In a relatively short time, China has become one of the world’s largest digital economies. Thanks to the support of nearly one billion internet users, China’s e-commerce sales rose to $1.7 trillion in 2020, accounting for about 30% of the country’s total retail sales. But scale is not the whole point of the story. Innovation […]
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China enterprise SaaS market overview and forecast
After the market recovered in 2018 and the growth fell slightly in 2019, caused by the epidemic, the growth rate of SaaS market rose again in 2020. In 2020, the SaaS market in China reached 53.8 billion yuan, a year-on-year increase of 48.7%. At this stage, the capital market’s attitude towards SaaS is more rational, […]
China Digital Luxury Report 2021
China’s post-90s (those born after 1990) are expected to contribute to 46% of China’s luxury purchases in 2021, according to joint research by Tencent Marketing Insight (TMI) and Boston Consulting Group (BCG). China’s post-90s already make up 50% of the luxury goods buyers in the country, with a fast growth rate of between 25-35 percent […]
China National Day Travelers’ Insights 2021
Self-driving tour has become the standard for National Day Golden Week travel in 2021, and the popularity rises by 150% according to Mafengwo. From October 1 to 7, UnionPay online transactions totaled 2.72 trillion yuan, with 4.863 billion transactions, and the average number of daily transactions increased by 31.73% year on year. UnionPay data show […]
7 Major Consumer Segments Shaping Chinese Market Landscape
China’s domestic consumer market has grown to a considerable size. However, there’s still much potential in it. China will offer a US$5 trillion consumption growth opportunity in the next decade, according to a latest research by the McKinsey Global Institute. Citizen’s incomes are increasing at a steady pace. China’s number of households with upper middle […]
WeChat Mini Programs Insights 2021
The number of monthly active users of WeChat Mini Programs has exceeded 863 million (as of December 2020) according to data from QuestMobile. On average, each WeChat user uses 5.6 mini programs in December 2020, up from 5.1 a year ago. The average time spent per user on WeChat Mini Programs increased by over 27% […]
Why are the Blind Box so attractive to many consumers in China?
A box is supposed to function as a storage tool. But in recent years, the “Blind Box” has gained its popularity in China. Benefiting from this trend, a Beijing-based toy maker Pop Mart raised $676 million in an initial public offering (IPO) at the end of 2020 which gave the company a valuation of $7 […]
Report: China growth AI companies overview
China’s artificial intelligence (AI) market will reach 205.8 billion yuan (US$31.74 bn) in 2021, with a growth rate of 30%, and exceed 500 billion yuan by 2025, according to a report jointly published by Intel and Deloitte. There are about 5,015 AI-related enterprises in China, including 4484 growth AI enterprises, accounting for about 90% of […]
China cross-border shopper insights 2021
Since 2016, the proportion of China’s middle-class population in the total population has increased steadily. At the same time, the scale of China’s cross-border e-commerce users has maintained a high range. With the rise of China’s middle class and its promotion of consumption upgrading, China’s cross-border e-commerce demand will face great development potential in the […]
Tmall Global cross-border e-commerce insights 2021
The number of brands and merchants on the Tmall Global platform as of December 31, 2020, grew over 60% year-over-year, according to Alibaba’s announced financial results. Merchants Growth on Tmall Global From 2017 to 2020, the number of online businesses on Tmall global grew rapidly, with an average annual compound growth rate of 55.2% In […]
New product online consumption trends in China
More than 60% of brands choose to launch new products online during the past one year, and most choose Tmall, according to a joint report by Yicai and Alibaba. According to the data of the report, in recent years, the total number of new products on the Tmall platform has doubled year by year, and […]
Top AI companies and platforms in China
China’s AI public cloud service market reached 2.41 billion yuan (US$370 million), accounting for 10.4% of the overall AI software market. IDC estimates that by 2025, the proportion of public cloud services in China’s AI software market will reach 36.1%. China’s AI software market reached 23.09 billion yuan in 2020, about 60% of the US […]
China 618 Shopping Festival 2021: Tmall vs. JD
Alibaba Tmall kicks off 2021’s 618 Shopping Festival on 24 May. This year’s pre-sale activities are obviously ahead of schedule. The balance will be paid on June 1, and the discount will last for 20 days.
Insights of Chinese online shoppers in lower-tier cities
Lower-tier cities, accounting for over 68% of the total population in China, are the third tier and below urban and rural areas in China, which have the characteristics of huge consumption potential, good network infrastructure, and policy support. As the growth of the first and second tiers is slowing down, lower-tier cities are attracting the […]
WeChat Apps Guide (Weixin Mini-Programs)
The launch of Mini-Game “Jump” (Tiaoyitiao) made WeChat Mini-Programs (or WeChat Apps) an instant hit in early 2018. On average, 230 million users used WeChat Mini-Programs daily, 60 million more than 2017. It is estimated to exceed 350 million by the end of 2019.