China’s e-Commerce is thriving in contemporary times. Each day about 150,000 new shoppers from China join the million people who are already in the business of e-Commerce. According to trade analysts, this number will soon double by the year 2020 to an estimated value of $1.5tn. Future for brand development and online retailing seems to be bright with constant innovation in the e-Commerce market in China.
Most of the big brands in China are vying for the lead spot in the e-Commerce industry in China. However brands which integrate their business model with customer experience and tries co-creating with the consumers in both the online and offline world will survive and reap the benefits. Such brands will not only create a niche for themselves but will outpace their competitors and become the key player of the dynamic world of e-Commerce in China.
Digital Marketing and e-Commerce
Digital marketing is on the rise in China. Digital and e-Commerce go hand in hand which makes it all the more successful. Most of the brands in China are undertaking digital marketing strategy in order to take over the e-commerce market and get an edge over their competitors. Since Chinese consumers are tech savvy and mostly shop online, most brands and companies have understood that there is no better way than the internet for capturing the e-Commerce market. Most brands in China are investing in the e-Commerce market in China solely for the fact that they can reach to a million consumers at one go.
e-Commerce shaping consumer behavior
90% of the people of China shop online for almost all their needs. Nowadays shoppers not just go online for low prices but are opting for online shopping as they are looking for quality and branded stuff. Therefore most brands too in China are digitalizing their brand and creating their own websites for selling their products and services. This not only give them access to million of consumers but also help increase their sale and e-reputation. e-Commerce is becoming a game not just for the sellers but also the consumers. The sellers are now focusing more on quality than quantity and coming up with brand development strategy and investments in the growing online market in China.
Empowering their brand with internet technology
Online retailers are focusing more on the internet based opportunities as it is giving them more business and customers than any other channel of sales. Introduction of innovating business model, co-creating with customers through direct contact and feedback process and launching quality products in order to serve the consumers are a few strategies which are working well for the brands in the online retailing markets in China.