In the first half of 2021, the overall revenue of vendors in the IT security service market in China is approximately US$1.11 billion (about RMB 7.15 billion). The revenue of vendors has doubled compared with the same period last year, with an increase of 110%, or a year-on-year increase of 38% from 2019. China’s IT […]
Digital Transformation of Chinese Enterprises 2021
According to Accenture’s Global CEO survey in 2021, about 70% of the Chinese executives interviewed believe that the competitiveness of Chinese enterprises has improved compared with North American and European enterprises. In contrast, about 40% of the European and North American executives interviewed believe that their enterprise competitiveness has decreased compared with Chinese enterprises. China […]
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 […]
The secret behind the success of L’ORÉAL’s TikTok Super Brand Day
With China’s increasing domestic consumption demand, new domestic makeup brands are emerging and are introducing new product lines at a rapid pace, hoping to capture more market share vis-à-vis multinational brands. At the same time, the Generation Z consumer base is growing, driving the concept of Fashion Makeup to evolve. Under these changing market conditions, […]
Report: 5 segments of smartphone buyers: US vs UK vs China
Strategy analytics conducted a new smartphone consumer survey in China, the UK, and the United States to identify the key factors driving consumers’ replacement behavior. The report explores the drivers and barriers that affect when and how consumers change smartphones. The annual global shipment of smartphones exceeds 1.3 billion, which is the biggest business opportunity […]
An overview of China’s New Middle Class
Among the 200 million new middle class in China, the post-80s and post-90s account for 50.8% and 49.2% respectively, according to data from Questmobile. The New Middle Class is the group of Chinese between 25 and 40 years old, living in tier-1 to tier-3 cities with an online spending power of over 1,000 yuan. Their […]
China’s Gen-Z a driving force for the next decade’s automobile growth
China’s automotive market would boom in the third to fourth-tier cities over the next ten years, with those born after 1995 being the dominant force of car buyers, according to the JD Big Data Research Institute’s report on Gen-Z, released in August 2021. Apart from the vast incremental market opportunities, the report also stated that […]
China’s 3rd-party payment market 2021-2025e: mobile vs. internet
The third-party mobile payment transactions in China increased to 74.0 trillion yuan in the first quarter of 2021, a year-on-year increase of 39.1%, according to data from iResearch. iReserarch forecasts China’s third-party mobile payment market would reach 74.2 trillion yuan in the second quarter of 2021. China’s third-party mobile payment is mainly composed of three […]
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 […]
China mobile internet users overview Q2 2021
The average number of installed mobile apps increased to 26.3 in Jun 2021 from 24.9 a year ago. Mobile internet monthly active users in China increased to 1.164 billion in June 2021, according to data from QuestMobile. 41% came from Tier-1, New Tier-1, and Tier-2 cities. Social networking, videos, and shopping have the highest mobile […]
Mini Program platforms 2021: WeChat vs. Alibaba vs. Baidu (Updated)
Mini Programs (MP) are light applications designed to run on top of a specific mobile app. Top technology companies in China have designed and run their own mini-program framework; and, the most popular ones include WeChat platform, Alibaba (Alipay platform; Taobao platform), Baidu Smart Program, and QuickApp. Lifestyle service is the most popular category on […]
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 […]