China’s e-commerce market is the largest in the world, being worth 1 trillion US dollars by 2019. Small wonder then that so many entrepreneurs and businesses are looking to Chinese consumers as a lucrative but cost-effective market.
The Chinese want to have access to foreign and domestic products that have always been unavailable to them and they are spending more than ever before on online marketplaces.
Get help with activating your e-commerce business
If you want a piece of the e-commerce market in China, you need to know that Chinese consumers are well-informed, smart online-shoppers. The Chinese are willing to open their purse-strings wide for brands that will raise their social status.
They’re willing to try new brands. They want to see that the brands you’re offering them are found on a local webshop hosted in China. They want to see their language being used to explain products and services. So, if you are serious about selling to Chinese consumers, a Tmall partner such as WPIC.co can give you the tools that anyone needs to activate their e-commerce business in this buzzing marketplace.
Tmall is China’s most popular e-commerce site. It is one of Alibaba’s three online retail marketplaces. It’s a trusted platform where the Chinese can buy products not readily available in traditional retail outlets.
Cell phones a must-have
The Chinese people spend a good portion of their disposable income on online purchases. They are particularly partial to the clothing and consumer electronics categories, but other key categories include baby care products, food and beverages and cosmetics.
Chinese people look at their own local products as being of a lower quality than international brands. There has been a sharp rise in access channels to e-commerce sites and this means that more Chinese consumers are buying Internet-enabled cell phones. They realize that these phones give them access the thousands of ‘mobile stores’ that exist online.
Logistics – there’s a great need
If you’re looking to start a lucrative e-commerce business in China, you might want to look at the logistics, delivery, and shipping side of things as there is a serious shortage of quality logistics providers in China.
There is always the issue of lost and damaged goods. China is experiencing remarkable growth with its e-commerce market and yet logistics is proving to be challenging. It is even believed that logistics is proving to be a hindrance to the e-commerce industry.
Live events buying
Chinese consumers love Western brands and particularly luxury goods and cosmetics. There is just so much sales potential you can tap into, so long as what you sell is quality. The Chinese are even shopping during live events. Live streaming and digital payments are integrated into e-commerce platforms such as Tmall.
Viewers can buy products through links while they are tuned into a live stream. This integration has encouraged the growth of live streaming and social commerce in China.
It is thought that last year in 2020, China’s live-streaming shopping market reached about $66 billion. China’s e-commerce platforms are integrated with social networks, offering services such as this live streaming commerce. The Chinese consumers get the best deals on products, with social buying being so convenient.
The boom of social commerce
These days Chinese shoppers expect to make a purchase with just a couple of clicks. The use of social media with e-commerce is increasing in China and the huge mobile industry and growth of social media usage are fuelling this growth of social commerce.
Many consumers are making their purchases through social media platforms. The boom of social commerce has reshaped the competitive e-commerce landscape and changed forever the way people shop in China.
For entrepreneurs looking to expand into China, there is huge growth potential that is attracting many investors so now is the time to jump right in and claim your slice of the lucrative Chinese pie.