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 […]
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 […]
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 […]
Pinduoduo, China’s largest social e-commerce platform, is well known for its aggressive pricing as well as questionable product quality. Let’s take a look at how Pinduoduo achieved low-cost user acquisition utilizing social power. Cici received a link from her sister on WeChat, requesting her to click on it so that her sister could obtain cash […]
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 […]
In 2020, China’s online retail sales reached 11.76 trillion yuan (US$1.82 trillion), with a year-on-year growth of 10.9%. The online retail sales of physical goods reached 9.76 trillion yuan, with a year-on-year growth of 14.8%, accounting for nearly a quarter of the total retail sales of consumer goods. The eastern region accounted for 84.5% of […]
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 […]
Forbes China and Russell Reynolds Associates jointly released the Best Employers 2021 ranking.
Didi is the world’s largest mobility technology platform. It has been strategically building four key components of its platform that work together to improve the consumer experience: shared mobility, auto solutions, electric mobility, and autonomous driving. Didi (company name Xiaoju Kuaizhi Inc) started its mobility business in China in 2012. It has become the world’s […]
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 […]
In 2021, Chinese adults spend an average of 3 hours and 16 minutes a day checking their smartphones, excluding phone calls. Compared with 2020, this engagement on smartphones has increased by 25 minutes, or 14.6%. Chinese smartphone users spend the longest time with their smartphones, followed by the United States, with adults spending 3 hours […]
In 2021, Chinese households have the strongest consumption intention in tourism, health care, and education, according to a survey by CCTV Finance. People in first-tier cities and second-tier cities are more willing to travel. The survey also found that more than half of the people are willing to strengthen fitness exercise for good health. About […]
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.
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 […]
Last year, WeChat launched WeStore, an online store mini program on WeChat. Many companies launched their WeChat stores, including luxury brands. Recently, some users found some luxury brands’ WeChat mini programs, such as Gucci and Givenchy, inside JD and Xiaohongshu (RED). Gucci’s Xiaohongshu Company Account shown in search results Clicking on the ad (the “cat” […]