E-Commerce in China

Now a days if your business has website you are selling to the whole world. That said you should be planing your e-commerce strategy into China.

In case your still doubting the size of the Chinese market…BCG forecasts there’ll be 280 million(the population of the US) affluent consumers in China with a disposable income of $20K to $1m, by 2020.¹ Thats a lot of people. The majority of Chinese live in 200+ secondary cities(with 1 million + people in each). However, many of these cities lack a large verity of foreign retail stores. So where do these people shop?…

Online.

Single’s Day, Nov 11, or ‘11,11’ 2012, saw China’s online retailers slash prices by up to 70%, drawing  shoppers in their droves.  On China’s TMall and Taobao alone, Chinese filled their carts with $3 billion of goods in 24 hours, eclipsing the $1.25 billion record US retailers did on Cyber Monday.²   And thats just the start of things.

We estimate that by 2020, as 15 to 20 percent annual growth rates (before inflation) continue, e-tailing could generate $420 billion to $650 billion in sales, and China’s market will equal that of the United States, Japan, the United Kingdom, Germany, and France combined today.³

When everything is said and done, deciding on how to move into the Chinese market really depends on a lot of factors, but certainly e-tailing in China is something that can not be overlooked.

 

 

¹  ³ http://www.mckinsey.com/Insights/Asia-Pacific/China%20e-tailing
² http://www.searchenginejournal.com/sell-online-in-china/51958/

In China it Pays (Literally) to Follow People on Twitter/Weibo

Your new car is made in China!

“Billionaire and philanthropist Chen Guangbiao stands on the roof of a new car he bought in the eastern city of Nanjing yesterday. Chen spent about 5 million yuan (US$794,252) in purchasing new cars, all Chinese brands, for the 43 owners of Japanese cars that were damaged last month during nationwide anti-Japan anger fueled by Japan’s “purchase” of the Diaoyu Islands from a so-called private owner. The 43 are all followers of Chen’s microblog on Weibo. Chen, well known for his flamboyance and high-profile charity activities, has more than 3.5 million followers on the social networking website.”

Source: http://www.shanghaidaily.com/nsp/National/2012/10/11/Your%2Bnew%2Bcar%2Bis%2Bmade%2Bin%2BChina/

 

National Day of the People’s Republic of China

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National Day of the People’s Republic of China (October 1st 2012) Nanjing Road, Shanghai China

National Day is considered one of Chinas “Great Migrations”… you may be able to tell why:)