|3 Min. Read||Dominic Dithurbide||April 01, 2015|
Citing a report from consultancy firm McKinsey & Company, China Daily recently identified five trends shaping China’s e-commerce market in 2015.
The story is a fascinating snapshot of the country — and an especially valuable one for companies that are keen to expand into the Chinese online market. We’ll save the most intriguing & actionable data for last, but here are a few noteworthy takeaways:
We promised to save the most intriguing & actionable data for last. Here it is: Social networks and smartphone usage have completely revolutionized online shopping in China. Social networks such as WeChat, QQ and Sina Weibo provide ways for customers to recommend products to each other — which has become “the most important factor in their online shopping decision,” the report notes. Further, it’s possible for entrepreneurs to launch stores exclusively within these social networks, practically eliminating any friction between browsing and buying.
China Daily’s data jibes with MotionPoint’s observations. MotionPoint helps many brands and retailers launch websites for the Chinese market. The influence of social networks, and their ability to drive traffic and revenue to Chinese sites, is astonishing … and it’s growing.
Take one MotionPoint client, who entered the Chinese online market about a year ago. It wisely integrated functionality with social networks such as WeChat, Weibo and QQ. In the last three months:
Further, Chinese social media already drives 10% of all traffic (not just referral traffic) to the client’s Chinese site, and contributes nearly 10% to all Chinese site revenue — an exceptional showing for a Western company still in its nascent days of connecting with the Chinese market. Based on observing the shopping behavior of this client’s social media-savvy Chinese shoppers over the past year, we’re able to determine even more insights about them and other Chinese consumers:
For clients entering the Chinese market, MotionPoint recommends not only integrating functionality for Chinese social networks into its localized site, but integrating most of these networks. This ensures maximum penetration (and opportunities for traffic, revenue and conversion) into this increasingly connected and affluent market.
Would you like to learn more about the Chinese market, and how your organization can quickly connect with its consumers? Contact us to learn more about the opportunity, and how MotionPoint can get you there.