The Double 11 rising on the popularity of China Singles’ Day (Nov 11) is growing bigger every year. Top e-commerce players all saw record-breaking sales on this very day. Sales on Tmall reached 10 billion yuan in 00:02:05, sales on NetEase Kaola exceeded 100 million yuan in 00:03:49, and GMV on Suning exceeded 100 million […]
China long-term apartment rental market to reach US$226 bn by 2018
In China, rental housing accounted for 18% of overall housing supplies, the proportion in the US was 37%. The rental rate of return in some core cities was 1.5% while that in the US was more than 5%. The long-term apartment rentals market was expected to reach US$226.26 billion by the end of 2018. The urbanization rate […]
Video: how China’s largest automated warehouse works
Alibaba Group’s Double 11 Global Shopping Festival is the biggest shopping event. This year, the one-day event brought in over $30 billion in gross merchandise volume. Delivering these $30 billion goods to consumers replies a lot on Alibaba affiliated logistics company Cainiao (majority owned by Alibaba). In 2017, Cainiao delivered 812 million orders. But how?
Ultimate guide to Alibaba’s Double 11 2018; one day sales exceeded US$30 billion
This year marks the 10th anniversary of Double 11 online shopping festival. The first Double 11 in 2009 brought in US$7.8 million in gross merchandise value (GMV). Total GMV generated in 2017 was US$25.3 billion, which was more than twice the size of Black Friday and Cyber Monday combined.
China’s mobile business apps users insights 2018
The workforce in China totaled 770 million in 2017, with 424.62 million working in urban areas and 351.78 million in rural areas. Less than 20% of China’s working population used mobile business apps. The active users of business apps reached 155.81 million in June 2018. Maimai, 51job, Hilamaya FM, and DingTalk were the top choices. China […]
China accounted for 40% of world’s top 10 FinTech; led by Ant Financial & JD Financial
Chinese FinTech companies took four places of the Top 10 FinTechs Ranking in 2018. Ant Financial topped the list, followed by JD Finance. Baidu-affiliated Du Xiaoman Financial and Lufax ranked fourth and tenth, respectively, according to the report from H2 Ventures and KPMG.
Fresh food e-commerce trending in China with 38 million users in 2018
China’s fresh food e-commerce market had a penetration rate of 3.44% and 37.88 million users as of July 2018. 85.11% users only installed one app. Dmall, Missfresh, JD Daojia, Freshhema, and RT-Mart Fresh are among the list of top fresh food e-commerce apps. The industry penetration rate of fresh food e-commerce app was 3.44% as […]
Online video platform iQiyi saw 89% increase in paid subscribers in Q3 2018
Total revenues of iQiyi grew to RMB6.9 billion (US$1.0 billion) in Q3 2018, representing a 48% increase from the same period in 2017. Membership services revenue was RMB2.9 billion (US$415.3 million), representing a 78% increase from Q3 2017. Online advertising services revenue was RMB2.4 billion (US$348.9 million), down 4% YoY.
Sales in EU expected to explode during Alibaba’s Double 11 shopping festival
Tmall Double 11 global shopping festival 2018 is expected to double its sales value in the UK, according to the e-commerce delivery firm ParcelHero.
China golden week travel insights 2018; decline in flights & expenses
Chinese went on 726 million domestic person-trips and 7 million outbound trips in the Golden Week holiday of 2018 (1-7 Oct). They altogether spent 650 billion yuan (US$93.65 bn) on traveling. Both the average daily sales of retail, food & beverage, and the domestic person-trips dropped. Travelers spent less on outbound travels. Only 19% of outbound […]
China GDP overview for Q3 2018
The gross domestic product (GDP) of China was 65,089.9 billion yuan (US$9,368.51 bn) in the first three quarters of 2018, a year-on-year increase of 6.7% at comparable prices, according to the preliminary estimates of National Bureau of Statistics of China.
China retail market up 9.2% to US$462B in Sep 2018; online up 27%
In September 2018, the total retail sales of consumer goods reached 3,200.5 billion yuan (US$461.81 bn) in China, up by 9.2% year-on-year (nominal growth rate), according to National Bureau of Statistics of China. The retail sales of consumer goods of units above-designated size reached 1,276.2 billion yuan (US$184.15 bn), increased by 5.7%.
8 Types of Chinese outbound travelers
There are various types of Chinese outbound travelers and a recent McKinsey study categorizes them into eight groups according to the differences in travelers’ preferences and behaviors. 1. Value-conscious traveler Low income ( family monthly income of 11,999 yuan) group. The objective of traveling is to stay away from busy life and enjoy the quality […]
The changing demographics of Chinese outbound travelers
With the increasing number of Chinese tourists vacationing in international destinations, their preferences, behavior and purchasing patterns are undergoing significant changes. 1. Experience-centered Not all Chinese tourists are in it for the shopping. When planning an international trip, Chinese travelers prefer destinations with beautiful natural scenery (65% of respondents), according to McKinsey with good value […]
Chinese outbound travelers – opportunities for travel agencies, retailers, and hotels
Outbound travel is becoming a major factor affecting the development of travel agencies and high-end tourism markets. For travel agencies, there are two types of competition that are key to value chain integration according to a recent McKinsey report. This article also shares information on outbound tourism opportunities for the travel retail and hotel industries. […]