China’s booming O2O market is expected to reach nearly 3 trillion RMB in 2020. COVID19 has accelerated the development of the To-home O2O, and the share of the To-home O2O business is estimated to exceed 61% in 2020.
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China’s booming O2O market is expected to reach nearly 3 trillion RMB in 2020. COVID19 has accelerated the development of the To-home O2O, and the share of the To-home O2O business is estimated to exceed 61% in 2020.
The rapidly developing social commerce market is expected to reach nearly 3.5 trillion RMB in 2020, with the market share of WeChat social eCommerce platforms exceeding 42%.
The top five categories for social commerce include apparel (26%),
cosmetics (13%), home appliance (10%), food & beverage (10%), and fresh products (10%).
Simple changes increased the brand’s WeChat user ID binding rate by 31%, allowing for better segmentation and personalized marketing content and offers.
From a digital showroom, to purchasing a vehicle, to after sales support – every step of the car-buying journey now occurs within the WeChat ecosystem.
Emerging Trends
With offline retail closed, O2O and social commerce became Chinese consumers’ go-to daily use channels during the pandemic. For many consumers in 1st-tier cities this was already a habit prior to COVID19, but their reliance on these channels has only increased since.
On top of that, e-commerce live streaming has exploded in popularity. Brands will need to focus on these new retail channels in order to be successful in China moving forward.
二月 27, 2021 | Xiana Chin
二月 27, 2021 | Xiana Chin
二月 27, 2021 | Xiana Chin
二月 27, 2021 | Xiana Chin
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