The Chinese e-commerce and mobile-commerce markets have seen a rapid expansion in recent years, and Chinese consumers have eagerly adopted these new shopping methods. According to China Internet Watch, these are the four biggest trends in online shopping in China:
1. Mobile Commerce
As smartphones and tablets become increasingly widespread in China, people nationwide are using these devices to make purchases. Though desktops and laptops are still the primary devices for online shopping, a new joint study by KPMG and Mogujie shows that mobile devices are quickly supplanting the old devices.
2. Mobile Payment
Chinese shoppers are taking advantage of mobile payments while shopping online and offline. Providing 85.5 percent of payment services in China, the four biggest online payment companies are Alipay, Tenpay, Union Pay, and 99bill. According to the KPMG survey, 55 percent of Chinese online shoppers had used mobile payment, whereas only 19 percent of those surveyed from the US had done so.
3. Adjusting Product Positioning Strategies
With the explosion of e-commerce in China, online retailers have had to adjust their product positioning strategies in order to cater to the needs of their consumers and how they’re using online shopping channels. The biggest factor that influences Chinese online shoppers is price with 74 percent of survey respondents citing low price as their biggest consideration in online shopping. Other factors include less time consumption, specific origin of products, the ability to compare goods, and the larger variety of available goods.
4. Social Media is a Powerful Marketing Tool
Research has shown that as much as 25 percent of traffic to e-commerce websites comes from social media with half of that attributed to popular online opinion leaders. In fact, social media has topped word of mouth in influencing the purchases of Chinese shoppers.
Image source: Daniel Foster, China Internet Watch