individuals (UHNWIs), each with personal assets worth over $15.8 million, reached 63,500.
Alibaba Invested in China Hotel IT Provider for Taobao Travel
Taobao has agreed to invest RMB2.81 billion in Beijing Shiji Information Technology Co. Ltd (Shiji Information) who is listed on Shenzhen Stock Exchange (code: 002153), a China-based hotel information technology provider, in return for a 15% stake according to Alibaba Group press release.
Business Car Renting Services’ Potential in China
In a survey conducted by Tencent, 17% respondents said it’s convenient for their daily transport with taxi service mobile apps while 45% had no idea about what such mobile app is. Since 26% respondents thought it still needs to improve and many Chinese mobile users are not aware of taxi service mobile app, there is […]
HSBC PMI China Signaled Slightly Weaker Growth in Service Sector in September
Purchasing managers index (PMI) data, released by HSBC covering both manufacturing and services, signalled a further expansion of Chinese business activity in September 2014.
China Mobile App Distribution Channels Market Share
In Q2 2014, the number of China app distribution exceeded 25.5 billion with an increase of 8.9% from prior quarter. Baidu league still ranked the top with a market share of 41.7%. Tencent’s market share increased to 20.1%, by 3.5% from Q1 2014.
British Scholar Criticized Western Media on Weibo
John Ross, former economic advisor to Ken Livingstone when he was Mayor of London, criticized western media coverage of Hong Kong’s too hypocritical on his official verified Weibo account, which attracted hot discussion of Chinese netizens.
INFOGRAPHIC: Alibaba Investment Timeline 2005-2014
Check out this infographic to have an overview of Alibaba Group’s investment and acquisitions since 2005 before its IPO.
Alibaba’s UCWeb Giving Away $9.7M Hongbao to Mobile Shoppers
UCWeb, mobile browser company now owned by Alibaba, updated its mobile browser to cooperate with Tmall to promote shopping privilege by giving out red envelops (or hongbao, a frequently used mobile marketing tactic) worth RMB60 million (USD 9.7 million). New version will support users to log in with Taobao account so users can enjoy convenience […]
Wechat Launched Business Accounts for Team Collaborations
Wechat officially announced business accounts in beta, which targets business use of Wechat providing mobility and timely convenience for work.
GroupM Projects Advertising Spend in China to Reach $77 Bln in 2014
GroupM projects measured media advertising spending in China this year will increase by 9.8% compared to 2013 to reach RMB473 billion (US$77 billion); it also predicts an 11% hike in 2015 to reach RMB525 billion (US$85 billion).
Wechat Launched Card Payment, Faster Than Using Credit Card
Wechat launched a “card payment” option with which users can make fast payment at supported retail chains; this payment is either using remaining fund in Wechat Wallet or linked to the user’s bank ATM card.
Tencent QQ Gets into Guinness World Record
Tencent QQ got into guinness world record for having the most number of simultaneous online users on an instant messaging platform on 3rd July, 2014, which was announced by Guinness World Records on 4th September, 2014. Tencent QQ becomes the first Chinese instant messenger in Guinness World Record.
Taobao to Sell 200 Varieties, 3,000 Tons of Fresh Food
Taobao is promoting the direct sales of fresh agricultural products to Chinese consumers throughout the country on its food vertical chi.taobao.com (chi: eat).
Alibaba IPO Roadshow Presentation Videos
Alibaba Group, China’s e-commerce giant, profit tripled to $2 billion in Q2 2014, and it is raising $21 billion in an IPO and here are six videos helping you have a better understanding of its marketplaces.